Economics

Hellenic Petroleum plans bond issue to refinance debt

Greece's biggest oil refiner Hellenic Petroleum is looking to issue new debt in October to refinance a $561.70 MM bond due May, 2017.

Federal Reserve proposes new limits on Wall Street energy bets

The Federal Reserve outlined a plan to limit Wall Street bets on the energy sector by forcing companies like Goldman Sachs and Morgan Stanley to hold more capital against such investments.

Borealis considers new propane dehydrogenation plant in Belgium

Borealis will study the feasibility of a new propane dehydrogenation plant to be located at the existing Borealis production site in Kallo, Belgium.

Curacao inks deal with China firm to run Isla refinery

The government of Curacao has signed a preliminary agreement with China's Guangdong Zhenrong Energy to operate the aging Isla refinery and invest some $10 B to upgrade the facility.

Hedge funds pile into gasoline amid pipeline, refinery woes

Money managers have amassed their largest bullish position in US gasoline in more than three months as pipeline and refinery outages send futures and pump prices of the motor fuel soaring.

Chinese gasoil exports may hit Asia refiner margins for rest of year

Asian gasoil distillates refining margins are likely to remain bearish for the next few months on larger than usual exports from China.

EIA: Regional refining capacity makes US major importer and exporter of gasoline

The US simultaneously imports and exports gasoline, because of regional differences in gasoline supply and demand balances.

Russia's Lukoil plays down plans to sell refineries in Europe

Russia's second-biggest oil producer, Lukoil, played down the possibility of selling its oil refineries in Europe as margins improved.

India's Iran oil imports surge to highest in at least 15 years

India's daily oil imports from Iran in August surged to their highest in at least 15 years as the OPEC producer boosted its shipments to recoup market share ceded to rivals Saudi Arabia and Iraq under pressure from economic sanctions.

Bill Gates, Total lead $14 MM investment in Renmatix for biorefinery technology

Bill Gates and Total have decided to invest $14 MM in Renmatix, a producer of cellulosic sugar technology used to create biofuels.