Oil and Gas 360 After years of delays and running $7 billion over budget, Pemex’s CEO says the company’s new Dos Bocas (Olmeca) 340,000 bpd refinery will reach maximum production by the end of March. The new refinery will produce 170,000 bpd of gasoline and 120,000 bpd of ultra-low sulfur diesel, increasing Pemex’s fleet-wide output forecasts by 60% to 1.05
World Oil (WO) — The American Petroleum Institute (API) issued a statement from President and CEO Mike Sommers in response to reports that the Biden administration is considering changing the implementation timeline for its proposed tailpipe emissions standards: “Reports that the EPA is moving forward with a de facto ban on new gasoline-powered cars shows the Biden administration is significantly
Oil and Gas 360 Ethanol’s Last Stand U.S. ethanol producers are on the cusp of calamity, but hopes are growing for policy-driven longevity. Summary: Ethanol Producers’ Last Stand: Declining gasoline demand forecasts present a catastrophic risk to an industry born out of the EPA’s renewable fuel standards, which mandate ethanol blending in fuels. The industry’s lobbying could pay off, however,
Oil Price Rising global demand for energy and oil is set to keep crude oil prices elevated, OPEC’s Secretary General Haitham Al Ghais told the BBC in an interview published on Tuesday. Oil demand is expected to rise by around 2.4 million barrels per day (bpd) this year compared to 2022, and by another 2 million bpd next year, Al Ghais said.
Yahoo Finance (Bloomberg) — Oil is headed as high as $150 a barrel unless the US government does more to encourage exploration, according to Continental Resources Inc., the shale driller controlled by billionaire Harold Hamm. Source: Reuters Crude output in the Permian Basin will one day peak as it already has in rival shale fields such as the Bakken region
World Oil (Bloomberg) – U.S. oil production is being held back by inconsistent energy policy, Chevron Chief Executive Officer Mike Wirth said. “I hear people say, ‘We’re back up to record levels of production,’” Wirth said during the American Energy Security Summit in Oklahoma City on Monday. “With better policy, we would be beyond that.” Source: World Oil Energy policy needs
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