Refining
Spain's Repsol buys Russian oil company Eurotek
Spanish oil company Repsol said Thursday it has agreed to buy Russian oil firm Eurotek for $230 million, its second deal in the country in as many weeks. The deal follows the Dec. 20 announcement of a new joint venture with Russian-Kazakh peer Alliance Oil Co.
Petrobras halts some Reduc refinery ops after fire
Brazilian state-controlled oil producer Petroleo Brasileiro, or Petrobras, said it halted operations at a distilling unit at its Duque de Caxias, or Reduc, oil refinery in Rio de Janeiro state Monday due to a small fire. The incident won't cause any shortfall in products output.
OPEC agrees to accomodate rising Libya oil output
Libya's oil minister Abdurahman Benyezza said that there is a "gentlemen" agreement inside OPEC to accommodate the country's crude oil as production recovers. Libya is currently producing over 1 million bpd of crude oil and expects to boost output to pre-war levels of about 1.6 million bpd by mid-2012.
US energy R&D spending forecast up 23% for 2012
Energy-related research and development (R&D) sponsored by US manufacturers and technology firms will reach nearly $6.7 billion in 2012, up 23.1% from 2011, according to a forecast from research group Battelle. Overall, global spending by energy-related companies is expected to grow by 7.8% to reach $17.9 billion.
US fuel prices may become volatile after Northeast refinery closures
The Energy Information Administration (EIA) warns that a lack of supply flexibility could lead to price spikes in early 2012.
ExxonMobil to consolidate businesses of fuels marketing, lubricants
The ExxonMobil board of directors will approve the consolidation of ExxonMobil Fuels Marketing Co. and ExxonMobil Lubricants & Petroleum Specialties Co. into ExxonMobil Fuels, Lubricants & Specialties Marketing Co., effective February 1, 2012.
PBF plans $1bn Delaware City refinery expansion, includes new hydrocracker
US-based refiner PBF Energy and affiliate Delaware City Refining Co. on Thursday announced the $1 billion PBF clean fuels project, which includes the construction of a mild hydrocracker and hydrogen plant to be built at their Delaware City refinery. When completed, it will process streams from both the Delaware City refinery and PBF’s Paulsboro, N.J. refinery.
India refinery runs increase 9.2% in November
India's refinery runs in November rose a sharp 9.2% from October as Essar Oil resumed normal operations at a 14 million ton refinery after a 35-day shutdown. The refinery runs topped the government's target of 13.71 million tons, or 3.35 million bpd.
US coal industry sees limited 2012 upside - report
Softer export markets and natural gas displacement will outweigh benefits of lower stocks and consolidation for US coal producers in 2012, according to a new report. Domestic steam coal demand is in slow decline, and Fitch Ratings says it expects supply to remain disciplined.
Enterprise, Enbridge seek shipper commitments for US Seaway pipeline expansion
Enterprise Products and Enbridge will hold concurrent open seasons from January 4 through February 10, 2012, to solicit capacity commitments from shippers for an expansion of the Seaway pipeline and an extension of the pipeline into the Port Arthur/Beaumont refining market. ConocoPhillips was the previous owner of Enbridge's 50% stake.
- 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
