Archives for June 2019
Maduro-appointed board sues in U.S. for control of Citgo
The board appointed by Venezuela’s president, Nicolas Maduro, to oversee the nation’s state-owned oil company sued in Delaware to regain control of U.S.-based refiner Citgo Petroleum Corp. Source: FuelFix
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BASF to cut 6,000 jobs to drive down costs amid slowdown
BASF SE is cutting 6,000 jobs worldwide in a bid to cut costs as demand slows for chemicals used in industries ranging from cars to electronics. Source: FuelFix
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American refineries reach record capacity rates
More American crude is pumping through U.S. refineries, helping to boost crude oil distillation capacity rates to a nearly 40-year high earlier this year, according to the Energy Department.Crude oil distillation capacity rates are based...
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Exxon Mobil invests in Global Thermostat carbon capture technology
Exxon Mobil said Thursday it’s investing in a new carbon-capture technology firm that aims to economically suck emissions out of the sky near power plants and other large industrial sources. Source: FuelFix
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Which oil buyers have most at stake as Mideast tensions rise?
Tensions in the Middle East are rising to the point where U.S. President Donald Trump has even started talking about who pays for the protection of the Strait of Hormuz, a shipping corridor through which...
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