Refining
Petrobras to boost gasoline, diesel imports in 2012
Brazil's Petrobras will need to import more gasoline and diesel fuel in 2012 as the company's refineries continue to fall short of domestic demand, Petrobras downstream director Paulo Roberto Costa said. Petrobras is also suffering from delays to refinery projects that will help trim the company's shortfall.
API sues EPA over US cellulosic biofuel mandate
The API) filed a lawsuit with the DC Circuit Court challenging what it called “unachievable requirements” from the US EPA for use of cellulosic biofuels in the 2012 Renewable Fuel Standard (RFS). The API recommends that EPA base their prediction on at least two months of actual production data.
Oil producers start to worry about rising prices
As they prepare to meet with consumers at an energy summit in Kuwait, some of the world's top oil producers voiced concern that rising oil prices may backfire by jeopardizing a global economic recovery. The UK's Brent contract has risen by 17% since the start of the year amid tensions with Iran.
AFPM '12: Tesoro CEO criticizes "challenging" regulatory environment in US
Executives at the annual meeting in San Diego said the oil industry needs to do a better job of informing the public what they do and why fuel prices have increased.
Malaysia's Petronas picks Technip for FEED work on refinery, petrochemical project
Technip has been awarded a front-end engineering design (FEED) contract by PETRONAS for its proposed refinery and petrochemical integrated development (RAPID) project located in the state of Johor, Malaysia. The contract is scheduled for completion in the second half of 2013.
Chevron says oil, gas output to jump 20% by 2017
Chevron said Tuesday its oil and gas production will inch up this year but it expects output to jump 20% in five years as massive liquefied natural gas (LNG) projects in Australia commence operations. Chevron officials noted that annual production could vary depending on oil prices.
Valero contract worker dies after flash fire at Memphis refinery
Nicolas Cuevas, one of three contract workers injured in a flash fire last week at Valero Energy Corp.'s oil refinery in Memphis, Tenn., died Saturday afternoon, a Valero spokesman said. The men were working at the flare platform as part of the crude unit turnaround that got under way March 2.
Motiva to convert N.J. storage to ULSD, biodiesel
Motiva plans to convert all of its high sulfur diesel heating oil (2000 ppm) storage to ultra low sulfur diesel (ULSD) (15 ppm) at its Sewaren Terminal in New Jersey. That will allow Motiva Sewaren, a 5mn bbl refined products terminal, to take deliveries of ULSD for NYMEX-based contracts via marine and pipeline.
US Senate kills latest bid to speed approval of Keystone oil pipeline
The US Senate defeated an attempt by Republican lawmakers to grant congressional approval for the construction of a new oil pipeline, after the White House confirmed that President Barack Obama personally called senators to persuade them to reject it. Republicans were trying to override Obama's objection.
OPEC says Asian growth offsets low OECD demand
The fundamental forces driving the world oil market were broadly stable in February, due to the familiar pattern of consumption growth in Asia offsetting weaker demand in the West, the Organization of Petroleum Exporting Countries said Friday. Recent data hasn't been encouraging, it said.
- 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
