Refining
Algeria to double refining capacity within five years
Algeria's state-run energy group, Sonatrach, has said it plans to invest $80 billion in oil and natural gas projects until 2016 as it seeks to expand the gas resource base, boost refining and petrochemical capacity and curb dependence on imported fuel. The nation produced 1.16 million bpd of oil last month.
Shell offers to sell stake in top Czech refinery
"We received an offer from Shell and it's led to negotiations," Industry Minister Martin Kuba said. The minister is also said that Shell offered its stake to the two other shareholders in the refinery, which have an option to purchase the stake before it's offered to third parties.
Petrovietnam to upgrade Dung Quat refinery, but expansion plan scrapped
Petrovietnam had earlier said it planned to sell a 49% stake in the refinery to foreign investors and use the proceeds to expand capacity to 200,000 bpd. "Upgrading the refinery so that it can process a diversified feedstock will cost less than expanding its capacity," a top project official said.
Shell looks to sell Geelong refinery in Australia
The number of refineries in Australia has dwindled in recent years as vast new processing facilities have sprung up in India, Singapore and elsewhere in the region, producing products such as gasoline, jet fuel and motor oil more cheaply. Geelong is now Shell's only oil refinery in Australia.
Phillips 66 to build rail-unloading facility for crudes at Washington refinery
The unloading facility would allow a train with 100 or more railcars to pull up at the refinery and have its cargo pumped to existing storage tanks, according to an application filed with the Northwest Clean Air Agency. The unloading facility would be able to transfer about 12,800 bbl of oil per hour.
Shell pipeline spills oil into Houston-area bayou
Shell clean-up crews were working to clear the crude out of Vince Bayou, a waterway that connects to the Houston Ship Channel, which leads into the Gulf of Mexico, said Coast Guard Petty Officer Steven Lehman. The spill was contained but the total amount of oil was still being verified.
China to overtake US as largest oil importer
OPEC, whose members supply more than one in three barrels of crude consumed worldwide, said rising Chinese imports were backed by increased throughput at the country's refineries. The group quoted recent analysis saying China's oil imports could top 6 million bbl this year.
Argentina storm sparks fire at YPF La Plata refinery
YPF said the fire started after flooding caused by a major rain storm cut electricity to the entire refinery. YPF said its personnel and firefighters from two nearby cities managed to bring the blaze under control in the early-morning hours. The company said there were no casualties.
TransCanada eyes East pipeline for Alberta crudes
TransCanada has been mulling the plan publicly for months, amid a growing glut of oil in Western Canada that has depressed prices. The plan involves converting part of an existing gas pipeline, TransCanada's Mainline network, for crude-oil service, and building about 870 miles of new pipeline.
Valero sees costs outweighing benefits for new US gasoline pollution rules
Valero spokesman Bill Day said the company expects to spend $300 million to $400 million building new equipment to remove sulfur from gasoline and to expand existing facilities. He said the company expects to incur additional operating costs each year, and those have yet to be determined.
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