Refining
Rosneft to buy entirety of Russian TNK-BP venture
A Rosneft takeover of TNK-BP would bring the Russian state's control over oil production to nearly 50% and mark a major milestone in Mr. Putin's reassertion of Kremlin control over the strategic oil sector, much of which was sold off in the privatizations of the 1990s to well-connected tycoons.
Saudi Aramco chooses engineering contractors for Jazan refinery project
The Jazan refinery and terminal project is a 400,000 bpd refinery with associated terminal facilities on the Red Sea near Jazan. Scheduled for completion in late 2016, the refinery will process Arabian Heavy and Arabian Medium crude oils, and produce gasoline, ultra-low sulfur diesel, benzene and paraxylene.
Valero looks to sell two California refineries
Valero, one of the largest US refiners, operates a 78,000-bpd refinery in Wilmington outside Los Angeles and a 132,000-bpd refinery in Benicia, in the San Francisco Bay area. Together the plants represent about 10% of the company's US refining capacity. Valero has not yet put a price tag on the refineries.
HPI spending pegged for slight increase in 2013
Even with healthy predictions for expenditures, market players are remaining cautious when making decisions on key projects as they await regulatory clarity. The forecast breaks out capital spending to reach $57.6 billion and maintenance spending to reach $69 billion.
API sees falling US demand for gasoline, distillates
Demand for gasoline dropped 2% from a year earlier, to 8.572 million bpd, the API said. The nine-month average demand of 8.73 million bpd was down 0.7% from the same time in 2011. September demand for distillate fuel (heating oil/diesel) was 4% below the year-earlier level, at 3.777 million bpd.
China's teapot refiners plot expansions to escape government crackdown
Government policies in the resources sector in recent years have caused the closure of hundreds of small Chinese coal mines and cement and steel factories but a similar push in oil refining is playing out differently, including through ventures with state companies.
EU proposes to reduce use of food-based biofuels
The European Commission is proposing to limit the share of energy from food crop-based biofuels to no more than 5% of the total energy used in the transport sector in 2020. That represents roughly the current amount of food crop-based biofuels used in EU transport fuels.
TransCanada shuts Keystone oil line to inspect pipe
The anomaly, found in a section of the pipeline in Missouri, wasn't a leak, a TransCanada spokesman said. The stoppage was taken as a preventative measure and wouldn't affect the oil shipments to customers "for now," and TransCanada was working with shippers to mitigate any interruptions.
Praxair starts up Peru gas plant to supply refinery
The new plant utilizes the latest energy efficient technology and has a production capacity of approximately 300 tpd of oxygen, nitrogen and argon. The unit will generate gaseous oxygen for the refinery and liquefied industrial gases to meet growing demand in the region.
Sudan in talks with Essar Energy, other companies to upgrade two refineries
The minister said Sudan aims to double the capacity of one of the refineries from 25,000 bpd and increase capacity of the other refinery to 50,000 bpd, up from 15,000 bpd. He didn't give any timeline.
- CTCI awarded $417-MM EPC contract to build ethylene storage in Qatar 11/15
- Russian refineries cut oil runs due to losses, closures loom 11/15
- Spain's Moeve swings to quarterly loss on weak refining margins 11/15
- Asia naphtha supply expected to remain tight over next two years 11/15
- Countries, companies lag in response to tackle methane emissions, U.N. says 11/15
- U.S. energy draws up a wish list for new Trump administration 11/15
