Downstream

This post was originally published on this siteBy John Kemp U.S. oil refineries have been processing petroleum at the fastest rate for the time of year since before the pandemic, but rising fuel inventories have begun to weigh on crack spreads and likely signal a slowdown ahead. Refineries processed 17.5 million barrels per day (b/d) […]

This post was originally published on this site(Reuters) – OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday. The International Energy Agency said in a report on Wednesday it sees

This post was originally published on this siteU.S. oil refineries have been processing petroleum at the fastest rate for the time of year since before the pandemic, but rising fuel inventories have begun to weigh on crack spreads and likely signal a slowdown ahead. Refineries processed 17.5 million barrels per day (b/d) of crude and

This post was originally published on this site(Reuters) – Oil prices were stable on Friday and on course for their best week in more than two months after solid projections for crude oil and fuel demand. Brent crude futures were down 19 cents, or 0.23%, at $82.56 a barrel by 1003 GMT. West Texas Intermediate

This post was originally published on this siteEQT Corp. CEO Toby Rice announced that the Pittsburgh-headquartered company is now reinstating the 1 billion cubic feet per day (Bcf/d) that was previously curtailed since late February, Natural Gas Intelligence said in a report on Wednesday. EQT Corp., the leading producer of natural gas in North America,

This post was originally published on this siteThe nation’s largest oil trade group, which includes Exxon Mobil and Chevron, will file a federal lawsuit on Thursday seeking to block the Biden administration’s efforts to reduce planet-warming emissions from cars and light trucks and encourage electric vehicle manufacturing, the group said. The U.S. Environmental Protection Agency issued new tailpipe

This post was originally published on this sitePhotographer: Callaghan O’Hare/Bloomberg Oil producer Matador Resources Co. agreed to buy assets in the Permian Basin from a portfolio company of EnCap Investments LP for $1.9 billion in cash, the latest in a series of shale industry tie-ups. The deal includes oil and gas producing properties and undeveloped acreage in

This post was originally published on this siteBattery-electric sales projections have been slashed by 6.7 million vehicles through 2026 Bloomberg News Electric vehicles have swiftly gone from a bright spot in the global climate fight to cause for concern, leading BloombergNEF to slash sales estimates and warn that the auto industry is falling further off the track toward

This post was originally published on this siteU.S. crude oil imports rose last week to their highest since 2018, the U.S. Energy Information Administration said on Wednesday, as volumes from Mexico rebounded and the expanded Trans Mountain pipeline boosted shipments from Canada. Imports of crude oil from Mexico rose by 449,000 barrels per day to

This post was originally published on this site(Reuters) – U.S. liquefied natural gas (LNG) provider NextDecade  has signed a non-binding agreement with Saudi Aramco  to supply 1.2 million tonnes per annum (MTPA) of LNG for 20 years, the companies said on Thursday. The deal comes at a time when Aramco is seeking to strengthen its position in