Crude oil
Holly and Frontier merge to create HollyFrontier
Holly Corp. and Frontier Oil Corp. have merged. Factoring in various variables, it can be safely interpreted that the new company has an enterprise value of $7 billion.
Total sells stake in Spanish company to Abu Dhabi entity
Total and IPIC have signed an agreement whereby Total will sell its 48.83% share in the capital of CEPSA. IPIC, a wholly owned entity of the Abu Dhabi government, is currently a shareholder of CEPSA with a stake of 47.06%.
US refining margins improve, but some refineries remain at risk
During the fourth quarter of 2010, US refining industry performance improved relative to the prior quarter. While the US Gulf Coast crack spreads were somewhat lower in the fourth quarter, the light-heavy crude oil price differential (LLS-Maya) continued to favor refineries with heavier crude slates.
Mubarak exits stage right
What will this mean for IOCs doing business in the region?
New licensing agreement makes a wastewater splash
GE has completed a new expanded licensing agreement that will allow the company to continue offering high-efficiency reverse osmosis (HERO) systems to help more of its industrial customers increase their water usage efficiency and reuse capacity as the international community works to address mounting shortages of clean water.
BP wants to sell two US refineries
BP announced today that it is looking to sell two of its US refineries. The company has officially put a “for sale” sign in front of its refineries in Texas City, Texas, and Carson, California.
Chevron building lubricants facility in Mississippi
Chevron Lubricants will commence construction of a lubricants manufacturing facility at the company's refinery in Pascagoula, Mississippi. The $1.4 billion Pascagoula base oil project (PBOP) is projected to generate approximately 1,000 jobs over the next two years of construction and about 20 permanent positions once the facility is operating.
BP says emerging economies will lead energy growth to 2030
World energy growth over the next 20 years is expected to be dominated by emerging economies such as China, India, Russia and Brazil while improvements in energy efficiency measures are set to accelerate, according to BP’s latest projection of energy trends, the BP Energy Outlook 2030.
Hovensa closing units and reducing crude distillation capacity
Hovensa plans to shut down certain processing units on the west side of its refinery in St. Croix, US Virgin Islands. This action will reduce the refinery’s crude oil distillation capacity from 500,000 bpd to 350,000 bpd, with no impact on the capacity of its coker or fluid catalytic cracking (FCC) unit.
CB&I acquires 100% interest in CDTECH
CB&I has acquired Chemical Research and Licensing from CRI/Criterion, a subsidiary of Royal Dutch Shell plc. This acquisition gives CB&I, through its Lummus Technology business sector, a 100% interest in Catalytic Distillation Technologies (CDTECH).
- BASF’s Intermediates division produces entire portfolio of acid chlorides and chloroformates at its Ludwigshafen site using renewable electricity credits 3/23
- ANDRITZ to supply refining technology for cellulosic ethanol pilot plant in the U.S. 3/22
- Brazilian city trials new biofuel aimed at replacing diesel entirely 3/22
- South Korea to review restructuring plan for largest petrochemical complex 3/22
- Shell says Pearl GTL facility's train two in Qatar requires around a year for full repair 3/22
- Iran attacks wipe out 17% of Qatar’s LNG capacity for up to five years 3/22
