Refining
IEA sees global crude refining volumes on rise
In its monthly report on the oil sector, the IEA said that the projected daily average for refinery runs was up year-on-year by 950,000 bbl, to 75.3 million bbl. Growth is expected to continue into the first quarter of 2013, when refinery throughput is forecast to be 75.8 million bpd.
ExxonMobil sees North America becoming net oil, gas exporter by 2025
The closely watched annual forecast of energy trends, set to be released Tuesday, concludes the growth of US and Canadian oil and gas production has staying power and could lead to more international shipments of oil and gas, said Exxon's vice president of corporate strategic planning, who led the study.
EIA lowers 2012 forecast for US crude oil prices
Spot prices for West Texas Intermediate, the US benchmark, will average $88.51/bbl in the fourth quarter, according to the December edition of the US Energy Department's Short-Term Energy Outlook. That's down from the $89.50/bbl that was predicted in November's report.
Aramco cyber attack targeted Saudi production
The oil giant says an August cyber attack on its computer network targeted not just the company but the kingdom's economy as a whole, seeking to stop oil and gas production. The interior ministry joined Aramco's investigation into the attack that affected some 30,000 of the firm's computers.
Enbridge to expand light oil pipeline network from North Dakota, Canada
The program is one of several projects the big Calgary, Alberta company and others have unveiled this year to respond to booming North American energy output, particularly in the continental Midwest, where pipeline constraints have led to bottlenecks and lower prices for the region's crude.
BP plans $350mn expansion for Brazil ethanol plant
Processing capacity will double to 5 million tons of sugarcane, thereby producing 450 million litres/year of ethanol equivalent. The mill will be operating at full capacity by the end of 2014 or early 2015.
US energy sector poised for rising M&A activity
Volume and value levels in oil and gas are close to 2011 levels with an increase in mega deals led by private-equity funds that have increased their investment and exposure to the energy industry. PwC said it expects deal activity to rise in 2013, with ongoing consolidation in shale plays very likely.
Plains to buy five crude oil rail terminals in US
The deal includes three crude-oil rail loading terminals in the Eagle Ford, Bakken and Niobrara producing regions, a rail unloading terminal at St. James, La., and a project to construct a crude oil unloading terminal near Bakersfield, Calif. Plains expects to complete the purchase before the year end.
Kuwait picks Foster Wheeler, Amec for refinery, clean fuel projects
The two projects will be implemented simultaneously and are expected to boost the refining capacity of KNPC's parent company, Kuwait Petroleum Corp., to 1.4 million bpd of crude oil and will cost $25 billion.
US monthly oil production climbs to 14-year high
Such statistics reflect the US's growing role as a dominant energy producer. Earlier this year, the International Energy Agency said the US could overtake Saudi Arabia as the world's largest oil producer by 2020 - a trend that would transform global energy markets as well as international politics.
- Vyterra Renewables receives funding to advance its Nova Scotia low-carbon fuel oil project 3/26
- BASF inaugurates €8.7-B Verbund site in Zhanjiang, China 3/26
- Partners sought from construction and engineering for program to decarbonize £1 T/yr global market for low-carbon jet fuel 3/26
- OCI Global completes handover of Beaumont New Ammonia to Woodside 3/26
- Iran war chokes petrochemical supply, sends plastic prices soaring 3/26
- Russia's vast Kirishi oil refinery halts operations after drone attacks 3/26
