Petrochemicals , Crude Oil , Storage

US Crude Oil Stockpiles Rise for First Time Since November

Crude inventories in the U.S. rose by 515,000 barrels in the week to Jan. 14 to 413.8 million barrels, compared with analysts’ expectations in a Reuters poll for a 938,000-barrel drop.

January 20, 2022

Petrochemicals , Policy & Regulations , Acquisitions & Divestitures

US Court Rejects Bid to Block Sale of Texas Oil Refinery to Mexico’s Pemex

Owners of a Mt. Vernon, N.Y., coin-operated laundromat who filed the lawsuit, claimed the sale of Shell’s Texas oil refinery to Mexico’s Pemex would raise U.S. gasoline prices, harm their customers and reduce their profits.

January 7, 2022

Petrochemicals , Crude Oil , Storage

US Crude Stockpiles Drop, But Fuel Builds Sharply: Report

The drawdown in U.S. crude oil inventories was related in part to year-end tax considerations that prompt companies to reduce inventories, especially in the Gulf Coast, to reduce tax burdens.

January 5, 2022

Petrochemicals , Liquefied Natural Gas (LNG) , Natural Gas liquids (NGL) , Natural Gas , Crude Oil , ESG , Shale Plays , Midstream , Construction , Pipelines

Midstream Outlook: More Cash, Fewer Projects

Ajay Bakshani, co-author of East Daley’s annual Dirty Little Secrets midstream outlook, discusses the expectations for $90 billion in free cash flow and why ‘midstream can really do it all in the next few years.’

December 21, 2021

Petrochemicals , Trade

US Gasoline Prices Fall a Little Or a Lot, Depending Where You Are

The main reason gasoline prices are lower has been the falling price of crude oil, which makes up more than half of the price of gasoline.

December 20, 2021

Petrochemicals , Crude Oil , Storage

US Fuel Demand Surges to Record on Buzzing Holiday Activity

Andrew Lipow of Lipow Oil Associates in Houston warned that the volatility in the figures could mean next week’s numbers will drop off sharply.

December 15, 2021

Petrochemicals , Crude Oil , Policy & Regulations

White House On High Gasoline Prices: ‘We’re Frustrated’

“Yes, we’re frustrated. We’re frustrated because you’ve seen a decrease in oil prices. You’ve not seen a decrease in gas,” White House press secretary Jen Psaki said at a news briefing.

November 30, 2021

Petrochemicals , Trade , International

Venezuelan Petrochemicals Arrive in U.S. Despite Washington Trade Curbs

The shipments represent an unreported effort by Venezuela to boost revenues despite U.S. sanctions on its oil industry.

November 19, 2021

Public Capital , Petrochemicals , Crude Oil , Trade

Biden Asks FTC to Redouble Probe of Possible ‘Illegal Conduct’ over High Gas Prices

Gas prices have continued to rise at the pump, Biden said in a letter to the FTC, noting that the two largest U.S. oil and gas companies—Chevron and Exxon Mobil—were on track to nearly double their net income.

November 17, 2021

Petrochemicals , Crude Oil , Storage

US Crude Oil Stocks Fall Unexpectedly as Refineries Ramp Up

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 216,000 barrels, the EIA said, the first time in several weeks that Cushing stocks have increased.

November 17, 2021