Economics

Venezuelans face growing queues to buy gasoline

PUERTO ORDAZ, Venezuela (Reuters) — Venezuelan drivers are facing growing queues to buy gasoline despite having the world's largest oil reserves, adding to the OPEC country's woes as its refineries sputter and its socialist economic system crumbles.

Energy contract lawsuits expected to jump in Harvey's wake

HOUSTON (Reuters) — Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of US fuel output and pushing some oil production offline.

New Zealand's fuel shortage hits more flights and petrol stations

WELLINGTON (Reuters) — New Zealand's jet fuel shortage on Tuesday forced 39 flights to be cancelled, 13 of them international, with concerns the fuel crisis may spread after fuel stations in the country's largest city Auckland halted high-octane gasoline sales.

Mexican agency finds irregularities in Pemex, Odebrecht contract

MEXICO CITY (Reuters) — Mexico's top anti-corruption agency said on Monday it had identified $6.7 MM in "new irregularities" from a contract between state oil company Pemex and Odebrecht, the Brazilian engineering firm that has admitted paying bribes in a dozen countries in recent years.

White Owl acquires Clairmont terminal in Canada

CALGARY — White Owl Energy Services Ltd. announced the acquisition of the Pembina Pipeline connected Clairmont terminal in the Grande Prairie area of Alberta.

Industry Metrics

Rhodes, Mike, Hydrocarbon Processing Staff

US margins recorded solid gains as crack spreads for all products increased due to healthy domestic demand.

Business Trends: The state of the global refining sector

Nichols, Lee, Hydrocarbon Processing Staff

Over the past few years, the world has witnessed significant downstream capacity growth in all sectors of the hydrocarbon processing industry (HPI).

Upgrade the ALARP model as a holistic approach to project risk and decision management

Benintendi, R., De Mare, G., University of Salerno

The ALARP (as low as reasonably practicable) model was developed by the UK Health and Safety Executive to establish and justify risk acceptability limits.

EIA: Storm Harvey adds uncertainty to gas prices for Labor Day weekend

Hurricane Harvey has created considerable uncertainty for gasoline supply and prices, as the area affected by the hurricane is home to much of the nation's petroleum infrastructure. On Aug. 28, the US average retail gasoline price was $2.40/gal, the second-lowest price on the Monday before Labor Day since 2004. However, prices on that date do not yet reflect the full effects of Hurricane Harvey.

Dow, DuPont complete planned merger to form DowDuPont

(Reuters) — Dow Chemical Co and DuPont said on Friday the companies had successfully completed their planned $130 B merger to form DowDuPont.