Refining
Chevron says oil, gas output to jump 20% by 2017
Chevron said Tuesday its oil and gas production will inch up this year but it expects output to jump 20% in five years as massive liquefied natural gas (LNG) projects in Australia commence operations. Chevron officials noted that annual production could vary depending on oil prices.
Valero contract worker dies after flash fire at Memphis refinery
Nicolas Cuevas, one of three contract workers injured in a flash fire last week at Valero Energy Corp.'s oil refinery in Memphis, Tenn., died Saturday afternoon, a Valero spokesman said. The men were working at the flare platform as part of the crude unit turnaround that got under way March 2.
Motiva to convert N.J. storage to ULSD, biodiesel
Motiva plans to convert all of its high sulfur diesel heating oil (2000 ppm) storage to ultra low sulfur diesel (ULSD) (15 ppm) at its Sewaren Terminal in New Jersey. That will allow Motiva Sewaren, a 5mn bbl refined products terminal, to take deliveries of ULSD for NYMEX-based contracts via marine and pipeline.
US Senate kills latest bid to speed approval of Keystone oil pipeline
The US Senate defeated an attempt by Republican lawmakers to grant congressional approval for the construction of a new oil pipeline, after the White House confirmed that President Barack Obama personally called senators to persuade them to reject it. Republicans were trying to override Obama's objection.
OPEC says Asian growth offsets low OECD demand
The fundamental forces driving the world oil market were broadly stable in February, due to the familiar pattern of consumption growth in Asia offsetting weaker demand in the West, the Organization of Petroleum Exporting Countries said Friday. Recent data hasn't been encouraging, it said.
Enbridge restarts US Midwest oil pipeline after spill
Enbridge said it fully restarted a Midwest oil pipeline Thursday morning that had been shut down last weekend after a car crash hit it, causing a fire and spill. Two people died in the crash and three were taken to hospital to be treated for burn injuries.
Petrobras CEO pegs 2012 oil price at $100/bbl, says high levels won't last
The recent rise in global oil prices to as high as $123/bbl represented a "peak" and does not change Brazil's forecast for average prices in 2012 of $100/bbl, said Petrobras' CEO. According to Petrobras economists, oil prices could fall even lower "in the next few years," reaching $80 or $90/bbl.
Russia refiner taps Foster Wheeler for fired heater
Foster Wheeler has been awarded a contract by CJSC Antipinsky Refinery for the engineering and material supply of a new fired heater and air preheating system for the Antipinsky refinery in Tyumen. Foster Wheeler’s scope of work is scheduled to be completed by the end of 2012.
ExxonMobil to spend $185bn through 2016 to grow new energy sources
US-based oil and gas major ExxonMobil plans to invest approximately $185 billion over the next five years to develop new supplies of energy to meet expected growth in demand, CEO Rex W. Tillerson said. A total of 21 major oil and gas projects will begin production between 2012 and 2014.
Shell seeks oil shipper commitments for reversal of Houma-to-Houston pipeline
Shell Pipeline on Thursday announced the start of a binding open season period for firm capacity on the Ho-Ho Reversal pipeline system project. The pipeline seeks to transport crude from Houston to Louisiana. Inland crude production is on the rise in Texas amid growing interest in shale plays.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announces $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
