3 days North Dakota Oil Pipeline Prevails Over Environmentalists 3 days Iran Says It Will Return To Nuclear Compliance After U.S. Lifts Oil Sanctions 3 days China Sets World Record For Deep-Sea Drilling In Disputed South China Sea 3 days Total’s $5-Billion Uganda Project Set For Imminent Go-Ahead 3 days Democrats Propose $8 Billion Bill To Clean Up Abandoned Wells 4 days Libya’s Largest Oilfield Could See Exports Interrupted 4 days Smaller Oil Tanker Rates Recover After OPEC+ Agrees To Ease Cuts 4 days U.S. LNG Exports Fall From Record Highs 4 days Oman s State-owned Oil Company QQ Mulls IPO 4 days Biden’s Plan Looks To Eliminate $35 Billion Fossil Fuel Subsidies
Here are some selected news articles from the week ended 06 March 2021. Part 2 is available here.
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Fuel supplies drop most on record as US oil refining collapses, leading to largest ever jump in oil supplies
Refinery utilization at an all time low, 10% lower than it s ever been; oil refined is least on record; record jump in oil inventories, record drop in gasoline inventories; distillates production at a 26 year low, distillates inventories drop most in 18 years; largest jump in oil imports in 39 weeks.
Courtesy of Marcellus Air
Environmental and public health advocates want the Pennsylvania Department of Health to expand the scope of a pair of studies on fracking and health effects.
The studies are looking into whether fracking has any relationship with the incidence of childhood cancer, asthma and poor birth outcomes.
The state funded the research after pressure from families in Washington County who have lost children to Ewing sarcoma, a rare type of bone cancer.
So far the studies are designed to examine only activities at oil and gas well pads and compressor stations. But groups representing the families met with Department of Health officials, including interim director Alison Beam, on Monday to ask that the study be expanded to include facilities that handle fracking waste, which can contain high levels of radioactive materials.
Energy is leading the market in 2021 after a miserable year where it lost 32.6%. The energy sector of the S&P 500, as measured by the Energy Select Sector SPDR Fund (XLE), is already up 39.8% through March 5, which dwarfs the S&P 500âs return of 0.33% so far this year. Source: MarketWatch
Investors must ask: Why is the energy sector outperforming, how does the petroleum refining industry that drives it operate and can the momentum continue?
This comprehensive research report introduces the petroleum refining industry and breaks down its structure, firm conduct, performance and trends to watch going forward.
Industry introduction
The petroleum refining industry encompasses the market involved in products derived from the refining of crude oil. These products span a wide range including gasoline, diesel, jet fuel, petrochemicals like benzene and toluene, and heavy products such as asphalt.Â