U.S. Consumer Prices Fall on Gasoline; Eyes on Fed

Wednesday, December 17, 2014 U.S. consumer prices recorded their biggest drop in nearly six years in November as gasoline prices tumbled.
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  Current Downstream Headlines

Outlook & Insights
OPINION: Don't Get Used to Cheap Oil
(Tuesday, December 16, 2014) The recent slump in oil prices has sent gasoline prices below $3 a gallon, leading many Americans to believe that our energy predicament is a vestige of the past.

In Canada's Oil Sands, A Boomtown Starts Feeling the Chill
(Tuesday, December 16, 2014) The boomtown in the heart of Canada's oil sands region is getting nervous.

Exec: Bakken Rail Loading Available Today, Will Be Vital Tomorrow
(Monday, December 15, 2014) Crude oil export options are expanding and diversifying for Bakken producers.

Like Low Gas Prices? So Does the Station Owner
(Friday, December 12, 2014) So you think you are finally getting one over on the gas stations as you pay well under $3 a gallon for the first time in four years?

Slow Demand, Rising Supply Put Further Pressure on Oil Price -IEA
(Friday, December 12, 2014) Oil prices are likely to come under further downward pressure, the International Energy Agency said on Friday, as it cut its outlook for demand growth in 2015 and predicted healthy non-OPEC supply gains would aggravate a global oil glut.

Refining
New Gas Plant Could Save Ghana $300 Mln on Fuel Costs -Official
(Wednesday, December 17, 2014) Ghana has begun processing gas from its offshore Jubilee oil field through a pipeline project that could save the government $300 million a year on fuel costs even with the current steep drop in oil prices, state-owned Ghana Gas said on Wednesday.

EU Lawmakers Fail to Approve Tar Sands Oil Veto
(Wednesday, December 17, 2014) After years of lobbying from Canada, the European Commission published a new plan in October on reporting the greenhouse gas intensity of transport fuels. It abandoned the idea of labelling tar sands oil as highly polluting.

Fluor Starts Delayed Coker Work at Antwerp
(Tuesday, December 16, 2014) Fluor Corp. has started construction activities on a new delayed coker unit for ExxonMobil Petroleum & Chemical BVBA (ExxonMobil) at its Antwerp, Belgian refinery.

Canadian Oil Sands Expects Lower Syncrude Production
(Tuesday, December 16, 2014) Canadian Oil Sands Ltd, the largest shareholder in the Syncrude Canada Ltd joint venture, said it expects 2014 Syncrude production to be lower than its previous outlook due to outage in a sour water treater.

Thai Bangchak Petroleum to Invest $305 Mln in 2015, Boost Refining Output
(Monday, December 15, 2014) Thai oil refiner Bangchak Petroleum Pcl said on Monday it plans to invest at least 10 billion baht ($305 million) in 2015 to develop its refinery, marketing and renewable businesses as part of a drive to diversify sources of revenue.

Biofuels
US Study: All-electric Car May Not Be So Green
(Tuesday, December 16, 2014) Ethanol isn't so green, either.

Belgian Energy Island May Get Go Ahead in Early 2015 - Ministry
(Wednesday, December 10, 2014) Belgium will decide early next year whether to build a ring-shaped island off its coast to store wind energy, in one of the world's first attempts to make the renewable source available on demand, the government said.

Malaysia's Felda Global to Triple Biodiesel Output by 2016
(Tuesday, December 09, 2014) Malaysia's Felda Global Ventures Holdings, the world's third-largest palm plantation operator, plans to more than triple its production of palm-based biodiesel over the next two years, with a third of it expected to be consumed locally.

API: E15 Mandate in Chicago Would Hurt Consumers, Small Businesses
(Monday, December 08, 2014) Mandating E15 is a bad idea for Chicago’s drivers and station owners, Illinois Petroleum Council (IPC) Executive Director Jim Watson said after the finance committee passed the measure Monday.

2 Get Home Confinement in Stolen Cooking Oil Case
(Thursday, December 04, 2014) Two brothers in their 70s have been sentenced to home confinement and probation for conspiring to sell 200,000 gallons of used cooking oil stolen from restaurants in Rhode Island and Massachusetts to a processing plant in New Hampshire.

Petrochemical
UOP: Propylene Unit Reaches Capacity in Russia
(Wednesday, December 17, 2014) Russia's OOO Tobolsk-Polymer facility, which became the largest Oleflex production unit in the world, is meeting design capacity of 510,000 metric tons annually (MTA) of propylene at its facility in Western Siberia.

