Americas
Canada concerned by cheap Alberta crude prices
There has typically been a slight discount, of roughly $10 to $20 a barrel, on the price of Western Canadian Select oil compared to the benchmark West Texas Intermediate blend. But that discount has widened to nearly $40, economists say, and they warn it could balloon further due to pipeline capacity constraints.
US investigation blames lax safety culture for fatal Carbide chemical blast
The explosion resulted from a failure by the company to investigate similar but smaller explosive incidents over many years while deferring crucial maintenance of the large electric arc furnace that blew up, according to the CSB. Two workers inside died within 24 hours from severe burn injuries.
Japan's Tepco seeks to import gas from Cameron LNG project in Louisiana
Buying US gas would allow Tepco to diversify its sources of LNG and to tie the price of part of the natural gas it consumes to US prices, which are seen as more stable than the oil price benchmark most LNG trades at. Currently, Tepco buys most of its LNG from Brunei, Malaysia and other countries.
Solazyme, Mitsui to jointly develop triglyceride oils
The $20 million, multi-year agreement includes further development of Solazyme’s breakthrough high myristic algal oil, a valuable raw material in the oleochemical industry, as well as additional oils that Solazyme is developing for the oleochemical and industrial sectors, according to the companies.
OxyChem, Mexichem target early 2017 for startup of new Texas cracker
In August 2012, OxyChem signed a memorandum of understanding with Mexico’s Mexichem to evaluate a joint venture for the cracker. It is anticipated to have a capacity of approximately 1.2 billion lb/year of ethylene, or just above 500,000 tpy. Financial terms have not been disclosed.
Canada approves LNG exports for Shell, partners from British Columbia
LNG Canada, a consortium led by Royal Dutch Shell, is the second group to win a license from the Canadian government. Shell's partners in the project include PetroChina Co., Korea Gas Corp. and Japan's Mitsubishi. Last July, Shell applied for a license to export up to 24 million tpy of LNG.
Pemex blast caused by methane gas accumulation
Investigators are still working to determine where the gas came from, and whether or not there was anyone to blame. The reasons for ruling out the use of explosives include the fact that there was no crater at the site of the blast, the steel girders weren't fractured, and the bodies weren't dismembered.
PBF completes expansion of crude rail terminal at Delaware City refinery
The completion of the facility brings the amount of crude that can be offloaded at the refinery to 110,000 bpd -- 40,000 bbl of heavy Canadian crude oil, and 70,000 bbl of light crude. Trains carrying Bakken oil are expected to begin arriving at PBF's 182,200 bpd Delaware City refinery this week.
Magellan plans new Texas crude pipeline network
The project, estimated to cost approximately $50 million, is supported by long-term committed volumes and is expected to be fully operational by mid-2014 subject to necessary permitting.
Explosion at Pemex headquarters kills at least 35
Pemex CEO Emilio Lozoya said at a press conference that officials did not yet know the cause of the explosion, which destroyed part of an administrative building adjacent to the landmark skyscraper in Mexico City. One employee said the blast came from an electricity substation in the building.
- Update: Colonial Pipeline's main U.S. gasoline artery likely shut until Friday 1/16
- EIA: U.S. crude stocks fall, gasoline and distillate inventories rise 1/16
- South Korea considering buying more U.S. oil and gas 1/16
- Shell, CNOOC take FID on 1.6-MMtpy petrochemical complex expansion in China 1/15
- Plug Power seals huge deal with Allied Green Ammonia for 3-GW electrolyzer system 1/15
- Russian oil products trapped at sea by U.S. sanctions 1/15
