Refining
Eni CEO: Italy can cope with EU ban on Iran crude
Italy could cope with a potential European Union ban on Iranian crude imports, the top executive of Italian oil major Eni said Thursday, but added that oil payments from the Islamic republic were more of a concern if an embargo was imposed. The EU is mulling an oil embargo against Iran as a sanction against the country's nuclear program.
Chevron to spend record $32.7 billion on capital projects in 2012
Chevron said it expects to spend a record $32.7 billion on capital projects in 2012 as it continues to invest in massive oil and gas projects worldwide. Rivals ConocoPhillips and Marathon Oil recently announced double-digit capital budget increases for next year, showing major oil companies are confident about the sustainability of high oil prices.
Halliburton defends itself against BP oil spill claims
Halliburton responded Wednesday to recent court filings by BP, which accused it of unfavorable results from tests on cement used to plug the leaking well in the Deepwater Horizon disaster.
US regulators issue more spill-related fines to BP
US regulators have issued additional violations to BP for its role in the Deepwater Horizon oil spill, raising the level of fines that the company is likely to pay. The violations lay the foundation for civil penalties that are likely to be imposed by the federal government.
Marathon Oil boosting capital spending by $1 billion
Marathon Oil Corp. said Wednesday that it will increase its capital spending by $1 billion in 2012 as it moves to develop acreage in the Eagle Ford shale of South Texas. The firm plans to spend $4.82 billion on capital projects in 2012, up from its plan to spend $3.89 billion in 2011.
Toyo lands engineering design deal for Canada oil sands refinery project
Toyo has been awarded a contract by North West Redwater (NWR) to provide EDS (engineering design specification) work for a heavy oil upgrading and refining complex in Sturgeon County, Alberta. This complex will process bitumen extracted from oil sands producing naphtha, diesel oil and other petroleum products.
Iran says EU ban on crude imports to hurt Europe
Iran doesn't expect Europe to follow through on its threat to ban imports of oil from the Islamic republic because it would hurt the euro zone's energy security.
Sunoco idles key processing units at Pennsylvania refinery, cites weak market
US refiner Sunoco is indefinitely idling the main processing units at its refinery in Marcus Hook, Penn., citing deteriorating refining market conditions. The company said it also intends to increase the capacity utilization rate of its Philadelphia refinery and will continue to operate the refinery as long as market conditions warrant.
NPRA praises US transition to net fuels exporter
A new report that says growing US exports of petroleum fuels may enable the country to become a net exporter of refined petroleum products this year for the first time since 1949 is good news for the US, according to National Petrochemical & Refiners Association (NPRA) president Charles T. Drevna.
Toyo lands project management deal for Venezuela refinery upgrading work
Toyo Engineering, in consortium with a Venezuelan engineering firm Y&V Ingeniería y Construcción, has been awarded a project management consultant contract for a heavy oil upgrading project of Venezuelan national petroleum company PDVSA at its Puerto La Cruz refinery in the State of Anzoátegui. The project aims to satisfy the energy demands of the domestic market in Venezuela and overseas exports.
- 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