Japan to Shut Four Naphtha Crackers for 2015 Turnaround
(Monday, December 15, 2014) A total of four naphtha crackers in Japan are set to enter scheduled maintenance shutdowns in 2015, down from nine this year, industry sources said.

ACC: US Chemical Industry Set to Outpace Overall Economic Growth
(Friday, December 12, 2014) "We're in the midst of an historic expansion, and the U.S. remains the most attractive place in the world to invest in chemical manufacturing," said ACC President and CEO Cal Dooley.

Chevron Phillips Completes Sweeny Ethylene Expansion
(Thursday, December 11, 2014) "This represents the next increment of expansion to our ethylene business," said Dave Smith, olefins & natural gas liquids vice president for Chevron Phillips Chemical.

Alfa Laval Wins S. Korea Heat Exchanger Order
(Tuesday, December 09, 2014) Alfa Laval – a world leader in heat transfer, centrifugal separation and fluid handling – has won an order to supply Alfa Laval Packinox heat exchangers to a petrochemical plant in South Korea.

Pipelines
Keystone XL: Oil, Gas Industry Awaits Fate of the Pipeline's Final Phase
(Wednesday, December 17, 2014) TransCanada, and the oil and gas industry, is hoping 2015 is the year that the Keystone XL pipeline project gets the go-ahead.

Iraqi Kurdistan Says Oil Exports Could Total 800,000 bpd Next Year
(Wednesday, December 17, 2014) Iraq's semi-autonomous Kurdistan Regional Government will ramp up oil exports in the coming months, moving it closer to economic self-sufficiency while it works to clinch a final deal with Baghdad on crude sales and revenue sharing.

Poland and Ukraine to Look at Expanding Gas Transport Links
(Wednesday, December 17, 2014) Polish and Ukrainian state gas pipeline operators signed an agreement on Wednesday to look into expanding their capacity to transport gas between the two countries, the Polish pipeline group Gaz-System said in a statement.

Oil Pipeline to Top US Senate Agenda Next Year
(Tuesday, December 16, 2014) Senate Republican Leader Mitch McConnell says approving the Keystone XL pipeline will top the Senate agenda in January. The issue could set up an early 2015 veto confrontation with President Barack Obama.

Buckeye Says 7 U.S. Pipelines Overbooked for January 2015
(Tuesday, December 16, 2014) Buckeye Partners LP said on Tuesday nominations for seven of its refined product pipeline segments in the United States were overbooked for January 2015.

Terminals & Storage
Brazil's Levy Does Not Rule Out Increasing Tax on Domestic Fuel
(Wednesday, December 17, 2014) Brazil's incoming finance minister Joaquim Levy on Wednesday vowed to swiftly adjust fiscal policies by cutting government expenses and possibly raising taxes, including a so-called CIDE tax on domestic fuel sales.

U.S. Crude Inventories Fall in Week to Dec. 12 - EIA
(Wednesday, December 17, 2014) U.S. crude stocks fell less than expected last week, while gasoline stocks increased and distillate inventories declined, data from the Energy Information Administration showed on Wednesday.

Shipping Industry Modifies Clauses in Contracts for Ebola Risks
(Tuesday, December 16, 2014) Uncertainty about the spread of Ebola is adding to legal and financial issues for those involved in shipping oil, cocoa and minerals from the region.

Libya: Fighting Closes Largest Oil Export Terminal
(Monday, December 15, 2014) The minister of oil in Libya's Tripoli-based government says the country's largest oil shipping terminal has been shut down due to clashes between rival militias.

North Dakota Sees Low Cost to Comply with Crude Standards
(Monday, December 15, 2014) North Dakota's strict new standards for oil treatment, requiring every barrel of crude be filtered for dangerous types of natural gas, should add 10 cents to the cost of producing every barrel, regulators said on Friday.

LNG / LPG
Skilled Oil, Gas Workers Needed by Petronas if BC LNG Terminal Approved
(Wednesday, December 17, 2014) Several hundred workers will likely be needed to help construct an LNG terminal for Petronas if the project is approved by Pacific Northwest LNG.

Tepco, Chubu to Hold Japan's First Joint LNG Tender
(Wednesday, December 17, 2014) Tokyo Electric Power Co and Chubu Electric Power Co,, two of the world's biggest buyers of liquefied natural gas (LNG), are holding an international tender for the fuel, one of the utilities said.

Morocco Revives $4.6 Bln LNG Import Plan
(Tuesday, December 16, 2014) Morocco has launched a national plan to boost imports of liquefied natural gas (LNG), including the construction of a terminal at the industrial hub of Jorf Lasfar, worth up to $4.6 billion, its energy minister said on Tuesday.

