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Current Downstream Headlines
Outlook & Insights
Here Come The Millennials: Good For Energy Demand?
(Friday, May 24, 2013) Millennials, the largest population segment the U.S. has ever seen, could surprise America and the world with their economic might and spending power.
Behind Chinese Protests, Growing Dismay at Pollution
(Monday, May 20, 2013) As news spread earlier this year that China's government had approved a refinery and petrochemicals base near Kunming to process crude piped in from Myanmar, a local environmental activist named Zheng Xiejian started disseminating leaflets.
More Violence Affects Final Stage Construction of Myanmar-China Pipeline
(Friday, May 17, 2013) Two Myanmar nationals working as subcontractors for CNPC were killed this week during shooting at a Myanmar Oil and Gas Enterprise compound near the Chinese border in the troubled Shan State of northern Myanmar.
EDITORIAL: Cyprus Needs a Concrete, Comprehensive LNG Proposal
(Friday, May 17, 2013) On the surface Cyprus President Anastasiades' visit to Israel was a success.
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.
Refining
CRRM Disputes EPA's Characterization of Settlement
(Friday, May 24, 2013) Coffeyville Resources Refining & Marketing, LLC (CRRM) does not agree with the characterization of either the company or the settlement it reached with EPA, which was announced in a recent EPA Region 7 press release.
Trains Leave Oil Pipeline in Lurch
(Friday, May 24, 2013) A $2 billion pipeline project intended to ship oil from West Texas's booming oil fields to California has failed to pique the interest of several big refiners in the Golden State. The culprit: the growing popularity of railroads.
Valero Eyes Refinery Investment
(Thursday, May 23, 2013) Texas-based Valero Energy Corp. will invest as much as C$200 million in its Quebec refinery if Enbridge Inc. proceeds with its plan to reverse its Line 9 pipeline.
CRRM to Settle CAA Violations at Kansas Refinery
(Wednesday, May 22, 2013) Coffeyville Resources Refining & Marketing (CRRM) has agreed to pay a $300,000 civil penalty to settle alleged violations of the Clean Air Act (CAA) at its oil refinery in Coffeyville, Kan., the U.S. Environmental Protection Agency reported.
Total Sanctions Antwerp Modernization Project
(Wednesday, May 22, 2013) Total announced Wednesday that it will proceed with plans at its Antwerp, Belgium facility to add a new refinery upgrading complex and to install a new plant to convert low-value refinery fuel gases into low-cost petrochemical feedstock.
Biofuels
Drevna Applauds RFS Legislation
(Monday, May 20, 2013) AFPM President Charles T. Drevna said that his organization supports the Foreign Fuels Reduction Act legislation recently introduced by Sens. Bob Corker (R-TN) and Joe Manchin (D-WV).
Hungarian Ethanol Firm Says it Tipped E.U. to Platts Pricing
(Friday, May 17, 2013) A Hungarian ethanol producer said it alerted the European Commission over the role of price agency Platts in setting prices, feeding into an investigation of three major oil companies.
Canada's NRC to Provide Funding for CO2-to-Algae Plant
(Monday, May 13, 2013) The federal government, an oil giant and a biofuels company are teaming up to build a $19-million plant in northern Alberta that will use carbon dioxide emissions from the oilsands to help turn algae into products such as fuel and fertilizer.
Petrochemical
Total: SE Texas Steam Cracker Is Processing Ethane from Shale Gas
(Thursday, May 23, 2013) To capitalize on the shale gas revolution in the U.S., the BASF TOTAL Petrochemicals LLC (BTP) joint venture (40% Total, 60% BASF) revamped the Port Arthur steam cracker in Texas to process ethane, found in abundance in U.S. shale gas.
Petronas Exec: Decision on $20 Bln Petrochemical Project Delayed to 1Q 2014
(Wednesday, May 22, 2013) Malaysia's Petroliam Nasional Bhd. has deferred for another three quarters a decision to proceed with what the government describes as one of the country's most important oil-and-gas projects.
Total Sanctions Antwerp Modernization Project
(Wednesday, May 22, 2013) Total announced Wednesday that it will proceed with plans at its Antwerp, Belgium facility to add a new refinery upgrading complex and to install a new plant to convert low-value refinery fuel gases into low-cost petrochemical feedstock.
Shake Up Among Kuwaiti Oil Executives
(Monday, May 20, 2013) Kuwait Petroleum stated that the reshuffle wasn't linked to the crisis over the controversial payment of a $2.2 billion penalty to Dow Chemical for scrapping a joint venture in December 2008.
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.
Pipelines
Quebec to Hold Own Hearings on Enbridge Pipeline Plan
(Friday, May 24, 2013) The Quebec government has announced plans to hold its own hearings on Enbridge Inc.'s proposed pipeline project to bring western oil to Montreal, a move that could raise roadblocks to Alberta's efforts to access new markets.
