Why a Small North Dakota Town is Taking on Big Rail

Tuesday, November 25, 2014 A federal court case pitting Enderlin, N.D., against Canadian Pacific may have national implications for crude-by-rail.
Read More

  Current Downstream Headlines

Outlook & Insights
High Court to Review EPA Mercury Limits
(Tuesday, November 25, 2014) The Supreme Court is stepping into a new case about Obama administration environmental rules, agreeing to review a ruling that upholds emission standards for mercury and other hazardous air pollutants from coal- and oil-fired power plants.

COLUMN-Low Oil Price to Boost Stocks, Deflation Risk
(Tuesday, November 25, 2014) Lower energy prices should stick around, boosting growth and risky assets like stocks but increasing the risks of deflation.

COLUMN-Oil in Arcadia
(Monday, November 24, 2014) Virtually every gallon of gasoline which New York motorists put into their cars, and the fuel oil used to heat their homes and offices through the long, cold winter, was refined from oil produced outside the state.

Brazil's Rousseff Struggling to Limit Petrobras Scandal's Damage
(Friday, November 21, 2014) President Dilma Rousseff expects a bribery scandal at state-run oil company Petrobras to deteriorate in coming months, aides say, with arrests possible for some political allies and potentially serious damage to an economy that is already struggling.

COLUMN-China Energy Targets Show Intent, Pick Winners and Losers
(Thursday, November 20, 2014) The 2020 plan calls for a doubling in the use of natural gas, from 120.9 billion cubic meters (bcm) in 2013 to at least 245 bcm.

Refining
Chile's Aconcagua Refinery Halted in Part Until December
(Tuesday, November 25, 2014) A fire at a refinery owned by Chile's state oil company ENAP has injured two workers.

Islamic State Fighters Battle Iraqi Forces Near Baiji Refinery
(Tuesday, November 25, 2014) Islamic State insurgents battled Iraqi forces in the centre of Baiji on Tuesday, a week after the army broke their prolonged siege of the country's largest oil refinery just outside the town, an army officer and residents said.

China Sinopec Starts 16-mln-bbl Crude Storage Base in Hainan
(Tuesday, November 25, 2014) The start-up of the Sinopec tank farm came amid market talk that Chinese oil refiners may be taking advantage of low global oil markets to stock up.

EU Refining Industry Needs to Shrink by 40 Percent-ING
(Monday, November 24, 2014) The European oil refining industry would be better off with just 60 plants, a cut of around 40 percent from today's number, a report from Dutch bank ING said on Monday

Kuwait's KNPC to Invest $40 Bln to 2022
(Monday, November 24, 2014) Kuwait National Petroleum Co (KNPC) plans to spend $40 billion in the period to 2022 on projects including a new refinery and a clean fuels project, its chief executive said on Monday.

Biofuels
France's Total Developing Advanced Biofuel Sugars from Plant Waste
(Tuesday, November 25, 2014) Total SA is exploring ways to convert sugars from plant waste that could be used to fuel aircraft while cutting greenhouse gases, the French oil major said on Tuesday.

Jury Orders Irish Man to Pay $2M Over Ethanol Deal
(Monday, November 24, 2014) A wealthy Irish investor must pay $2 million in damages to an Iowa doctor who was cut out of a major ethanol development in eastern Europe, a jury ruled Friday.

EPA Delays Decision on Ethanol in Gas
(Friday, November 21, 2014) The Obama administration said Friday it is delaying a decision on whether to reduce the amount of ethanol in the nation's fuel supply.

Ethanol 2014 RIN Prices Fall on U.S. EPA Delay of 2014 Targets
(Friday, November 21, 2014) Ethanol 2014 Renewable Identification Number (RIN) credit prices fell in anticipation of the EPA's announcement on Friday that it will not finalize 2014 biofuel requirements by the end of the year, brokers and traders said.

Ethanol Tumbles 7 Pct on Near-record U.S. Production
(Thursday, November 20, 2014) U.S. ethanol futures tumbled more than 7 percent on Wednesday after the Energy Information Administration pegged production of the grain-based biofuel last week at the second highest level on record.

Petrochemical
Chevron Phillips CEO: Petchem Industry Should Enhance Connectivity
(Tuesday, November 25, 2014) Social media platforms provide a "window" into corporate conduct and are redefining sustainability for the petrochemical industry, said Peter L. Cella, Chevron Phillips Chemical's president and chief executive officer.

Ineos Hires to Expand into North Sea Oil and Gas Production
(Monday, November 24, 2014) Swiss-based petrochemical and refining company Ineos is looking to expand into North Sea oil and gas production by hiring a number of senior and mid-level staff, its website showed on Monday.

SGL Says in Talks with Many Carmakers to Supply Carbon Fibre Parts
(Monday, November 24, 2014) SGL Group, the materials supplier for carbon fibre reinforced parts in BMW's electric cars, is in talks with several other carmakers to supply carbon fibre for a wider range of automotive components, its chief executive said.

EU Agrees Law to Curb Plastic Bag Use
(Friday, November 21, 2014) EU governments unanimously approved a new law to slash the use of plastic grocery bags on Friday, hoping to curb litter on land and a spreading "plastic soup" in the world's oceans.

Singapore Exchange to Launch Petrochemical Derivatives
(Friday, November 21, 2014) Singapore Exchange said on Friday it will launch five petrochemical swaps and futures in the next two months to meet rising demand for risk management in the industry.

Pipelines
Cyprus Eyes Gas Exports to Egypt via Pipeline
(Tuesday, November 25, 2014) Cyprus and Egypt agreed on Tuesday to accelerate talks on the potential export of Cypriot gas to Egypt, once the resources come on line.

NEB to Seek Canadians' Input on Pipeline Safety Improvements
(Tuesday, November 25, 2014) Peter Watson, Chairman of the National Energy Board (NEB or the Board), Tuesday launched a cross-Canada engagement initiative in a speech at a Saint John Chamber of Commerce luncheon.

Plains to Expand Major New Permian Basin Pipeline in Texas
(Monday, November 24, 2014) Plains All American aims to expand its new Cactus Pipeline to move West Texas oil to Corpus Christi, increasing the company's ability to move super-light crude to the Texas Gulf Coast for possible export.

Mexico's IEnova Wins CFE Gas Pipeline Project Near U.S. Border
(Monday, November 24, 2014) The Mexican subsidiary of U.S. firm Sempra Energy, said on Monday that Mexico's state power company CFE had awarded it a 25-year contract to build and operate a natural gas pipeline in the north of the country.

Shell Shuts Nigeria Pipeline Carrying Bonny Light Crude
(Monday, November 24, 2014) Nigeria's oil exports were disrupted after Shell's local unit shut a pipeline that carries a key grade after it discovered a leak on Saturday, the company said on Monday.

Terminals & Storage
Why a Small North Dakota Town is Taking on Big Rail
(Tuesday, November 25, 2014) A federal court case pitting Enderlin, N.D., against Canadian Pacific may have national implications for crude-by-rail.

Venezuela and China Amend Oil-for-loans Agreement
(Tuesday, November 25, 2014) Venezuela and China have amended an oil-for-loans agreement to provide the OPEC nation more prompt payment for its oil shipments without substantially altering the terms of conditions of the bilateral deal.

China Sinopec Starts 16-mln-bbl Crude Storage Base in Hainan
(Tuesday, November 25, 2014) The start-up of the Sinopec tank farm came amid market talk that Chinese oil refiners may be taking advantage of low global oil markets to stock up.

Russian Seaborne West-bound Oil Exports Seen at Decade-low in December
(Tuesday, November 25, 2014) Exports of Russian crude oil to Western markets are set to fall by almost a third in December and reach a 12-year low as traders withhold cargoes to wait for lower duties from Jan. 1, a preliminary export programme showed on Tuesday.

Fitch: Gas Supply Near 5-year Average; Less Shale Drilling A Concern
(Tuesday, November 25, 2014) Natural gas storage has largely recovered from the inventory depletions that followed last year's polar vortex winter despite the recent burst of cold weather in the US and related drawdown in gas inventories, according to Fitch Ratings.

LNG / LPG
Cyprus Eyes Gas Exports to Egypt via Pipeline
(Tuesday, November 25, 2014) Cyprus and Egypt agreed on Tuesday to accelerate talks on the potential export of Cypriot gas to Egypt, once the resources come on line.

Freeport LNG Begins Construction of Two Initial Liquefaction Trains
(Tuesday, November 25, 2014) With closing on financing, Freeport LNG has completed all milestones and issued a full notice to proceed to CB&I, Inc. and Zachry Industrial, Inc. to construct the first two liquefaction trains of the Freeport LNG liquefaction project.

Eni Signs Small-scale LNG Deal with Skangass
(Monday, November 24, 2014) Eni and Skangass signed a Small Scale LNG (SSLNG) agreement in order to supply Skangass’ customer base in Scandinavia with liquefied natural gas for two years starting from January 2015.

