Refining
Enterprise raises oil storage capacity at proposed Houston crude terminal
Enterprise Products has purchased a 37-acre tract of land adjacent to its Enterprise Crude Houston (ECHO) crude oil terminal, which is currently under construction, in southeast Harris County, Texas. The ECHO facility is expected to begin service in the second quarter of 2012.
Copano to expand Eagle Ford shale pipeline in US
Copano Energy says it will extend its wholly-owned 96-mile, 24-inch DK Pipeline in the Eagle Ford Shale play by adding approximately 65 miles of 24-inch pipeline southwest into McMullen County, Texas. The extension is expected to begin service in the first half of 2013 and cost approximately $120 million.
IEA cuts 2012 outlook for global oil demand growth, cites weaker economy
The IEA lowered its estimate for global oil demand growth in 2012 to 800,000 bpd, compared to its previous forecast of 1.1 million bpd amid weaker economic predictions. Global GDP growth is revised down to 3.3% for 2012, from the 4.0% level assumed since September, the agency noted.
Total partly replacing Iran oil with Saudi crude - CFO
Total stopped buying Iranian crude oil for its refineries and trading activities at the end of 2011 - six months ahead of a European embargo - and has partly replaced it with oil from Saudi Arabia, according to its CFO. The company has removed its exposure to Iran as the US and Europe have tightened sanctions.
Saudi Aramco signs 20-year crude supply pact with Korean refiner S-Oil
South Korea-based refiner S-OIL said it signed 20-year long-term crude supply contract with Saudi Aramco. S-OIL’s refining capacity is 669,000 bpd and Saudi Aramco’s total annual supply volume to S-OIL is approximately 230 million bbl in respect of the refiner’s production size.
Husky building new hydrotreater at Ohio refinery
Husky Energy has begun construction on a new 20,000 bpd kerosene hydrotreater at its refinery in Lima, Ohio. The hydrotreater should help the company increase jet fuel production. The refinery has a capacity of 155,000 bpd, making it the 48th-largest in the US.
Plains to build northern Oklahoma crude oil pipeline
Plains All American Pipeline says it will construct a new 170-mile pipeline to service the increasing Mississippian Lime crude oil production in northern Oklahoma and southern Kansas. The pipeline is expected to be completed in mid-2013, the company said.
Shale, foreign investment spark 2011 growth in US oil, gas M&A - report
The total value of US oil and gas mergers and acquisitions (M&A) increased significantly in 2011 due to continued investment in shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry. Average deal size also increased in 2011.
India boosts Iran oil imports, largely offsets China reduction - sources
India has boosted its imports of Iranian oil, becoming the Islamic Republic's largest customer last month and largely offsetting a cut in Chinese purchases as sanctions fail to dent Tehran's sales for now, people within the oil industry said this week. Iranian crude exports to India were up 37.5% from December.
Independents nab control of US refining industry
Independent refiners appear in the driver's seat in the US as integrated oil companies increasingly shed refining assets.
- 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
