Refining
US refining profits poised to drop in 2012
As a WTI cost advantage fades, the sluggish US economy will play a bigger role in profits made from the sale of refined petroleum products.
Spain's Repsol buys Russian oil company Eurotek
Spanish oil company Repsol said Thursday it has agreed to buy Russian oil firm Eurotek for $230 million, its second deal in the country in as many weeks. The deal follows the Dec. 20 announcement of a new joint venture with Russian-Kazakh peer Alliance Oil Co.
Petrobras halts some Reduc refinery ops after fire
Brazilian state-controlled oil producer Petroleo Brasileiro, or Petrobras, said it halted operations at a distilling unit at its Duque de Caxias, or Reduc, oil refinery in Rio de Janeiro state Monday due to a small fire. The incident won't cause any shortfall in products output.
OPEC agrees to accomodate rising Libya oil output
Libya's oil minister Abdurahman Benyezza said that there is a "gentlemen" agreement inside OPEC to accommodate the country's crude oil as production recovers. Libya is currently producing over 1 million bpd of crude oil and expects to boost output to pre-war levels of about 1.6 million bpd by mid-2012.
US energy R&D spending forecast up 23% for 2012
Energy-related research and development (R&D) sponsored by US manufacturers and technology firms will reach nearly $6.7 billion in 2012, up 23.1% from 2011, according to a forecast from research group Battelle. Overall, global spending by energy-related companies is expected to grow by 7.8% to reach $17.9 billion.
US fuel prices may become volatile after Northeast refinery closures
The Energy Information Administration (EIA) warns that a lack of supply flexibility could lead to price spikes in early 2012.
ExxonMobil to consolidate businesses of fuels marketing, lubricants
The ExxonMobil board of directors will approve the consolidation of ExxonMobil Fuels Marketing Co. and ExxonMobil Lubricants & Petroleum Specialties Co. into ExxonMobil Fuels, Lubricants & Specialties Marketing Co., effective February 1, 2012.
PBF plans $1bn Delaware City refinery expansion, includes new hydrocracker
US-based refiner PBF Energy and affiliate Delaware City Refining Co. on Thursday announced the $1 billion PBF clean fuels project, which includes the construction of a mild hydrocracker and hydrogen plant to be built at their Delaware City refinery. When completed, it will process streams from both the Delaware City refinery and PBF’s Paulsboro, N.J. refinery.
India refinery runs increase 9.2% in November
India's refinery runs in November rose a sharp 9.2% from October as Essar Oil resumed normal operations at a 14 million ton refinery after a 35-day shutdown. The refinery runs topped the government's target of 13.71 million tons, or 3.35 million bpd.
US coal industry sees limited 2012 upside - report
Softer export markets and natural gas displacement will outweigh benefits of lower stocks and consolidation for US coal producers in 2012, according to a new report. Domestic steam coal demand is in slow decline, and Fitch Ratings says it expects supply to remain disciplined.
- Sinopec, Aramco start building $10-B petchem complex in China's Fujian province 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
