BP’s 440,000-barrel-per-day Whiting refinery in Indiana is in the process of restarting after severe flooding disrupted operations earlier this week, Reuters reported on Wednesday, with industry monitor IIR saying it would take several days to fully ramp the plant up, with full capacity expected by early next week.  The outage followed a powerful thunderstorm that caused flooding and led to visible flaring. While IIR provided a projected restart schedule, BP has declined to comment on the refinery’s timeline, Reuters reported.…

BP’s 440,000-barrel-per-day Whiting refinery in Indiana is in the process of restarting after severe flooding disrupted operations earlier this week, Reuters reported on Wednesday, with industry monitor IIR saying it would take several days to fully ramp the plant up, with full capacity expected by early next week.  The outage followed a powerful thunderstorm that caused flooding and led to visible flaring. While IIR provided a projected restart schedule, BP has declined to comment on the refinery’s timeline, Reuters reported.…

Global oil markets are facing a period of short-term pressure as production swells, but Canadian energy fund manager Eric Nuttall says the groundwork is already being laid for the next major bull market in crude. Speaking to BNN Bloomberg, Nuttall, a partner at Ninepoint Partners, said he remains bearish on oil for the remainder of 2025 as inventories rise and new supply comes online. But he expects a powerful reversal in 2026 as the market absorbs spare OPEC+ capacity and balances the influx of new production from South America. “We have…

BP’s 440,000-barrel-per-day Whiting refinery in Indiana is in the process of restarting after severe flooding disrupted operations earlier this week, Reuters reported on Wednesday, with industry monitor IIR saying it would take several days to fully ramp the plant up, with full capacity expected by early next week.  The outage followed a powerful thunderstorm that caused flooding and led to visible flaring. While IIR provided a projected restart schedule, BP has declined to comment on the refinery’s timeline, Reuters reported.…

Russia’s Far East is grappling with acute fuel shortages after a new wave of Ukrainian drone strikes forced multiple refineries offline, squeezing supplies just as seasonal demand rises. According to The Moscow Times, queues have formed at filling stations in Khabarovsk and Primorsky regions, with some depots rationing gasoline as refiners halt operations for repairs. The outages come on top of cumulative damage that has sidelined nearly 13% of Russia’s refining capacity in recent months. Ukrainian outlets including NV.ua reported that…

Russia’s Far East is grappling with acute fuel shortages after a new wave of Ukrainian drone strikes forced multiple refineries offline, squeezing supplies just as seasonal demand rises. According to The Moscow Times, queues have formed at filling stations in Khabarovsk and Primorsky regions, with some depots rationing gasoline as refiners halt operations for repairs. The outages come on top of cumulative damage that has sidelined nearly 13% of Russia’s refining capacity in recent months. Ukrainian outlets including NV.ua reported that…

Via Metal Miner The Stainless Monthly Metals Index (MMI) moved sideways, with a modest 0.32% increase from July to August. Though it also remained flat for the month, the nickel price continued on an overall downtrend. Stainless Mills Note Weak Demand Despite a round of price hikes in recent months, the stainless market remains weak, with no evidence of a turnaround. Supplier financial results from Q2 indicate that while tariffs improved pricing conditions for mills, U.S. service centers struggled amid lackluster market conditions. For example,…

After years of ratcheting tensions between nuclear-armed rivals China and India, which actually came to literal blows along their disputed Himalayan border over the last several years - including the deadly 2020 Galwan valley clashes among rival troops, which left dozens dead and wounded - relations between the two Asian regional powers are thawing fast. Monday and Tuesday have seen a major breakthrough during Chinese Foreign Minister Wang Yi's two-day visit to Delhi, where he declared that India and China should view each other as "partners" rather…

In Tbilisi, whether you are inching through traffic or weaving down side streets, you cannot escape the same slogan splashed across the backs of some passing cars: “Build Your Dreams.”  That is a branded motto etched onto vehicles made by BYD, China’s largest automaker. Each vehicle is a moving data point in a quiet shift, signaling the rise of Chinese electric vehicles on the streets of the Georgian capital, home to nearly half of the country’s population, as well as in other cities. According to official data for…

South Korea is urging its struggling petrochemicals sector to slash excess capacity and restructure operations amid a global glut that has depressed petrochemicals margins and threatened the industry in many Asian and European countries. China, South Korea, and other Asian petrochemical producers have faced free-falling margins in recent months, with many companies struggling to break even. In Europe, the crisis in the petrochemicals industry has a different root cause – high energy costs – but the result is the same, a struggling industry.…

