Refining
Shell, Iogen kill plans to build Canada biofuel plant
Royal Dutch Shell and Iogen Corp. have killed a plan to build a next-generation biofuel plant in Canada. Iogen was once considered a world-leader in the development of ethanol from agricultural waste but has been unable to solve engineering problems that stand in the way of a commercially viable, large-scale plant.
UOP wins technology deal for hydrogen production at new Sinochem refinery
Sinochem. will use two of UOP’s Polybed PSA (pressure swing adsorption) systems to produce high-purity hydrogen at its new refinery. The hydrogen will be used for the production of clean transportation fuels, including diesel, gasoline and jet fuel, in the new 12 million tpy refinery.
Valero CEO believes refining capacity still too much in US, western Europe
"We believe there's still too much refining capacity in the US and western Europe," Valero CEO Bill Klesse said during a conference call with investors. "Some things die hard." High unemployment and higher vehicle fuel efficiency have tamped down on fuel sales on both sides of the Atlantic.
HPCL-Mittal may double north India refinery output
HPCL Mittal Energy Ltd. may double capacity of its north India refinery, billionaire steel tycoon Lakshmi Niwas Mittal said Saturday. Mumbai-based Hindustan Petroleum Corp. and Singapore's Mittal Energy Investment each have a 49% stake in HPCL-Mittal Energy, which has a capacity of 180,000 bpd.
SK Energy to invest $1.4bn on paraxylene plant at Incheon refining complex
SK Energy will build a paraxylene plant with a capacity of 1.3 million tons a year and will build a condensate splitter and a reformer, SK Innovation said in a statement. Commercial production is slated to begin in the second half of 2014, and SK Energy will target sales to the growing Chinese market.
Energy Transfer buys US refiner Sunoco for $5.3bn
Energy Transfer Partners agreed to acquire independent refiner Sunoco in a $5.3 billion deal that would greatly expand the reach of its pipeline system but could also saddle the company with aging refineries. Energy Transfer will also gain Sunoco's relatively successful chain of 4,900 gasoline stations.
Delta Air to buy Conoco refinery in Pennsylvania
Delta Air Lines will soon own the 185,000 bpd Trainer refinery complex near Philadelphia while entering into strategic sourcing and marketing deals with BP and Phillips 66.
BASF chief executive expects no drop in oil prices
German chemical company BASF doesn't expect oil prices to fall in the foreseeable future, CEO Kurt Bock said Friday at the firm's annual general meeting. Whether the company can pass on higher costs to customers will depend on how the economy develops, he said.
Italy's Eni sees challenging 2012 on weak economy, competition from renewables
On the energy markets, Eni said gas demand is expected to be weak due to the economic slowdown and increasing competition from renewables. The Italian company has one of the biggest gas operations in Europe. "The troubles on the financial markets are not over," an executive said.
Klesch, other buyers in talks to acquire Petroplus refinery in France
French Energy Minister Eric Besson said talks are underway with Swiss privately held Klesch Group and other potential buyers for the acquisition of a French refinery that belongs to Petroplus. The refinery is located in Petit-Couronne and is reported to have a capacity of 161,800 bpd.
- India's Reliance gets one-month US concession to buy Rosneft oil 12/24
- SOCAR signs deal to buy Gama Enerji gas plant in Turkey for $225 MM 12/24
- Japan's Eneos leads bids for Chevron’s Singapore oil refinery stake 12/24
- Larsen & Toubro awarded EPCC contract for BPCL's polyethylene plant 12/24
- Maire's Nextchem to acquire technology licensor and engineering company Ballestra 12/24
- bp agrees to sell a 65% shareholding in Castrol to Stonepeak at an enterprise value of $10 billion 12/24
