Refining
US gasoline, distillate stocks fall as run rates rise
Refinery crude runs rose by 414,000 bpd and refinery utilization rates rose 2 percentage points to 90.4% of total capacity, the highest rate seasonally since 2005.
Colombia’s Ecopetrol seeks $2 billion from CB&I over refinery costs
Ecopetrol has said bad management at CB&I increased spending on the project by $4 billion, or double the original price tag. Ecopetrol filed the suit before the International Chamber of Commerce.
US, Indian gasoline demand boosts outlook for oil
Hedge funds have turned very bullish about the outlook for oil prices based on indicators showing strong gasoline demand in the US and India.
US investigates Brazil’s Odebrecht, Braskem over naphtha contracts
Local daily Valor Economico said the Justice Department was focusing its investigation on whether the companies violated the Foreign Corrupt Practices Act in naphtha supply contracts.
Iran’s lack of storage access limits oil exports to European refiners
Some 45-50 million barrels of Iran's oil are estimated to be held in tankers at sea, barely changed from the amounts thought to be in floating storage before sanctions were lifted at the start of the year.
Morocco’s refiner Samir appeals liquidation ruling
Samir, controlled by Corral Petroleum, halted production last August due to financial difficulties. "We had 10 days to file an appeal and we finally did it on Thursday," Samir's lawyer said.
Meridian Energy applies for permits to build new North Dakota refinery
The proposed Davis refinery in North Dakota will be the first “greenfield” complex high-conversion refinery built in many years, according to company officials.
Oil price war scares sense of US energy security
Imports will almost certainly increase further over the remainder of the year as refineries ramp up production to meet record gasoline consumption and US crude output continues to decline.
US energy workers hit hard by investment in company stock plans
In Oklahoma and Texas, workers are delaying retirement plans, surrendering trucks, cars and land in personal bankruptcy cases, or just praying oil prices will recover.
Russia exports more oil as refineries go offline
Russian refineries traditionally have the largest offline capacity in April, as companies scramble to finish maintenance before consumption of oil products peaks in summer.
- Valmet to acquire Severn Group to strengthen Process Performance Solutions segment 12/22
- World’s first dynamic green ammonia plant starts operations in Denmark 12/22
- Baker Hughes to supply liquefaction equipment for Commonwealth LNG export project 12/22
- South Korea petrochemical firms on track to cut up to 3.7 MM tons of output 12/22
- MOL and JERA sign HoAs for the charter of ammonia carriers 12/22
- China's November fuel oil imports up 15% from October 12/22
