Refining
Foster Wheeler to study refinery modernization project in Albania
Foster Wheeler was awarded a feasibility study by Albanian Refining & Marketing of Oil sh.a. (ARMO) relating to the modernization of two refineries, located at Ballsh and Fier in Albania. The study is expected to be completed by mid-2012, and its contract value was not disclosed.
Shell CEO says Arctic focus on Alaska, Greenland
Shell’s plans to drill for oil and gas in the Arctic region will be centered on Alaska and Greenland, though the Anglo-Dutch major is also eyeing Russia's far north as an exploration frontier, said CEO Peter Voser. Vast hydrocarbon reserves are believed to lie off the coast of Greenland.
ERG sells 20% stake in Italian ISAB refinery venture to partner Lukoil
Italian refiner ERG will sell a 20% stake in its ISAB refinery joint venture to Russia-based partner Lukoil. The companies agreed to the ISAB venture in 2008, under which the Sicily-based refinery has a capacity of roughly 320,000 bpd. ERG will own 20% of the refinery, with Lukoil owning the other 80%.
OPEC sees no shortage of oil in any region
OPEC's secretary general said Monday that there is currently no shortage of oil anywhere, despite current supply concerns. Oil markets have been jittery by interruption of supply from countries such as Sudan and fears Iran may preempt a planned European embargo on its oil exports.
US Republicans plan new tactics to secure approval of Keystone XL oil pipeline
Politicians unveiled a bill that could push through approval of the project over the objections of President Barack Obama.
Shell CEO says current US gas prices too low for shale investment
Investment in shale gas won't be sustained if US natural gas benchmarks stay at their currently depressed levels, Shell chief executive Peter Voser said. US natural gas prices have fallen to their lowest point in a decade as new technologies allow producers to access vast untapped gasfields in Pennsylvania and Texas.
Petrobras to expand Minas Gerais biodiesel plant
Brazilian oil and gas company Petroleo Brasileiro, or Petrobras, signed an accord with the Brazilian state of Minas Gerais to boost output of biodiesel there. Petrobras has five biodiesel plants with the total capacity to produce 721.4 million liters of biodiesel per year.
Iraq delays opening of key crude export terminal
Iraq has delayed the opening of a key oil terminal due Friday, with officials giving mixed reasons for the move. The SPM is one of four new floating terminals along with three sea pipelines that Leighton Offshore is constructing in the Arabian Gulf in order to boost Iraq's export capacity to 5 million bpd from 1.8 million bpd.
Brazil to maintain reduced ethanol mix in gasoline
Brazil's government will keep the amount of ethanol mixed with gasoline at reduced levels despite complaints about low prices for the biofuel, a government official told local business daily Valor Economico in an interview published Thursday. The government will meet with ethanol producers next week.
UOP technology chosen for diesel, lube production at Pakistan refinery expansion
Honeywell’s UOP says that its new process technology designed to help refiners get more product from each crude barrel has been selected by National Refinery Limited (NRL) to maximize diesel and lubricant production in Pakistan. The facility will produce 40,000 bpd of diesel fuel and 4,500 bpd of lube base oils.
- 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
