Refining
EIA sees slim US oil demand growth through 2014
With the downward revision for 2012, the EIA now sees 2013 US demand rising 0.3%, to 18.65 million bpd, with 2014 demand up 0.4%, at 18.72 million bpd. The 2014 figure would be down 10%, or nearly 2.1 million bpd below the demand peak hit in 2005 of 20.8 million bpd.
Honeywell to supply process control systems for Kirishi refinery in Russia
Experion PKS will help to optimize production processes by providing the tight integration of production subsystems as well as safety, industrial security and advanced control systems, enabling plant operators to work more effectively and make more informed decisions, according to the companies.
Essar Energy sees continued strong performance at India, UK refineries
In a mangement statement, Essar said gross refining margins at its Vadinar refinery in India rose to $9.75/bbl for the final 2012 quarter, compared with $2.82/bbl for the same time a year earlier, thanks to refinery upgrades that allow it to process larger amounts of oil as well as cheaper grades.
Calumet, WBI Energy form venture to build North Dakota diesel refinery
The facility will process 20,000 bpd of Bakken crude oil. Construction could begin this spring, and is expected to take up to 20 months. The plant will be located on a 318-acre site located west of Dickinson in Stark County, North Dakota. It will employ approximately 100 people, according to the companies.
Tesoro targets more Canadian crude oil for US West Coast refineries
Tesoro has been aggressive in expanding its crude-oil sources to bring down costs at its refineries along the West Coast, home to the vast majority of its operations. Tesoro and other US refiners have been steadily increasing their use of a domestic oil supply, bolstered by recent advances in drilling technology.
Canada concerned by cheap Alberta crude prices
There has typically been a slight discount, of roughly $10 to $20 a barrel, on the price of Western Canadian Select oil compared to the benchmark West Texas Intermediate blend. But that discount has widened to nearly $40, economists say, and they warn it could balloon further due to pipeline capacity constraints.
Solazyme, Mitsui to jointly develop triglyceride oils
The $20 million, multi-year agreement includes further development of Solazyme’s breakthrough high myristic algal oil, a valuable raw material in the oleochemical industry, as well as additional oils that Solazyme is developing for the oleochemical and industrial sectors, according to the companies.
PTT venture to build condensate splitter in Timor
PTT International will own around 70% of the venture and petroleum firm Timor Gap will own the rest. The companies also agreed to jointly engage in condensate trading activities, he said, adding that the two deals require a combined investment of 5 billion baht ($168 million).
Swiss, Egyptian groups make top bids for Petroplus oil refinery in France
The Petit-Couronne refinery in Western France, now in receivership, was among a string of industrial facilities new French President Francois Hollande had promised to protect before being elected. The two bids deemed serious come from investors in Egypt and Switzerland, the newspaper said.
China to raise fuel standards for diesel, gasoline
China's State Council, or cabinet, said Wednesday it would ratchet up national fuel standards to levels similar to those currently found in the US and Europe by the end of 2017. Beijing will also give room to China's refining industry to pass on the cost to consumers, according to the statement.
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- EU crafts plan to give industries extra free CO2 permits this year 6/19
- PetroChina forecasts Chinese oil consumption will drop 4.9% this year 6/19
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- Russian gasoline output down 25% so far in June after drone attacks on refineries 6/19
