Refining
Tesoro to convert Hawaii refinery to import terminal
Tesoro had been trying to sell the 94,000 bpd refinery since January 2012 because of eroding profit margins. The conversion to an import facility, expected to occur in April, will allow Tesoro to cut costs related to processing fuel there while still allowing the company to distribute fuel in the state.
South Korean refining margins boosted by exports
For the January-March period, South Korean refining margins are expected to recover on the back of "rises in [global] kerosene and diesel oil prices amid expanding demand for heating oil" and an "upswing in the chemical business," Hyundai Securities said in a research note.
Phillips 66 signs oil-by-rail contract for Bayway refinery in New Jersey
The contract with Global Partners also cements North Dakota crude's hold in the East Coast refining belt, where two other refiners already get Bakken crude by rail.
Eni reports Gela refinery working normally again after port suspension
Port authorities Friday authorised a new tugboat to start work in Gela after a suspension had meant that ships couldn't service the refinery for days, which would have eventually resulted in a stoppage at the plant. The Gela refinery has a daily production of about 100,000 bbl of oil.
Valero venture to construct Texas marine terminal
Valero's marine terminal will receive crude tankers of up to Suezmax class, and will be able to operate without the daylight restrictions imposed on other terminals in the upper Sabine-Neches waterway. The crude dock is scheduled for completion in the fourth quarter of 2013.
Motiva shuts leaky CDU at expanded Texas refinery
The Motiva refinery is jointly owned by Shell and Saudi Arabian Oil Co. The new crude unit is the culmination of a $10 billion expansion project that added 325,000 bpd of capacity and made the refinery one of the largest in the world. The unit, first commissioned in May, has experienced several setbacks.
Enbridge plans pipeline expansions in Canada, US
The Canadian pipeline company, which in November announced it would go ahead with a C$1.8 billion expansion of the system in the oil-rich province of Alberta, said the latest expansion will add 230,000 bpd of capacity. Enbridge said the expansion will involve increased pumping horsepower.
Saudi Arabia secures diesel imports for this year amid rising fuel needs
Saudi Aramco has bought diesel under term contracts for 2013 from multiple suppliers including BP, Shell, and Phillips 66, Singapore-based traders say. The country used to be a key exporter of oil products but is increasingly importing more oil products due to strong domestic demand.
US votes to reinstate biodiesel tax incentive
The $1/gal incentive was first implemented in 2005, though Congress has allowed it to lapse twice. It will be reinstated retroactively to Jan. 1, 2012, and to the end of 2013.
Calumet completes acquisition of NuStar refinery, terminal near San Antonio
The acquired assets include a refinery in San Antonio, Texas with crude oil throughput capacity of approximately 14,500 bpd. The refinery produces ultra-low sulfur diesel, jet fuel, specialty solvents, reformates, naphtha and vacuum gas oil. The aggregate deal price was $115 million.
- NAPCOR releases 2024 PET recycling report highlighting system efficiency gains and continued strength of PET circularity 12/12
- OQ courts other partners for petrochemical complex in Oman as SABIC drops out 12/12
- Brazil's BNDES approves $71 MM for carbon storage project 12/12
- Cuba on edge as U.S. seizure of oil tanker puts supply at risk 12/12
- China oil demand to plateau between 2025 and 2030 12/12
- Germany's PCK refinery says no impact from pipeline leak 12/12
