IlluMyFi

After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves in the country this year. Guyana’s government and the U.S. supermajor are looking to nail down a timeline to develop some of the gas resources in the eastern part of the Exxon-operated…

Sentiment

Bearish/Bullish

21.12.24 10:00

by oilprice.com

Debunking the Myth of Oil Refiner Price Gouging in California

In 2022, California Governor Gavin Newsom signed SB-1322, the Oil Refiner Price Disclosure Act, into law. The legislation was hailed as a major step toward transparency, requiring refiners in California to report detailed monthly data on their gasoline profit margins. Specifically, refiners must disclose: The cost of crude oil purchased The wholesale price of gasoline sold The gross and net profits earned per gallon of refined gasoline Supporters, including consumer advocacy groups like Consumer Watchdog, argued that SB-1322 would expose “excessive...

United States of America