Refining
Valero idles two US ethanol plants on low margins
Valero suspended production last week at its Albion, Neb., ethanol plant, while its Linden, Ind., facility shut down production on Tuesday. Each plant has the capacity to produce 120 million gal/year of ethanol.
Wison, Hyundai nab EPC contract for Puerto la Cruz refinery in Venezuela
Consortium Hyundai-Wison will carry out engineering, procurement, construction and start-up assistance of the environmental units, auxiliary units and revamp of atmospheric distillation units of the deep conversion project. Facilities will be able to process heavy crude oil, with a capacity of 210,000 bpd.
Brazil ethanol industry needs years to recover lost production, says IEA
Brazil's ethanol industry will take several years to recover from recent production setbacks due to aging agricultural infrastructure and economic uncertainties, an official at the International Energy Agency said. Brazil's growers are struggling to bounce back from a bad crop in 2011-12
Shell, Vopak, Greenergy to buy Coryton UK refinery for use as terminal
Royal Dutch Shell, Royal Vopak and Greenergy have agreed to buy the majority of the assets of Petroplus’ Coryton refinery in England to turn it into an import and distribution terminal. The sale will be completed within several months, once the current refinery closure process has been concluded.
US oil, gas producers redeploy Gulf of Mexico staff as Debby weakens
Oil and gas producers in the US Gulf of Mexico moved to restaff their offshore operations and restart disrupted output Monday, as a weakening Tropical Storm Debby turned toward the western Florida coast. The National Hurricane Center said the storm had maximum sustained winds of 45 miles an hour.
Gazprom makes bid for BP stake in Russia TNK-BP
An arm of Russian state-controlled Gazprom has lodged a bid for BP's $25 billion stake in its venture in the country, The Sunday Times reports. The move will increase pressure on AAR, the group controlled by BP's Russian billionaire partners that owns the other half of TNK-BP, said the newspaper.
Delta closes on Pennsylvania refinery purchase
Delta Air Lines’ wholly-owned subsidiary, Monroe Energy, has completed its previously-announced deal to acquire the 185,000 bpd Trainer refinery complex from Phillips 66.
Global liquid fuels demand seen rising 0.9%/yr - EIA
Global liquid-fuels demand is expected to rise by 0.9% between 2010 and 2035, to 109.5 million bpd, with the world becoming more reliant on OPEC oil, according to a new US government forecast released on Monday. OPEC's share of world demand will rise to 41.9% in 2035 from 39.7% in 2010.
US fuel demand shows recent improvements - API
Total US petroleum deliveries rose 0.5% in May over the same month last year to 18.5 million bpd, according to monthly data from the American Petroleum Institute (API) trade group. May distillate demand was up 2.0%, though down 1.5% for the first five months. Jet fuel demand rose in May.
Sunoco Logistics unveils new pipeline project for West Texas crude
The initial phase would move 150,000 bpd of Permian oil into the Beaumont, Texas area, by reversing an existing pipeline and using excess capacity available in another line. It could start operating within 6 to 9 months at an initial rate of 90,000 bpd, ramping up to full capacity by mid-to-late 2013.
- Australia’s biggest LNG plants suffer outages due to cyclone, straining global supply 3/27
- Iran war chokes petrochemical supply, sends plastic prices soaring 3/27
- Stockholm Exergi taps Inprocess to deliver advanced process simulator for BECCS project 3/27
- Japan to relax rules from April to boost coal-fired power amid LNG import risks 3/27
- Velan releases upgrades to its delayed coker isolation valves 3/27
- AFPM: ‘Baffling’ final RFS will break cost records. In fact, it already is 3/27
