DOE Releases 1 Million Barrels of Crude Oil From Emergency Reserve

DOE Releases 1 Million Barrels of Crude Oil From Emergency Reserve

Energy Secretary Rick Perry announced the release of 1 million barrels of crude oil from the federal Strategic Petroleum Reserve in response to refinery outages caused by Hurricane Harvey. With close to half the country’s oil refineries located on the Gulf Coast, the DOE move … Read more…

Harvey Update: Refineries Shut Down, Gas Prices Soar, but Ultimate Effects Uncertain

Harvey Update: Refineries Shut Down, Gas Prices Soar, but Ultimate Effects Uncertain

While the ultimate effects of Hurricane Harvey on the energy industry are still unclear, one thing is certain: the storm has significantly slowed production. Flooding caused by Harvey has forced some of the country’s largest refineries to shut down, including some owned by Exxon Mobil, Shell, … Read more…

Petrobras Signs $1bn Loan to Finance Cogeneration, Flaring Gas Reduction

Petrobras Signs $1bn Loan to Finance Cogeneration, Flaring Gas Reduction

Brazil’s state-owned oil company Petrobras has signed a loan of up to $1 billion to finance a cogeneration facility and other GHG-reducing efforts. The Japan Bank for International Cooperation (JBIC) will pay $600 million, according to JBIC, while the Bank of Tokyo-Mitsubishi UFJ, which is … Read more…

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