Refining
South Korean refining margins projected to remain strong through March
Refining companies are likely to keep run rates high, until maintenance season in March, to take advantage of the better margins, and this will support export volumes. Margins are now supported by strong demand for middle distillates, especially kerosene, due to winter demand in North Asia.
Valero exploring use of rail to move Canadian crude oil to US Gulf refineries
Valero already has expanded greatly how much oil from Texas and North Dakota its Gulf Coast refineries use. The San Antonio, Texas, company, the world's largest independent refiner, now is looking into using rail cars to bring Western Canadian oil to the Gulf Coast, home to about two-thirds of its refining capacity.
Hess to sell terminals, close New Jersey refinery
Hess no longer considers the terminal network -- which includes 19 terminals along the East Coast and which had been a main outlet for production for its Hovensa joint venture with PdVSA -- as central to its operations. Hess's St. Lucia terminal in the Caribbean also will be in the group offered for sale.
Vietnam inks refinery deal with Japan, Kuwait firms
State-owned PetroVietnam will own a 25.1% stake in the joint venture while Japan's Idemitsu Kosan and Kuwait Petroleum International will each hold 35.1%. Mitsui Chemicals of Japan will own the remaining 4.7%. The refinery will be able to process 10 million tpy of crude oil, the government said.
Bechtel acquires Chevron water treatment process
The WWT Process is a proprietary, two-stage sour water stripping process that separates ammonia and hydrogen sulfide streams from sour waters generated by a refinery’s process units. The technology also allows debottlenecking of sulfur plants and can reduce the cost of new sulfur units.
KBR named engineering partner by CRI for catalytic thermochemical technology
Under the terms of the contract, KBR will provide basic engineering services for broad, full scale commercial deployment of IH2 units. IH2 technology is a cost-effective catalytic thermo-chemical process to produce liquid transportation fuels from renewable resources.
US appeals court overturns key portion of EPA's renewable fuels mandate
The decision means the EPA will have to be more cautious in setting future requirements for buying advanced renewable fuels, including a mandate for this year that is still pending. In previous years, developers relied on the EPA's mandate to show investors there will be a market for their product.
US could become world's biggest liquid fuels producer by 2014
Total US production of liquid fuels could equal or surpass Saudi Arabia as early as next year, but crude oil output will still remain short, according to an EIA administrator.
Motiva restarts expansion segment of huge Port Arthur refinery in Texas
The process of restarting the unit began late last year, but was further delayed by the discovery of new pipe leaks and a small fire. A person familiar with operations said the segment will run at 200,000 to 225,000 bpd for about three to four weeks before ramping up to its full capacity of 325,000 bbl.
Nebraska approves new Keystone XL pipeline route
The approval by the state's governor, a Republican, is one of the last remaining hurdles the pipeline has to clear before getting a final permit from the Obama administration. Meanwhile, the US State Department is expected to release a draft of its own findings in the coming days.
- India's Reliance gets one-month US concession to buy Rosneft oil 12/24
- SOCAR signs deal to buy Gama Enerji gas plant in Turkey for $225 MM 12/24
- Japan's Eneos leads bids for Chevron’s Singapore oil refinery stake 12/24
- Larsen & Toubro awarded EPCC contract for BPCL's polyethylene plant 12/24
- Maire's Nextchem to acquire technology licensor and engineering company Ballestra 12/24
- bp agrees to sell a 65% shareholding in Castrol to Stonepeak at an enterprise value of $10 billion 12/24
