Economics

Industry Metrics

Rhodes, Mike, Hydrocarbon Processing Staff

US product markets improved, supported by higher export opportunities amid unexpected refinery outages.

Business Trends: The future of LNG—Part 1

Nichols, Lee, Hydrocarbon Processing Staff

Over the past several years, new gas processing/LNG capacity has surged in nearly every region. Growth on both the supply and demand sides has resulted in the announcement of billions of dollars of capital investment across the world. Millions of tons of new LNG import and export capacity have commenced operations, with hundreds of millions of tons still under development.

2018 Industry Leaders’ Viewpoints

Nichols, Lee, Hydrocarbon Processing Staff

To kick off the new year, industry leaders and esteemed colleagues shared their viewpoints on 2018 and beyond with Hydrocarbon Processing. These viewpoints offer insight into growing regions of activity, technological advances, and how the downstream industry can innovate in 2018 and into the future.

Maximizing energy efficiency in paraxylene production—Part 2

Colling, C., BP AMOCO

Due to reduced margins, higher energy costs and rising atmospheric carbon dioxide content, energy efficiency has never been more important in refining and petrochemicals. This is particularly true in the modern aromatics complex, which produces paraxylene (pX), benzene and other aromatics from naphtha.

US tax overhaul likely to spur spending by refiners, pipeline cos

NEW YORK (Reuters) — US refiners and pipeline companies are likely to embark on a capital spending spree in the next year, fueled by a provision in the recently-passed US tax bill that rewards investment in new projects, said energy industry lobbyists and analysts.

Nigerian motorists queuing for fuel told there are no shortages

ABUJA (Reuters) — Nigeria’s state oil company assured motorists on Tuesday there was no shortage of petrol and urged them not to engage in panic buying after long queues built up at filling stations.

South Africa to hike petrol, diesel prices in December

JOHANNESBURG (Reuters) — The retail price of petrol and the wholesale price of diesel in South Africa will increase from Wednesday due to a weaker rand currency and higher crude oil prices, the energy department said on Monday.

ExxonMobil to merge refining, marketing divisions

IRVING, Texas — ExxonMobil Corporation announced it will combine its refining and marketing operations into a single company, ExxonMobil Fuels & Lubricants Company, in 1Q 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has been appointed president of the combined division by ExxonMobil’s board of directors, effective Jan. 1, 2018.

Industry Metrics

Rhodes, Mike, Hydrocarbon Processing Staff

The US saw solid product demand, despite a decline following the end of the driving season, and reduced scheduled maintenance lent some support.

Global: Increase in Russian fuel excise tax may hit refinery profitability

Gerden, E., Contributing Writer

The Russian government’s recent decision to raise the excise tax on motor fuel by 1 RUB/l in 2018 may lead to serious losses for the country’s domestic refining industry.