Americas
US to exempt EU, Japan on Iran oil sanctions
The US has decided to grant exemptions to Japan and 10 European Union (EU) countries under a new set of Iran oil sanctions, a key lawmaker said. Aimed at shutting down Iran's nuclear program, the sanctions target financial institutions that do business with Iran's Central Bank, a main conduit for Iran's oil sales.
Romney to attack Obama over US gasoline prices
An improving job market is prompting Mitt Romney to focus on rising gas prices as evidence President Obama has mismanaged the economy. Obama's political team is concerned rising gas prices will diminish some of the political advantage the president may gain from the improving economy.
Shaw, Total form global alliance on polystyrene
The Shaw Group said Monday that it formed an exclusive alliance with Total Petrochemicals to jointly market and license Total’s polystyrene technology on a worldwide basis. Shaw has had a similar alliance with Total Petrochemicals for styrene monomer, the primary feedstock for polystyrene, for 15 years.
Valero to shut Aruba refinery by end of March
The Texas-based refiner says it will suspend operations at the 235,000 bpd Aruba refinery by the end of the month because weak margins have led to financial losses.
Hess to explore sale of St. Lucia oil terminal
Hess Corp. announced Monday that it is exploring the sale of its St. Lucia crude oil and refined products storage and transshipment terminal in the Caribbean. The news comes two months after Hess unveiled plans to shut down its Hovensa refinery venture in St. Croix.
National fuel-retailing association speaks out on rising transportation fuel prices
"The retail fuels market is a complex system that is influenced by a wide number of factors. The best strategy for providing long-term relief and stability to consumers is to enact a comprehensive transportation energy policy," National Association of Convenience Stores (NACS) Vice President of Government Relations, John Eichberger, told Congress.
EIA raises oil price forecast for 2012
In its March "Short-Term Energy Report," the DOE/EIA raised its oil price forecast for 2012 to $106/bbl, up $5/bbl from the previous forecast amid concerns over geopolitical tensions in the Middle East, growth in world demand and supply constraints in non-OPEC countries.
OPEC pins high oil prices on speculators, IEA warns of supply woes
Leaders of some of the world's largest oil producing nations Wednesday pinned current high oil prices primarily on market speculators, just as consuming nations warned that even present increased output levels are being more than offset by numerous supply problems.
Petrobras to boost gasoline, diesel imports in 2012
Brazil's Petrobras will need to import more gasoline and diesel fuel in 2012 as the company's refineries continue to fall short of domestic demand, Petrobras downstream director Paulo Roberto Costa said. Petrobras is also suffering from delays to refinery projects that will help trim the company's shortfall.
API sues EPA over US cellulosic biofuel mandate
The API) filed a lawsuit with the DC Circuit Court challenging what it called “unachievable requirements” from the US EPA for use of cellulosic biofuels in the 2012 Renewable Fuel Standard (RFS). The API recommends that EPA base their prediction on at least two months of actual production data.
- Southern Energy Renewables and Axens Sign MoU to advance SAF projects in Louisiana and beyond 4/8
- One of the largest heat pumps in the world has reached BASF's Ludwigshafen site 4/8
- TotalEnergies extends its fuel price cap policy in France until the end of April 4/7
- Navigating the montan wax challenge with renewable alternatives for polymers 4/7
- AFR selects Axens as technology provider for Texas (U.S.) refinery 4/7
- Iran has attacked Saudi Arabia's Jubail petrochemical complex, IRGC says 4/7
