Crude oil
Bill introduced in US Senate that would repeal tax breaks for major oil firms
US Senators introduced a bill on Tuesday that would repeal tax breaks for the five biggest oil companies, including Shell, ExxonMobil, BP, Chevron and ConocoPhillips.
API praises US House bill to restart US offshore leasing, calls for more domestic production
American Petroleum Institute executive vice president Marty Durbin said he supports the House Natural Resources Committee’s efforts to focus on the need to produce more of America’s oil and natural gas resources, which would create more jobs for workers and more revenue for government, the API says.
BP adds Rosneft as partner in German refining JV
BP has added Rosneft as its new partner in its German refining joint venture, Ruhr Oel GmbH (ROG).
LINN Energy inks $220mn deal for oil, natural gas assets in Texas, Oklahoma
LINN Energy announced on Monday that it signed an agreement with Panther Energy and Red Willow Mid-Continent to acquire 40% of their oil and natural gas properties located in Ochiltree and Lipscomb Counties, Texas and Ellis County, Oklahoma for $220mn, subject to closing conditions.
Consultancy KBC predicts global refining margins under pressure through 2015
Energy consultancy KBC Advanced Technologies foresees global refining margins continuing under pressure as recovering global demand is met by a wave of new refining capacity construction, keeping global refining utilisation rates at around 85% of nameplate capacity at least through 2015.
India plans to raise capacity at Bina refinery to 9mn tons/year - reports
India’s state-owned Bharat Petroleum (BPCL) will raise capacity at its Bina refinery in Madhya Pradesh to 9mn tons/year, reports indicated on Friday.
Total completes deep conversion at Port Arthur refinery, new units on-stream
Total on Thursday announced the completion of a three-year, $2.2 billion expansion of its Port Arthur refinery, with all new units successfully started and on-stream.
Kinder Morgan buys $920mn in US shale assets, will build $220mn crude/condensate pipeline
Kinder Morgan Energy Partners (KMP) has agreed to pay approximately $855mn to Petrohawk Energy and assume approximately $65 million in debt for Petrohawk’s 50% interest in KinderHawk Field Services (the natural gas gathering and treating services provider in the Haynesville Shale) and a 25% interest in Petrohawk’s natural gas gathering and treating business in the Eagle Ford Shale.
New NGL fractionation facility to be built in Mont Belvieu, Texas
Energy Transfer Partners (ETP) and Regency Energy Partners will construct a 100,000 bpd natural gas liquids (NGL) fractionation facility at Mont Belvieu, Texas, through their Lone Star NGL joint venture.
Shell starts up new production from Canada oil sands expansion
Shell announced the successful start of production from its Scotford upgrader expansion project in Canada. The 100,000 bpd expansion takes upgrading capacity at Scotford to 255,000 bpd of heavy oil from the Athabasca oil sands.
- 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
