US Crude Oil Inventories Fall as Fuel Stocks Build
The decline in U.S. crude oil inventories last week was tempered by another release of barrels from the country’s strategic petroleum reserve (SPR).
Saudi Aramco to Invest in $7 Billion Petchem Project in South Korea
"The Shaheen project will increase chemical yields while reducing operating costs, thus making it more competitive especially in a low-margin environment," a Refinitiv analyst said of Saudi Arabia's investment.
Shell Begins Operations at Polymers Plant in Pennsylvania
Shell's Pennsylvania-based polyethylene manufacturing plant will help accelerate its net-zero emissions targets while providing at least 600 jobs to the northeastern U.S. area.
US Crude Stocks Down, Refining Runs Rise: EIA
Analysts remain concerned that the ongoing draw on crude oil is still due to releases from strategic stockpiles—and that inventories of distillate products are not building enough either.
US Crude Oil Stockpiles Surge; Distillates Draw Down: EIA
U.S. refiners have been running at above-average levels for this time of year to boost inventory levels, though they pulled back on activity last week.
Mitsubishi Partners with Corpus Christi Port Authority on US Ammonia Plant
Mitsubishi and the Port of Corpus Christi Authority will look into the possibility of making low-emission ammonia, produced from natural gas but eliminating emissions by capturing and storing the emitted carbon nearby, a source said.
ConocoPhillips, JERA Propose to Develop US Hydrogen Gas Plant
Gulf Coast plant would produce hydrogen from gas and convert it to ammonia for export.
US Gasoline Futures Fall to Pre-Ukraine Invasion Levels
Lack of spare refining capacity pushed costs for refined products higher, but headed into winter, gasoline prices have started to retreat as demand dips.
US Energy Secretary Urges Refiners Not to Increase Fuel Exports
Energy Secretary Jennifer Granholm, in a letter sent Aug. 18, urged seven refiners including Valero, Exxon Mobil and Chevron, to build supplies of fuels as the U.S. enters peak hurricane season.
Britain Imports No Fuel from Russia in June for First Time on Record
Russia was the U.K.’s largest supplier of refined oil in 2021, the ONS said. By June, there were no imports of refined oil, crude oil, gas or coal, coke and briquettes from Russia.