Refining
China may raise fuel prices amid tighter standards
The National Development and Reform Commission, China's top economic planning agency, said higher costs to improve nationwide fuel quality will be borne by both the refining industry and its consumers.
Total to lower investments starting in 2014, could cut refining capacity
In a briefing with media ahead of a meeting with investors and analysts, Total's chief financial officer Patrick de la Chevardiere noted that the group is considering cutting capacities at some refineries. "We're going to adapt our footprint to European demand," he said, without elaborating.
India approves new HPCL refinery in Rajasthan
Hindustan Petroleum will own 74% of the project, while the Rajasthan state government will own the rest. The refinery, located in Rajasthan's Bamer town, is expected to go on stream in four years.
Norway nixes big carbon capture project at Statoil refinery in Mongstad
The project has been both challenging and costly, and the risks are now seen as too big to go through with it, the government said. Statoil said it has no plans to shut down the refinery, which ran a surplus in 2012 for the first time in years, and was going through a cost savings program.
European refining sector needs further closures
Europe's refining businesses must slim down further and then pump billions of dollars into what remains, according to the head of European refining trade group Europia.
Finland’s Neste Oil plans to exit shipping business
Under the plan, Neste Oil will sell five tankers and three tugs to companies owned by Finland's National Emergency Supply Agency and the Ilmarinen Mutual Pension Insurance Company.
Foster Wheeler to help upgrade Russian Far East refinery in Khabarovsk
The objective of the project is to produce more higher-value, lighter products. The complex includes a hydrocracker, hydrotreater, hydrogen unit, amine regeneration unit, sour water stripper, sulfur recovery unit, vapor recovery unit, waste water treatment unit, ground flare, tank farm and pump houses.
China unveils subsidies for fuel-efficient vehicles
The program is to "speed development of the new-energy automobile industry, reduce emissions and help control pollution," the ministry said in a statement published on its website.
Korea National Oil to shop Newfoundland refinery
Korea National Oil Corp., which inherited the 115,000-bpd Come By Chance refinery when it bought Harvest Energy in 2009, has hired Deutsche Bank to sell the facility, according to people familiar with the matter. It is unclear how much, if anything, the refinery could fetch from a buyer.
Brazil to allow Petrobras to raise gasoline prices
The price increase of about 8% for gasoline at the refinery gate would help shore up Petrobras's finances ahead of the sale of Brazil's largest offshore oil discovery under new production-sharing deals.
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- Germany's PCK refinery says no impact from pipeline leak 12/12
