Crude oil
HP Construction: Asia-Pacfic
Technip has two contracts, worth approximately €50 million in total, for the front-end engineering and design (FEED) services of two refineries in Kazakhstan. The scope involves the modernization..
HP Innovations: Innovations
Neste Oil makes progress on microbial oil plantFinland’s Neste Oil recently completed the first phase of a pilot plant for producing microbial oil. The €8 million plant is expected to be com..
Northeast US refineries nearly back to full strength after Hurricane Sandy
Sandy, which made landfall in New Jersey Monday, caused refineries with a total of 1 million bpd in capacity to shut down or cut operating rates. Most refineries are back to normal, although power outages have made getting supply to gas stations difficult and forced drivers to wait in long lines to refuel.
Gunvor signs deal with Russian company Rosneft to export refined products
Commodity trader Gunvor Group won the contract to export products from Rosneft's three refineries in Russia's Samara region following a tender. Gunvor will export the products via its Ust-Luga terminal on the Baltic Sea and its 50%-owned Novorossiysk terminal on the Black Sea.
US energy independence not necessary to reach energy security – report
Deloitte Center for Energy Solutions recently released a report titled, "Energy independence and security: A reality check," that examines whether or not energy independence is necessary to achieve energy security. Deloitte contends that the answer is "probably no."
Midstream processors reap benefits as US targets liquid shale plays – PwC
There were nine midstream deals that contributed $11.1 billion. According to PwC, there has been a rise in midstream processing deals during 2012 due to the oil and gas liquids being extracted from the shale plays and as companies think through the various scenarios that may play out with exports.
French union calls for 24-hour worker strike at all refineries, oil terminals
The workers at all the refineries in the country will walk out Nov. 5 to protest against the order of a local court to liquidate the refinery of Petit-Couronne, on the northern French coast, which belonged to insolvent Swiss-based refiner Petroplus SA, unless a buyer for the plant appears by then.
NGL profitability weakens amid rising US supply
Prices for natural gas liquids (NGLs) have dropped precipitously this year amid growing supplies, weakening margins for a key driver of US shale development. But extracting NGLs, such as ethane, propane and butane remains more attractive than producing dry natural gas, the report says.
Rosneft to buy entirety of Russian TNK-BP venture
A Rosneft takeover of TNK-BP would bring the Russian state's control over oil production to nearly 50% and mark a major milestone in Mr. Putin's reassertion of Kremlin control over the strategic oil sector, much of which was sold off in the privatizations of the 1990s to well-connected tycoons.
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.
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