Americas
EIA warns of diesel price spike if Sunoco closes Philadelphia refinery
Ultra-low-sulfur diesel fuel - already at a record high for this time of year - could spike higher if Sunoco proceeds with plans to shut the 335,000 bpd refinery in July.
BP in talks for $14bn Gulf oil spill settlement
BP and plaintiffs suing over the 2010 Gulf of Mexico oil spill are in talks for a $14 billion settlement funded by monies originally set aside by the company for out-of-court settlements, Bloomberg News reported Monday, citing three people familiar with the negotiations.
Blackstone to invest $2bn in Cheniere US LNG plant
Blackstone Group is investing $2 billion in a liquefied natural gas (LNG) operation by buying senior subordinated paid-in-kind units from Cheniere Energy. Cheniere will use proceeds to develop its Sabine Pass liquefaction project at the Sabine Pass LNG terminal.
TransCanada to move ahead with Gulf Coast leg of Keystone XL pipeline
The company will build the southern leg while a new application for the whole pipeline is reviewed by the US government.
Formosa eyes new olefins cracker in Texas
Formosa Plastics will build a 800,000 tpy olefins cracker, a 600,000 tpy propane dehydrogenation unit and a 300,000 tpy low-density polyethylene plant at its Point Comfort site.
US chemical production shows improvement
January 2012 output rose on both a month-on-month and year-on-year basis, according to monthly figures from the American Chemistry Council (ACC) trade group.
Crude tank explodes at Texas fuel storage terminal
Firefighters have extinguished a crude oil tank fire that began Thursday night at a fuel storage terminal in Galveston, Texas, according to news media reports. The facility has the capacity to handle 1.25 million bbl of liquid cargo storage and 350,000 tons of dry flat storage, according to the Galveston Daily News.
Calumet, MDU to explore building diesel refinery in North Dakota
MDU Resources and Calumet say they will explore the feasibility of jointly building and operating a 20,000 bpd diesel refinery in southwestern North Dakota. Site selection, permitting, crude oil feed procurement, marketing and engineering studies are currently underway.
TransCanada to extend Tamazunchale natural gas pipeline in Mexico
TransCanada said Friday that it will build, own and operate the Tamazunchale Pipeline Extension in Mexico. TransCanada expects to invest approximately $500 million in the pipeline and anticipates an in-service date in the first quarter of 2014.
Lower crude exports from Iran could trigger 30% spike in oil prices - IMF
A halt of Iran's oil exports to Organization for Economic Cooperation and Development (OECD) countries could trigger a 20%-30% spike in oil prices, an International Monetary Fund official said. The EU last month said it would ban all purchases of oil from Iran for countries within the union.
- 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
