Economics

Tanzania increases fuel prices due to rising crude costs

DAR ES SALAAM (Reuters) — Tanzania's energy regulator raised the maximum price for petrol, diesel and kerosene on Wednesday, citing rising international crude oil prices.

US tax overhaul likely to spur spending by refiners, pipeline cos

NEW YORK (Reuters) — US refiners and pipeline companies are likely to embark on a capital spending spree in the next year, fueled by a provision in the recently-passed US tax bill that rewards investment in new projects, said energy industry lobbyists and analysts.

Nigerian motorists queuing for fuel told there are no shortages

ABUJA (Reuters) — Nigeria’s state oil company assured motorists on Tuesday there was no shortage of petrol and urged them not to engage in panic buying after long queues built up at filling stations.

South Africa to hike petrol, diesel prices in December

JOHANNESBURG (Reuters) — The retail price of petrol and the wholesale price of diesel in South Africa will increase from Wednesday due to a weaker rand currency and higher crude oil prices, the energy department said on Monday.

ExxonMobil to merge refining, marketing divisions

IRVING, Texas — ExxonMobil Corporation announced it will combine its refining and marketing operations into a single company, ExxonMobil Fuels & Lubricants Company, in 1Q 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has been appointed president of the combined division by ExxonMobil’s board of directors, effective Jan. 1, 2018.

Industry Metrics

Rhodes, Mike, Hydrocarbon Processing Staff

The US saw solid product demand, despite a decline following the end of the driving season, and reduced scheduled maintenance lent some support.

Global: Increase in Russian fuel excise tax may hit refinery profitability

Gerden, E., Contributing Writer

The Russian government’s recent decision to raise the excise tax on motor fuel by 1 RUB/l in 2018 may lead to serious losses for the country’s domestic refining industry.

Editorial Comment: Hydrocarbon Processing forecasts $361 B in total HPI spending in 2018

Nichols, Lee, Hydrocarbon Processing Staff

What is the state of the global hydrocarbon processing industry (HPI)?

Construction—The cornerstone of a successful project

Rentschler, C., Engineering Consultant; Shahani, G., ShureLine Construction

Construction is essentially a cyclical business.

Russian minister says OPEC oil deal hurting domestic economy

MOSCOW (Reuters) — Russia's economic growth in October was negatively affected by a global deal between members of OPEC and Russia to curb crude oil production, Russia's economy minister said on Thursday.