Refining
BridgeTex pipeline to deliver crude from Permian Basin to Houston Gulf Coast
The pipeline will transport up to 300,000 bpd of crude oil, with access to Houston Ship Channel refineries, Texas City refineries and other refineries throughout the Gulf Coast.
Repsol looks to Argentina for YPF compensation
The chairman of Spanish oil major Repsol said the company hopes to arrive at an agreement with the Argentinean government for the nationalization of Repsol subsidiary YPF in April. Argentina seized control of YPF after accusing Repsol of not investing enough in the unit.
REG makes second US biodiesel facility acquisition in three weeks
The US-based Renewable Energy Group (REG) has announced the purchase of a 15-MMgpy biodiesel production plant near Atlanta, Georgia. The company has not yet set a production date for the restart of the facility, which has operated intermittently since January 2008.
BP plans share buyback to stave off takeover bids
The £4 billion share buyback could take place as early as next year. According to the paper, the huge buyback could take place as early as next year. Directors at the oil major are alert to the possibility of an opportunistic bid from a cash-rich rival and have had a defense document on standby for weeks.
US oil demand lowest for October since 1995 – API
Demand was the weakest in October in 17 years, while year-to-date figures are down 2.1% from 2011. "For many months, we’ve seen variations on the same theme: weak demand versus a year ago and some of the weaker demand numbers over the past decade,” said API chief economist John Felmy.
EPA denies request to waive US ethanol mandate for gasoline blending
The EPA said Friday it hadn't found any evidence that its renewable fuel standard is causing economic harm. Cattle ranchers and dairy farmers, who use corn to feed cattle, have complained for several months that the ethanol mandate was driving up demand for dwindling supplies of corn.
Foster Wheeler venture wins FEED work for Canada oil sands processing site
The project, located in northern Alberta, is expected to have an initial production capacity of 90,000 bpd over two phases and an estimated project life of up to 40 years. The project is currently under review by regulators, according to company officials. The contract value was not disclosed.
Aramco picks Técnicas Reunidas for engineering on Saudi refining projects
Técnicas Reunidas will build a hydrocracker plant and a diesel hydrotreater facility for an upcoming 400,000 bpd refinery and marine terminal project that Saudi Aramco is developing at Jazan, in the kingdom's southwest on the Red Sea coast. The facilities are scheduled to be operational by 2017.
US industry sees self-sufficiency for natural gas, but not crude oil – survey
When it comes to oil, however, survey respondents are far less optimistic about the ability to meet American demand with domestic supplies: 54% say the US will never be completely oil self-sufficient, and only 26% of respondents say oil self-sufficiency is achievable in the next 10 years.
Pertamina may buy LyondellBasell French refinery
The LyondellBasell refinery is under restructuring and its refining units are being mothballed through to the end of 2013 after the company was unable to find a buyer. The refinery would be the third to stop operations in France over the past years amid low demand in the region.
- 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
