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Outlook & Insights
Security Firm Exec: Ransoms to Pirates Remain Spiraling Illegal Tax
(Thursday, May 16, 2013) The ransoms that pirates reap remain a serious stumbling block to ending maritime organized crime, the head of a Virginia-based private maritime security company said.
OPINION: How to Manipulate Oil Price Assessments
(Thursday, May 16, 2013) The vulnerability of physical crude price assessments to manipulation is an open secret within the oil industry. The surprise, perhaps, is that it took regulators so long to open a formal probe.
Putin: Russia Should Become Leader in Using Natural Gas-Based Motor Fuel
(Wednesday, May 15, 2013) Russian President Vladimir Putin has called for establishing privileges and preferences for individuals and organizations that switch over to natural gas-based motor fuel.
IEA Sees Jump of 3.6M B/D in Global Refinery Runs from April to August
(Tuesday, May 14, 2013) The oil market is undergoing a positive "supply shock" as production in North America continues to grow at a record pace and refining capacity is expected to outpace demand in high-growth emerging markets, IEA said Tuesday.
Global Shale Oil Impact to Vary By Country
(Tuesday, May 14, 2013) Shale oil production could reduce global oil prices and boost the global economy, but its impact will vary by country, according to a PwC study.
Refining
Tesoro Says FTC Clears Deal for BP Refinery
(Friday, May 17, 2013) The U.S. Federal Trade Commission will allow Tesoro Corp. to go through with its plans to buy a BP Plc. owned refinery in southern California, bringing the two companies one step closer to sealing the deal sometime this quarter.
USW Members Ratify ExxonMobil Baytown Contracts
(Thursday, May 16, 2013) United Steelworkers (USW) local 13-2001 members Wednesday night ratified three separate agreements with ExxonMobil Baytown for the operations, maintenance and laboratory groups.
Venezuela Became Net Gasoline Importer in 2012
(Thursday, May 16, 2013) Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market.
Oman Forced to Import Fuels after Refinery Shutdown
(Thursday, May 16, 2013) Oman, a crude oil exporter, started importing refined fuels earlier this year, the head of Oman Oil Refineries and Petroleum Industries Company (ORPIC) said, after a two-month shutdown of its biggest refinery.
Interfax: Gunvor Paid $158MM for Two Petroplus Refineries
(Thursday, May 16, 2013) Gunvor shelled out $158 million for two oil refineries with capacity of 10 million tonnes a year that were on the verge of bankruptcy from Swiss company Petroplus, according to a Gunvor prospectus that has been made available to Interfax.
Biofuels
Petrochemical
Kunming Residents Protest PetroChina Paraxylene Project
(Thursday, May 16, 2013) Residents of the southwestern Chinese city of Kunming took to the streets Thursday for a protest against the construction of a state-run chemical and petroleum refinery.
Sasol Awards Toyo FEED for La. LLDPE Project
(Thursday, May 16, 2013) Toyo Engineering was awarded a contract from Sasol North America, Inc. to provide FEED services for a 450,000 t/y LLDPE plant in Lake Charles, La.
ENI Unit Versalis Eyes Gas Imports from US
(Wednesday, May 15, 2013) The chemicals business of ENI has outlined a major transformation program that aims to shift the company's portfolio from domination by commodities toward differentiated and green chemicals, internationalize the business, and make it profitable.
Muntajat: A New Gateway to Qatar's Chemicals
(Wednesday, May 15, 2013) Qatar Chemical and Petrochemical Marketing and Distribution Co. (Muntajat; Doha) will, by mid-2013, take over the marketing and distribution of all chemicals and petrochemicals produced in Qatar.
Sipchem Starts Up Ethyl Acetate Plant
(Monday, May 13, 2013) Saudi International Petrochemical Company (Sipchem) announced the start-up of ethyl acetate (EA) & butyl acetate (BA) plant owned by Sipchem Chemicals Company (fully owned by Sipchem) at its complex in Jubail Industrial City on Friday.
Pipelines
Canadian PM Harper Takes Keystone Lobbying Campaign to U.S.
(Friday, May 17, 2013) Canadian Prime Minister Stephen Harper took his case for approval of the Keystone XL pipeline to the U.S., burnishing Canada's environmental credentials and saying the arguments for the project are "overwhelmingly on the side of approval."
Pemex Official: New Pipeline to Triple Gas Imports from U.S.
(Thursday, May 16, 2013) The construction of a natural gas pipeline from southern Texas to central Mexico for state-owned oil company Pemex will allow gas imports from the U.S. to triple, to around 3 billion cubic feet per day by 2015, a Pemex official said Wednesday.
Kurdish Govt to Convert Gas Pipeline for Oil Transport
(Thursday, May 16, 2013) Exports of natural gas from the Kurdish Region of Iraq to Turkey may start from 2015.
Oil-Price Discounts Will Persist Unless Oil-Sands Pipelines Are Built, IAE
(Wednesday, May 15, 2013) Failure to build needed oil sands pipelines--particularly Keystone XL--could result in persistent price discounts and slow expansion of the sector, even as North American production booms, the International Energy Agency warned Tuesday.
