Refining
Shell sees 'encouraging response' to proposed Louisiana-to-Texas crude pipeline
Shell Pipeline received a very encouraging response to its non-binding solicitation of interest period for firm capacity on its proposed Westward Ho pipeline project. Shell plans to seek binding capacity commitments from shippers for the project through an open season in early 2012.
Economic concerns cloud 2012 energy outlook for North America - report
The North American energy industry faces a generally stable operating environment although ongoing sovereign and economic concerns are risks in 2012. The single biggest threat to the crude oil market remains a decrease in overall global demand, due to the risks of potential recession in the US and/or Europe and a decline in China's economy.
TransCanada nets more commitments to proposed Keystone XL extension
TransCanada says it has received additional binding commitments in support the Keystone XL pipeline following the successful conclusion of its Keystone Houston lateral open season. The Keystone pipeline system has now secured long-term firm contracts in excess of 1.1 million bpd, the company said.
North America energy infrastructure outlook holds stable for 2012 - report
The stable outlook is supported by largely contracted revenue streams mitigating price and volume risk, including continuing strong support for renewable power projects through renewable portfolio standards.
Chevron committed to staying in Brazil despite spill
Chevron is "committed" to stay in Brazil for the long term and hopes to "move ahead" after an oil spill in early November that led to intense scrutiny of the oil company from local authorities and regulators. Chevron says it is very proud of its response on the Nov. 7 oil spill because the company's sweeping reaction resulted in no environmental impact from the spill.
Petrobras, Tereos mulling fuel ethanol production in Mozambique
Brazilian state-owned oil company Petroleo Brasileiro, or Petrobras, and French-controlled sugarcane miller Tereos Internacional said Wednesday they plan to study the possibility of producing and selling ethanol fuel in Mozambique. The two firms already operate a mill in the southern African country that crushes 1.2 million metric tons of sugarcane.
BP oil spill report calls for single policing agency
A single governmental agency should be used to insure offshore drilling safety in order to avoid disasters like the Deepwater Horizon in the Gulf of Mexico, a national research group said Wednesday. The recommendation could end up flying in the face of what the industry thinks it needs to regulate itself, though officials from the American Petroleum Institute had yet to comment directly on the suggestion.
US shale resources likely to spark manufacturing renaissance through 2025 - PwC
The abundance of shale gas resources could lead a US manufacturing renaissance with economic benefits that include cost savings, greater investments to expand manufacturing facilities and increased levels of employment, according to a new report.
IEA trims 2012 world oil demand growth forecast on economic woes
The International Energy Agency on Tuesday trimmed its forecast for world oil demand growth in 2012 versus its earlier 2012 projection based on the worsening global economic backdrop and persistently elevated oil prices, but said demand will remain robust and markets tight until 2013. The IEA forecast global oil demand at 90.3 million bpd in 2012, up from 89 million bpd this year.
Shaw to study Iraq refinery rehabilitation project
The Shaw Group said Tuesday that it was awarded a contract by the South Refineries Co. - part of Iraq’s Ministry of Oil - to provide a feasibility study for the rehabilitation of its 140,000 bpd refinery in Basra, Iraq. The study is funded by the United States Trade and Development Agency (USTDA) through a grant to the South Refineries Co.
- 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
