Washington was running out of gasoline on Friday, even as the country's largest fuel pipeline network ramped up deliveries following a cyberattack and U.S. officials assured motorists that supplies would return to normal soon.
China will introduce hefty taxes on imports of light cycle oil (LCO), mixed aromatics and diluted bitumen from June 12 aiming to curb imports blamed for worsening a fuel surplus and polluting the environment.
Regulators in the cities of Shanghai and Tangshan warned local steel companies on Friday against price gouging, collusion and spreading false market information, following a surge in prices to record highs during recent weeks.
U.S. President Joe Biden on Thursday reassured U.S. motorists that fuel supplies should start returning to normal this weekend, even as more filling stations ran out of gasoline across the Southeast nearly a week after a cyber attack on the nation's top fuel pipeline.
Oil prices fell about 3% on Thursday as India's coronavirus crisis deepened and a key U.S. fuel pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after forecasts for a rebound in global demand later in the year.
Total SE plans to raise gasoline production at its 225,500 barrel-per-day (bpd) Port Arthur, Texas, refinery after drawing down the fuel in full storage tanks, sources familiar with plant operations said on Thursday.
In Tampa, Florida, a third of the city's gas stations were out of fuel on Thursday. In Miami, outages stood at nearly 40% and growing as residents rapidly filled up their tanks in response to a temporary shutdown of the Colonial Pipeline.
U.S. refiner Valero Energy Corp was granted a Jones Act waiver, sources familiar with the matter said on Thursday, after a cyberattack shut the Colonial Pipeline late last week, creating a fuel crunch in several parts of the U.S. Southeast and Northeast.
Democratic Senator Martin Heinrich on Thursday introduced a bill that would help states that rely on oil and gas revenue weather the U.S. transition away from fossil fuels by offering federal support to help fill gaps in state and school budgets hit by a decline in oil and...
President Joe Biden said on Thursday that Colonial Pipeline should be reaching full operational capacity right now and he expects to see fuel normalcy this weekend, after an attack on the company triggered fuel shortages and panic buying in the southeastern United States.
Shortages of gasoline at retail stations in the U.S. Southeast became more widespread on Thursday after days of panic buying triggered by a major pipeline shutdown that is now in the early stages of an attempted restart.
Colonial Pipeline paid nearly $5 million to Eastern European hackers on Friday after a crippling cyberattack that shut the largest fuel pipeline network in the United States, Bloomberg News reported, citing two people familiar with the transaction.
Global investment in energy transition technologies needs to more than double over the next few decades to significantly reduce the cost of renewables, which are set to provide around 60% of the world's energy needs by 2050, industry officials say.