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US gas prices will surge even higher thanks to shrinking stockpiles and refinery bottlenecks, Rystad Energy says
Wholesale gas prices fell this week, but the drop is only temporary, Rystad said. It expects supply…
Harry Robertson
Bottlenecks at oil refineries have sent US gas prices soaring to top $5 a gallon and the crisis is unlikely to end soon
The surge in gas prices is hurting American drivers — and President Joe Biden. But analysts s…
Harry Robertson
Russian oil exports to Italy have more than quadrupled due to unintended consequences of Western sanctions
Russia has exported about 450,000 barrels per day of crude to Italy this month, the most since 2013.
Brian Evans
Video appears to show Ukrainian kamikaze drone attack on oil refinery in Russia
The apparent attack on the Novoshakhtinsk oil refinery caused a large fire and forced it to pause o…
Sinéad Baker
Germany's takeover of Russian refineries frees the nation from dependence on Moscow, Chancellor Olaf Scholz says
"We are making ourselves independent of Russia, and any decisions that are taken there," Scholz sai…
Phil Rosen
A German refinery partly owned by Moscow has started mixing US oil with Russian crude
The refinery in Schwedt is partly owned by state-run energy giant Rosneft and has long relied on Ru…
Phil Rosen
Germany seizes control of 3 oil refineries owned by Russian giant Rosneft to brace for winter energy crisis
Germany said the seizure "counteracts the impending threat to the security of the energy supply" af…
Zahra Tayeb
Elon Musk spoke about crystal balls, bank lending, self-driving cars and lithium refineries this week. Here are his 10 best quotes from Tesla's Q1 earnings call.
Musk warned of "stormy weather" ahead, flagged Tesla's key challenges, and touted its Dojo supercom…
Theron Mohamed
India to release 5 million barrels of crude oil from strategic reserves on US request
This is the first time ever that India, which stores 5.33 million tonnes or about 38 million bar…
PTI
A Bill Gates fund invested $50 million in a startup that's building a massive refinery to turn alcohol into jet fuel
LanzaJet, which makes jet fuel from ethanol, received the grant from the Gates-led Breakthrough Ene…
Stephen Jones
Wildlife officials have found more than 100 birds covered in oil after Hurricane Ida caused a spill at a refinery
Alligators, river otters, and nutria - large, semiaquatic rodents - have also been found covered in…
Kelsey Vlamis
Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says
"2023 is not going to be a cakewalk for motorists. It could be expensive," said Patrick De Haan, he…
Zahra Tayeb
BPCL supplies free oxygen, opens 100-bed make-shift COVID treatment centre at Kochi Refinery premises
The oxygen will be supplied through a dedicated stainless steel pipeline. To reach out in fa…
PTI
BP has purged its European refineries of Russian oil and expects to be rid of most long-term contracts with the Kremlin by year's end
"We're working incredibly hard to eliminate Russian molecules from the system," BP CEO Bernard Loon…
Brian Evans
Your morning coffee is about to get more expensive
The US is running low on coffee due to a drought in Brazil and congested shipping ports. Say goodby…
Hillary Hoffower
Over 5 million barrels of US reserve oil were exported to Asia and Europe last month as domestic refineries run at full capacity, report says
The exports follow similar shipments of Strategic Petroleum Reserve crude in April, when three ship…
Brian Evans
ONGC set to merge refining subsidiary MRPL with HPCL by June 2021
Sources said that the process of merging ONGC's two oil refining subsidiaries, HPCL and MRPL, wi…
Oil's worst turbulence since 'Black April' has passed, the IEA says, even as coronavirus cases surge and inventories grow
The oil market has made some headway since "Black April," when prices turned negative for the first…
Shalini Nagarajan
Edible oil brands continued advertising in print and radio while others shied away during the lockdown; Ad Volumes per publication in Print increased by 93%: TAM
Radio saw a hike by 3% during the lockdown period.
Oil refineries improve run rate; Reliance cuts crude processing for 3rd straight month
RIL refineries processed 5.312 million tonnes of crude oil in May, down 12.5 per cent over the…