Crude oil inventories in the United States decreased by 6 million barrels during the week ending August 15, after growing by 3 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 420.7 million barrels according to government data, which is 6% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crude oil inventories…

Global oil demand jumped in June by more than 1 million barrels per day (bpd) from May, while production growth has half that figure, leaving inventories at below the five-year averages, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. Oil demand in 48 JODI-reporting countries surged by 1.23 million bpd month-on-month and by 638,100 bpd year-on-year in June, according to the most recent data by JODI shared by the Riyadh-based International Energy Forum (IEF). The monthly surge in global demand was driven mainly…

Global oil demand jumped in June by more than 1 million barrels per day (bpd) from May, while production growth has half that figure, leaving inventories at below the five-year averages, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. Oil demand in 48 JODI-reporting countries surged by 1.23 million bpd month-on-month and by 638,100 bpd year-on-year in June, according to the most recent data by JODI shared by the Riyadh-based International Energy Forum (IEF). The monthly surge in global demand was driven mainly…

Russia launched 270 drones and 10 missiles against Ukraine on August 19, in a kinetic response to Ukrainian President Volodymyr Zelenskyy's White House talks with US President Donald Trump and key European allies. Ukrainian regional officials said that over 24 hours Russian shelling across the Kharkiv, Donetsk, Zaporizhzhya, and Kherson regions had claimed the lives of 15 people and injured at least 76 more. It was reported that the Poltava region was hit particularly hard, leaving over 1,500 residents without electricity. In Chernihiv, drones…

Ithaca Energy, one of the biggest independent oil and gas companies in the UK North Sea, raised its 2025 production guidance for the second time this year, on the back of a strong first-half performance. Following average production of 123,600 barrels of oil equivalent per day (boe/d) for the first half of the year, Ithaca Energy on Wednesday upgraded its full-year production range to 119,000–125,000 boe/d from 109,000-119,000 boe/d previously expected. Ithaca Energy has more than doubled its oil and gas production and became the largest…

Ithaca Energy, one of the biggest independent oil and gas companies in the UK North Sea, raised its 2025 production guidance for the second time this year, on the back of a strong first-half performance. Following average production of 123,600 barrels of oil equivalent per day (boe/d) for the first half of the year, Ithaca Energy on Wednesday upgraded its full-year production range to 119,000–125,000 boe/d from 109,000-119,000 boe/d previously expected. Ithaca Energy has more than doubled its oil and gas production and became the largest…

Fuel oil imports into China jumped by 40% in July to the highest level in seven months as falling refining margins raised refiners’ interest in lower-cost feedstock and the province of the independent refiners increased tax rebates on imports. China’s fuel oil imports jumped to about 401,000 barrels per day (bpd) in July, up by 40% compared to the prior month, and up by 42% compared to July last year, according to customs data cited by Reuters. Chinese fuel oil imports had started recovering in June, following an 18-month low in May.…

A couple of years ago, Bloomberg New Energy Finance (BNEF) made a bold prediction that wind and solar energy will make up half of the planet’s electricity generation by the middle of the century, thanks to the rapid transition to low-carbon energy. However, the intermittent nature of these sources makes large-scale storage critical as renewable energy becomes the dominant power source, with the experts predicting that battery storage is set to boom in the coming years. And now experts at Wood Mackenzie have put a number on it, saying the…

When Aramco listed on the Tadawul stock exchange in Riyadh, many hailed the move as the listing of the decade and bet on whether it would immediately reach top market cap status. Six years later, Aramco has turned into something of a disappointment—because of oil prices. One could argue with confidence that December 2019 was perhaps not the best time to list a major oil company, but that was only clear in hindsight, after the 2020 Covid lockdowns destroyed demand for crude oil, plunging prices deep down. Yet the rebound in demand that followed…

With Russia focused on Ukraine, Washington is stepping up its efforts to ensure that Moscow cannot re-establish itself so easily in its previously vital strategic Middle East and North Africa strongholds of Syria and Libya. The U.S. and Great Britain were instrumental in the removal from power of longtime Libyan leader Muammar Gaddafi in 2011 and in the similar ousting of Syria’s long-term president Bashar al-Assad in 2024. Over the 23 years, Washington and London appear to have learned that quickly putting into place a plan to ensure economic…