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Marathon Petroleum signs offtake agreement for IEnova’s Manzanillo terminal in Mexico

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Highlights Manzanillo is also contracted by BP and Trafigura Terminal will serve Western Mexico, which demands 225,000 b/d of fuel Mexico City — Marathon Petroleum signed an offtake agreement for IEnova’s new Manzanillo marine terminal in Mexico’s Pacific coast, the companies said Tuesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Read More

US to lead oil output growth through 2030: ConocoPhillips chief economist

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Highlights Global oil demand expected to rise modestly to 2030 Refining capacity will adapt to lighter US crudes US crude export constraints seen as temporary Washington — The US will lead global oil production growth for the next decade, and tight oil can continue to grow beyond the 2030s even moderate prices, ConocoPhillips chief economist Read More

PG&E bondholders propose bankruptcy exit plan worth up to $30 billion

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SAN FRANCISCO (Reuters) – A committee of bondholders of PG&E Corp’s utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and pay off its liability from wildfires. FILE PHOTO: A PG&E truck carrying an American Flag drives past Read More

Hackers hit global telcos in espionage campaign: cyber research firm

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TEL AVIV (Reuters) – Hackers have broken into the systems of more than a dozen global telecoms companies and taken large amounts of personal and corporate data, researchers from a cyber security company said on Tuesday, identifying links to previous Chinese cyber-espionage campaigns. FILE PHOTO: A man holds a laptop computer as cyber code is Read More

Infrastructure Networks, Machfu partner to deliver data solutions to the oil field

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6/25/2019 HOUSTON — Infrastructure Networks, Inc. and Machfu have announced that they have entered into a strategic partnership to help oil and gas companies improve the performance of their existing assets by easily connecting them to new cloud solutions. INET will sell, supply and service Machfu solutions, delivered over INET’s wireless platform. Machfu will utilize Read More

Why oil’s outlook could be even bleaker than expected

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By Bloomberg News on 6/25/2019 SINGAPORE and BEIJING (Bloomberg) — As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month. While the Saudi Arabian-led efforts to restrain supply amid surging Read More

Japan’s Suntory joins rival Coca Cola to push Vietnam on plastic recycling

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TOKYO (Reuters) – Japanese beverage giant Suntory Holdings said it would work with rival Coca-Cola as well as Nestle to push the government in Vietnam, among the biggest contributors to plastic waste in the ocean, to create a large-scale recycling system. FILE PHOTO: The logo of Suntory is seen at the Suntory Musashino Brewery in Read More

Saudi Aramco says it can keep oil flowing if Hormuz hit

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By Heesu Lee on 6/25/2019 SEOUL (Bloomberg) –Saudi Arabian Oil has the experience and infrastructure it needs to keep crude flowing should supply through the Strait of Hormuz be disrupted, according to the CEO of the state-run producer.“We are increasing our readiness,” Amin Nasser said in an interview in Seoul on Tuesday. “We can supply Read More

BMW’s hybrid cars to switch to electric only mode in polluted cities

14 hours ago DieselGasoil Comments Off on BMW’s hybrid cars to switch to electric only mode in polluted cities
FILE PHOTO: The BMW logo is seen on a car in Nice, France, April 8, 2019. REUTERS/Eric Gaillard/File Photo FRANKFURT (Reuters) – BMW’s new hybrid cars will automatically switch off their combustion engines in heavily polluted inner city areas and use pure electric driving mode as a way to cut vehicle emissions, the carmaker said Read More