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DNV's Bennett: Innovation Key to Survival
Friday, July 03, 2009
Graham Bennett of DNV Energy discusses the risks of operating refineries and steps that can be taken to mitigate those risks, while advising that changes in the energy industry with require innovation and agility for companies to succeed.
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Current Downstream Headlines
Outlook & Insights
DNV's Bennett: Innovation Key to Survival
(Friday, July 03, 2009) Graham Bennett of DNV Energy discusses the risks of operating refineries and steps that can be taken to mitigate those risks, while advising that changes in the energy industry with require innovation and agility for companies to succeed.
Do Global Warming Models Have A Key Assumption Wrong?
(Monday, June 29, 2009) A new peer-reviewed paper argues that the relationship assumed by virtually
all climate models that temperature changes cause clouds to change could generate forecasts predicting greater global warming than actually will be experienced.
More Gas Than We Ever Expected - A Good Thing?
(Friday, June 26, 2009) The Potential Gas Committee has just issued its latest report on gas
supply in the United States that is much more optimistic than its
report two years ago.
Refining
Petrobras Begins Refining 'Pre-Salt' Crude
(Friday, July 03, 2009) Brazilian state-controlled energy giantPetrobras said it has begun refining the first oil extracted fromthe ultra-deep Tupi field, one of the massive, "pre-salt"discoveries in the Santos Basin.
Jobs At Risk As Attempts To Sell UK Refinery Draw Blank
(Friday, July 03, 2009) Hundreds of workers at a Teesside refinery are being warned of redundancy after attempts to find a buyer for the site have so far drawn a blank.
Vietnam Rolls Out First Batch of Commercial Petrol
(Friday, July 03, 2009) Vietnam on July 1 made its first batch of commercial A92 and A95 petrol meeting national standards at its first-ever domestic oil refinery, located in the central province of Quang Ngai.
Asian Refiners Seek Relief In Lower Prices
(Friday, July 03, 2009) Asian refiners are looking for some relief in the Middle East crude oil market, hoping major suppliers will reduce their prices in the coming days and ease the pain of weak margins.
Foreign Firms Show Interest In Vietnam's $8B Refinery - Report
(Friday, July 03, 2009) Several foreign companies are interested in joining a $8 billion project to build a refinery in southern Vietnam, state media said Friday.
Pipelines
Nigeria, Niger and Algeria Sign Pipeline Accord
(Friday, July 03, 2009) Nigeria, Niger and Algeria on Friday signed an agreement to build a pipeline that will bring Nigerian gas acrossthe Sahara desert to the European markets.
No Definite Date for Nabucco Agreement - Turkish Official
(Friday, July 03, 2009) There was no definite date for the inking of an intergovernmental agreement on the Nabucco pipeline project, Turkish media quoted Turkey's energy minister as saying Friday.
Finland Wants More Nord Stream Analysis
(Thursday, July 02, 2009) A Finnish environmental agency gave cautious approval to the prospective Nord Stream gas pipeline Thursday, but asked for more studies to be done.
Fifth Explosion Hits Canadian Pipeline
(Thursday, July 02, 2009) A Canadian natural gas pipeline in northern British Columbia has been damaged by an explosion for the fifth time since October, officials said Thursday.
Nigeria, Algeria Set To Sign Trans-Sahara Pipe Deal - Official
(Thursday, July 02, 2009) Nigeria, Niger and Algeria are set to sign an agreement Friday to launch works for the Trans-Sahara natural gas route, Africa's largest pipeline project by cost, a spokeswoman for Algeria's Energy Ministry said Thursday.
Terminals & Storage
EPA Seeks Stringent Emissions Standards for Large Ships
(Thursday, July 02, 2009) The Environmental Protection Agency on Wednesday announced the next steps in what it calls a coordinated strategy to slash harmful emissions from ocean-going vessels.
