Downstream

This post was originally published on this siteJune 15, 2022 Policymakers, economists and journalists often talk about the business cycle using the good-and-evil language of a fairy tale. Booms are attributed to wise and enlightened policies while recessions are blamed on policy errors or the need to cleanse previous excess. But the economy is not […]

This post was originally published on this site Israel and Egypt will aim to boost natural gas exports to Europe under a memorandum of understanding (MoU) signed on Wednesday as the continent looks to replace Russian energy imports.

This post was originally published on this siteJune 14 (Reuters) – Freeport LNG, one of the largest U.S. operators of liquefied natural gas export terminals, on Tuesday said damage from last week’s fire at its Texas plant would keep it fully offline until September with only partial operation through year end. Natural gas prices slumped

This post was originally published on this siteSummary Road fuel prices across world hit records Congestion data from major cities shows little change Demand destruction might kick in later in year-analysts LONDON, June 15 (Reuters) – Drivers around the world are tolerating record-high prices for road fuels, as mobility wins out for now over other

This post was originally published on this siteJune 15, 2022 President Joe Biden told US oil refiners that unprecedented profit margins are unacceptable and called for “immediate action” to improve capacity as the soaring price of gasoline feeds record inflation and fears of a recession.“At a time of war, refinery profit margins well above normal

This post was originally published on this siteJun 15, 2022 (Bloomberg) Global oil supply will struggle to meet rising demand next year, meaning consumers will continue to face tight fuel markets, the International Energy Agency said in its first assessment of 2023. A resurgent Chinese economy will bolster consumption, while tighter sanctions on Russia will curtail

This post was originally published on this siteJun 14, 2022 (Bloomberg) Billionaire Harold Hamm may trigger a bidding war for Continental Resources Inc. with his $4.3 billion takeover offer for the shale powerhouse he founded. The Hamm family’s all-cash, $70-per-share offer for the 17% of the company it doesn’t already own will be evaluated by a

This post was originally published on this siteJun 14, 2022 Oil companies that record a profit margin better than 10% would face a new federal surtax under a plan developed by a key senator, as Democrats and the White House struggle to curb US energy costs and broader inflation. The proposal by Senator Ron Wyden,

This post was originally published on this site(Bloomberg) Oil fluctuated in a second day of volatile trading, with the Federal Reserve set to sharply hike interest rates at a meeting later. West Texas Intermediate traded lower after swinging between gains and losses. Prices moved in a range of more than $7 on Tuesday, the largest

This post was originally published on this siteEuropean natural gas surged after Russia’s Gazprom PJSC said technical issues curbed supply through a key link to Germany just as a major export terminal in the US is likely to remain shut for three months. Benchmark futures settled 16% higher as Gazprom said flows via the Nord