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Tesoro to Divest Hawaii Refinery
(Tuesday, June 18, 2013) The buyer, Par Petroleum, plans to operate the assets as an integrated refining, logistics and retail system.
Dakota Plains Hits Funding Milestone for Pioneer Terminal Expansion
(Tuesday, June 18, 2013) An affiliate of World Fuel Services, the parent company of Dakota Plains' joint venture partner in New Town, North Dakota, is providing a term loan with up to $20 million in available funds toward the Pioneer Terminal expansion project.
Aramco, Dow Petrochemical JV Secures $10.5 Bln Bank Facilities
(Monday, June 17, 2013) The $19.3 billion petrochemical joint venture between Saudi Aramco and Dow Chemical has signed loan facilities worth $10.5 billion for its Jubail chemical plant.
Spectra Urged by Activist Investor to Review Options for Canadian Unit, DCP
(Monday, June 17, 2013) Spectra Energy Corp.'s plans to drop down its remaining U.S. transmission and storage assets to Spectra Energy Partners don't go far enough, according to activist investor Sandell Asset Management.
Centrica Confirms Bowland Shale Deal
(Thursday, June 13, 2013) Centrica buys 25-percent stake in Cuadrilla Resources’ Bowland shale gas license in Lancashire, northern England.
Spectra to Drop Down US Transmission and Storage Assets
(Wednesday, June 12, 2013) Spectra Energy Corp Wednesday announced its intention to drop down all of its remaining U.S. Transmission and Storage assets to Spectra Energy Partners (NYSE: SEP) by the end of the year, subject to market conditions.
BG Group Wraps Up Sale of Gujarat Gas Stake
(Wednesday, June 12, 2013) BG Group Wednesday announced it has completed the sale of the Group's 65.12% holding in India's largest private natural gas distributor Gujarat Gas Company Limited (GGCL) for INR 24.6 billion or approximately $422 million at current exchange rates.
Sinopec's Trading and Logistics Arm Aims to Own Assets in Global Push
(Tuesday, June 11, 2013) Sinopec Kantons, a crude oil trading and logistics arm of China Petroleum & Chemical (Sinopec), says it will selectively acquire and build its own fuel storage facilities internationally.
Phillips 66 Puts Ireland Refinery Up for Sale
(Monday, June 10, 2013) Phillips 66 has appointed Deutsche Bank to handle the sale of the strategic assets at Whitegate and Bantry, in West Cork, with a target to complete the sale by the end of the year.
Proposed West-East Pipeline Directs Investment Spotlight to Atlantic Canada
(Friday, June 07, 2013) A think-tank says Newfoundland and Labrador leads the pack in major project investment in Atlantic Canada as the estimated value of energy and mining developments continues to rise.
Lack of Bank Guarantees Stalls Egypt Oil Deals - Sources
(Wednesday, June 05, 2013) Cash-strapped Egypt is struggling to complete oil supply deals agreed with Iraq and Libya, seen as vital for easing its fuel shortages, because it has been unable to provide acceptable bank guarantees, officials familiar with the matter said.
Tesoro Acquires BP's SoCal Refining & Marketing Business
(Tuesday, June 04, 2013) Tesoro has closed the acquisition of BP's fully integrated Southern California Refining and Marketing business, including the 266 thousand barrel per day ("mbpd") high conversion Carson refinery and over 800 dealer operated retail stations.
Chinese Investment in Myanmar Falls Sharply
(Tuesday, June 04, 2013) The drop comes as China is wrapping up construction of its last ongoing large-scale investment project in Myanmar: the construction of two pipelines that will transport oil and natural gas from the Bay of Bengal through Myanmar into southern China.
Sinopec Engineering Vows to Maintain High Margins
(Friday, May 24, 2013) Despite rising cost pressures, Sinopec Engineering, the oil refining and chemical plants engineering subsidiary of China Petrochemical Corp, will strive to maintain a gross profit margin higher than the industry average, its chief said yesterday.
Cheniere Engages Lead Arrangers for Sabine Pass Project Debt Financing
(Wednesday, May 22, 2013) Cheniere Partners subsidiary Sabine Pass Liquefaction, LLC has engaged 17 financial institutions to act as Joint Lead Arrangers to assist in the structuring and arranging of credit facilities for four Sabine Pass LNG liquefaction trains.
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.
Sumitomo Chemical in the Red on Sharp Fall in Demand
(Friday, May 17, 2013) A sharp drop in Asian demand and in other overseas markets has resulted in a 51 billion yen loss (S$620 million) in FY2012 by Sumitomo Chemical - the largest Japanese investor on Jurong Island.
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.