Crude oil
API sees lower US oil, gasoline, distillate demand
The US used the lowest volume of oil in 17 years in November, the API trade group said. With the exception of May, US oil use has fallen year-on-year in each month so far in 2012. Eleven-month demand is down 2.1%, or around 400,000 bpd, from the same period a year earlier.
ExxonMobil sees North America becoming net oil, gas exporter by 2025
The closely watched annual forecast of energy trends, set to be released Tuesday, concludes the growth of US and Canadian oil and gas production has staying power and could lead to more international shipments of oil and gas, said Exxon's vice president of corporate strategic planning, who led the study.
EIA lowers 2012 forecast for US crude oil prices
Spot prices for West Texas Intermediate, the US benchmark, will average $88.51/bbl in the fourth quarter, according to the December edition of the US Energy Department's Short-Term Energy Outlook. That's down from the $89.50/bbl that was predicted in November's report.
Aramco cyber attack targeted Saudi production
The oil giant says an August cyber attack on its computer network targeted not just the company but the kingdom's economy as a whole, seeking to stop oil and gas production. The interior ministry joined Aramco's investigation into the attack that affected some 30,000 of the firm's computers.
Enbridge to expand light oil pipeline network from North Dakota, Canada
The program is one of several projects the big Calgary, Alberta company and others have unveiled this year to respond to booming North American energy output, particularly in the continental Midwest, where pipeline constraints have led to bottlenecks and lower prices for the region's crude.
US energy sector poised for rising M&A activity
Volume and value levels in oil and gas are close to 2011 levels with an increase in mega deals led by private-equity funds that have increased their investment and exposure to the energy industry. PwC said it expects deal activity to rise in 2013, with ongoing consolidation in shale plays very likely.
Plains to buy five crude oil rail terminals in US
The deal includes three crude-oil rail loading terminals in the Eagle Ford, Bakken and Niobrara producing regions, a rail unloading terminal at St. James, La., and a project to construct a crude oil unloading terminal near Bakersfield, Calif. Plains expects to complete the purchase before the year end.
US monthly oil production climbs to 14-year high
Such statistics reflect the US's growing role as a dominant energy producer. Earlier this year, the International Energy Agency said the US could overtake Saudi Arabia as the world's largest oil producer by 2020 - a trend that would transform global energy markets as well as international politics.
Consider coal gasification for liquid fuels production
Due to faster depleting natural gas reserves and more abundant coal reserves, coal gasification and CTL are solutions to produce liquid fuels over the long term.
HP Editorial Comment: The last word
Throughout this year, Hydrocarbon Processing (HP) has investigated the last 90 years of the hydrocarbon processing industry (HPI) through its monthly editorial, Insight. The HPI has a rich history; th..
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