Petrochemicals

Petrochemicals , Crude Oil , Trade

Oil Jumps 4% as US Gasoline Prices Hit Record High, Stock Markets Soar

WTI was on track for its highest close since March 25 and its third weekly rise. Brent, however, remained set for its first weekly decline in three weeks.

May 13, 2022

Business , Petrochemicals

Lyondell Basell to Shutter Houston Oil Refinery in Refining Exit

Lyondell said the Houston refinery, once the anchor of its supply chain as a regional chemical company, no longer fit with its global petrochemical production.

May 2, 2022

Petrochemicals , Crude Oil , Storage

US Crude Stockpiles Slump as Export Surge to More Than 2-year High: EIA

“Strong exports have been driven by a pull to Europe and we should expect strength in the weeks ahead,” said Matt Smith, lead Americas analyst at Kpler.

April 20, 2022

Business , Petrochemicals , Policy & Regulations

New York AG Launches Investigation on Oil Industry Over Gas Price Gouging

The New York Attorney General launched an investigation to determine if the oil and gas industry has engaged in price gouging following testimonies from oil executives in Congress last week.

April 14, 2022

Petrochemicals , Legislation

At California Gas Station, Republicans Woo Angry Over Fuel Prices

In an attempt to persuade passing motorists to register with the Republican party, activists gathered at a Chevron station in Orange County, California, blaming the Democratic party for high gas prices.

April 1, 2022

Petrochemicals , Crude Oil , Trade

US Refiners Turn to Middle East for Fuel Oil after Russia Import Ban

About 4 million barrels from Middle East suppliers are set to discharge along the U.S. Gulf Coast next month, the highest level in at least 12 years.

March 25, 2022

Petrochemicals , Crude Oil , Trade , Storage

US Crude Oil, Fuel Stockpiles Fall as Demand Jumps: EIA

Worldwide demand for crude oil was also visible in U.S. exports of crude, which rose to their highest since July 2021, and as refinery utilization rose on the U.S. Gulf Coast hub to its highest level since January 2020.

March 23, 2022

Petrochemicals , Crude Oil , Trade

Platts Allows Traders to Specify Restrictions on Oil Product Origins

Russel Hardy, CEO of the world's largest oil trader Vitol, also said on March 22 customers did not want to buy Russian oil.

March 22, 2022

Public Capital , Petrochemicals , Health, Safety & Environment

Chevron, Phillips JV to Pay Millions for Air Violations at Gulf Coast Chemical Plants

Chevron Phillips Chemical Co. LP entered a settlement with the Justice Department to resolve allegations that it violated the Clean Air Act and state pollution laws at three of its petrochemical facilities along the Texas Gulf Coast.

March 10, 2022

Petrochemicals , Crude Oil , Storage

US Crude Oil, Fuel Stockpiles Fall; Strategic Reserves at 2002 Low

U.S. crude stocks in the Strategic Petroleum Reserve (SPR) fell to 577.5 million barrels, the lowest since July 2002.

March 9, 2022