Record-breaking summer heat is forcing fuelmakers to cut back operations, just as dwindling supplies are causing gasoline prices to surge around the world. The hottest-ever June and July prompted refiners to curtail oil processing by at least 2 percent globally as long stretches of triple-digit heat posed a threat to operations, according to Vikas Dwivedi,

The current moves of OPEC+ to cut oil production are enough to support the market, Suhail al-Mazrouei, the energy minister of the United Arab Emirates (UAE), told Reuters on Friday. The actions the OPEC+ group has taken so far are sufficient, according to the OPEC heavyweight the UAE. “What we are doing is sufficient as

·     The United States and Europe are locked in a subsidy race for the energy transition. ·     Economists are warning that huge subsidies could trigger a new wave of inflation. ·     Poorer EU member states are crying unfair game on the part of the wealthy ones. Journalists are calling it a subsidy

OPEC will likely maintain an upbeat view on oil demand growth for next year when it publishes its first outlook later this month, predicting a slowdown from this year but still an above-average increase, sources close to OPEC said. OPEC’s forecast for 2024 will likely be lower than the growth it expects this year of

The United Arab Emirates plans to invest as much as $54 billion on renewables over the next seven years as part of efforts to reach net zero emissions by 2050. The nation is targeting a threefold increase in the share of energy produced from renewable sources over the period and will focus on hydrogen as

The three-day CPHI China 2023 has come to an end, which is an industry event and a global exhibition for the pharmaceutical raw materials industry. After two years of absence, Nanjing Shunxiang received unanimous praise upon its appearance, and the crowd flowed incessantly at the exhibition. Nanjing Shunxiang’s booth also attracted domestic and foreign customers

·     Tighter supply conditions are on the horizon in global crude markets. ·     The 1 million bpd extra production cut from Saudi Arabia is set to tighten physical oil markets in July. ·     Global macro-economic headwinds keep oil prices back. Oil and gas drilling in the U.S. shale patch is slowing down.

The three-day “21st World Pharmaceutical Raw Materials China Exhibition” and “16th World Pharmaceutical Machinery, Packaging Equipment and Materials China Exhibition” (CPHI&PMEC China 2023) officially started a new journey in Shanghai New International Expo Center on June 19! At the exhibition, there was a surge of people, attracting over 3000 domestic and foreign exhibitors as well

France will invest $218.78 MM to boost the production of sustainable aviation fuels (SAF) as part of measures to make the French and the European aviation industry greener, President said on Friday. The 200 million euros will notably help fund the construction in Lacq in southwestern France of a SAF production plant. Aviation is seen

Japan plans to invest 15 trillion yen ($107.5 billion) over the next 15 years to supply the country with hydrogen, the government said on Tuesday, as it accelerates efforts to use the gas to shift to a low-carbon economy. Around the world, countries are competing to develop hydrogen as a means of reducing emissions in