The biggest refinery in southern Russia and a major gas processing plant controlled by Gazprom were hit by a massive attack of Ukrainian drones on Monday, officials from Ukraine and Russia said. Lukoil’s refinery in Volgograd, which is southern Russia’s biggest with 300,000-bpd processing capacity, was hit, regional governor Andrey Bocharov said on Telegram. “As a result of the […]
Continue ReadingUS tariffs on Canadian and Mexican imports will add to the financial burden of US refiners struggling with declining profit margins. Canada may divert oil exports to Asia due to the tariffs, while Mexico could retaliate with limitations on oil supplies to the US. Industry leaders warn that the tariffs could ultimately benefit Asian refiners […]
Continue ReadingFirefighters rushed to the Martinez Refining Company but couldn’t get inside right away. Thick smoke filled the air, and officials had no idea what chemicals might be burning. A public health advisory is now in effect for Martinez and Pacheco. Air quality inspectors are on-site, warning that the smoke plume could impact nearby cities. People […]
Continue ReadingExxon CEO says Trump was right to reverse Biden policies Trump has promised to support oil and gas production Chevron Corp. has begun using “Gulf of America” instead of “Gulf of Mexico” to describe the location of some of its largest oil operations, after President Donald Trump ordered the US to rename the body of water. “That’s the […]
Continue ReadingShip-to-ship transfers of Russian-linked oil have spiked dramatically this month in the wake of America’s largest sanctions package aimed at Russia’s shadow fleet. Data from maritime risk analytics firm Windward shows there has been a 366% increase in Russian-related ship-to-ship transfers of crude and products in the Sea of Crete and a 370% increase in […]
Continue ReadingFourth-quarter profit to be lowest in more than three years Oil markets weigh uncertain outlook driven by Trump’s return The flow of dividends and buybacks from the world’s largest oil companies is under pressure, with fourth-quarter profits plunging and the return of President Donald Trump adding to the uncertainty. The five global oil majors are set to […]
Continue ReadingEarth has existed for more than 4 billion years without present-day humans. In the past, dinosaurs and cavemen never used its plentiful natural resources. Today, with 8 billion humans on this planet, the few wealthy countries are extracting natural resources at alarming rates, and they are NOT being replenished. Crude oil consumption is more than 35 […]
Continue ReadingUkraine early on Tuesday hit with drones an oil refinery near Nizhny Novgorod in western Russia, the General Staff of the Armed Forces of Ukraine said, announcing a second hit at a Russian oil refinery in less than a week. Units of Ukraine’s defense intelligence, in cooperation with other components of the defense forces, struck on […]
Continue ReadingTrump’s return heralds a robust shift in US energy policy, emphasizing domestic production, energy independence, and rescinding Biden-era restrictions. Despite fueling unprecedented domestic manufacturing, global dominance, and technological advancement throughout the last century, the American energy industry has been playing defense in recent decades. [emphasis, links added] Activist environmentalists and liberal government bureaucrats have vilified […]
Continue ReadingBRUSSELS – Hungary removed its veto on the EU\’s six-month extension of Russia sanctions on Monday, but it may not be its last standoff. The deal was struck after the EU agreed to issue a joint, non-binding statement by top diplomat Kaja Kallas and the European Commission to support Hungary\’s energy security at Monday\’s […]
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