Crude oil
API sees falling US demand for gasoline, distillates
Demand for gasoline dropped 2% from a year earlier, to 8.572 million bpd, the API said. The nine-month average demand of 8.73 million bpd was down 0.7% from the same time in 2011. September demand for distillate fuel (heating oil/diesel) was 4% below the year-earlier level, at 3.777 million bpd.
TransCanada shuts Keystone oil line to inspect pipe
The anomaly, found in a section of the pipeline in Missouri, wasn't a leak, a TransCanada spokesman said. The stoppage was taken as a preventative measure and wouldn't affect the oil shipments to customers "for now," and TransCanada was working with shippers to mitigate any interruptions.
BP nears deal to sell stake in TNK-BP crude venture to Russia's Rosneft
TNK-BP has been one of BP's best investments, returning $19 billion in dividends on the roughly $8 billion paid for its 50% stake in 2003. The venture accounts for nearly a quarter of BP's reserves and production. But tensions with AAR over strategy and governance have plagued the venture for years.
Murphy Oil to spin off US downstream business
Murphy Oil on Tuesday said it expects to complete the spinoff of Murphy USA in 2013. Murphy USA’s business will consist of retail marketing of petroleum products, a chain of retail gasoline stations, seven product distribution terminals and two ethanol production facilities in North Dakota and Texas.
Canada seeks more energy exports to India, less dependence on US
Canada's search for alternative destinations, including India, China and Japan, for its trove of hydrocarbon resources coincides with India seeking stable supplies of oil and gas to augment its own, relatively limited, energy resources, which currently satisfy less than a quarter of its requirement.
OPEC lowers global oil demand forecasts for 2012
Economic growth is mostly set to come from emerging markets, but these countries are reliant on exports to developed economies, which have performed sluggishly this year. Moreover, improvements in the global economy are dependent on the success of government and central-bank action.
Sunoco completes US merger with Energy Transfer
Energy Transfer gains 7,900 miles of crude oil and refined fuel pipelines from Sunoco Logistics Partners master limited partnership and give it a toe-hold in the Marcellus and Utica shale regions, increasingly productive sources of oil and natural gas. Sunoco now becomes a subsidiary of Energy Transfer.
HP Impact: Marginal increase forecast in North American lubricant market
Marginal increase forecast in North American lubricant marketAlthough it is estimated that there will be a 3% increase in tonnage carried by private fleet operators in the US through 2016, this is exp..
HP Construction: North America
Jacobs Engineering Group Inc. has a contract from Methanex Corp. to provide engineering, procurement and construction services for a methanol production facility in Louisiana. Officials estimate the c..
HP Construction: Europe
Clariant has inaugurated what is said to be Germany’s biggest pilot plant for producing climate-friendly cellulose ethanol from agricultural waste. Located in Straubing, Bavaria, and supported by..
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