Refining
Plains converting Oklahoma LPG pipeline to crude
Plains All American Pipeline announced Thursday that it is converting an existing Oklahoma liquefied petroleum gas (LPG) pipeline into crude oil service. The pipeline will provide an initial crude oil throughput capacity of 12,000 bpd by January 2012 and will be expanded to 25,000 bpd by July 2012.
Eni CEO: Italy can cope with EU ban on Iran crude
Italy could cope with a potential European Union ban on Iranian crude imports, the top executive of Italian oil major Eni said Thursday, but added that oil payments from the Islamic republic were more of a concern if an embargo was imposed. The EU is mulling an oil embargo against Iran as a sanction against the country's nuclear program.
Chevron to spend record $32.7 billion on capital projects in 2012
Chevron said it expects to spend a record $32.7 billion on capital projects in 2012 as it continues to invest in massive oil and gas projects worldwide. Rivals ConocoPhillips and Marathon Oil recently announced double-digit capital budget increases for next year, showing major oil companies are confident about the sustainability of high oil prices.
Halliburton defends itself against BP oil spill claims
Halliburton responded Wednesday to recent court filings by BP, which accused it of unfavorable results from tests on cement used to plug the leaking well in the Deepwater Horizon disaster.
US regulators issue more spill-related fines to BP
US regulators have issued additional violations to BP for its role in the Deepwater Horizon oil spill, raising the level of fines that the company is likely to pay. The violations lay the foundation for civil penalties that are likely to be imposed by the federal government.
Marathon Oil boosting capital spending by $1 billion
Marathon Oil Corp. said Wednesday that it will increase its capital spending by $1 billion in 2012 as it moves to develop acreage in the Eagle Ford shale of South Texas. The firm plans to spend $4.82 billion on capital projects in 2012, up from its plan to spend $3.89 billion in 2011.
Toyo lands engineering design deal for Canada oil sands refinery project
Toyo has been awarded a contract by North West Redwater (NWR) to provide EDS (engineering design specification) work for a heavy oil upgrading and refining complex in Sturgeon County, Alberta. This complex will process bitumen extracted from oil sands producing naphtha, diesel oil and other petroleum products.
Iran says EU ban on crude imports to hurt Europe
Iran doesn't expect Europe to follow through on its threat to ban imports of oil from the Islamic republic because it would hurt the euro zone's energy security.
Sunoco idles key processing units at Pennsylvania refinery, cites weak market
US refiner Sunoco is indefinitely idling the main processing units at its refinery in Marcus Hook, Penn., citing deteriorating refining market conditions. The company said it also intends to increase the capacity utilization rate of its Philadelphia refinery and will continue to operate the refinery as long as market conditions warrant.
NPRA praises US transition to net fuels exporter
A new report that says growing US exports of petroleum fuels may enable the country to become a net exporter of refined petroleum products this year for the first time since 1949 is good news for the US, according to National Petrochemical & Refiners Association (NPRA) president Charles T. Drevna.
- 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
