Refining
Enbridge buys Conoco stake in US Seaway pipeline, will reverse crude oil flow
Enbridge has acquired ConocoPhillips’ 50% interest in the US Seaway Pipeline for $1.15 billion and has agreed with joint owner Enterprise Products to reverse the direction of crude oil flow, allowing it to carry discounted West Texas Intermediate (WTI) from Cushing, Oklahoma, to the US Gulf coast.
TransCanada CEO: Keystone XL still most competitive Gulf coast pipeline
TransCanada Corp. chief executive Russ Girling said Wednesday the Keystone XL pipeline is still the best alternative to bring Canadian crude to the US Gulf coast despite a delay and a re-route imposed by the US government last week. Girling also said Keystone's shippers remain supportive of the project, due to its progress through planning and regulation.
Enterprise Products cancels Wrangler pipeline plan
Enterprise Products said Wednesday it will cancel its Wrangler pipeline project in favor of reversing the Seaway pipeline to bring crude oil from Cushing, Okla. to the Gulf Coast. "For all intents and purposes, this project takes the place of Wrangler," the company said.
TransCanada: Keystone reroute agreement could speed approval process
TransCanada Corp. said it reached a tentative deal with Nebraska officials that would move the planned route of its Keystone XL pipeline project away from an environmentally sensitive region, possibly reviving a stalled approval process for the controversial oil conduit.
IHS acquires downstream market research firm Purvin & Gertz
Consultancy group IHS has acquired Purvin & Gertz, a global advisory and market research firm that provides technical, commercial and strategic advice to international clients in the petroleum refining, natural gas, natural gas liquids, crude oil and petrochemical industries.
Keystone delay causing tremors among big oil, benefiting small refiners
The US State Department's decision to delay TransCanada Corp.'s expansion of its Keystone pipeline system sparked quick concern in the North American energy industry. The move would delay completion of the project by a year and a half, according to the American Petroleum Institute (API).
IEA lowers China’s oil demand forecast
The International Energy Agency has slightly lowered its 2012 forecast for Chinese oil demand due to an anticipated slowdown in that country's economy, but revised up its forecast for India's oil demand next year by the same amount. China's gross domestic product in the third quarter rose 9.1% from a year earlier but was down from a 9.5% growth in the second quarter and 9.7% in the first.
Libya oil output resuming far faster than expected
Oil production in Libya is resuming far faster than initially expected and is on track to reach 0.7 million bpd, almost half its pre-war level, by the end of this year, said the International Energy Agency Thursday. Shortly after the IEA upgraded its forecasts, Libyan oil officials said another of the country's largest fields could restart within a week.
Sinopec confirms deal with Galp Energia to buy 30% of Brazil assets
China Petrochemical Corp. said Friday that it has signed an agreement to buy a 30% stake in the Brazilian unit of Portuguese oil company Galp Energia SA for $3.54 billion. Galp's assets in Brazil include four deep-water blocks in the Santos Basin, it said.
Shell sees strong interest in proposed reversal of Louisiana-to-Houston pipeline
Shell Pipeline said on Thursday that it has received a “very encouraging response” to its non-binding solicitation of interest period for capacity on its proposed Houma-to-Houston pipeline system reversal project (Ho-Ho Reversal). Subject to customer commitments and regulatory approval, the Ho-Ho Reversal is expected to begin service by early 2013.
- 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