Australia's Woodside Postpones Decision on Browse LNG Project
(Tuesday, December 16, 2014) Woodside Petroleum Ltd said on Tuesday it was postponing an investment decision on whether to proceed with development of the Browse floating liquefied natural gas project off the coast of Australia due to low oil prices.

Apache to Sell Stakes in LNG Projects to Woodside for $2.75 Bln
(Monday, December 15, 2014) Apache Corp said on Monday it would sell its stakes in two liquefied natural gas projects, Wheatstone LNG in Australia and Kitimat LNG in Canada, to Australia's Woodside Petroleum Ltd for $2.75 billion.

Commodities
U.S. Consumer Prices Fall on Gasoline; Eyes on Fed
(Wednesday, December 17, 2014) U.S. consumer prices recorded their biggest drop in nearly six years in November as gasoline prices tumbled.

Oil Surges In About-Face As Some Bet Sub-$60 Brent Won't Last
(Wednesday, December 17, 2014) World oil prices jump as much as 6% before closing off their peaks as weeks of nearly non-stop selling abruptly halt.

Brent Falls, Ends Below $60, US Crude Up Near $56
(Tuesday, December 16, 2014) Brent crude futures fall for a fifth straight day to end below $60 a barrel while US crude finishes a volatile session slightly higher.

Venezuela's Maduro Says 'No Rush' to Hike World's Cheapest Gasoline
(Monday, December 15, 2014) Venezuela's Nicolas Maduro said there was "no rush" to hike the world's cheapest gasoline prices, suggesting the increasingly unpopular president has shied away from implementing the risky domestic reform in the near future amid an economic crisis.

Oil Falls Anew As OPEC Emergency Meet, Output Cut Ruled Out
(Monday, December 15, 2014) Crude prices plunge further after OPEC once again says it will not cut oil output despite fears of a glut.

Finance & Acquisition
Cash-strapped Indian Airline SpiceJet Grounded
(Wednesday, December 17, 2014) Low-cost Indian airline SpiceJet grounded all flights Wednesday after oil companies stopped supplies of jet fuel to the financially beleaguered carrier.

Snam Sets Terms of Reserved Cash Call to Buy TAG Gas Pipeline
(Wednesday, December 17, 2014) Italian gas grid operator Snam said its board had approved the conditions of a reserved capital increase of 502 million euros to buy the Trans Austria Gasleitung GmbH (TAG) pipeline carrying Russian gas into Italy.

Berkshire Hathaway Buys Oil Logistics Business Charter Brokerage
(Monday, December 15, 2014) Warren Buffett's Berkshire Hathaway Inc on Friday said it was buying oil industry logistics provider Charter Brokerage from private equity firm Arsenal Capital Partners.

EU Regulators Okay BP to Acquire Statoil Fuel and Retail Aviation
(Monday, December 15, 2014) European Union competition authorities gave conditional clearance on Monday for oil major BP to acquire jet fuel business Statoil Fuel and Retail Aviation (SFRA).

Enbridge's Midcoast Energy Partners Cuts Jobs As Nat Gas Volumes Decline
(Monday, December 15, 2014) Enbridge's Midcoast Energy Partners business unit reduces workforce amid a drop in natural gas volumes in the pipeline.

People on the Move
Petrobras Senior Management May Have to Resign Over Scandal -CEO
(Wednesday, December 17, 2014) Senior management at Petroleo Brasileiro SA may have to resign to avoid further delays of the Brazilian state-run oil company's audited third-quarter earnings report, Chief Executive Officer Maria das Graças Foster said on Wednesday.

Enterprise Makes Three Legal Appointments
(Wednesday, December 17, 2014) Enterprise Products Partners L.P. Wednesday announced that the board of directors of its general partner has elected Craig W. Murray as Group Senior Vice President and General Counsel.

Saudi Sabic's Finance Head Says Leaving to Become Tasnee CEO
(Monday, December 15, 2014) The chief financial officer of Saudi Basic Industries Corp (Sabic) said he has left the petrochemical company to become chief executive of National Industrialisation Co (Tasnee).

Lucey to Succeed Gayda at PBF
(Friday, December 12, 2014) Matthew Lucey, currently Executive Vice President, will become President of PBF Energy next month.

Canada Aboriginal Group Picks New Chief; Development in Spotlight
(Wednesday, December 10, 2014) Canada's main aboriginal group elected a new chief on Wednesday who pledged to oppose development of pipelines, mines and other resource projects unless they provide a "fair share" of benefits for often impoverished natives.






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