Crude oil
US imports of Saudi crude highest since July 2008
US imports of crude oil from Saudi Arabia climbed 45.7% from a year earlier in April to the highest level since July 2008, according to US government data. The rise in US imports from Saudi Arabia came as total crude oil imports from all sources declined in the month amid higher domestic production.
US oil, gas producers redeploy Gulf of Mexico staff as Debby weakens
Oil and gas producers in the US Gulf of Mexico moved to restaff their offshore operations and restart disrupted output Monday, as a weakening Tropical Storm Debby turned toward the western Florida coast. The National Hurricane Center said the storm had maximum sustained winds of 45 miles an hour.
Gazprom makes bid for BP stake in Russia TNK-BP
An arm of Russian state-controlled Gazprom has lodged a bid for BP's $25 billion stake in its venture in the country, The Sunday Times reports. The move will increase pressure on AAR, the group controlled by BP's Russian billionaire partners that owns the other half of TNK-BP, said the newspaper.
Global liquid fuels demand seen rising 0.9%/yr - EIA
Global liquid-fuels demand is expected to rise by 0.9% between 2010 and 2035, to 109.5 million bpd, with the world becoming more reliant on OPEC oil, according to a new US government forecast released on Monday. OPEC's share of world demand will rise to 41.9% in 2035 from 39.7% in 2010.
US fuel demand shows recent improvements - API
Total US petroleum deliveries rose 0.5% in May over the same month last year to 18.5 million bpd, according to monthly data from the American Petroleum Institute (API) trade group. May distillate demand was up 2.0%, though down 1.5% for the first five months. Jet fuel demand rose in May.
Sunoco Logistics unveils new pipeline project for West Texas crude
The initial phase would move 150,000 bpd of Permian oil into the Beaumont, Texas area, by reversing an existing pipeline and using excess capacity available in another line. It could start operating within 6 to 9 months at an initial rate of 90,000 bpd, ramping up to full capacity by mid-to-late 2013.
Canadian oil spills raise pipeline safety worries
Three recent oil spills have raised concern over pipeline safety in Canada, just as the government and domestic oil industry are seeking support for a series of new projects.
Refiners pay $21.6mn to settle US hot fuel dispute
Six refiners agreed to settle a US class-action complaint that they sold motor fuel at prices that didn't reflect the effect of high temperatures on fuel volume and quality. BP, Exxon Mobil, ConocoPhillips and Shell each agreed to pay $5 million in settlements, while Sinclair and Citgo each agreed to pay $800,000.
GE, Sargas align on carbon capture technology for enhanced oil recovery
The Sargas power plant delivers significantly lower costs of electricity and captured CO2 per ton, therefore enabling the Sargas-led engineering, procurement and construction (EPC) consortium to offer industrial-scale volumes of economically competitive CO2 for EOR applications worldwide.
Enbridge faces complaints of oil sands favoritism from Bakken producers
The dispute underscores the growing scramble for limited pipeline space, as burgeoning production from the Bakken and light, tight oil plays in Canada compete with the expanding oil sands for transportation space.
- Malaysia plans to produce sustainable jet fuel in 2027 11/27
- ADNOC launches $80-B low-carbon energy and chemicals investment company 11/27
- Chevron sees California's fuel inventory law raising prices for customers 11/27
- Clariant’s MegaMax™ catalysts to power China’s first biomass-to-green methanol project 11/27
- easyJet, Renavia and WFS sign MoU for long-term supply of SAF 11/27
- Dow, Ambipar partner to promote plastics recycling in South America 11/26
