Refining
US equipment finance sector shows rapid growth, survey says
New business volume grew 16.5% in the equipment finance industry in 2011, according to the 2012 Survey of Equipment Finance Activity (SEFA) released by the Equipment Leasing and Finance Association.
EPA to propose US biofuel fraud fix by end of 2012
Refiners and oil importers are required to buy certain amounts of fuel made from plants every year under a 2005 law designed to reduce US oil imports. But the market has been in turmoil since last year, when it became clear that some companies were selling fraudulent numbers.
Flash fire injures contractors at BP Indiana refinery
When the fire ignited, the three injured contractors were performing maintenance work on a 105,000 bpd hydrotreater, according to news agency Reuters. BP said the three contractors were in stable condition at a local hospital. Two were being treated for burns and one for smoke inhalation.
Shell picks Jacobs as European downstream services provider
Under a five-year deal, Jacobs will perform work ranging from feasibility studies and small plant modifications to discrete projects for major Shell refining and chemical sites.
Calumet to buy gasoline, middle distillates producer Montana Refining
The deal should close in the 2012 fourth quarter. Montana Refining owns and operates a 9,800 bpd refinery in Great Falls, Montana. The refinery has a complexity rating of 9.3, with crude oil feedstocks sourced primarily from Canada. It produces gasoline, middle distillates and asphalt.
Tesoro buys BP refinery, logistics in California for $2.5 billion
Upon regulatory approval, Tesoro will acquire the 266,000 bpd Carson refinery near Los Angeles along with a related logistics network of pipelines and storage terminals.
US safety board launches full investigation into Chevron refinery fire
A CSB team with seven investigators arrived at the refinery last Wednesday and has since been conducting witness interviews and reviewing documents at the site. Important issues include understanding why the pipe that later failed was kept in service during a late 2011 maintenance turnaround.
Chevron crude unit at fire-hit California refinery may be out six months
Investigators reportedly found serious damage in the cooling towers, pipe racks and heater tower. Some of the refinery’s secondary units are continuing to operate using feedstock stored at the site, but no decision has been made on whether Chevron will buy additional feed or shut the units during repairs.
Global refinery runs poised to rise amid growth in developing countries
The IEA forecast shows that despite concerns about growth in emerging economies, such as China, demand from there is still growing and refining margins still have room to improve. China's crude intake is likely to increase in the coming months, just at a slower pace than previously expected.
India oil product demand to slow in months ahead
The EIA's monthly forecast is broadly in line with domestic projections. Summer energy demand recently peaked, and it will likely fall off over the next few months, barring unforeseen contingencies. The government has announced plans for $1 trillion in infrastructure investments over the next five years.
- 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
