Refining
Gunvor to raise $500mn credit for Belgian refinery crude oil, feedstock
The funds will be used to finance the purchase of crude oil and feedstock for the refinery. Cyprus-based Gunvor, one of the world's largest independent traders of commodities, bought the Antwerp refinery from insolvent Swiss-based refiner Petroplus Holdings AG earlier this year.
EPA to make 'necessary' US biofuel credit changes
The comments from EPA officials, made in prepared testimony for a House hearing, were the agency's first public commitment to make changes to the program. Oil refiners, which are required to buy the credits, have faced millions in fines and added costs as a result of buying phony credits.
Chevron sees improving US refining margins in Q2, but weaker international
US-based Chevron expects significantly stronger downstream earnings in the 2012 second quarter, buoyed by improved refining margins in the US and gains on asset sales. However, international refining margins declined over the same period, the company said.
BP targets wind, biofuels within alternative energy
Katrina Landis, CEO of BP's alternative energy business, said at a gathering of the Atlantic Council in Washington that the company is ahead of schedule in its investment plans. BP projects biofuels will make up 30% of the gasoline pool by 2030 and sees cellulosic ethanol as the energy to watch.
Gevo, Beta agree to develop integrated process for cellulosic isobutanol
The deal also anticipates commercialization of the technology upon project success, which could enable renewably-sourced, competitively-priced jet fuel as well as other chemicals and fuels made from isobutanol.
EIA lowers US price estimates for refined products, oil prices in 2012
The agency said retail gasoline prices would average $3.49/gal in 2012, down from $3.56 in the June estimate. The EIA said 2012 retail diesel prices are expected to average $3.79/gal, down from $3.90/gal. The EIA said heating oil would average $3.64/gal for 2012, down from the June estimate of $3.71/gal.
Aramco ships Europe fuel oil to Red Sea, eyes more
Saudi Aramco is shipping fuel oil from Northwest Europe to the Red Sea to meet Saudi Arabia's peak summer demand, taking advantage of arbitrage economics that have been favorable up until recently.
Coryton refinery becomes latest casualty of Europe industry doldrums
The site will live on in radically changed form as a distribution terminal employing no more than 50 permanent staff, a tenth of the current staff of 500 - which doesn't include an equal amount of contractors. A first batch of 180 dismissal notices were handed out in late June, with more to follow.
DuPont picks KBR for engineering contract on Iowa cellulosic ethanol project
KBR will provide front-end engineering, detailed engineering and procurement services to DuPont’s industrial biosciences group for the plant to be constructed in the Midwest US. The ethanol facility is designed to process 1,300 tpd of corn stover and produce 27.5 million gal/year of ethanol.
ExxonMobil mulls sale of German Esso gas stations
ExxonMobil is in preliminary talks with various parties, some of whom might be from Russia or eastern Europe, the Bloomberg report cited people as saying. Two of the people said the unit, which includes more than 1,100 gas stations, could fetch more than €1 billion ($1.3 billion) in a sale.
- Sinopec, Aramco start building $10-B petchem complex in China's Fujian 11/18
- Clariant EnviCat N2O-S catalyst to cut CO2eq by 690,000 tpy at Hengli’s nitric acid plant in China 11/18
- Neste and PCS to bring renewable solutions to Southeast Asia’s chemicals industry 11/18
- 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
