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What’s Happening: The Unexpected Growth in U.S. Oil Inventories and What It Means for the Industry

Rextag

As winter approaches, the interplay between refinery activity, import volumes, and demand for refined products will be crucial. crude oil inventories grew by 545,000 barrels last week to reach 430.3 million barrels , defying analyst forecasts of an 800,000-barrel decline. million barrels to 389.2 million barrels.

Oil 40
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Fifth Circuit Vacates $6 Million Clean Water Act Penalty

The Energy Law

The case relates to a 2006 oil spill which occurred at CITGO’s Lake Charles, Louisiana, refinery. The District Court determined that quantifying the economic benefit to CITGO was almost impossible given the conflicting evidence presented.

Casing 40
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New Judge, Same Result – $81 Million CWA Civil Penalty Appealed

The Energy Law

Charles refinery. As a result, Judge Haik imposed a civil penalty of $1,500 per barrel spilled – for a total of $81 million – and significantly increased the penalty of $111 per barrel in his original judgment. The EPA sought a penalty of $4,300 per barrel. In the original judgment , U.S. million dollars.