U.S. oil major Exxon Mobil Corp, along with Chevron Corp, is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.
By Reuters Staff
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FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File Photo
(Reuters) - U.S. crude stocks fell for the 11th straight week as refiners ramped up output, but fuel inventories grew sharply due to weak consumer demand, the Energy Information Administration said on Wednesday.
Crude inventories fell by 5.2 million barrels in the week to June 4 to 474 million barrels, the 11th straight weekly inventory decline as refiners have boosted output as the economy recovers after the COVID-19 pandemic and in anticipation of more summer driving.
The increasingly effective green backlash against oil majors by activists and shareholders is a welcome development for the aviation industry as it prepares to raise its own environmental goals, the head of global airline body IATA said on Friday.
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NEW YORK (Reuters) -U.S. retail gasoline prices hit seven-year highs on Monday and many filling stations in the Southeast were still without fuel as the region slowly recovers from a cyberattack on the nation’s largest fuel pipeline.
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Last week’s closure of Colonial Pipeline’s 5,500-mile (8,900-km) system was the most disruptive cyberattack on record, preventing millions of barrels of gasoline, diesel and jet fuel from flowing to the East Coast from the Gulf Coast. That alarmed drivers, who took to gas stations to fill tanks and jerry cans.
Last week more than 15,000 gas stations were without fuel. Some stations have since been supplied, with Colonial once again operating. On Monday, 11,667 stations were without fuel, down from 12,466 stations the previous day, according to tracking firm GasBuddy.
By Reuters Staff
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FILE PHOTO: Annalena Baerbock, Germany s Green party co-leader and a top candidate for the national election in September, speaks at a news conference after a party leaders meeting in Berlin, Germany, April 26, 2021. Markus Schreiber/Pool via REUTERS/File Photo
FRANKFURT (Reuters) - The German Green party’s candidate for chancellor, Annalena Baerbock, plans to cut jet fuel subsidies and abolish short-haul flights if she comes to power, she told weekly Bild am Sonntag.
The Greens are riding high in the polls ahead of Germany’s Sept. 26 election, with a very good chance of joining the next coalition government or even taking over the chancellery.