Phillips 66 Hikes 2026 Capex To $2.4 Billion
Houston, Texas-based refiner Phillips 66 (NYSE:PSX) has increased its 2026 capital budget to $2.4 billion, including $1.3 billion for growth capital and $1.1 billion for sustaining capital. In the Midstream…
Russia Weighs Extending Gasoline Export Ban
Russia could extend the ban on gasoline exports by the end of February from the current end-date December 31, 2025, state news agency TASS reported on Monday, quoting sources familiar…
EU Targets Russia’s Oil Shadow Fleet With New Sanctions
The European Union on Monday slapped sanctions on nine entities and individuals for supporting Russia’s shadow fleet moving oil, as the bloc seeks to further restrict Moscow’s ability to generate…
U.S. Wants EU to Exempt Its LNG from Methane Regulation
The United States insists that the European Union exempt it from obligations to report data under the EU Methane Regulation until 2035, Reuters reported on Monday, citing a U.S. document…
Tanker Fleet Crunch Forecasts Strong Rates Through Early 2026
Oil tanker rates are set to stay elevated in early 2026 as crude supply is rising while the number of available vessels is shrinking due to the U.S. sanctions on…
Kazakhstan Battles Big Oil in $3.5 Billion Arbitration Case
Kazakhstan expects a court ruling on its $3.5-billion lawsuit against international majors by the end of this year, Energy Minister Yerlan Akkenzhenov said on Monday as the country is suing…
Solarig to invest over $400m in Polish biomethane platform
Spanish sustainable energy company Solarig plans to invest more than PLN 1.5bn ($416–420m) to expand biomethane operations in Poland through its renewable gases division, Biorig. The investment will support the…
Middle East Crude Prices Sink to Two-Month Low Against Brent
Key crude prices in the Middle East have dropped to their weakest level against the Brent benchmark in two months, signaling oversupplied markets as output from both the Middle East…
Europe Reconsiders Its 2035 Ban on Gasoline Cars
The European Union is backtracking on its plan to prohibit the sale of new combustion-engine passenger cars after 2035, as the de facto ban came under fire from major carmakers…
Strategists Say Oil’s Fermi Paradox Nearing an End
In an oil and gas report sent to Rigzone recently by the Macquarie team, Macquarie strategists, including Vikas Dwivedi, noted that oil’s “Fermi Paradox [is] nearing an end”, adding that…
