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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.
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.
PBF: Still Exploring Master Limited Partnership Options
(Friday, May 03, 2013) PBF Energy will likely be ready to talk more concretely about a possible master limited partnership later this year, Chairman Tom O'Malley said Thursday.
CP Railway Wary of Betting on Oil
(Thursday, May 02, 2013) Canadian Pacific Railway Ltd. isn't sure how long the growth in transporting crude oil by rail will last, so it will stay cautious on its capital spending.
Phillips 66 Profit Surges; Aims to Use All Cheap, Domestic Crude
(Wednesday, May 01, 2013) Phillips 66 executives said Wednesday that the company's refineries are inching toward the goal of processing only discounted crudes extracted in North America, a target they expect the company to hit within the next few years.
Booming North American Oil Supply Boosts U.S. Refiners' Profits
(Tuesday, April 30, 2013) A growing influx of cheap, North American-produced oil once again lifted the profits of refiners Valero Energy Corp. and Marathon Petroleum Corp., as the companies said they expected even more domestic crude to reach their gates in the near term.
Tesoro Still Pursuing Buyers for Hawaii Refinery
(Monday, April 29, 2013) Tesoro Corp. is continuing to negotiate with potential buyers for its Kapolei refinery as it moves forward with previously announced plans to close the facility, company officials said April 25.
ExxonMobil Plans to Consolidate India Lubes Unit
(Thursday, April 25, 2013) The Indian subsidiary of ExxonMobil is all set to consolidate its industrial lubes business in India by offering wider range of its global products as the player sees its synthetic oils gaining momentum.
Foreign Investors Plan $100B Investment in Nigeria
(Wednesday, April 24, 2013) Foreign Investors Tuesday promised to bring massive investment worth over $100 billion to Nigeria.
Reported ONGC-Shell Deal Would Add Fuel to India's Oil Sector Investments
(Monday, April 22, 2013) India's oil and gas sector is all set for a billion dollar partnership with India's biggest energy company Oil and Natural Gas Corp (ONGC) and global major Royal Dutch Shell reportedly getting ready to announce a major deal.
Slump in VC Funding in Solar Sector Continues
(Monday, April 22, 2013) The slump in global venture capital (VC) investments, which started in Q3 2012, continued, dipping to $126 million in 26 deals in Q1 2013 compared to $220 million in 27 deals in the previous quarter, according to a clean energy consulting firm.
French Court Rejects Bids for Petroplus Refinery
(Wednesday, April 17, 2013) A French court Tuesday rejected the two bids filed by companies offering to take over an oil refinery from bankrupt refiner Petroplus AG and ordered the liquidation of the assets ending a 15-month procedure.
Atlas to Acquire Eagle Ford Midstream Business from Teak
(Wednesday, April 17, 2013) Atlas Pipeline will acquire 100% of the equity interests of TEAK Midstream, L.L.C. for $1 billion in cash.
Suncor Seeks Cushion With $1 Billion Asset Sale
(Tuesday, April 16, 2013) Suncor Energy Inc. has raked in $1-billion by selling natural gas assets on the fringe of its business, giving the oil sands giant a cushion as it weighs which of its potential growth projects deserve financial attention.