ExxonMobil To Pay $470M On Valdez Case; Contests Bond Costs
(Tuesday, June 30, 2009) Exxon Mobil Corp. (XOM) has agreed to pay $470 million in interest on punitive damages to plaintiffs in the Exxon Valdez oil spill case, but the Texas oil giant is disputing a U.S. court decision to make it pay contested bond costs.
Shell, Sovcomflot Sign Shipping Cooperation Deals
(Monday, June 29, 2009) Open Joint Stock Company 'Sovcomflot' and Shell International Trading & Shipping Company Limited (Shell) on Saturday signed a General Cooperation Agreement.
CNOOC, Fujian Govt To Invest In Xi'nan Peninsula
(Wednesday, June 24, 2009) CNOOC Group and the provincial government of Fujian will invest 23 billion yuan to build an industrial park in Xi'nan Peninsula, Fujian province, to better serve CNOOC's Fujian projects.
ONEOK Partners Sets Open Season for Texas Storage Facility
(Wednesday, June 24, 2009) ONEOK Partners, L.P. announced Wednesday that its subsidiary, ONEOK Texas Gas Storage, L.L.C. (OTGS), is holding a non-binding open-season bidding process for firm intrastate natural gas storage at its Loop, Texas, natural gas storage facility.
LNG / LPG
New Zealand LNG Proposal Off The Table
(Friday, July 03, 2009) One of Taranaki's most controversial energy projects will not be going ahead.
Indonesian Govt Prepares First LNG Shipment from Tangguh
(Thursday, July 02, 2009) The Indonesian government continues to monitor preparations for the first shipment of liquefied natural gas (LNG) from the Tangguh field in Papua scheduled to take place by the end of this month, an energy official said.
Maiden LNG Shipment Reaches Chile Regas Terminal
(Thursday, July 02, 2009) Chile's GNL Quintero, South America's first liquefied natural gas regasification terminal, received its first shipment of LNG, proceeding with its plans to start full operations in August.
Qatar To Supply 1.5M Tonnes LNG To Pakistan
(Tuesday, June 30, 2009) Pakistan's Federal Minister for Investment Senator Waqar Ahmed Khan called on Abdullah Bin Hamed Al-Attya, Deputy Prime Minister Qatar and Minister of Energy and Industry in Qatar, to discuss bilateral investment and trade issues.
Singapore Govt Takes Over Development of First LNG Terminal
(Tuesday, June 30, 2009) The Singapore government said Tuesday it will take over the development of the city-state's first liquefied natural gas (LNG) terminal and has postponed the start of its operations by a year to 2013.
Petrochemical
Hanwha Chemical Starts Work On China PVC Plant
(Friday, July 03, 2009) Hanwha Chemical Corp.(KSE:000880), a South Korean chemical company, said Friday ithas broken ground for a plant to produce polyvinyl chloride(PVC) on China's eastern coast.
Dow Declares Force Majeure for Methyl Acrylate
(Thursday, July 02, 2009) The Dow Chemical Co. announced to its customers on June 30, 2009, that it has declared force majeure for methyl acrylate (MA) to the Company's MA plant in Cangrejera, Mexico.
Eastman Launches Non-phthalate Plasticizer In EU
(Thursday, July 02, 2009) Eastman Chemical Co. on Tuesday announced the EU launch of its new, high solvating, non-phthalate plasticizer, Eastman DBT.
Borouge Awards Linde Ethane Cracker Contract
(Thursday, July 02, 2009) Borouge has awarded a contract worth USD 1.075 billion to The Linde Group to build another 1.5 million tonnes per year (t/y) ethane cracker at its production site in Ruwais, Abu Dhabi, United Arab Emirates.
Dow To Shut Down Ethylene Units In La., Texas
(Wednesday, July 01, 2009) The Dow Chemical Co. announced Wednesday that on June 30, its Board of Directors approved a restructuring plan which calls for the shutdown of a number of manufacturing assets, including ethylene and ethylene-derivative assets.
