Americas
US oil demand fell in November on lower gasoline consumption - API
Total US petroleum deliveries (a measure of demand) fell 1.1% in November compared with November a year ago, pulled down by a 1.8% decline in motor gasoline demand to an 11-year low for the month, according to a monthly report from the American Petroleum Institute (API).
US refining profits poised to drop in 2012
As a WTI cost advantage fades, the sluggish US economy will play a bigger role in profits made from the sale of refined petroleum products.
Chesapeake Midstream to buy Chesapeake Energy Marcellus shale assets
Chesapeake Midstream Partners agreed to buy midstream assets in the Marcellus Shale ultimately owned by Chesapeake Energy Corp. for $865 million. The acquired unit gives Chesapeake Midstream a 47% holding of an integrated system of assets consisting of about 200 miles of gathering pipeline in the Marcellus Shale.
Petrobras says one dead, two injured from Brazil rig accident
Petrobras said a worker died and two were slightly injured in an accident on the company's PUB-03 oil rig in offshore waters in Rio Grande do Norte state, northeast Brazil on the night of Dec. 26.
Petrobras halts some Reduc refinery ops after fire
Brazilian state-controlled oil producer Petroleo Brasileiro, or Petrobras, said it halted operations at a distilling unit at its Duque de Caxias, or Reduc, oil refinery in Rio de Janeiro state Monday due to a small fire. The incident won't cause any shortfall in products output.
Venezuela's PdVSA signs gas supply contract with Eni, Repsol
Venezuelan state energy giant Petroleos de Venezuela signed a supply contract with Italy's Eni SpA and Spain's Repsol YPF that will allow for development of the South American country's massive offshore Perla gas field. Project development has been slow, which some critics attribute to red tape and regulatory uncertainty emanating from President Hugo Chavez's government.
US energy R&D spending forecast up 23% for 2012
Energy-related research and development (R&D) sponsored by US manufacturers and technology firms will reach nearly $6.7 billion in 2012, up 23.1% from 2011, according to a forecast from research group Battelle. Overall, global spending by energy-related companies is expected to grow by 7.8% to reach $17.9 billion.
US fuel prices may become volatile after Northeast refinery closures
The Energy Information Administration (EIA) warns that a lack of supply flexibility could lead to price spikes in early 2012.
Praxair to acquire Houston welding-gas supplier
Praxair has agreed to acquire Houston-based Texas Welders Supply Co. (TWSCO), the companies confirmed on Friday, noting that the deal should close by December 31. TWSCO, a long-time distributor of Praxair, is the largest independent gas and welding products distributor in the greater Houston area.
ExxonMobil to consolidate businesses of fuels marketing, lubricants
The ExxonMobil board of directors will approve the consolidation of ExxonMobil Fuels Marketing Co. and ExxonMobil Lubricants & Petroleum Specialties Co. into ExxonMobil Fuels, Lubricants & Specialties Marketing Co., effective February 1, 2012.
- 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
