Refining
Sudan reaches agreement with China's CNPC to revamp Khartoum refinery
A deal to revamp the 100,000 bpd Khartoum refinery was reached over the weekend during talks between Sudanese Petroleum Minister Awad Ahmed Al Jaz and CNPC vice president Wang Dongjin. The refinery is a joint venture between the Sudanese government and CNPC.
US to overtake Saudi Arabia as top oil producer, says IEA
A shale oil boom means US production will pass that of Saudi Arabia by 2020, the IEA says, in a radical shift that could greatly transform energy supplies and geopolitics. The assessment is in stark contrast with last year, when the agency envisioned Russia and Saudi Arabia vying for the top position.
PdVSA to restore Amuay refinery output this year
PdVSA has on multiple occasions missed targets for resuming normal operations at Amuay. Reuters reported earlier that the company is waiting for replacements for parts that were damaged in the blast, which, once installed, will restore Amuay to pre-explosion processing levels.
TransCanada expects Keystone XL approval after Obama re-election
Supporters of the project say it will create jobs, lower gasoline prices and spur US energy independence by greatly increasing the amount of available crude supply. However, the project has drawn the ire of the Sierra Club and other environmental groups, which are worried about safety.
Shell to set up global technology hub in Bangalore
The company said the Bangalore site will become operational by around the middle of the decade and will have up to 1,500 technology specialists. It will provide technology services to exploration, production, refinery, chemical and other businesses, according to a company statement.
US energy groups target Keystone approval, shale as Obama wins second term
Obama won the US election with 332 electoral votes, far exceeding the 270 required to win. Republican challenger Mitt Romney finished with 206. “Right off the bat, the president can approve the Keystone Pipeline and put thousands of Americans to work immediately," said the API's chief executive.
Vietnam strikes deal to build second oil refinery
Plans to build Vietnam's second oil refinery, which comes with a price tag of between $8 billion and $10 billion, has been hampered for years due to financing issues between the Vietnamese government and the two main partners, Japan's Idemitsu Kosan and Kuwait Petroleum.
India's Gulf Oil to buy specialty chemicals company Houghton International
The acquisition will allow Gulf Oil, part of the diversified Hinduja Group, to expand its lubricants and chemicals business. Indian companies have been increasingly looking overseas for acquisitions because red tape, corruption and land acquisition issues often hurt plans to expand at home.
Marathon Petroleum restarts Detroit refinery after major expansion project
The $2.2 billion, four-year Detroit Heavy Oil Upgrade Project increased the refinery's heavy-oil processing capacity to 100,000 bpd, five times the amount it could process before the project. Heavy oil is usually sold at discounts to light varieties, which are easier to process.
Fire erupts at PdVSA Cardon refinery in Venezuela
Workers at the site shut down the unit shortly after a small explosion caused a fire at the plant, Ivan Freites, secretary general of the local oil workers union, said. He added that some workers were being evacuated as a precautionary measure but did not offer more details.
- 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
