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Officials eye explosion at California fuel site after quake

“County health officials later lifted the shelter in place order affecting about 12,000 people” reports thebusinessjournal.com. The earthquake struck about 15 miles (24 kilometers) southeast of the NuStar Energy fuel storage facility in Crockett.About 200 firefighters fought the flames with foam and water, trying to prevent it from spreading to other tanks containing jet fuel and ethanol. Source: thebusinessjournal.com

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IMF chief: trade conflicts fuel synchronized global slowdown

“Those discussions are expected to be dominated by the global growth slowdown, the trade conflicts and concerns over what the impact of a messy exit by Britain from the European Union could do to European growth prospects” reports thebusinessjournal.com. The lasting solution to the trade conflicts will require cooperation from all countries, Georgieva said.IMF Managing Director Kristalina Georgieva said that an updated IMF forecast to be released next week will show growth falling to its lowest point since the beginning of this decade.(AP) — The new head of the 189-nation…

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Revenues from fuel price rise should be given to low-income people: Rouhani

“During a session of the council on July 13, the amendments to the national budget plan for the current calendar year (started on March 21) were approved” reports tehrantimes.com. During a session of the council on July 27, four strategies to compensate for budget deficit were approved.They are aimed at reducing the country’s dependence on oil money and promoting economic stability under the umbrella term “resistance economy” ordered by Supreme Leader of the Islamic Revolution Ayatollah Ali Khamenei. Source: tehrantimes.com

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California wasted no time in suing the Trump administration over its push to eliminate the state’s authority to independently regulate greenhouse gas emissions from cars.

“The lawsuit is California’s 60th challenge against the Trump administration and its second legal brawl over the fuel economy standards” reports washingtonexaminer.com. California’s lawsuit is the latest blow in the fight between the state and the Trump administration over the future of fuel economy standards. Source: washingtonexaminer.com

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Fuel Shortage Has Cubans Waiting Hours for Gas

“Around Havana, drivers spend days hunting desperately for gas, calling friends and updating online chat groups with sightings of diesel, regular and higher-octane fuel at gas stations” writes Michael Weissenstein for pbs.org. HAVANA (AP) — A fuel shortage blamed on the Trump Administration has turned filling a tank in Cuba into an ordeal even for a country used to waiting in lines. Source: pbs.org

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Payouts from insurance policies may fuel ransomware attacks

“Businesses aiming to thwart hackers or repair their damage have grown rapidly in response, including insurance providers offering policies that cover ransom payments” writes The Associated Press for seattletimes.com. In recent years, ransomware has become much more common, fueled by cryptocurrency that makes it easier for hackers to receive and then spend the payouts. Source: seattletimes.com

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With lines and blackouts, Cubans suffer fuel crisis…

“WhatsApp groups have sprung up around the burning question of the day: “Where can I get fuel?”” writes Katell Abiven for yahoo.com. Since President Miguel Diaz-Canel’s shock announcement on September 11 that the country was facing the fuel shortfall, widespread uncertainty and a degree of panic have gripped the nation.In public companies and offices, schedules have been cut back, air conditioners have hummed to a halt and electricity blackouts imposed for a few hours a day.The fuel shortage is indicative of the country’s currency crisis. Source: yahoo.com

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News Oil 

Saudi Arabia looks to import oil in order to keep exports flowing

“Much of what Saudi Arabia exports is unrefined crude oil” writes Summer Said for marketwatch.com. Saudi Arabia isn’t normally an importer of crude and is ordinarily a net exporter of refined oil products.To maintain its reputation as a reliable supplier, the world’s largest oil exporter is looking to buy crude oil from at least one of its neighbors and additional oil products from the global market, oil traders said.After attacks on the country’s largest oil facilities, Saudi Arabia is reaching out to foreign producers for crude and other petroleum products,…

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Saudi attacks rattle shippers’ plan to switch fuels

“The outage has crimped global supplies of diesel, which Saudi Arabia regularly exports in large volumes” writes Midwest Communications Inc for 95kqds.com. “We’re losing diesel supplies, at least temporarily, because Saudi Arabia will prioritize restoration of oil exports over refinery output,” he said.LONDON/NEW YORK (Reuters) – Refinery outages in Saudi Arabia following weekend attacks on its oil facilities could deal a blow to the shipping industry’s preparations for the biggest switch in fuel standards in decades.When processed, both sour grades produce a large proportion of high-sulphur fuel oil (HSFO), a…

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