Crude oil
BHP Billiton chairman urges US to promote exports of onshore oil, natural gas
Jacques Nasser, BHP Billiton chairman since 2010, says the export of onshore oil and gas, which has surged in recent years as new extraction techniques have been developed, will bring geopolitical benefits around the world and also create a large number of highly skilled jobs.
SABIC signs research pact with MIT to develop unconventional feedstocks
The agreement paves the way for SABIC and MIT to work together to develop new practical innovation for the company’s solutions and processes in order to meet global needs from developing unconventional feedstocks to innovating new material solutions, SABIC said in a statement.
Eni crude business in Iran may lead to US sanctions
Eni's daily output in Iran averaged 3,000 bbl of oil equivalent in 2012, representing less than 1% of the company's total production. Eni said its refining and marketing division bought 498,000 metric tons of Iranian crude in 2012, paying the country's state oil company $396 million.
Saudi downplays shale boom outside US, Canada
The extra supply is not a competitive threat because it costs more to produce than oil in most of OPEC's member countries, a Saudi official said. "There are many difficulties that face the production activities of shale oil... most importantly, the high production cost which amounts to about $70 to $80/bbl."
Phillips 66 to build rail-unloading facility for crudes at Washington refinery
The unloading facility would allow a train with 100 or more railcars to pull up at the refinery and have its cargo pumped to existing storage tanks, according to an application filed with the Northwest Clean Air Agency. The unloading facility would be able to transfer about 12,800 bbl of oil per hour.
Shell pipeline spills oil into Houston-area bayou
Shell clean-up crews were working to clear the crude out of Vince Bayou, a waterway that connects to the Houston Ship Channel, which leads into the Gulf of Mexico, said Coast Guard Petty Officer Steven Lehman. The spill was contained but the total amount of oil was still being verified.
China to overtake US as largest oil importer
OPEC, whose members supply more than one in three barrels of crude consumed worldwide, said rising Chinese imports were backed by increased throughput at the country's refineries. The group quoted recent analysis saying China's oil imports could top 6 million bbl this year.
TransCanada eyes East pipeline for Alberta crudes
TransCanada has been mulling the plan publicly for months, amid a growing glut of oil in Western Canada that has depressed prices. The plan involves converting part of an existing gas pipeline, TransCanada's Mainline network, for crude-oil service, and building about 870 miles of new pipeline.
Arkansas officials to probe Exxon pipeline spill
The attorney general's office is investigating the causes of ExxonMobil's ruptured pipeline that spilled thousands of gallons of oil into a small town neighborhood last week.
Evaluate challenges in meeting clean-fuel specifications with heavier crude
At a Saudi Aramco refinery, a revamp was planned for processing a different crude oil blend to meet Euro 5 diesel and gasoline specifications. The refinery, which processes semi-light crude oil, is sc..
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