China's First Private-led Mega-refinery Planned Off East Coast
China's First Private-led Mega-refinery Planned Off East Coast

Friday, April 29, 2016 The complex, to be built on an island near Shanghai, would include a 400,000 barrels per day refinery and a 1.4 million tonnes a year ethylene plant.
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  Current Downstream Headlines

Outlook & Insights
Exxon Fiddles While Its Reputation Gets Singed: Gadfly
(Friday, April 29, 2016) Three out of four ain't bad. But in dealing with the downturn, Big Oil is still drawing heavily on its reserves of oil and gas, credit -- and reputation.

COLUMN-China Stimulus May Give Temporary Boost to Gasoil Margins
(Thursday, April 28, 2016) It may prove only temporary relief, but Asian refiners appear set to enjoy higher margins in coming weeks for gasoil, the middle distillate that includes diesel and jet fuel.

COLUMN-Saudi Arabia Will Struggle to Kick Its Addiction to Oil
(Wednesday, April 27, 2016) Sharing oil wealth in exchange for popular submission to absolute monarchical rule has always been central to the social contract between the ruling Al Saud and the kingdom's population.

Germany to Launch 1 Bln-euro Discount Scheme for Electric Car Buyers
(Wednesday, April 27, 2016) Critics say higher electricity generation to charge battery cars will increase carbon dioxide emissions.

M&A Effectiveness: The People Side of Things
(Tuesday, April 26, 2016) With so many moving parts to an M&A deal, Rigzone takes a deeper look at the people component.

Refining
China's First Private-led Mega-refinery Planned Off East Coast
(Friday, April 29, 2016) The complex, to be built on an island near Shanghai, would include a 400,000 barrels per day refinery and a 1.4 million tonnes a year ethylene plant.

Iran Snags More European Oil Buyers in Slog for Market Share
(Friday, April 29, 2016) Two European refiners are set to receive their first oil cargoes from Iran since international sanctions were lifted in January against the country, which is ramping up crude exports in a battle to take back market share.

Refining's Silver Lining Loses Luster at Exxon and Chevron
(Friday, April 29, 2016) Growing fuel inventories and weak demand are now hammering the refining industry.

Kuwait's KNPC Signs 1.2 Billion Dinar Loan for Fuels Project
(Thursday, April 28, 2016) State-owned refiner Kuwait National Petroleum Co (KNPC) signed on Thursday the first tranche of financing for its multi-billion-dollar Clean Fuels Project, a major plank of the country's economic development plan.

Air Liquide Upgrades, Expands Complex Near Houston
(Thursday, April 28, 2016) Air Liquide U.S. held Wednesday an inauguration ceremony to celebrate the successful redevelopment of its world-scale complex in Texas’ Bayport Industrial District, just east of Houston.

Biofuels
Argentina's Ethanol Makers Seen Increasing Output by Up to 60 Pct
(Tuesday, April 26, 2016) In April, the government raised the amount of ethanol used by motorists by 2 percentage points to 12 percent.

Total Targets Gas, Renewables and Power Expansion
(Tuesday, April 19, 2016) "Gas, Renewables and Power will spearhead Total's ambitions in the electricity value chain by expanding in gas midstream and downstream, renewable energies and energy efficiency," Total said in a statement.

Indonesia's Pertamina, AKR to Buy Up to 1.6 Mln Kl of Biodiesel -Official
(Monday, April 18, 2016) Indonesia state oil company Pertamina and AKR Corporindo will buy up to 1.6 million kilolitres of unblended biodiesel for May to October, the head of the country's biodiesel subsidy program operator said Monday.

Petrochemical
China's First Private-led Mega-refinery Planned Off East Coast
(Friday, April 29, 2016) The complex, to be built on an island near Shanghai, would include a 400,000 barrels per day refinery and a 1.4 million tonnes a year ethylene plant.

BASF Pruning Portfolio as Bigger Deal Eludes Chief Bock
(Friday, April 29, 2016) BASF SE Chief Executive Officer Kurt Bock pledged more pruning of the company's sprawling product range as larger targets have so far fallen short of the biggest chemical maker’s acquisition criteria.

South Korea's LG Chem Says Duped Over $21 Mln Naphtha Payment
(Thursday, April 28, 2016) South Korea's biggest chemical company LG Chem said on Thursday it had sought help from authorities retrieving $21 million that it believed had been paid into a fake bank account to purchase a refined oil product.

