Refining
SK Energy to invest $1.4bn on paraxylene plant at Incheon refining complex
SK Energy will build a paraxylene plant with a capacity of 1.3 million tons a year and will build a condensate splitter and a reformer, SK Innovation said in a statement. Commercial production is slated to begin in the second half of 2014, and SK Energy will target sales to the growing Chinese market.
Energy Transfer buys US refiner Sunoco for $5.3bn
Energy Transfer Partners agreed to acquire independent refiner Sunoco in a $5.3 billion deal that would greatly expand the reach of its pipeline system but could also saddle the company with aging refineries. Energy Transfer will also gain Sunoco's relatively successful chain of 4,900 gasoline stations.
Delta Air to buy Conoco refinery in Pennsylvania
Delta Air Lines will soon own the 185,000 bpd Trainer refinery complex near Philadelphia while entering into strategic sourcing and marketing deals with BP and Phillips 66.
BASF chief executive expects no drop in oil prices
German chemical company BASF doesn't expect oil prices to fall in the foreseeable future, CEO Kurt Bock said Friday at the firm's annual general meeting. Whether the company can pass on higher costs to customers will depend on how the economy develops, he said.
Italy's Eni sees challenging 2012 on weak economy, competition from renewables
On the energy markets, Eni said gas demand is expected to be weak due to the economic slowdown and increasing competition from renewables. The Italian company has one of the biggest gas operations in Europe. "The troubles on the financial markets are not over," an executive said.
Klesch, other buyers in talks to acquire Petroplus refinery in France
French Energy Minister Eric Besson said talks are underway with Swiss privately held Klesch Group and other potential buyers for the acquisition of a French refinery that belongs to Petroplus. The refinery is located in Petit-Couronne and is reported to have a capacity of 161,800 bpd.
Motiva completes Port Arthur refinery expansion, becomes largest in US
The new 325,000 bpd crude unit that started processing is combining with existing units to raise capacity to 600,000 bpd, making the Texas refinery the largest in the US.
Pöyry wins engineering on UPM Finland biorefinery
The Pöyry Industry business group has been awarded a contract for detail engineering in the UPM biorefinery project in Lappeenranta, Finland. The Lappeenranta biorefinery is UPM's first step in a strategy toward becoming a key player in advanced biofuels production, officials said.
PdVSA to expand El Palito refinery via Japan loans
The Venezuelan government has secured $1 billion in loans from a consortium of Japanese companies, led by the Japan Bank for International Cooperation, most of which will go toward expanding the South American country's El Palito refinery. Venezuela has aimed to increase shipments to Asian markets.
Hess to spend $45 million on pollution controls at New Jersey refinery
Hess will pay an $850,000 civil penalty and install new pollution controls in a settlement to resolve US Clean Air Act violations at its 70,000 bpd refinery in Port Reading, N.J.
- 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
