Hungary's cap on fuel prices should be lifted because it will lead to shortages "sooner or later", the CEO of Hungarian oil and gas company MOL said.
In case you missed any downstream news, here are the top stories from last week.
Wall Street analysts sharply increased their ExxonMobil Corp second-quarter profit estimates after the largest U.S. oil producer projected it could almost double its first-quarter earnings.
More than 5 MM barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month.
Technip Energies has been awarded a large EPC contract by Hafslund Oslo Celsio, the largest supplier of district heating in Norway, for a world-first carbon capture and storage (CCS) project at waste to energy plant located in Oslo, Norway.
India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels.
Venezuela's state company PDVSA has suspended gasoline production at the country's second largest refinery due to an outage at its reformer.
Workers at Exxon's Esso refinery in Fos-sur-Mer in southern France have gone on strike demanding higher wages.
Braskem Idesa´s new partner in a $400 MM investment in an ethane import terminal in Mexico will be Advario, part of the storage and logistic infrastructure company Oiltanking.
The head of the Petroleum Association of Japan (PAJ) said the country's subsidies for gasoline had helped restore demand close to pre-pandemic levels in May and June.