Refining
TransCanada expects Keystone XL approval after Obama re-election
Supporters of the project say it will create jobs, lower gasoline prices and spur US energy independence by greatly increasing the amount of available crude supply. However, the project has drawn the ire of the Sierra Club and other environmental groups, which are worried about safety.
Shell to set up global technology hub in Bangalore
The company said the Bangalore site will become operational by around the middle of the decade and will have up to 1,500 technology specialists. It will provide technology services to exploration, production, refinery, chemical and other businesses, according to a company statement.
US energy groups target Keystone approval, shale as Obama wins second term
Obama won the US election with 332 electoral votes, far exceeding the 270 required to win. Republican challenger Mitt Romney finished with 206. “Right off the bat, the president can approve the Keystone Pipeline and put thousands of Americans to work immediately," said the API's chief executive.
Vietnam strikes deal to build second oil refinery
Plans to build Vietnam's second oil refinery, which comes with a price tag of between $8 billion and $10 billion, has been hampered for years due to financing issues between the Vietnamese government and the two main partners, Japan's Idemitsu Kosan and Kuwait Petroleum.
India's Gulf Oil to buy specialty chemicals company Houghton International
The acquisition will allow Gulf Oil, part of the diversified Hinduja Group, to expand its lubricants and chemicals business. Indian companies have been increasingly looking overseas for acquisitions because red tape, corruption and land acquisition issues often hurt plans to expand at home.
Marathon Petroleum restarts Detroit refinery after major expansion project
The $2.2 billion, four-year Detroit Heavy Oil Upgrade Project increased the refinery's heavy-oil processing capacity to 100,000 bpd, five times the amount it could process before the project. Heavy oil is usually sold at discounts to light varieties, which are easier to process.
Fire erupts at PdVSA Cardon refinery in Venezuela
Workers at the site shut down the unit shortly after a small explosion caused a fire at the plant, Ivan Freites, secretary general of the local oil workers union, said. He added that some workers were being evacuated as a precautionary measure but did not offer more details.
Kuwait to tender new refinery, clean fuel projects by early next year
The new refinery will be located in Kuwait's Al Zour region while the clean fuel project will involve a major upgrade of existing refineries in Mina Abdullah and Mina Al Ahmadi. KPC awarded two firms consultancy contracts for the projects and the other tenders for construction will soon be issued.
Fuel outages begin to ease in US Northeast
Eric DeGesero, executive vice president of the Fuel Merchants Association of New Jersey, said a key bottleneck remains the closure of some major fuel terminals - a problem that means that the remaining terminals that are open face greater demand than normal.
JX Nippon to permanently end crude processing at Japan's Muroran refinery
JX said it will keep oil tanks in the site and transport refined products from elsewhere to Muroran to ensure adequate supply. JX will also maintain some secondary units to produce petrochemical products - mainly toluene and xylene - to be used as feedstock for a paraxylene joint venture in South Korea.
- 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
