Americas
Global distillate markets remain oversupplied as freight demand lags
Recent data have been mixed. The consumer side of the US economy appears to be strong, but the industrial side is still struggling. And in the rest of the world, growth appears to be slowing.
ExxonMobil to sell Canadian retail fuel network
The sales by ExxonMobil subsidiary Imperial Oil are anticipated to close by year-end 2016, subject to regulatory approvals. Proceeds from the transactions are valued at about C$2.8 billion.
Crude prices jump after bullish US gasoline draw
Gasoline inventories fell 4.5 million bbl, much more than the polled number of 1.4 million bbl. That was also the largest weekly draw in almost two years for gasoline, according to EIA data.
G2X Energy contracts Johnson Matthey, Toyo for Lake Charles methanol
Once complete, the G2X facility, known as Big Lake Fuels Methanol Plant, will produce 1.4 MMtpy of commercial-grade methanol. Construction will take three years to complete.
Hedge funds turn strongly bullish on oil markets
Signs of financial distress across much of the oil industry, coupled with data showing production outside OPEC falling, continued market chatter about an agreement among producers, and evidence of strong demand for gasoline, have allowed hedge funds to construct a more bullish narrative.
US regulators eye increase to truck fuel efficiency
The decision by the US National Highway Traffic Safety Administration (NHTSA) and Environmental Protection Agency to consider additional public comments through April 1 comes amid a sharp slump in US large truck sales that has sparked thousands of layoffs.
Dow Chemical: New PDH plant in Texas passes performance testing
The passing of the test certifies that the unit is operating at full capacity, and is meeting the Honeywell UOP Oleflex performance guarantee, according to Dow officials.
Linde, Elliott Group align on small, mid-scale LNG
The parties have developed a standardized and modularized concept for the main refrigerant cycle compression section of Linde's StarLNG plants, ranging from 0.2 MMtpy to 1.3 MMtpy.
Phillips 66 reports emissions, plant repairs at Borger refinery in Texas
"The line going to Unit 34's SRU [sulfur recovery unit] incinerator is partially plugged with sulfur," Phillips 66 said in a filing to the Texas Commission on Environmental Quality. The company said that sections of that line will be heated in an effort to melt out the sulfur.
Petrobras confirms explosion at Texas refinery as worker suffers burns
The explosion caused extensive damage to a 35,000 bpd light cycle oil hydrotreater, also called a hydrogen desulfurization unit, which uses hydrogen to convert the oil into diesel and remove sulfur.
- 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
