Refining
Enbridge, Enterprise more than doubling capacity on US Seaway pipeline
Enbridge and Enterprise Products have secured enough capacity commitments from shippers to proceed with an expansion of the Seaway pipeline in the US that will more than double its capacity to 850,000 bpd by mid-2014. The firms are nearing completion of the first phase of the Seaway line reversal.
India crude imports up on refined product demand
India's crude oil imports in February rose 11% from a year earlier, boosted by strong demand for refined fuel products. The South Asian nation imported 14.87 million tons, or 3.76 million bpd, of crude last month, compared with 13.43 million tons, or 3.52 million bpd, a year earlier, the data showed.
BP refinery in Texas City disrupted by acid leak
BP's refinery in Texas City, Texas, reported a hydrofluoric acid leak Tuesday that disrupted operations at one unit of the plant and led to a shelter-in-place warning on the refinery grounds. Water is being sprayed over the leak site to limit the spread of vapor and the acid is being drained to a storage tank.
Sinopec sees unprofitable downstream operations amid rising oil prices
Sinopec said its refining operations posted losses in January and February and that it expects the downstream operations to remain unprofitable if oil prices keep going up. Chairman Fu Chengyu told reporters the firm would accelerate the development of its natural gas business.
IEA data show high oil costs hurting EU consumers
Early data show that high oil prices in Europe have already started to eat into consumer spending in other areas and could push the region back into recession, says the chief economist of the IEA, Fatih Birol. Energy costs could eat up almost double their typical share of Europe's income this year.
Obama calls for expediting southern portion of Keystone XL pipeline
With the pipeline, TransCanada would bring oil from Cushing, Oklahoma, to US Gulf refineries, helping ease a supply glut.
US oil demand down in February as consumers switch to natural gas - API
Total US petroleum deliveries fell 2.3% this February compared with February 2011, pulled down by a decline in residual fuel oil (40.2%) and other oil (liquid petrochemical feedstocks, naphtha and gasoil) deliveries. The steep decline in residual fuel demand related to users switching to natural gas.
Iran crude oil exports drop as sanctions take hold
Iran's crude oil exports appeared to have sharply dropped this month for the first time this year, according to an authoritative consultancy, as sanctions start denting Tehran's most important source of revenue. Iran's crude oil exports had been stable at 2.2 million bpd until now.
Celanese wins government approval for industrial ethanol plant in China
Celanese says it has received key government approvals necessary to proceed with plans to modify its existing integrated acetyl facility at the Nanjing Chemical Industrial Park to produce ethanol for industrial uses. The unit, expected to increase profits, is expected to start up in mid-2013.
India in talks to smoothen Iran crude oil supplies
India has shown no signs of giving in to US pressure to reduce its business dealings with Iran, with the government and a top trade body moving in quite the opposite direction. New Delhi is in talks with Iran to ensure uninterrupted crude oil supplies, as well as to smoothen settlement of payments.
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- 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
