Refining
Citgo reports fire at Corpus Christi refinery in Texas
The fire started earlier this week but resulted in no injuries, a Citgo official said. An investigation into the cause of the fire is ongoing, the official said. The Corpus refinery has a capacity of 163,000 bpd.
PetroVietnam actively prepares for construction of nation's second refinery
Plans to build the 200,000 bpd Nghi Son refinery in Thanh Hoa province by investors from Kuwait, Japan and Vietnam have been delayed several times. PetroVietnam earlier said it could cost $8 billion-$10 billion.
Canada seeks more energy exports to India, less dependence on US
Canada's search for alternative destinations, including India, China and Japan, for its trove of hydrocarbon resources coincides with India seeking stable supplies of oil and gas to augment its own, relatively limited, energy resources, which currently satisfy less than a quarter of its requirement.
OPEC lowers global oil demand forecasts for 2012
Economic growth is mostly set to come from emerging markets, but these countries are reliant on exports to developed economies, which have performed sluggishly this year. Moreover, improvements in the global economy are dependent on the success of government and central-bank action.
California switches to winter gasoline to ease cost
The shortages underscore California's relative isolation from the rest of the nation in terms of energy. The state is the largest fuel market in the nation, but its strict production rules make importing gasoline from other areas difficult; and there are no fuel pipelines connecting it to markets across the Rocky Mountains.
Cedecorp to build second Cameroon oil refinery
The new processing plant will produce between 200 and 300 bpd of refined fuel and Cedecorp will run the refinery for 10 years before handing it over to Cameroon. The project will be entirely funded by Texas firm Refinery Technology, although the cost of the construction wasn't disclosed.
BP sells Texas City refinery to Marathon for $2.5bn
Subject to regulatory and other approvals, Marathon Petroleum will purchase the 475,000 bpd Texas City refinery, associated natural gas liquids pipelines and four marketing terminals in the southeast US.
Valero suspends spot gasoline sales in California
Valero, the largest US refiner, took the unusual step after a series of shutdowns at Richmond and other refineries. Valero said it will meet its current contracts to supply gasoline, but won't sell into the spot market. Spokesman Bill Day said resumption of spot sales "will depend on markets and inventories."
Sunoco completes US merger with Energy Transfer
Energy Transfer gains 7,900 miles of crude oil and refined fuel pipelines from Sunoco Logistics Partners master limited partnership and give it a toe-hold in the Marcellus and Utica shale regions, increasingly productive sources of oil and natural gas. Sunoco now becomes a subsidiary of Energy Transfer.
ExxonMobil Baytown fire caused by hole in reactor
ExxonMobil said this week's fire at its massive Texas refinery will result in some impacts to production, but it still expects to meet contractual agreements. All remaining refining operations are normal.
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