Refining
South Korea's SK E&C signs $1.6 B deal to modernize Iran oil refinery
SEOUL (Reuters) — South Korea's SK Engineering & Construction said on Sunday it had signed a deal with Iran's Tabriz Oil Refining Company worth $1.6 B to renovate the Iranian company's refinery facility.
Higher-cost crude could squeeze margins at US refiners
HOUSTON (Reuters) — US refiners could face a continued squeeze on profit margins in the months ahead as dwindling supplies of heavy crude from Venezuela and elsewhere are leading several to switch to higher-priced but easier-to-refine light, sweet crude.
Shell mulls German refinery upgrade to meet 2020 IMO sulfur rules
LONDON (Reuters) — Royal Dutch Shell is considering expanding the capacity of one of its German refineries to make oil products that meet an upcoming cap on the sulfur content of fuels used in shipping.
Indian Oil plans $2.4 B expansion of Gujarat refinery
NEW DELHI (Reuters) — India's top refiner Indian Oil Corp will spend $2.4 B to increase capacity at its refinery in western India by about a third over the next few years to meet rising local demand for fuel.
Sempra Energy's IEnova Unit, Valero sign contracts for liquid fuels projects in Mexico
SAN DIEGO — Sempra Energy announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), signed long-term contracts with a subsidiary of Valero Energy Corp. for the storage capacity of the liquid fuels marine terminal to be constructed in Veracruz and two inland storage facilities to be constructed in Puebla and Mexico City.
Petrofac JV awarded $2-B refinery contract in Oman
(Reuters) — Petrofac Ltd said Oman's Duqm Refinery and Petrochemical Industries awarded a $2 billion contract to the British oilfield services company's 50:50 JV with Samsung Engineering, sending its shares up as much as 9.5%.
Nigeria to legalize mini refineries, supply them with crude
ABUJA (Reuters) — Nigeria will legalize currently outlawed mini refineries in the Niger Delta oil hub by the end of the year and supply them with crude at a reasonable price, the presidency said on Thursday, fulfilling demands from community leaders.
US to reject biofuel program tweaks in blow to refiners, Icahn
WASHINGTON/NEW YORK (Reuters) — The Environmental Protection Agency will reject a proposed overhaul of the US biofuels program that would have shifted blending responsibility away from refining companies further down the fuel supply chain, three sources familiar with the matter told Reuters on Thursday.
Marathon Petroleum to pay $86 MM to settle Texas fire lawsuits
(Reuters) — US oil refiner Marathon Petroleum Corp said on Thursday it would pay $86 MM to settle lawsuits that allege injuries due to a January 2016 fire at its Galveston Bay, Texas refinery.
India's BPCL buys first cargo of US WTI Midland oil
NEW DELHI (Reuters) — State-run Bharat Petroleum Corp has bought 1 MMbbl of low-sulfur WTI Midland grade, the first purchase of the US grade by an Indian company, through a tender, an industry source with knowledge of the deal said.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
