Americas
HP Associations: A wealth of knowledge at AFPM annual meeting
At March’s American Fuel and Petrochemical Manufacturers (AFPM, formerly known as the NPRA) annual meeting in San Diego, California, it seems everyone had some important knowledge to share. Nowhe..
Conoco completes Phillips 66 downstream spinoff
Following the close of trading Monday, energy giant ConocoPhillips completed the spinoff of Phillips 66 as an independent downstream company. The downstream spinoff includes the 50% stake in Chevron Phillips Chemical, a 50-50 joint venture with Chevron.
Shell, Iogen kill plans to build Canada biofuel plant
Royal Dutch Shell and Iogen Corp. have killed a plan to build a next-generation biofuel plant in Canada. Iogen was once considered a world-leader in the development of ethanol from agricultural waste but has been unable to solve engineering problems that stand in the way of a commercially viable, large-scale plant.
Valero CEO believes refining capacity still too much in US, western Europe
"We believe there's still too much refining capacity in the US and western Europe," Valero CEO Bill Klesse said during a conference call with investors. "Some things die hard." High unemployment and higher vehicle fuel efficiency have tamped down on fuel sales on both sides of the Atlantic.
CPChem picks Sweeny site for new US PE plants, awards engineering to Jacobs
The two new polyethylene facilities on the Texas Gulf coast will each have a capacity of 500,000 tpy and use Chevron Phillips Chemical’s proprietary loop slurry technology. A front-end engineering and design (FEED) agreement was reached with Jacobs to design the polyethylene facilities.
Energy Transfer buys US refiner Sunoco for $5.3bn
Energy Transfer Partners agreed to acquire independent refiner Sunoco in a $5.3 billion deal that would greatly expand the reach of its pipeline system but could also saddle the company with aging refineries. Energy Transfer will also gain Sunoco's relatively successful chain of 4,900 gasoline stations.
Delta Air to buy Conoco refinery in Pennsylvania
Delta Air Lines will soon own the 185,000 bpd Trainer refinery complex near Philadelphia while entering into strategic sourcing and marketing deals with BP and Phillips 66.
Sempra taps Foster Wheeler for engineering work on Cameron LNG export site
Work scope for the Cameron LNG liquefaction site of Sempra Energy includes technical assistance for project development and execution of front-end engineering.
BG to sell 40% stake in Chile LNG plant to Enagas
UK-based BG Group agreed to sell its 40% equity interest in the GNL Quintero (GNLQ) liquefied natural gas terminal to Spain-based Enagas. The agreements reached apply to BG Group's shareholding in GNLQ - the owner and operator of the 2.5 million tpy regasification terminal in Quintero, Chile.
Kinder Morgan to buy out KKR in US natural gas JV
Natural gas pipeline operator Kinder Morgan Energy Partners L said it is taking full ownership of a natural gas joint venture by buying the 50% interest it doesn't already own from KKR & Co. for $300 million in KMP shares. The deal is expected to close by the end of May.
- Indonesia expects EU to adjust palm oil biofuel stance after EU ruling 1/17
- 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
- Petrobras reports record high refinery output in 2024 1/17
