Refining
Saudi Arabia slashes oil production in December
As demand for crude from the Organization of the Petroleum Exporting Countries falls this year, the Saudi cut shows that the kingdom, "still wants to have, and does have, the role as the swing producer in the market," said Thina Saltvedt, a senior oil market analyst at Nordea Bank Norge.
Chevron sees weaker US, global refining margins
During the first two months of the fourth quarter, US refinery crude-input volumes decreased by 77,000 bpd compared to the third quarter, driven primarily by the continued shutdown of the Richmond, California refinery crude unit. International refinery crude-input volumes increased 9,000 bpd.
Tesoro to convert Hawaii refinery to import terminal
Tesoro had been trying to sell the 94,000 bpd refinery since January 2012 because of eroding profit margins. The conversion to an import facility, expected to occur in April, will allow Tesoro to cut costs related to processing fuel there while still allowing the company to distribute fuel in the state.
South Korean refining margins boosted by exports
For the January-March period, South Korean refining margins are expected to recover on the back of "rises in [global] kerosene and diesel oil prices amid expanding demand for heating oil" and an "upswing in the chemical business," Hyundai Securities said in a research note.
Phillips 66 signs oil-by-rail contract for Bayway refinery in New Jersey
The contract with Global Partners also cements North Dakota crude's hold in the East Coast refining belt, where two other refiners already get Bakken crude by rail.
Eni reports Gela refinery working normally again after port suspension
Port authorities Friday authorised a new tugboat to start work in Gela after a suspension had meant that ships couldn't service the refinery for days, which would have eventually resulted in a stoppage at the plant. The Gela refinery has a daily production of about 100,000 bbl of oil.
Valero venture to construct Texas marine terminal
Valero's marine terminal will receive crude tankers of up to Suezmax class, and will be able to operate without the daylight restrictions imposed on other terminals in the upper Sabine-Neches waterway. The crude dock is scheduled for completion in the fourth quarter of 2013.
Motiva shuts leaky CDU at expanded Texas refinery
The Motiva refinery is jointly owned by Shell and Saudi Arabian Oil Co. The new crude unit is the culmination of a $10 billion expansion project that added 325,000 bpd of capacity and made the refinery one of the largest in the world. The unit, first commissioned in May, has experienced several setbacks.
Enbridge plans pipeline expansions in Canada, US
The Canadian pipeline company, which in November announced it would go ahead with a C$1.8 billion expansion of the system in the oil-rich province of Alberta, said the latest expansion will add 230,000 bpd of capacity. Enbridge said the expansion will involve increased pumping horsepower.
Saudi Arabia secures diesel imports for this year amid rising fuel needs
Saudi Aramco has bought diesel under term contracts for 2013 from multiple suppliers including BP, Shell, and Phillips 66, Singapore-based traders say. The country used to be a key exporter of oil products but is increasingly importing more oil products due to strong domestic demand.
- Consortium creates world's first supply chain for the production of renewable plastics 2/6
- Valmet to deliver advanced process analytical solutions to Dow’s Path2Zero ethylene project 2/6
- Tampnet brings mission-critical connectivity to hydrocarbon processing industries 2/6
- Cheniere submits application to build massive LNG plant in Texas 2/6
- OQ and Kuwait Petroleum sign PDA for Duqm petrochemical complex project 2/6
- Phillips 66 to lay off workers as Los Angeles (U.S.) refinery shuts down 2/6