EU Calculation for Handing Out Free Carbon Permits Flawed - Court
(Thursday, April 28, 2016) Europe's highest court on Thursday ruled that the European Commission's calculation for handing out free carbon permits to industries was flawed, raising the prospect of higher costs for big energy users.

Air Liquide Upgrades, Expands Complex Near Houston
(Thursday, April 28, 2016) Air Liquide U.S. held Wednesday an inauguration ceremony to celebrate the successful redevelopment of its world-scale complex in Texas’ Bayport Industrial District, just east of Houston.

Pipelines
Western Pennsylvania Natgas Pipeline Explodes, Injuring One
(Friday, April 29, 2016) A natural gas pipeline outside Pittsburgh exploded on Friday, setting off a fire that destroyed a home, injuring one person inside it and forcing the evacuation of nearby residents, state and local officials said.

TransCanada Says Keystone Maintenance Will Not Affect May Volumes
(Friday, April 29, 2016) TransCanada Corp said on Friday maintenance planned for the 590,000 barrel-per-day Keystone pipeline in May, one of the main crude conduits from Canada to the United States, will not impact its ability to ship contracted volumes for that month.

Arbitration Court Fines YPF $500 Mln in Gas Export Case
(Thursday, April 28, 2016) Argentine state explorer YPF has been fined around $500 million by an international arbitration court over contract cancellations relating to natural gas exports to Brazil in the last decade, the company said on Wednesday.

Jacobs Wins Contract for Tuxpan-Tula Compressor and Metering Stations
(Tuesday, April 26, 2016) TransCanada is the builder, owner and operator of the pipeline, which is supported by a 25-year natural gas transportation service contract with the Comisión Federal de Electricidad (CFE)

Husky Selling Part Interest in Midstream Assets for C$1.7 Bln
(Tuesday, April 26, 2016) Husky will retain 35 percent interest and remain operator of the assets, which are located in Alberta and Saskatchewan and consist of around 1,900 kilometres of pipeline, 4.1 million barrels of oil storage capacity and other ancillary assets.

Terminals & Storage
Unsold Crude at Sea Raises Warning Flag to Oil Price Bounce
(Friday, April 29, 2016) Dozens of tankers with unsold crude have been amassing at sea in the past few weeks, vividly reminiscent of 2015 when a recovery in oil prices was scuppered by rising physical supply.

Planned Texas Dock Will Give Colonial Customers Marine Export Options
(Friday, April 29, 2016) The planned facility will give Colonial customers access to marine shipping via the southern-most segment of the Sabine-Neches Waterway, which serves the Texas commercial ports of Beaumont, Orange and Port Arthur.

Rare Gasoline Cargo Heads from China to United States
(Thursday, April 28, 2016) "A lot of distillate goes from Asia to Latin America," one trader said. "But on gasoline, it's very unusual."

Enterprise Sees Ample Capacity to Ramp Up Crude Exports
(Thursday, April 28, 2016) Enterprise Products Partners said on Thursday that it has ample dock capacity to ramp up U.S. crude exports and could handle much more volume without further spending.

Cenovus Mulling Diluent Recovery Unit at Alberta Rail Terminal
(Thursday, April 28, 2016) Cenovus Energy is looking into building a diluent recovery unit at its Bruderheim crude-by-rail terminal near Edmonton, Alberta, which would allow the company to ship raw bitumen in tank cars and save on condensate costs.

LNG / LPG
Russia LNG Plant Gets $12 Billion From China Amid Sanctions
(Friday, April 29, 2016) The $27 billion Yamal development has pushed ahead amid concerns that U.S. sanctions limiting financing may derail its attempts to borrow.

Eni May Benefit from Tech Savvy Partner in Mozambique LNG-CFO
(Friday, April 29, 2016) Eni has been in talks to sell a stake in its Area 4 gas development off the coast of Mozambique. Area 4 will feed a series of onshore LNG export plants, mainly supplying Asian markets.

Petronas Canada LNG Project Chief Sees Investment Decision in Months
(Friday, April 29, 2016) Petronas and its partners hope to make a final decision within months on whether to build what could be Canada's first LNG export project, though further delays to the environmental review could push that timeline back, the project chief said.

Origin Hikes LNG Earnings Forecast on Strong Output at New Plant
(Friday, April 29, 2016) Origin Energy Ltd on Friday more than doubled its outlook for earnings from liquefied natural gas this year, saying the first unit at its Australia Pacific LNG plant was producing at above its rated capacity of 4.5 million tonnes a year.

