Crude oil
Honeywell to begin work on new transportation fuels refinery in Iraq
UOP LLC, a Honeywell company, said Wednesday that its technology has been selected for a new transportation fuel refinery to be built in Iraq, with design to begin in the second quarter of 2011.
Oil industry job site notes massive yearly decline from Libya amid civil unrest
Oil and gas industry job site OilCareers.com expressed concern over the Libyan market, citing a drastic decline in visits from the country. In April 2010, 4,149 visits were recorded. But in April this year, there were only 13 visits amid the nation’s ongoing civil war, officials said on Wednesday.
NPRA urges approval of Keystone XL pipeline as House committee holds hearing on issue
Charles T. Drevna, president of the National Petrochemical & Refiners Association (NPRA), issued a statement on Monday in support of proposed legislation that would require the Obama administration to decide by Nov.1 whether to approve construction of the Keystone XL pipeline, which would transport oil from western Canada to refineries in Texas.
US can curb carbon emissions while boosting oil production - university study
The US should accelerate efforts to pursue carbon capture and storage (CCS) in combination with enhanced oil recovery (EOR), a practice that could increase domestic oil production while significantly curbing emissions of carbon dioxide (CO2), according to a report from the Massachusetts Institute of Technology (MIT) and the University of Texas at Austin.
China’s Sinopec, Kuwait Petroleum to begin building $9 billion refining complex in Q1 2012
China’s top refiner Sinopec and state-run Kuwait Petroleum Corp. (KPC) will begin construction of their $9 billion joint venture refining and petrochemical complex in China during the 2012 first quarter, reports said on Monday.
US petroleum demand rises in April as distillate gains offset lower gasoline use - API
A strong increase in distillate fuel demand this April over a year ago drove an overall rise in petroleum product demand, offsetting a decline in gasoline demand, the American Petroleum Institute (API) trade group said on Friday.
IEA warns that high oil prices are hurting economy, seeks additional supply for refiners
The governing board of the International Energy Agency (IEA) says it has serious concerns that that the rise in oil prices is constraining the global economic recovery. In a statement issued on Thursday, the board said there was a “clear, urgent need for additional supplies on a more competitive basis to be made available to refiners to prevent a further tightening of the market”, particularly given the seasonal increase in demand from May to August.
Fuel prices unlikely to deter Memorial Day travel – US auto group
The American Automobile Association (AAA) projects 34.9 million Americans will travel 50 miles or more from home during the approaching Memorial Day holiday weekend, a slight increase of 0.2% – or 100,000 travelers – from the 34.8 million people who traveled one year ago.
US Senate blocks two oil bills as Democrats, GOP clash over gas prices
Two oil-related bills were blocked this week in the US Senate along partisan lines, as Democrats and Republicans continue to propose differing solutions to reduce retail fuel prices.
CB&I wins $50mn Canadian oil sands project
Engineering and construction firm CB&I said on Wednesday that it won a $50mn project to build storage tanks at a Canadian oil sands project near Fort McMurray, Alberta.
- 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
