Americas
Braskem says wins final approval in global leniency deal
BRASILIA (Reuters) — Braskem SA, Latin America's largest petrochemical company, said on Tuesday that it had obtained approval from a Brazilian court for its leniency deal in a corruption case involving political kickbacks at Brazil's Petrobras.
Venezuelan refinery reels as PDVSA ships light oil to Cuba, Curacao
(Reuters) — Venezuela's 187,000-bpd Puerto la Cruz refinery is running at 16% of capacity, mainly due to a lack of light oil as state-run PDVSA ships a portion of its Mesa 30 crude to Cuba and Curacao, according to internal trade reports and workers.
EIA: As US airlines carry more passengers, jet fuel use remains well below its previous peak
The amount of jet fuel consumed by US airlines increased in both 2015 and 2016, although jet fuel use in 2016 remained 11% lower than its level a decade ago. Jet fuel use was lower despite the fact that the number of passengers traveling on US carriers in 2016 was 7% higher than in 2007.
Dow completes construction of enhanced polyethylene production unit in Texas
Completed on time, the 400 Mt polyethylene unit is the first of four new derivative investments currently under way at Dow’s manufacturing sites in Texas and Louisiana as part of the company’s previously announced $6 B expansion on the US Gulf Coast.
US CFTC says it is not probing Icahn's activity in biofuels credits
WASHINGTON (Reuters) — The US Commodity Futures Trading Commission informed eight Democratic US senators last month that it is not investigating biofuels credits after the lawmakers had urged it to probe billionaire Carl Icahn's activity in that market, according to a copy of a letter seen by Reuters on Monday.
Oil edges up in quiet holiday trade, focus on crude glut
(Reuters) — Oil prices rose slightly on Monday, paring steep losses from last week, but the market remained cautious as increases in US drilling activity have undercut an OPEC-led push to tighten supply.
Motiva says it's poised to embark on growth journey
HOUSTON — Following announcements at the Saudi-US CEO Forum earlier this week, Motiva Enterprises LLC confirms it has embarked on a growth journey to become the safest and most profitable downstream business in the US.
Plains weighs idling oil pipeline due to new competition
NEW YORK (Reuters) — Plains All American LP is considering idling its 1.2-MMbpd Capline pipeline, the nation's largest crude pipeline, as competing lines begin service, according to a bank report on the company's investor presentation this week.
Big drop in US oil stocks finally on the way, traders say
NEW YORK (Reuters) — Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years.
Tesoro announces expected closing date for Western Refining acquisition
SAN ANTONIO, Texas — Tesoro Corporation announced that the waiting period applicable to its proposed acquisition of Western Refining pursuant to the Hart Scott Rodino (HSR) Act has terminated. This satisfies one of the final conditions to the closing of the pending acquisition. Tesoro expects the closing of the acquisition to occur on June 1, subject to the satisfaction or waiver of the remaining customary conditions to closing.
- The Shipping Corporation of India and Mazagon Dock Shipbuilders sign contract for methanol dual fuel platform supply vessel 3/20
- Technip Energies invests in Verso Energy’s DEZiR eSAF project in Rouen 3/20
- Honeywell’s commercial launch of AI-powered control room assistant follows successful pilot 3/20
- Serbia secures U.S. sanctions waiver for its NIS oil firm 3/20
- Tanker carrying fuel originally bound for Cuba diverts to Trinidad 3/20
- Vietnam accelerates shift to ethanol fuel as Iran war drives up energy prices 3/20
