Crude oil
Refinery upkeep costs poised to rise, says Tyco
Refinery maintenance will likely become more expensive in the next few years as operators have to make costly changes to comply with new environmental regulations.
Enterprise, Enbridge finish reversal project for US Seaway crude pipeline
Enterprise Products and Enbridge announced that modifications to the Seaway crude oil pipeline allowing it to transport crude oil from Cushing, Oklahoma to the US Gulf Coast have been completed. The first flows of crude oil into the line are expected to begin this weekend.
US oil demand rising in gasoline, down for jet fuel
US gasoline deliveries were up 0.9% in April to 8.8 million bpd, monthly API trade data showed, continuing a positive domestic trend for the segment. However, April jet fuel and residual fuel deliveries declined, leading to a 0.3% drop in overall petroleum demand for the month.
Imperial Oil exploring sale of Nova Scotia refinery, may convert to terminal
Imperial Oil will explore selling its 88,000 bpd Dartmouth refinery in Nova Scotia, citing rising global competition and lower demand for refined products. The company, which ExxonMobil holds a majority stake in, said it will also consider conversion to a terminal, as well as other alternatives.
Enbridge to expand Canada, US oil pipeline system
Enbridge said Wednesday it's moving ahead with C$3.2 billion ($3.2 billion) in pipeline expansions, mostly to send more crude oil from Canada and North Dakota to the Midwest and eastern Canada. The expansions will accommodate rising crude oil production in Canada and the western US.
UK fuel tanker drivers avert strike after close vote
A threatened strike by fuel-tanker drivers has been avoided after members of the drivers' union voted to accept a deal offering common safety standards and training, as well as an accreditation scheme for drivers. The deal was reached after eight days of talks at the UK arbitration group Acas.
IEA predicts sharp rise in global refining production
Refiners are poised to ramp up production after seasonal spring maintenance and expected stronger demand for oil products through the summer, the IEA says. Fuel demand traditionally picks up in the northern hemisphere summer but especially in the US, the world's largest oil consumer.
Qatar looks to buy stakes in oil giants Shell, Eni
Qatar's sovereign wealth fund, continuing its recent splurge on overseas assets, is eyeing stakes in Anglo-Dutch energy group Royal Dutch Shell and Italy's Eni. Qatar is in "very advanced talks" to buy 3-5% of Shell, a major investor in Qatar, and a 3% stake in Italian oil giant Eni.
OPEC boosts group oil production to highest level since '08 recession
Acting to dampen market nervousness amid Iran supply fears, OPEC on Thursday said it was pumping more oil than the market needs - at levels not seen since summer 2008 - and signaled demand destruction had been halted for now. Crude production was up 317,000 bpd month on month.
PetroChina eyes idled Valero refinery in Aruba
PetroChina is reportedly in talks to buy the 235,000 bpd refinery for $350 million. After a January restart, Valero suspended operations in March, citing poor economics.
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- 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
