Wood Group awarded 5-yr maintenance contract for Phillips 66 refinery

HOUSTON — Wood Group has been awarded a 5-yr, multimillion dollar contract by Phillips 66 to provide supplemental maintenance services and support for small capital construction projects and turnarounds to the Sweeny Refinery, approximately 65 mi southwest of Houston.

Rosneft, Trafigura close $12.9 B purchase of India's Essar Oil refinery

MUMBAI (Reuters) — Russian oil major Rosneft and partners closed their $12.9 B purchase of Indian refiner Essar Oil on Monday, giving them a foothold in one of the world's fastest growing oil users.

Refiner Valero's secret campaign against US biofuels mandates

(Reuters) — US biofuels regulations, which mandate mixing corn-based ethanol into gasoline, have lately drawn together a diverse cast of political opponents.

Tatneft to double TANEKO's refining capacity in 2017

MOSCOW (Reuters) — Russian mid-sized oil producer Tatneft plans to double the capacity of its TANEKO oil refinery to 14 MMt this year, TANEKO General Director Leonid Alekhin told Reuters.

Glencore, Chevron enter Mexico's recently opened fuel market

MEXICO CITY (Reuters) — US energy company Chevron Corp and trading firm Glencore on Thursday announced separate plans to enter Mexico's fuel market, as the long-hidebound sector begins to attract major foreign players.

Vietnam crude oil imports to hit record as refinery gets ready to start

SINGAPORE (Reuters) — Vietnam's crude oil imports will soar to record highs in August as the country ramps up fuel refining at a time when local crude output is dwindling.

Saipem awarded onshore $850 MM E&C contract for Kuwait pipeline, refinery project

San Donato Milanese — Saipem has been awarded a new contract in the onshore E&C sector worth approximately $850 MM. Activities involve engineering, procurement, construction and commissioning for the “Feed Pipelines for New Refinery Project (NRP)” in relation to the development of the new Al Zour refinery located in the south of Kuwait.

EIA: US crude stockpiles fall the most in nearly a year

NEW YORK (Reuters) — US crude oil inventories fell for the seventh consecutive week in their largest drawdown in nearly a year while exports and production continued to rise, the Energy Information Administration said on Wednesday.

XOS launches analyzer for testing critical elements in petroleum refineries

ALBANY, N.Y. — XOS has announced the worldwide release of Petra MAX, a new D4294 analyzer with combined analysis of 13 elements from P to Zn. Petra MAX delivers high-precision sulfur analysis in addition to rapid monitoring of critical elements like Ca, Fe, K, Ni, and V at sub-ppm levels.

Iraq sets up oil shipping, trading joint venture

DUBAI (Reuters) — OPEC member Iraq has formed a JV with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources.