U.S. FERC Approves Construction of Freeport LNG Export Project
U.S. FERC Approves Construction of Freeport LNG Export Project

Thursday, July 31, 2014 Freeport is the third U.S. LNG export project to get the green light to begin construction from the Federal Energy Regulatory Commission.
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  Current Downstream Headlines

Outlook & Insights
In Rare Move, Canada Accuses Chinese of Trying to Hack Govt Network
(Tuesday, July 29, 2014) The unusual step raises tensions at a time when Ottawa wants to boost oil sales to China.

COLUMN-Pass the Dictionary; US Gets in Muddle Over Oil Exports
(Tuesday, July 29, 2014) Coming up with a workable definition of "distillation" has become urgent as U.S. companies seek permission to export condensate.

COLUMN-China Oil Demand Strength Masks Diesel Weakness
(Tuesday, July 29, 2014) China's refineries produced the most fuel on record in June and oil consumption reached the highest in 17 months, but there are still doubts as to the true strength of demand.

Kemp: Forecasts for Higher Oil Prices Misjudge the Shale Boom
(Monday, July 28, 2014) "The world of energy may have changed forever," according to Professor James Hamilton of the University of California. "Hundred dollar oil is here to stay."

Environmental Battle Over Energy Sources In New England
(Friday, July 25, 2014) Kinder Morgan's Northeast Expansion Project would haul high-pressure natural gas extracted from the Marcellus and Utica formations to New England.

Refining
LyondellBasell Emerges As Mystery U.S. Buyer of Kurdish Oil; Says No More
(Thursday, July 31, 2014) Chemicals firm LyondellBasell, owned by Ukraine-born billionaire Leonard Blavatnik, has emerged as the mystery American buyer of Kurdish crude oil this year, but said on Thursday it will not be buying any more due to an ownership dispute.

U.S. Investor Klesch Takes Long View in Wales Refinery Deal
(Thursday, July 31, 2014) U.S. entrepreneur Gary Klesch is buying the Milford Haven oil refinery on the coast of Wales, safeguarding around 450 jobs and betting an ailing European refining industry can only move up.

U.S. EPA Extends 2013 Biofuel Compliance Deadline for Third Time
(Thursday, July 31, 2014) The U.S. Environmental Protection Agency on Thursday extended for a third time the deadline for refiners to show compliance with 2013 federal biofuel use targets, a move quickly criticized by the oil industry.

U.S. Commerce Dept Seeks Details, Not Delay, on Oil Export Requests-Sources
(Wednesday, July 30, 2014) Legislators, lawyers and oil firms have been seeking loopholes, exceptions or gray areas in a four-decade ban on crude oil exports.

U.S. Accuses Venezuela of Using Oil to Pressure Aruba on Extradition
(Wednesday, July 30, 2014) The United States accused Venezuela on Tuesday of using economic pressure, including a reported threat to close an oil refinery, to apply pressure on the Netherlands not to extradite an official whom Washington wants on drugs charges.

Biofuels
U.S. EPA Extends 2013 Biofuel Compliance Deadline for Third Time
(Thursday, July 31, 2014) The U.S. Environmental Protection Agency on Thursday extended for a third time the deadline for refiners to show compliance with 2013 federal biofuel use targets, a move quickly criticized by the oil industry.

M&G Reveals Plan for China Cellulosic Bio-refinery
(Monday, July 28, 2014) A joint venture between M&G Chemicals and Anhui Guozhen plans to build a bio-refinery in China's Anhui province that will produce cellulosic ethanol, glycols and by-products such as lignin.

US Sets Anti-dumping Duties on Solar Imports From China, Taiwan
(Friday, July 25, 2014) The United States set new import duties on solar products from China and Taiwan.

Report: Texas, Gas States Biggest Winners Under EPA Carbon Rules
(Thursday, July 24, 2014) Gas-rich states should have the easiest time complying with planned EPA regulations on carbon pollution from power plants, despite opposition from their lawmakers, a new study says.

Europe's Wind Capacity to Grow More Slowly Than Expected to 2020
(Wednesday, July 23, 2014) Europe's installed wind capacity will increase at a slower rate to the end of the decade than previously estimated due to regulatory uncertainty and weak economic growth.

Petrochemical
S Korea's LG Chem to Use More LPG After Yeosu Cracker Maintenance
(Wednesday, July 30, 2014) South Korea's LG Chem will raise the amount of liquefied petroleum gas (LPG) used to produce petrochemicals by half to 66,000 tonnes a month after its Yeosu cracker maintenance in October, a company spokesman said on Wednesday.

M&G: Italian Court Rules Against Invista PET Patent
(Monday, July 28, 2014) M&G Chemicals announced July 23 that the Court of Milan has confirmed its ruling against Invista Technologies S.à.r.l. declaring in a first instance the nullity of the Italian counterpart of Invista's patent relevant to barrier resin products.

Mitsubishi Chem Restarts Naphtha Cracker After Repair
(Monday, July 28, 2014) Japan's Mitsubishi Chemical Corp said on Monday it restarted the 539,000-tonnes-per-year (tpy) No.2 naphtha cracker at its Kashima complex in eastern Japan on Saturday, a day earlier than planned following unscheduled repair work.

Goldman in Preliminary Deal to Buy 30 Pct of Turkey's Petlim Port
(Monday, July 21, 2014) Goldman Sachs signs a preliminary agreement with Socar's Turkey unit to buy a 30 percent stake in the country's largest integrated port for $250 million.

Founder of Brazilian Conglomerate Odebrecht Dies, Paper Says
(Monday, July 21, 2014) Norberto Odebrecht, the Brazilian engineer who built a global construction group with interests in petrochemicals, defense and shipbuilding, dies at the age of 93.

Pipelines
Transcanada Says Apache Plan to Sell Kitimat Interest Was No Surprise
(Thursday, July 31, 2014) Transcanada Corp said on Thursday in a second quarter earnings call it was always aware Apache Corp was looking to sell at least a piece of its interest in the Kitimat, BC, LNG project.

Iraqi Kurdish Pipeline Stopped; Tanker in Limbo Off Texas
(Wednesday, July 30, 2014) Iraqi Kurdistan's attempts to export oil independently of Baghdad hit another obstacle on Wednesday, as a Turkish energy official and industry sources said the autonomous region's pipeline to the Mediterranean has been shut for the past week.

PG&E Charged with Obstruction in San Bruno Natgas Blast Probe
(Wednesday, July 30, 2014) A federal grand jury for the Northern District of California charged PG&E Corp on Tuesday alleging it obstructed the investigation of the National Transportation Safety Board (NTSB) into the deadly San Bruno natural gas explosion in 2010.

Pony Express Oil Pipe Line-fill Starts; Shipments Seen in Oct.
(Wednesday, July 30, 2014) Line fill on the Pony Express Pipeline carrying crude from Wyoming to Oklahoma began last week although commercial shipments are expected to be delayed until the fourth quarter, market sources said on Tuesday.

ONEOK to Add Gas Plant, Related Infrastructure in North Dakota
(Wednesday, July 30, 2014) Since 2010, ONEOK Partners has constructed or is constructing seven new natural gas processing plants and related natural gas gathering infrastructure in the Williston Basin

Terminals & Storage
Enterprise Looks to Expand Houston Ethane Export Terminal
(Thursday, July 31, 2014) Enterprise Products Partners LP said it was looking at expanding the ethane export facility it is building on the Houston Ship Channel after winning another transport contract.

Hess To Form MLP For North Dakota Oil, Gas Transport Assets
(Wednesday, July 30, 2014) Hess says it would form an MLP for its North Dakota oil and natural gas storage facilities and processing plants, taking advantage of a key financial trend in the energy sector to generate cash.

Iraqi Kurdish Pipeline Stopped; Tanker in Limbo Off Texas
(Wednesday, July 30, 2014) Iraqi Kurdistan's attempts to export oil independently of Baghdad hit another obstacle on Wednesday, as a Turkish energy official and industry sources said the autonomous region's pipeline to the Mediterranean has been shut for the past week.

U.S. Says Tanker with Iraqi Kurdish Oil Outside U.S. Waters
(Tuesday, July 29, 2014) The U.S. State Department said on Tuesday a tanker carrying Iraqi Kurdish oil was anchored outside U.S. waters off the coast of Texas and a court order to seize the cargo would only be enforced when the ship entered U.S. territory.

Huge Blaze Out of Control in Tripoli Battle As Libya Slides into Chaos
(Monday, July 28, 2014) A huge fuel depot in Libya's capital burned out of control on Monday, set ablaze in fighting between rival militias that has driven the country to chaos three years after the NATO-backed revolt that toppled Muammar Gaddafi.

LNG / LPG
U.S. FERC Approves Construction of Freeport LNG Export Project
(Thursday, July 31, 2014) Freeport is the third U.S. LNG export project to get the green light to begin construction from the Federal Energy Regulatory Commission.

US DOE Approves Oregon Project to Export LNG
(Thursday, July 31, 2014) The U.S. Energy Department on Thursday approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to export fuel from the domestic drilling boom to markets in Asia and Europe.

Apache to Quit Gas Projects in Australia, Canada; Shrs Jump
(Thursday, July 31, 2014) U.S. oil and gas company Apache Corp, under pressure from activist investor Jana Partners, said on Thursday it plans to sell interests in two liquefied natural gas projects.

S Korea's LG Chem to Use More LPG After Yeosu Cracker Maintenance
(Wednesday, July 30, 2014) South Korea's LG Chem will raise the amount of liquefied petroleum gas (LPG) used to produce petrochemicals by half to 66,000 tonnes a month after its Yeosu cracker maintenance in October, a company spokesman said on Wednesday.

Golden Pass FEED Contract Goes to CB&I-Chiyoda
(Wednesday, July 30, 2014) CB&I, along with Chiyoda Corp., has been awarded a FEED services contract for a proposed LNG export project by Golden Pass Products, LLC (GPP). GPP is a joint venture between affiliates of Qatar Petroleum International and ExxonMobil.

Commodities
US Oil Dives Below $100 On Kansas Refinery Outage, Equity Drop
(Thursday, July 31, 2014) US crude oil tumbles more than $2, hitting the lowest level since March on news of a potentially lengthy shutdown at a Kansas oil refinery.

U.S. Commerce Dept Seeks Details, Not Delay, on Oil Export Requests-Sources
(Wednesday, July 30, 2014) Legislators, lawyers and oil firms have been seeking loopholes, exceptions or gray areas in a four-decade ban on crude oil exports.

Oil Prices Tumble On Ample Supply, Weak Demand
(Wednesday, July 30, 2014) Oil prices tumble, with Brent leading the decline weakened by excess supplies in Europe and Asia.

Condensate Oil Export Decisions 'Not Coordinated' with W.House-Aide
(Tuesday, July 29, 2014) Some industry players saw an opening last month when Pioneer and Enterprise said they had received private rulings to export condensate, a light petroleum.

U.S. to Seize $100 Mln of Iraqi Kurdish Oil in Tanker Off Texas
(Tuesday, July 29, 2014) The tanker United Kalavrvta, carrying some 1 million barrels of Iraqi Kurdish crude oil worth more than $100 million, arrived near Galveston Bay on Saturday.

Finance & Acquisition
U.S. Investor Klesch Takes Long View in Wales Refinery Deal
(Thursday, July 31, 2014) U.S. entrepreneur Gary Klesch is buying the Milford Haven oil refinery on the coast of Wales, safeguarding around 450 jobs and betting an ailing European refining industry can only move up.

Total Stops Buying Novatek Shares After MH17 Shot Down
(Wednesday, July 30, 2014) France's Total stops buying shares in Novatek, but says it is still too early to gauge the impact of western sanctions against Russia.

Phillips 66 Earnings Fall in Second Quarter
(Wednesday, July 30, 2014) U.S. refining company Phillips 66 on Wednesday reported a lower quarterly profit that fell short of Wall Street expectations as discounts for certain crude oils shrunk and diesel profitability decreased.

Valero Second-quarter Profit Rises
(Wednesday, July 30, 2014) Valero Energy Corp, the largest U.S. independent refiner, on Wednesday reported an increase in quarterly profit that met Wall Street expectations.

Czech Gas Pipeline Firm Puts Final Touches to Revamped Capital Structure
(Monday, July 28, 2014) Czech gas pipeline operator Net4Gas is in the final stages of overhauling its capital structure with equity financing, bonds and bank loans, it said.

People on the Move
NewMarket Elects New Chairman, Director
(Wednesday, July 30, 2014) NewMarket Corp. Tuesday announced that the Board of Directors has elected Thomas E. Gottwald to serve as Chairman of the Board of Directors.

Top Morgan Stanley Diesel Trader Joins Germany's Mabanaft-Sources
(Monday, July 28, 2014) One of Morgan Stanley's top diesel traders, Christoph Schaefer, has left the bank to join Germany's Mabanaft, four oil industry sources said on Monday.

BP's Downstream Chief Executive to Resign
(Thursday, July 24, 2014) BP's Iain Conn, Group Managing Director and Chief Executive, Downstream, announced he is leaving the company and will step down from BP's board by the end of the year.






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