W.Va. Governor Celebrates New Gas Pipeline Law
(Wednesday, May 15, 2013) Saturday marked five months since an explosion in a Columbia Transmission Corp. gas pipeline in Sissonville destroyed four homes and melted part of Interstate 77.
Terminals & Storage
Could Philadelphia Become 'Cushing East'?
(Friday, May 17, 2013) A crude-by-rail terminal under development near Philadelphia could become an East Coast oil trading hub.
Saskatchewan Premier Pitches Carbon Capture Tech to U.S.
(Wednesday, May 15, 2013) Saskatchewan Premier Brad Wall says the province has game-changing carbon capture technology and he's trying to sell the idea to the world. Wall spoke Tuesday at an annual carbon capture conference in Pittsburgh.
Egypt's Citadel Signs Deal to Build Fuel Bunkering Terminal
(Tuesday, May 14, 2013) A unit of Egyptian private equity firm Citadel Capital has signed a 25-year concession agreement to build Egypt's first independent tank terminal.
With Pipelines on Hold, Oil Storage Services Boom
(Monday, May 13, 2013) A combination of growing oil sands production and congested pipelines is creating new opportunities for midstream companies.
JTC Calls for Soil Study for Singapore Megafloat Project
(Monday, May 13, 2013) Ground preparations are about to get underway for Singapore's first floating oil storage facility on Pulau Sebarok.
LNG / LPG
Energy Department Approves Freeport Natural-Gas Export Permit
(Friday, May 17, 2013) The Obama administration on Friday cleared the way for broader natural gas exports by approving a $10 billion facility in Texas, a milestone in the U.S. transition into a major supplier of energy for world markets.
Texas Firm to Roll Out Mobile LNG, CNG Conversion Tech
(Thursday, May 16, 2013) AmericaCNG will begin rolling out in September mobile plants that will allow producers to monetize their NGL and convert methane production to LNG or CNG.
Pemex Official: New Pipeline to Triple Gas Imports from U.S.
(Thursday, May 16, 2013) The construction of a natural gas pipeline from southern Texas to central Mexico for state-owned oil company Pemex will allow gas imports from the U.S. to triple, to around 3 billion cubic feet per day by 2015, a Pemex official said Wednesday.
Shell Declares Force Majeure on Gas Supplies to NLNG
(Thursday, May 16, 2013) Shell Petroleum Development Company Limited has declared force majeure on gas supplies to Nigeria LNG, effective 09:00 hrs (Nigerian time) on Wednesday, May 15 2013.
Andhra Pradesh Gas to Sell 24% in LNG Project to Private Power Producers
(Thursday, May 16, 2013) Independent power producers, GMR, GVK and Lanco, have shown interest to buy stake in Andhra Pradesh government promoted re-gasified liquefied natural gas project.
Commodities
Could Philadelphia Become 'Cushing East'?
(Friday, May 17, 2013) A crude-by-rail terminal under development near Philadelphia could become an East Coast oil trading hub.
Oil Futures Follow Broader Markets to One-Week High
(Friday, May 17, 2013) Oil futures rise to a one-week high, as broader markets rally on positive US economic data.
Crude-Oil Futures Settle up 86 Cents at $95.16/Barrel
(Thursday, May 16, 2013) Crude-oil futures prices settle higher, climbing on hopes for rising demand as the peak summer gasoline demand season approaches.
E.U. Oil Price Probe Puts Platts in Spotlight
(Thursday, May 16, 2013) A European investigation into alleged price rigging by major oil companies has drawn attention to leading price agency Platts and the way it sets oil price benchmarks.
Venezuela Became Net Gasoline Importer in 2012
(Thursday, May 16, 2013) Venezuela in 2012 became a net importer of gasoline as a result of escalating problems at its refineries and increasing demand for fuel in its internal market.
Finance & Acquisition
Tesoro Says FTC Clears Deal for BP Refinery
(Friday, May 17, 2013) The U.S. Federal Trade Commission will allow Tesoro Corp. to go through with its plans to buy a BP Plc. owned refinery in southern California, bringing the two companies one step closer to sealing the deal sometime this quarter.
Interfax: Gunvor Paid $158MM for Two Petroplus Refineries
(Thursday, May 16, 2013) Gunvor shelled out $158 million for two oil refineries with capacity of 10 million tonnes a year that were on the verge of bankruptcy from Swiss company Petroplus, according to a Gunvor prospectus that has been made available to Interfax.
Sunoco Logistics Partners Acquire Marcus Hook Refinery
(Monday, May 13, 2013) Pipeline and terminal company Sunoco Logistics Partners L.P. has announced the acquisition of the Marcus Hook Refinery, located on the banks of the Delaware River just south of Philadelphia, for $60 million.
Spectra Energy Plans $2B in Dropdowns, Starting with Express-Platte System
(Friday, May 10, 2013) Spectra Energy Partners LP expects to receive roughly $2 billion in dropdowns from its general partner, Spectra Energy Corp, over approximately two years, Spectra officials said during May 3 earnings calls.
Report: Saras Eyes Shell's Italian Fuel Stations
(Wednesday, May 08, 2013) Italian oil refiner Saras SpA has been interested in the Italian fuel stations of oil major Shell, CEO Dario Scaffardi told Corriere della Sera on Monday.
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