Trains Leave Oil Pipeline in Lurch
(Friday, May 24, 2013) A $2 billion pipeline project intended to ship oil from West Texas's booming oil fields to California has failed to pique the interest of several big refiners in the Golden State. The culprit: the growing popularity of railroads.
House Passes Bill to Speed Keystone Approval
(Thursday, May 23, 2013) The bill, which won votes from 19 Democrats, eliminates the need for a special permit from Obama and declares a 2011 environmental review of Keystone sufficient.
Pipelines' Struggles Drive Trend to Oil by Rail
(Thursday, May 23, 2013) Canadian and Asian energy companies have begun looking to move oil to the West Coast by rail as new pipeline projects struggle against broad opposition.
Iraq's Trade Bank to Participate in Building $12B Jordan Pipeline
(Wednesday, May 22, 2013) State-run Trade Bank of Iraq will participate in building the country's first oil export pipeline in decades, which will make the country less dependent on Persian Gulf export terminals, its president and chairman said Wednesday.
Terminals & Storage
Pipelines' Struggles Drive Trend to Oil by Rail
(Thursday, May 23, 2013) Canadian and Asian energy companies have begun looking to move oil to the West Coast by rail as new pipeline projects struggle against broad opposition.
Iraq's Trade Bank to Participate in Building $12B Jordan Pipeline
(Wednesday, May 22, 2013) State-run Trade Bank of Iraq will participate in building the country's first oil export pipeline in decades, which will make the country less dependent on Persian Gulf export terminals, its president and chairman said Wednesday.
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.
LNG / LPG
Exxon, InterOil in Talks Over Papua New Guinea Gas Assets
(Friday, May 24, 2013) Exxon Mobil is in exclusive talks with InterOil to invest in the latter's natural gas assets in Papua New Guinea, a move that could cement the impoverished Southeast Asian country's position as a new significant energy exporter.
New U.S. Energy Chief Is Cautious on Gas Exports
(Wednesday, May 22, 2013) The new U.S. energy secretary raised the possibility of delaying further approvals for U.S. companies seeking to export natural gas.
Technip Reports Canada LNG Contract Award
(Wednesday, May 22, 2013) A consortium of Technip, Samsung Engineering and China Huanqiu Contracting & Engineering was awarded by Pacific NorthWest LNG Limited Partnership a contract for the FEED and early detailed engineering services of a grassroots LNG project.
Jordan Cove Files FERC Applications for LNG Export Project
(Wednesday, May 22, 2013) The Jordan Cove Energy Project has filed applications to FERC to construct and operate an LNG export project on the North Spit of the International Port of Coos Bay, Ore.
EQT Honors Vet Taxi Drivers for Memorial Day with Free CNG
(Tuesday, May 21, 2013) When EQT opened its CNG station in downtown Pittsburgh in July 2011, one of the first local companies to become a regular customer was a transportation service that employs military veterans as drivers and uses vehicles that run on natural gas.
Commodities
API's Felmy: Sound Energy Policy Could Help Address High Gasoline Prices
(Thursday, May 23, 2013) The Obama Administration could do more to address gasoline prices by supporting more U.S. oil and natural gas development and by avoiding harmful tax increases and unnecessary regulations, API's chief economist told reporters Thursday morning.
Crude-Oil Futures Settle 3 Cents Lower at $94.25/Barrel
(Thursday, May 23, 2013) Crude-oil futures prices slash early losses and rebound with equities prices to settle just three cents lower at $94.25 a barrel.
Oil Drops as Gasoline Stocks Rise, Fed Weighs Winding Down of Stimulus
(Wednesday, May 22, 2013) Crude futures drop 2% on a government report showing rising fuel supplies and signs that the Federal Reserve may be closer to winding down stimulus efforts.
Oil Drops as Gasoline Stocks Rise, Fed Weighs Winding Down of Stimulus
(Wednesday, May 22, 2013) Crude futures drop 2% on a government report showing rising fuel supplies and signs that the Federal Reserve may be closer to winding down stimulus efforts.
Flood of Russian Diesel Puts Pressure on European Refiners
(Tuesday, May 21, 2013) Russia's slowing economy is leading to a flood of Russian diesel flowing to Europe, which could force a new round of European refinery closures.
Finance & Acquisition
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.
People on the Move
Willbros Taps Collins to Lead Oil & Gas Unit
(Wednesday, May 22, 2013) Willbros Group, Inc. announced Wednesday that Earl Collins has been named President of its Oil and Gas segment.
Westlake Elects Graff, Northcutt to Board
(Monday, May 20, 2013) Westlake Chemical Corp. Monday announced that Michael J. Graff and R. Bruce Northcutt have been elected to the company's board of directors.
Shake Up Among Kuwaiti Oil Executives
(Monday, May 20, 2013) Kuwait Petroleum stated that the reshuffle wasn't linked to the crisis over the controversial payment of a $2.2 billion penalty to Dow Chemical for scrapping a joint venture in December 2008.
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