Canadian Aboriginal Group Signs Deal to Support LNG Pipeline
(Friday, November 21, 2014) A Canadian aboriginal community has signed a deal with British Colombia to allow a gas pipeline to be built in its territory, setting the stage for more pacts that could bolster liquefied natural gas (LNG) export projects in the coastal province.

Korea Gas Looking to Sell Down Part of Stake in Canadian LNG Project
(Friday, November 21, 2014) Korea Gas Corp, one of the world's top liquefied natural gas buyers, is looking to sell down some of its stake in the up to C$40 billion ($35.6 billion) LNG Canada project, a spokeswoman for the project said.

Commodities
Mexico: Ministers Agreed to Monitor Markets at Vienna Oil Talks
(Tuesday, November 25, 2014) Oil producers Mexico, Venezuela, Russia and Saudi Arabia have agreed to constantly monitor international markets and meet again in February, Mexico's energy ministry said on Tuesday, citing a slide in oil prices.

German Deputy Minister Calls on Airlines to Lower Fuel Surcharges
(Tuesday, November 25, 2014) Airlines should lower their fuel surcharges to reflect a recent decline in oil prices, Gerd Billen, Germany's deputy minister of justice and consumer protection, said on Tuesday.

Saudi, Russia Pre-OPEC Talks Yield No Oil Output Cut
(Tuesday, November 25, 2014) Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.

Oil Ends Down After Swinging On OPEC Speculation; Brent Below $80/bbl
(Monday, November 24, 2014) Crude prices end lower, with Brent below $80 a barrel, after a volatile session.

U.S. Gasoline Prices Slide to a 4-year Low -Lundberg Survey
(Monday, November 24, 2014) The average price of a gallon of gasoline in the United States dropped 10 cents in the past two weeks, hitting a four-year low, according to the latest Lundberg survey released on Sunday.

Finance & Acquisition
Couche-Tard Profit Jumps As U.S. Fuel Margins Improve
(Tuesday, November 25, 2014) Canadian convenience store and gasoline station operator Alimentation Couche-Tard Inc reported a 25 percent rise in quarterly profit, driven by higher fuel margins in the United States.

Tanker Company Frontline Posts Deeper Third-quarter Loss
(Tuesday, November 25, 2014) Frontline, once the world's biggest crude oil tanker company, reported a bigger than expected third-quarter loss on Tuesday and said it is still considering options to restructure its debt and lease obligations.

Crestwood Equity to Sell Tres Palacios to Crestwood Midstream-Brookfield JV
(Monday, November 24, 2014) Crestwood Midstream will own 50.01% of Tres Palacios Holdings LLC and will be the operator of Tres Palacios and its assets. The transaction is expected to close in early December 2014.

Dow Chemical, Dan Loeb Settle Board Debate
(Friday, November 21, 2014) Dow Chemical Co averted a proxy fight with Dan Loeb's hedge fund, Third Point LLC, by agreeing to add four independent directors to its board, sending its shares up as much as 4.5 percent.

BW LPG Says No plans for U.S. Listing; Results Miss Hits Shares
(Thursday, November 20, 2014) Oslo-listed gas carrier BW LPG has no plans to list its shares on a U.S. stock market, even though analysts believe the firm's assets could potentially obtain a higher valuation, Chief Executive Officer Nicholas Gleeson said on Thursday.

People on the Move
AFPM Promotes Williams to Executive VP
(Monday, November 24, 2014) American Fuel & Petrochemical Manufacturers (AFPM) announced Monday that Brendan Williams has been promoted to executive vice president effective Jan. 1, 2015.

Pryor to Retire from ExxonMobil Chemical; Chapman Is Likely Successor
(Friday, November 21, 2014) Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service.

Purgason, Bennett to Take on Senior VP Roles at Williams
(Thursday, November 20, 2014) Williams Thursday announced that Robert Purgason and Walter Bennett each will assume a role as senior vice president of one of the company’s operating areas, effective Jan. 1.

Petrobras Probe Finds Corruption, One Executive Fired -Source
(Wednesday, November 19, 2014) Brazil's state-run oil company, Petrobras, has fired one executive for corruption and identified about 15 other employees involved in irregular contracts with suppliers, a source familiar with the situation said on Wednesday.

JPMorgan Hires Former Glencore Crude Trader in Singapore -Sources
(Wednesday, November 19, 2014) JPMorgan Chase & Co has hired Edwin Tay, formerly with Glencore, as a senior crude oil trader in Singapore, industry sources said on Wednesday.






Home || Jobs || News || Projects || Events || Glossary

Newsletters || Privacy Policy || Contact Us || Advertise


Copyright © 2014 DownstreamToday.com. All rights reserved.
A Service of Rigzone.com