Refining
Chevron crude unit at fire-hit California refinery may be out six months
Investigators reportedly found serious damage in the cooling towers, pipe racks and heater tower. Some of the refinery’s secondary units are continuing to operate using feedstock stored at the site, but no decision has been made on whether Chevron will buy additional feed or shut the units during repairs.
Global refinery runs poised to rise amid growth in developing countries
The IEA forecast shows that despite concerns about growth in emerging economies, such as China, demand from there is still growing and refining margins still have room to improve. China's crude intake is likely to increase in the coming months, just at a slower pace than previously expected.
India oil product demand to slow in months ahead
The EIA's monthly forecast is broadly in line with domestic projections. Summer energy demand recently peaked, and it will likely fall off over the next few months, barring unforeseen contingencies. The government has announced plans for $1 trillion in infrastructure investments over the next five years.
US lowers yearly ethanol production outlook by 3%
The EIA said it reduced ethanol production estimates from 900,000 bpd to 870,000 bpd, a reduction of 3.3%. The US agency says it expects ethanol production to recover in the second half of 2013.
HollyFrontier expects Tulsa refinery repairs to take six-to-eight weeks
Crude oil throughput at the 125,000 bpd refinery will be reduced by 30,000 to 40,000 bpd throughout the repair time, a company executive said Wednesday. The diesel hydrotreater unit, a unit that removes contaminants from the diesel stream, was shut on Aug. 2 after an early morning fire.
Safety board probes Chevron California refinery fire
The explosion and fire involved the release of vapor that found an ignition source, CSB said, citing Chevron officials. Four workers sustained minor injuries and thousands of residents were ordered to shelter in place.
Chevron partly running Richmond refinery after fire
Chevron said it was running most processing units. But how long and at what rate the company could keep making fuel at the 245,000 bpd plant was an open question, because Monday's fire damaged the plant's only crude distillation unit, a critical component of the fuel-making process.
Fire erupts at Chevron refinery near San Francisco, forces unit closures
In a Tuesday statement, Chevron said the main fire - which began at 6:15 p.m. local time on Monday - had been extinguished. All employees and contractors are safely accounted for, though three employees sustained minor injuries and were treated on site. Chevron has yet to speculate on the cause.
EIA raises 2012 price forecasts for crude oil, fuels
The Energy Information Administration projected the price of West Texas Intermediate crude, the US benchmark, will average $93.90/bbl in 2012, up from $92.83/bbl predicted in July. Retail gasoline prices were forecast to average $3.53/gal this year, up from $3.49/gal in the July estimate.
EU approves Gunvor purchase of former Petroplus refinery in Germany
The 100,000 bpd Ingolstadt refinery is one of the best-performing European refineries, according to Gunvor, with a strong regional footprint in Germany’s Bavaria region. Gunvor is familiar with and trades the crude oils processed by the Ingolstadt refinery, it said, enabling greater efficiencies for the plant.
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