Crude oil
Husky building new hydrotreater at Ohio refinery
Husky Energy has begun construction on a new 20,000 bpd kerosene hydrotreater at its refinery in Lima, Ohio. The hydrotreater should help the company increase jet fuel production. The refinery has a capacity of 155,000 bpd, making it the 48th-largest in the US.
Plains to build northern Oklahoma crude oil pipeline
Plains All American Pipeline says it will construct a new 170-mile pipeline to service the increasing Mississippian Lime crude oil production in northern Oklahoma and southern Kansas. The pipeline is expected to be completed in mid-2013, the company said.
Shale, foreign investment spark 2011 growth in US oil, gas M&A - report
The total value of US oil and gas mergers and acquisitions (M&A) increased significantly in 2011 due to continued investment in shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry. Average deal size also increased in 2011.
India boosts Iran oil imports, largely offsets China reduction - sources
India has boosted its imports of Iranian oil, becoming the Islamic Republic's largest customer last month and largely offsetting a cut in Chinese purchases as sanctions fail to dent Tehran's sales for now, people within the oil industry said this week. Iranian crude exports to India were up 37.5% from December.
Independents nab control of US refining industry
Independent refiners appear in the driver's seat in the US as integrated oil companies increasingly shed refining assets.
EIA raises most US price forecasts for crude, petroleum products
The US government on Tuesday raised its predicted prices for most crude oil and petroleum products in the latest edition of its monthly energy forecast. With crude prices serving as the fuel feedstock for petroleum products, forecasts for gasoline and diesel were also up as well.
Magellan Midstream CEO: El Paso-Houston pipeline not fully committed
Magellan Midstream plans to begin by 2013 its project to ship oil from increasingly productive south Texas fields to the refining belt along the US Gulf Coast despite lacking enough shipper interest to fill the line. Last year's WTI-Brent crude price disparity helped spark multiple projects to bring Cushing crude to the Gulf.
Sunoco to swap CEOs amid transition to logistics
Sunoco’s Lynn Elsenhans will step down as CEO and be replaced by Brian MacDonald in March, as the US-based company continues its exit from the manufacturing industry and transition to a logistics and retail focus. MacDonald, 46, joined Sunoco in 2009 as senior vice president and chief financial officer.
ExxonMobil's natural gas emphasis may hurt small US producers
ExxonMobil’s decision to leave US natural gas output untouched despite low commodity prices may push smaller producers out of the business, force industry consolidation and make Exxon an even more powerful force. The company said drilling for natural gas in some areas is still profitable, even at current prices.
Shell looking at ways to improve US gas profits
The company says it may seek land for potential liquefaction and export terminals. After heavy investment in US shale assets, low gas prices are driving up project costs.
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