Refining
Obama defends energy policy, blames Middle East turmoil for rising US gasoline
President Barack Obama defended his energy policy from Republican attacks that he has not done enough to counter the recent run-up in gasoline prices. Obama said that more drilling will not bring down the price at the pump. In fact, the US is producing more oil than at any time in the last eight years, he said.
Tesoro refinery workers reject USW labor contract, strike possible
Union workers at three more Tesoro refineries have rejected new labor contracts, setting up the potential for a strike. A general strike at Tesoro's refineries still negotiating could shut down 500,000 bpd of refining capacity, though it wouldn't spread to refineries run by other companies.
Chesapeake plans to double US production of oil, liquids by 2015
Chesapeake Energy said it plans to more than double its oil and liquids production by 2015 as the natural gas giant aims to become one of top five US oil producers. The company plans to produce about 250,000 bpd of oil and natural gas liquids by 2015, up from about 104,000 bpd in the fourth quarter.
Hess, PdVSA finish shutdown of Hovensa refinery venture in Virgin Islands
Hovensa completed the previously-announced shutdown of its 350,000 bpd refinery on the US Virgin Island of St. Croix, the company said. The oil-fuel refinery is a joint venture between oil company Hess and Petroleos de Venezuela (PdVSA), the state-owned oil company of Venezuela.
API says more US oil needed to cut gasoline costs
John Felmy, chief economist with the American Petroleum Institute (API) trade group, says the US must develop more of its own oil and natural gas and allow additional oil imports from Canada. "By far, the single biggest factor in today’s higher gasoline prices is the rising cost of crude oil," Felmy said.
SemGroup, Chesapeake, Gavilon form JV to build Oklahoma crude pipeline
A venture between SemGroup, Gavilon Midstream Energy and a Chesapeake Energy affiliate plans to build a 210-mile pipeline in western and north central Oklahoma to deliver crude oil to a storage facility in Cushing, Okla. Construction should begin in July and service is expected in the 2013 third quarter.
IEA says Europe can handle loss of Iranian oil
The EU could handle a sudden end to imports of Iranian oil because of changes already being made due to the coming ban on Iranian shipments, an IEA official said. But the official also warned that the standoff has the potential to hurt the global economy by pushing oil prices higher.
Greek refiner Motor Oil Hellas no longer buying Iranian crude
Greek refiner Motor Oil Hellas is no longer buying Iranian crude, and has not done so for some time, a person at the company told Dow Jones Newswires Monday. Motor Oil Hellas is one of two major refiners in Greece and is able to process more than 180,000 bpd of oil.
US, Mexico agree to collaborate on Gulf oil projects
The United States and Mexico agreed Monday to work together on oil and gas development in the Gulf of Mexico, paving the way to end a long-running moratorium on their maritime border. "For the first time, American energy companies will be able to collaborate with Pemex," Clinton said.
Honeywell opens new technology hub in India
The company says the center will expand its development in downstream sectors such as refining, petrochemicals and nylon technologies and applications.
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- Asia refinery 2025–2026 maintenance/outages 12/26
- Serbia's NIS gets U.S. approval to negotiate sale of Russian stake 12/26
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