Refining
Essar finishes Vadinar refinery expansion in India
Essar Oil on Friday announced the completion of the $1.81 billion expansion of its Vadinar refinery with the successful commissioning of the final delayed coker unit (DCU), which is amongst the world's largest. The expansion gives the Vadinar refinery the capability to process much heavier crude diet.
UK strike threat boosts Europe oil product demand
Surging retail fuel sales in the UK amid a threat of a tanker drivers strike are supporting demand in Europe's diesel and gasoline markets. The higher premiums often provide a temporary boost to the struggling European refining sector, as they translate into higher profit margins.
Alberta oil sands employment projected to increase over 70% by 2021
Alberta's oil sands industry, which employed just over 20,000 workers in 2011, is projected to grow its workforce by a staggering 73% by 2021, a new report says. Some oil sands operations and occupations are forecasted to add over 100% of their current workforce by 2021.
Saudi oil minister sees no reason for high oil prices
Saudi Arabia Oil Minister Ali al-Naimi said that there is no reason for current high oil prices, which are hurting European economic growth targets, but said the world's largest crude exporter will do what it can to mitigate them. Naimi wrote his thoughts in a rare opinion piece for the Financial Times.
US Senate defeats bid to end 'big oil' subsidies
Senate Republicans united to block a Democratic attempt to end roughly $20 billion in federal subsidies to the largest oil and gas companies, in a largely political vote that had little chance of approval. Democrats argued that ending unnecessary taxpayer subsidies would have no effect on the price of gasoline.
Airline industry executives call on governments to promote biofuels use
The global airline industry wants stronger government efforts to promote using biofuels, with new regulations and economic incentives for its production. Industry executives said the legislative framework, the still-high costs of biofuels and the availability of raw materials are the main challenges.
Cynar picks Rockwell Automation to design, build UK waste-to-fuel plant
Waste-to-energy technology company Cynar has awarded an $11 million contract to Rockwell Automation to design and build a new end-of-life, plastic-to-fuel conversion plant in Bristol, UK. Cynar says it has developed a technology that converts end-of-life plastics into fuel.
France in talks with IEA over oil stocks release
The French government is in consultation with the IEA on whether to release oil stocks in moves to stem high crude prices. France supports a proposal to tap reserves and is also trying to convince producer nations to put more oil on the market to help combat speculation pushing prices higher.
Foster Wheeler wins project management pact for Indonesia refinery upgrade
Foster Wheeler has been awarded a contract by PT Pertamina to provide project management consultancy services for the residue fluid catalytic cracker (RFCC) project at the Cilacap refinery in Indonesia. The value of the contract was not disclosed and was included in 2012 first-quarter bookings.
Kinder Morgan to raise Alberta oil terminal storage
Kinder Morgan has entered into a long-term contract with a major Canadian producer to support the construction of an additional 1.2 million bbl of merchant storage capacity at Trans Mountain pipeline’s Edmonton terminal in Strathcona County, Alberta. The total value of the expansion now totals $284 million.
- Ineos to shut polystyrene facility in Illinois (U.S.) by the end of the year 6/19
- How ASTM approval of methanol-to-jet accelerates SAF at scale 6/19
- EU crafts plan to give industries extra free CO2 permits this year 6/19
- PetroChina forecasts Chinese oil consumption will drop 4.9% this year 6/19
- Digital Exclusive: Water injection pump mechanical seals failure after pump shutdown 6/19
- Russian gasoline output down 25% so far in June after drone attacks on refineries 6/19
