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Current Downstream Headlines
Outlook & Insights
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.
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.
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
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
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.
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.
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."
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.
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.
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
US Approval of LNG Exports Paves Way for Asian Spot Market
(Monday, May 20, 2013) Japanese LNG buyers see U.S. government approval for a Texas LNG facility to export gas to countries with which it doesn't have free-trade agreements as a step forward.
Halliburton Rolls Out CNG-Powered Truck Fleet
(Monday, May 20, 2013) Halliburton announced Monday the deployment of nearly 100 light-duty CNG trucks across several field locations in the United States.
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.
Petroleum Tanker Operator Enters US LNG Export Business
(Friday, May 17, 2013) Crowley Maritime Corp.'s petroleum services group is moving into the LNG market with the acquisition of Carib Energy LLC.
Estonian PM: Deadlock on LNG Terminal Site Endangers Gas Supply
(Friday, May 17, 2013) Estonia is beginning to worry that it might wind up without a supply of natural gas, either the pipeline version or LNG, if a deadlock over selection of the site for a planned LNG gasification plant continues.
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.
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.
Supplier: Europe Will Continue to Be Net Importer of Jet Fuel
(Friday, May 17, 2013) Pressure on European production from "super" refineries in the Middle East and Asia will see more jet kerosene shipped to Europe instead of being produced locally, a supplier said May 9.
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.
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.
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.
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