Oil prices continue to defy even some of the most pessimistic expectations, with U.S. crude falling below $48 per barrel earlier this week in response to another Chinese stock-market meltdown.
Second-quarter 2015 profit for Total S.A. (NYSE:TOT) nearly mirrored year-ago results as higher refining and petrochemical margins helped the French oil and gas major minimize a 50% slide in crude prices.
San Antonio-based refiner Valero Energy Corp. posted a robust second-quarter (2Q) profit as its refining margins and throughput capacity utilization rates rose to take advantage of cheap oil for the production of higher-priced refined fuel products.
Novvi, a renewable oils joint venture between California-based Amyris and Brazilian sugar cane and ethanol producer Cosan, recently announced that its engine oils have been certified by the American Petroleum Institute.
Emeryville, Calif.-based Amyris Inc. recently announced that it signed definitive agreements for the conversion and restructuring of about $175 million of debt, to be converted to Amyris common stock, with an additional $5 million of debt converted into joint-venture (JV) ownership by its JV partner, Total S.A.
U.S. corn-ethanol production dipped to the lowest level in nine weeks for the week ended July 24, while ethanol stocks were little changed from a week prior, according to the U.S. Energy Information Administration.
Tesoro Corp. held talks to buy smaller rival oil refiner HollyFrontier Corp. earlier this year in a bid to join the top echelons of the competitive U.S. refining industry, according to people familiar with the matter.