Americas
EPA waives clean gasoline standards in Louisiana
Louisiana Governor Bobby Jindal requested the waiver, which the EPA said is effective for 10 days. It allows the sale of conventional gasoline with a higher vapor pressure than usually allowed under the agency's air-pollution rules, easing supply pressures created by Hurricane Isaac.
Gulf refiners brace as Hurricane Isaac strikes land
UPDATE: Isaac intensified to a hurricane Tuesday prior to making an evening landfall in extreme southeast Louisiana. Several major downstream facilities appear in its path.
Venezuela refinery tank fires mostly extinguished
Officials, including Oil Minister Rafael Ramirez, said through state media outlets that the blaze at the 640,000 bpd Amuay facility was extinguished. Government-run television VTV and state oil company Petroleos de Venezuela, or PdVSA, both reported that all three of the affected tanks were cleared.
US finalizes new fuel efficiency standards for autos
The final rule sets an average fuel economy requirement of 54.5 miles per gallon by 2025 for each auto maker’s fleet, the same level the administration initially proposed in November 2011. Republican presidential candidate Mitt Romney opposes the standards set by the Obama administration.
Sunoco to supply crude to Continental for reopened Kentucky refinery
Continental Refining purchased the then-closed Somerset refinery in December 2011 and immediately began updating the process plant’s operations. Now reopened, the Continental plant is the only oil refinery within a 170-mile radius, which results in significantly decreased transportation costs.
US Gulf refiners shut down operations ahead of likely Hurricane Isaac
The storm appears poised to affect US refining operations, about 19% of which are in Louisiana and Mississippi. Forecasters say Isaac should make landfall by Wednesday, most likely in southeast Louisiana.
US chemicals firm TPC to go private in $850mn deal
First Reserve director Neil Wizel said the investment firm plans to help TPC Group expand its core business to capitalize on shale plays in North America and the resulting increase in supply of natural gas and natural gas liquids. The deal is expected to close in the fourth quarter.
Venezuela refinery explosion boosts prospects for US Gulf refiners
Whether the Amuay refinery can return to normal rates with a reduced storage capacity is in doubt, analysts said, adding that “the outage has reportedly forced” state-owned PdVSA to buy products from US refiners.
Explosion at Amuay refinery in Venezuela kills 41; fire still burning
Crews battling the fire, which broke out early Saturday following a likely gas leak explosion that killed 41 people and injured over 80 more, were dealt a setback by shifting winds overnight. The government has a stance that the plant could resume operations in just a couple days.
Olin buys caustic soda group KA Steel Chemicals
KA Steel, headquartered in Lemont, Illinois, is one of the largest distributors of caustic soda in North America and one of the leading bleach manufacturers in the Midwest. The purchase price for Olin was $328 million.
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- First-ever ammonia and propane co-loaded vessel completes voyage from U.S. to Europe 1/17
- China's vast refining sector faces shakeout as fuel demand peaks 1/17
- Oman Oil Marketing Co. and TFG Marine establish bunker fuel supply JV 1/17
- Beware Egypt's smokestack onshoring as cement exports surge 1/17
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