Americas
EIA: US refineries are running at record-high levels
Gross inputs to US petroleum refineries, also referred to as refinery runs, averaged a record high 17.7 MMbpd for the week ending May 26, before dropping slightly to 17.5 MMbpd for the week ending June 2 and 17.6 MMbpd for the week ending June 9. Product supplied to the US market as well as inventories and exports are also at relatively high levels.
Oil prices hit seven-month lows on global oversupply
LONDON (Reuters) — Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend which has undermined attempts by OPEC and other producers to support the market through reduced output.
Petrobras settles US lawsuit with The Vanguard Group
SAO PAULO (Reuters) — Brazil's state-run oil company Petróleo Brasileiro SA on Monday said its board has approved a settlement to end an United States-based lawsuit opened by some affiliates of The Vanguard Group, one of its largest shareholders.
HUG '17: Honeywell Process Solutions Users Group meeting
Honeywell Process Solutions (HPS) is holding media/analyst briefings each day of their Honeywell Users Group 2017 meeting.
Chevron Phillips marks milestone of its $6 B US Gulf Coast petchem project
Chevron Phillips Chemical Company LP announced that the two polyethylene (PE) units of its $6 B petrochemical investment on the US Gulf Coast successfully achieved the major milestone of mechanical completion.
US top court hands Chevron victory in Ecuador pollution case
WASHINGTON (Reuters) — The US Supreme Court on Monday handed a victory to Chevron Corp by preventing Ecuadorean villagers and their American lawyer from trying to collect on an $8.65 billion pollution judgment issued against the oil company by a court in Ecuador.
Velocys commercial-scale biorefinery plans move forward
Velocys plc announced that the US Department of Agriculture (USDA) has invited Velocys to submit a Phase II Application to obtain a loan guarantee for a commercial-scale biorefinery. This invitation was made after a successful Phase I Application process. The loan guarantee could apply to up to $200 MM of debt as part of the total installed cost of the project.
Kinder Morgan Canada raises $4.6 B as Trans Mountain faces block
CALGARY, Alberta (Reuters) — Kinder Morgan Canada Ltd has raised $4.16 B for its Trans Mountain pipeline expansion and could have raised even more, the company said on Friday, despite pressure on banks to back away from the project.
Fire at Mexico's Salina Cruz refinery has been put out
MEXICO CITY (Reuters) — A fire that completely shut down Mexico's Salina Cruz oil refinery has been put out but operations have yet to be restarted, state-owned petroleum company Pemex said on Friday.
MMEX Resources announces plans for initial 10 Mbpd Permian Basin refinery
AUSTIN, TEXAS — MMEX Resources Corp., a development-stage company focusing on the acquisition, development and financing of oil, gas, refining and infrastructure projects in Texas and South America, announced an agreement with Crown Bridge Partners, LLC for an issuance of up to $3 MM of equity securities, as well as plans to build a 10,000 bpd crude distillation unit near Fort Stockton, Texas as an initial unit for the $450 MM, 50,000 bpd Pecos County refinery project announced by MMEX earlier this year.
- NAPCOR releases 2024 PET recycling report highlighting system efficiency gains and continued strength of PET circularity 12/12
- OQ courts other partners for petrochemical complex in Oman as SABIC drops out 12/12
- Brazil's BNDES approves $71 MM for carbon storage project 12/12
- Cuba on edge as U.S. seizure of oil tanker puts supply at risk 12/12
- China oil demand to plateau between 2025 and 2030 12/12
- Germany's PCK refinery says no impact from pipeline leak 12/12