Commodities
OPEC Sees Crude Price Best at $68 to $71/Barrel
(Friday, July 03, 2009) Angolan Oil Minister and OPEC president Jose Maria Botelho de Vasconcelos said Friday a crude oil price of $68 to $71 a barrel was the best price for a stable industry.
Asian Refiners Seek Relief In Lower Prices
(Friday, July 03, 2009) Asian refiners are looking for some relief in the Middle East crude oil market, hoping major suppliers will reduce their prices in the coming days and ease the pain of weak margins.
CME Group Launches NGL Clearing Services
(Thursday, July 02, 2009) CME Group on Wednesday announced the launch of clearing services for six new physically delivered natural gas liquids futures contracts.
Oil Drops Before US Holiday, Monday May Be Critical Point
(Thursday, July 02, 2009) Crude oil prices fell more than $2 today as July 4 nears and news concerning US unemployment numbers surfaced. Analyst Phil Flynn sees oil prices reaching a critical point, either heading up to $75 or down toward $50 in the next couple of days.
Price Hikes Put China's Oil Demand Recovery At Risk
(Wednesday, July 01, 2009) China's fuel demand has rebounded since hitting a low in January, but an unprecedented double hike in pump prices in a month could derail that recovery if consumers scale back their gasoline and diesel use.
Finance & Acquisition
IPS Acquires Sheehan Pipe Line Construction
(Thursday, July 02, 2009) Integrated Pipeline Services, Inc. (IPS) announced Wednesday that it has completed the acquisition of Sheehan Pipe Line Construction Co., a leading provider of pipeline construction and maintenance services.
KEMA To Acquire Gasunie Engineering & Technology
(Wednesday, July 01, 2009) KEMA and Gasunie have reached a definitive agreement concerning the acquisition of Gasunie Engineering & Technology (GET). KEMA will integrate the division of Gasunie, which consists of approximately 90 people, into its existing gas activities.
SandRidge Divests Midstream Assets
(Wednesday, July 01, 2009) SandRidge Energy, Inc. on Tuesday announced the closing of the two previously announced transactions. Total proceeds of approximately $258 million were used to pay down borrowings from the company's revolving credit facility.
TC PipeLines Acquires North Baja
(Wednesday, July 01, 2009) TC PipeLines, LP (the Partnership) on Wednesday announced it has completed the acquisition of North Baja Pipeline, LLC (North Baja) from TransCanada Corp.
BASF Reorganizes Petchem Division
(Tuesday, June 30, 2009) BASF announced that it is reorganizing its Petrochemicals division effective July 1, 2009.
People on the Move
Columbia Gas Names Fox President
(Wednesday, July 01, 2009) M. Carol Fox has been named president of Columbia Gas of Pennsylvania (CPA) and Columbia Gas of Maryland (CMD). The companies serve approximately 446,000 natural gas customers in 29 counties throughout Pennsylvania and Maryland.
Baker Botts Opens Abu Dhabi Office
(Wednesday, July 01, 2009) Client demand for legal services in the Middle East continues to fuel expansion for Baker Botts L.L.P., prompting the firm to increase its commitment to the region by opening an office in Abu Dhabi -- its third in the Middle East.
Podesta To Succeed Bernstein At BASF
(Wednesday, July 01, 2009) BASF on Tuesday announced that it has appointed
Gerry Podesta as Group Vice President, Polyurethanes, in North America. He
is based in Wyandotte, Michigan.
Carter Succeeds El-Khalidi At Arabian American
(Wednesday, July 01, 2009) Arabian American Development Co. on Wednesday confirmed that as part of the previously announced succession plan, Nicholas Carter has succeeded Hatem El-Khalidi as President and CEO of Arabian American Development effective July 1, 2009.
Spectra Opens Shop In Pittsburgh
(Tuesday, June 30, 2009) Spectra Energy Corp has opened a western Pennsylvania office, located in Pittsburgh, to support its capital development projects, including the proposed Texas Eastern Appalachia to Market (TEAM) expansion program.
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