Enterprise Sees Ample Capacity to Ramp Up Crude Exports
(Thursday, April 28, 2016) Enterprise Products Partners said on Thursday that it has ample dock capacity to ramp up U.S. crude exports and could handle much more volume without further spending.

Commodities
Oil Ends Steady Near $50; Best Monthly Gain in Brent in 7 Years
(Friday, April 29, 2016) Oil prices ends week after hitting 2016 highs but finished April trading about 20 percent higher, with Brent crude having its best monthly gain in seven years.

Oil Jumps 2% Despite Glut, Hits 2016 Peaks
(Thursday, April 28, 2016) Oil markets jump 2 percent, hitting 2016 highs for a third straight day as a weaker dollar had investors shrugging off record high US crude inventories and relentless pumping by major producers.

Oil Jumps 2% Despite Glut, Hits 2016 Peaks On Weak Dollar
(Thursday, April 28, 2016) Oil markets jump 2 percent, hitting 2016 highs for a third straight day as a weaker dollar had investors shrugging off record high US crude inventories and relentless pumping by major producers.

DME Lists First-ever Mideast Oil Product Futures Contracts
(Thursday, April 28, 2016) The Dubai Mercantile Exchange (DME) said derivatives on fuel oil delivered to the Middle East Gulf will be traded from May 16, the first ever listing on the exchange of a Middle East refined product.

Oil Jumps To 2016 Highs As Dollar Drops On Fed Decision
(Wednesday, April 27, 2016) Oil prices jump about 3%, hitting new highs for 2016 as the dollar weakens after the Federal Reserve announces it would leave US interest rates unchanged.

Finance & Acquisition
Phillips 66 Expects Better Gasoline Margins in Summer
(Friday, April 29, 2016) Phillips, the nation's fourth-largest refiner, reported more than a 40 percent drop in profit from the prior year as weak margins squeezed most divisions.

Industrial Chemicals Unit Helps Limit BASF's Q1 Profit Fall
(Friday, April 29, 2016) Chemical company BASF's adjusted operating profit fell a less than expected 8 percent in the first quarter as cost cuts and rising orders in March in its industrial chemicals business helped offset a slump in oil and gas.

Oil Price Weakness Drives Canada's Imperial to Bigger-than-expected Loss
(Friday, April 29, 2016) Canadian integrated oil producer and refiner Imperial Oil Ltd reported a slightly bigger-than-expected quarterly loss on Friday, hurt by continued weakness in global crude prices.

TransCanada Reports Better-than-expected Q1 Profits
(Friday, April 29, 2016) TransCanada Corp reported a better-than-expected quarterly profit on Friday, helped by higher income from its Ontario nuclear energy company Bruce Power and a lower-than-expected effective tax rate.

Dow Chemical Beats Profit Estimates as Margins Widen on Cuts
(Thursday, April 28, 2016) Dow Chemical Co., which plans to merge with DuPont Co. by year-end, posted first-quarter earnings that exceeded analysts’ estimates as cost cuts and the sale of the chlorine business contributed to wider profit margins.

People on the Move
Lessons, Best Practices for Interns Searching in Oil, Gas
(Thursday, April 28, 2016) Former interns give advice and share best practices for getting the most out of your oil and gas internships.

Amec Foster Wheeler Appoints Halliburton Executive as CEO
(Wednesday, April 27, 2016) British oil and gas services company Amec Foster Wheeler said it has appointed Halliburton executive Jonathan Lewis as chief executive on Wednesday, replacing long-serving CEO Samir Brikho who left unexpectedly in January.

Mercuria U.S. Fuel Oil Chief Moves to Ex-HETCO Venture Hartree -Sources
(Monday, April 25, 2016) Mercuria Energy Trading's head of U.S. fuel oil left the Swiss commodities merchant last week to join Hartree Partners, an energy trader formerly known as HETCO, as it expands in Houston, two sources familiar with the matter said.

Gulf Oil Reveals New Leadership Team
(Tuesday, April 19, 2016) Gulf Oil, LP, one of the fastest growing branded marketers of energy products in the U.S., announced its new leadership team following its acquisition, as well as that of Pyramid Petrolem Terminals, formerly PPC, by ArcLight Capital Partners, LLC.

Kuwait Oil Union Says It Will Continue Strike -Spokesman
(Tuesday, April 19, 2016) "The strike is ongoing until the implementation of the demands of the workers," Farhan al-Ajmi, head of the Petrochemicals Industries Company workers union, told a news conference.






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