IlluMyFi

Polish special services are currently investigating whether Orlen Trading Switzerland, a subsidiary of Polish refiner Orlen (PKN.WA), may have violated sanctions regarding the import of oil from Russia or Iran, broadcaster Radio Zet reported on Thursday. This investigation represents just the latest inquiry directed at the state-controlled company, following allegations of artificially lowering prices ahead of the 2023 election and selling assets below fair value for the purposes of acquiring a smaller peer. Orlen has denied breaching any sanctions.…

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Bearish/Bullish

15.05.24 12:00

by oilprice.com

Consumers Sue U.S. Shale Alleging Collusion to Boost Oil Prices

U.S. shale producers have been preaching and practicing capital discipline since the price crash of 2020 and haven’t deviated from their pledge to focus on shareholder returns instead of oil production growth since then. Some of the biggest independent U.S. shale firms may have started to finally please investors with meaningful returns, but they have angered consumers. Some of these consumers of retail gasoline, diesel, and marine fuels allege that the ‘discipline’ in capital allocation has actually been a collusion to boost...