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

Public Capital , Investment , Petrochemicals

Exxon Mobil Makes FID for Mega China Petrochemical Project

Separately, Exxon Mobil told Reuters in July that the firm was advancing project discussions with potential partners for an import terminal for LNG also in China’s Huizhou province.

November 9, 2021

Petrochemicals , Crude Oil , Trade , International

China Taps Oil Reserve, Refiners Ramp Up Output

In a rare public statement on Oct. 31, China said it was releasing gasoline and diesel reserves to boost market supply and stabilize prices.

November 1, 2021

Petrochemicals , Emissions

Plastics Projected to Outpace Coal’s Greenhouse-gas Emissions by 2030

The report projected that the plastic industry releases at least 232 million tons of greenhouse gases each year throughout its lifecycle from the drilling for oil and gas to fuel its facilities to incineration of plastic waste.

October 22, 2021

Petrochemicals , Pipelines

Kinder Morgan Delays Restart of Southeast Pipeline Due to Flooding

Kinder Morgan’s Products (SE) Pipe Line, which was shut Oct. 1 after a leak was discovered, spans from Louisiana to Virginia and has the capacity to carry more than 700,000 bbl/d of gasoline, jet fuel and diesel.

October 8, 2021

Petrochemicals , Crude Oil , Storage

US Crude, Fuel Stockpiles Rise as Oil Production Returns

The rebound came as U.S. crude oil output jumped by 500,000 bbl/d to 11.1 million bbl/d, a level consistent with activity before Hurricane Ida slammed into the U.S. Gulf Coast about a month ago.

September 29, 2021

Petrochemicals , Crude Oil

Largest US Fuel Pipeline Shuts as Power Outages from Nicholas Rise

Power outages in the Houston area caused Colonial to pre-emptively shut down its main gasoline and distillate fuel lines, the company said in a notice to shippers after Nicholas made landfall.

September 14, 2021