Crude oil
Canada issues patent for new heavy oil upgrader
Executives with Ivanhoe said that a new patent was issued in Canada related to Ivanhoe's proprietary HTL (heavy-to-light) heavy oil upgrading process. The new patent, issued in the name of Ivanhoe Energy, covers petroleum applications of the core HTL process and protects the HTL process itself as well as the upgraded products produced from the HTL process.
US refiner Sunoco expands retail fuels network into Alabama
US refiner Sunoco announced Tuesday that it has added 13 new Sunoco-branded sites to its growing network of more than 4,900 retail locations selling transportation fuels and convenience items.
Mississippi ranked as world's top spot for oil and gas investment
Mississippi is ranked as the top place in the world for oil and gas investment, according to the opinions of international petroleum executives and managers in the annual Global Petroleum Survey, released today by the Fraser Institute.
Total unloads UK downstream marketing assets
Total has signed a sale and purchase agreement to sell most of its marketing assets in the UK, the Channel Islands and the Isle of Man to Rontec Investments, a consortium led by Snax 24, an independent forecourt operator in the UK.
Release of strategic oil reserves: New form of economic stimulus
On June 23 International Energy Agency (IEA) members announced the release of 60 million barrels of strategic oil reserves over a month—the equivalent of 2 million barrels per day (bpd) for 30 days. Half of this amount—30 million barrels—will come from the US Strategic Petroleum Reserve (SPR), which currently holds 726.5 million barrels of crude. The release of 60 million barrels over 30 days will temporarily increase world oil supply by about 2.3 percent.
IEA nations to tap oil reserves as supply disruptions continue in Libya
International Energy Agency (IEA) executive director Nobuo Tanaka announced Thursday that the 28 IEA member countries have agreed to release 60 million bbl of oil in the coming month in response to the ongoing disruption of oil supplies from Libya.
NPRA blasts US role in opening of oil reserves
The National Petrochemical & Refiners Association (NPRA) criticized the decision by the Obama administration to contribute 30 million bbl of oil from US strategic reserves, part of 60 million bbl to be tapped by International Energy Agency (IEA) member countries.
Transocean blames BP in new Gulf oil spill report
Transocean announced the release of an internal investigation report on the causes of the April 2010 Macondo well incident in the Gulf of Mexico, blaming rig operator BP for failing to properly assess, manage and communicate risk to its contractors.
Weatherford, BP reach Gulf oil spill settlement
Oilfield equipment maker Weatherford agreed to pay BP $75 million to settle potential claims between the companies related to the Deepwater Horizon accident.
Praxair inks hydrogen supply deal for Motiva refinery in Louisiana
Reinforcing its strategy to meet growing customer demand in the Mississippi River corridor, Praxair said it signed a long-term agreement with Motiva to supply hydrogen to Motiva’s Norco refinery Louisiana.
- U.S. labor board judge rules Exxon's Texas refinery union lockout was legal 11/28
- U.S. crude stocks fall, gasoline and distillate inventories rise 11/28
- Maersk could use 15%–20% alternative fuels for its fleet in 2030 11/28
- Germany's BSW pushes to restore Russian oil to Schwedt refinery, seeks regional legitimacy 11/28
- Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs 11/28
- Singapore distillates stocks tick up for fifth week 11/28
