Refining
OPEC boosts group oil production to highest level since '08 recession
Acting to dampen market nervousness amid Iran supply fears, OPEC on Thursday said it was pumping more oil than the market needs - at levels not seen since summer 2008 - and signaled demand destruction had been halted for now. Crude production was up 317,000 bpd month on month.
Petroplus finds buyer for Swiss refinery in Cressier
Varo Holding SA, the joint venture between oil trader Vitol and AtlasInvest, has agreed to buy the 68,000 bpd Cressier refinery in Switzerland from beleaguered Swiss refiner Petroplus. Varo intends to restart the refinery and continue refining operations. The deal is expected to close in the 2012 second quarter.
PetroChina eyes idled Valero refinery in Aruba
PetroChina is reportedly in talks to buy the 235,000 bpd refinery for $350 million. After a January restart, Valero suspended operations in March, citing poor economics.
TransCanada to start building Keystone oil terminal
TransCanada said Wednesday that it successfully concluded an open season for the Keystone Hardisty terminal project. Based on the commitments, the company is expanding the proposed 2 million bbl of crude oil batch accumulation tankage and pipeline infrastructure to a 2.6 million bbl terminal.
Petroplex to build major Louisiana liquids terminal
Petroplex International says it has raised capital to move forward with plans to build a $600 million bulk liquid terminal in St. James Parish, Louisiana, with a projected initial storage capacity of 4 to 6 million bbl. Construction is expected to commence during the first half of 2013, with start up in 2014.
Exxon restarts part of Louisiana pipeline after spill
ExxonMobil Pipeline Co. has restarted part of its North Line oil pipeline in Louisiana, which was shut down April 28 because of a leak, Reuters reported Monday citing a spokeswoman. The stretch of North Line affected by the leak, northwest of Baton Rouge, remained shut, according to the company.
UOP licenses 'green' diesel production technology to US transport fuels firm
Honeywell’s UOP has agreed to license technology to Emerald Biofuels to produce the company’s Green Diesel at a facility in Louisiana. Chemically identical to petroleum-based diesel, Honeywell’s Green Diesel can be used in any proportion in existing fuel tanks without infrastructure changes.
HollyFrontier CEO says US fuel markets are healthy
HollyFrontier expects to increase its refining rate by 3% in the second quarter after finishing refinery maintenance at the beginning the year. Despite forecasts of a lackluster fuel demand amid a sluggish economy, HollyFrontier has seen solid fuels sales in its home region, its CEO said.
TransCanada resubmits Keystone XL application
TransCanada says it resubmitted an application for a US permit for its controversial Keystone XL oil-pipeline expansion, rejected by the White House earlier this year after it became a political flashpoint before this year's presidential election. The White House acknowledged receipt of the application.
Reliance taps Fluor for project management in India on downstream expansions
Reliance Industries has selected Fluor to perform project management services for projects being executed at its world-scale Jamnagar refining and petrochemical complex on the west coast of India in Gujarat. The proposed coke gasification facility is among the largest-such projects ever built.
- 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
- Russia's Ilsky refinery has asked for gov't help over high rates, modernization 11/18
- North Dakota (U.S.) approves Summit Carbon pipeline permit 11/18
- China's oil refinery output falls from a year ago for a seventh month 11/18
- European oil giants step back from renewables path 11/18
