Crude oil
Sinopec confirms deal with Galp Energia to buy 30% of Brazil assets
China Petrochemical Corp. said Friday that it has signed an agreement to buy a 30% stake in the Brazilian unit of Portuguese oil company Galp Energia SA for $3.54 billion. Galp's assets in Brazil include four deep-water blocks in the Santos Basin, it said.
Shell sees strong interest in proposed reversal of Louisiana-to-Houston pipeline
Shell Pipeline said on Thursday that it has received a “very encouraging response” to its non-binding solicitation of interest period for capacity on its proposed Houma-to-Houston pipeline system reversal project (Ho-Ho Reversal). Subject to customer commitments and regulatory approval, the Ho-Ho Reversal is expected to begin service by early 2013.
Conoco names downstream spinoff Phillips 66, picks Houston for headquarters
ConocoPhillips announced Thursday that its downstream spinoff company will be named Phillips 66 and be headquartered in Houston. ConocoPhillips, which will be a pure-play exploration and production company after the repositioning, will continue to be headquartered in Houston at the existing ConocoPhillips facility.
US delays Keystone XL pipeline until after 2012
President Barack Obama called Thursday for further study of the controversial Keystone XL Pipeline, putting off a final decision until after the 2012 elections and triggering both praise and criticism on Capitol Hill. TransCanada Chief Executive Russ Girling said the company remains confident the pipeline will be approved.
Oiltanking plans two new Houston crude pipelines
The board of directors for Oiltanking Partners has approved expansion projects to build two new crude oil pipelines in the Houston Ship Channel, bringing approximately 1 million bbl of new crude oil storage capacity to the company’s Houston terminal facility. In addition, the company is poised to construct additional crude storage tankage to support the rising customer demand at Oiltanking Houston, it said.
API launches new US advertising campaign against higher oil, gas taxes
American Petroleum Institute (API) chief executive Jack Gerard unveiled a new advertising campaign this week, which he says is to encourage lawmakers on the US Joint Select Committee on Deficit Reduction to focus on job creation and revenues through economic growth rather than what the API calls “punitive tax increases” on industry. The new advertisements are available online for viewing.
Statoil extends Technip contract for pipeline repair services in Norway
Statoil awarded Technip with a two-year extension of its pipeline repair system (PRS) services frame contract until December 1, 2014. This contract covers maintenance and operation of Statoil’s PRS Pool located at Killingøy in Haugesund, Norway.
IEA unveils 2011 World Energy Outlook, says policy changes needed to cut emissions
Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system, the International Energy Agency (IEA) warned as it launched the 2011 edition of the World Energy Outlook (WEO). "Governments need to introduce stronger measures to drive investment in efficient and low-carbon technologies," said IEA executive director Maria van der Hoeven.
Kinder Morgan to invest in $400mn oil terminal at Houston Ship Channel
Kinder Morgan Energy Partners said on Tuesday that it will join with Battleground Oil Specialty Terminal Co. (BOSTCO) - a venture with TransMontaigne Partners - in building, owning and operating a new $400 million oil terminal on the Houston Ship Channel. Construction of the tanks is expected to begin this year upon completion of binding definitive customer agreements.
API poll sees rising US support for Canadian oil use
A significant majority of American voters would like the US to rely more on oil from Canada to meet domestic needs, rather than from other countries, according to a new poll. Voters feel better about importing oil from Canada knowing that Canadian oil sands development and the Keystone XL pipeline will bring significant job creation in the US for Americans and increase the nation's energy security, according to the API trade group.
- Malaysia plans to produce sustainable jet fuel in 2027 11/27
- ADNOC launches $80-B low-carbon energy and chemicals investment company 11/27
- Chevron sees California's fuel inventory law raising prices for customers 11/27
- Clariant’s MegaMax™ catalysts to power China’s first biomass-to-green methanol project 11/27
- easyJet, Renavia and WFS sign MoU for long-term supply of SAF 11/27
- Cyclyx to invest in second Cyclyx Circularity Center 11/27
