Refining
Motiva completes Port Arthur refinery expansion, becomes largest in US
The new 325,000 bpd crude unit that started processing is combining with existing units to raise capacity to 600,000 bpd, making the Texas refinery the largest in the US.
Pöyry wins engineering on UPM Finland biorefinery
The Pöyry Industry business group has been awarded a contract for detail engineering in the UPM biorefinery project in Lappeenranta, Finland. The Lappeenranta biorefinery is UPM's first step in a strategy toward becoming a key player in advanced biofuels production, officials said.
PdVSA to expand El Palito refinery via Japan loans
The Venezuelan government has secured $1 billion in loans from a consortium of Japanese companies, led by the Japan Bank for International Cooperation, most of which will go toward expanding the South American country's El Palito refinery. Venezuela has aimed to increase shipments to Asian markets.
Hess to spend $45 million on pollution controls at New Jersey refinery
Hess will pay an $850,000 civil penalty and install new pollution controls in a settlement to resolve US Clean Air Act violations at its 70,000 bpd refinery in Port Reading, N.J.
Halliburton files protest against BP spill settlement
Halliburton is objecting to BP’s proposed $7.8 billion settlement with individual plaintiffs for its involvement in the Deepwater Horizon oil rig disaster. The Houston-based company also contends BP's settlement would make Halliburton responsible for paying at least part of the settlement.
Conoco refining spinoff Phillips 66 to join S&P 500
Phillips 66, the refining company splitting from ConocoPhillips, will replace Supervalu in Standard & Poor's 500-stock index at the end of the month. The index includes 500 leading large-cap US companies. Once complete, Phillips 66 plans to expand its chemical and midstream operations.
Sunoco, Carlyle mull refinery venture to keep Philadelphia site operational
If a deal is struck, Carlyle would hold the majority stake and oversee day-to-day operations at the 330,000 bpd refinery. Many had expected the site to be shut down this July.
US oil demand falls in March, gasoline use up - API
Total petroleum deliveries (a measure of demand) slipped 1.3% in March compared with March 2011, but gasoline deliveries were up 3%, according to monthly data from the API. US gasoline production of 9.3 million bpd set a record for any March and for any comparable year-to-date period.
EPA settles US biofuel violations with 30 companies
Thirty companies have agreed to pay what the EPA described as "modest" civil penalties for using fraudulent credits to meet a federal biofuel mandate. The settlement resolves violations of the Renewable Fuels Standard for companies such as ExxonMobil and ConocoPhillips.
Iran accuses Saudi Arabia of breaking OPEC ceiling
Iran accused Saudi Arabia of breaching a collective OPEC agreement, reviving fears that the group could fracture again when it meets in June. Any new split within the group - which is set debate output again mid-June - could impede its ability to both coordinate production and to keep a lid on price volatility.
- 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
