British Columbia Sets New LNG Income Tax at 3.5 Pct

Wednesday, October 22, 2014 British Columbia on Tuesday unveiled its long-awaited LNG tax legislation, which is expected to pass before the end of November.
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Outlook & Insights
COLUMN-Congressional Study Questions Embargo-era Policies
(Tuesday, October 21, 2014) Lifting restrictions on U.S. crude oil exports could actually lower fuel prices for U.S. motorists and other consumers by contributing to a drop in world oil prices, according to a report from an influential congressional watchdog.

U.S. Natgas Engine Sales Lagging Fuel's Steep Price Plunge
(Monday, October 20, 2014) Natural gas-fueled engines, touted as a clean, low-cost alternative to diesel, continue to struggle for acceptance in the U.S. transportation sector despite a surge in gas production that has sent the alternative fuel's domestic price plunging.

China Utility Aims to Triple Gas Power Plants by 2020 - Industry Paper
(Monday, October 20, 2014) Power generation will be one of the key drivers for China's gas demand surge over the next two decades, experts have forecast, as the government tries to curb the country's heavy dependence on dirtier coal.

COLUMN-EU Wants Market-led Response to Any Russian Gas Crisis
(Friday, October 17, 2014) Cooperation and relying as much as possible on the market would benefit everyone.

A Primer on the Industrial Internet for Downstream
(Friday, October 17, 2014) The Industrial Internet could help refineries and petrochemical plants run more efficiently, safely and economically.

Refining
ExxonMobil Awards Antwerp EPC Contract to Foster Wheeler
(Wednesday, October 22, 2014) The value of Foster Wheeler's engineering, procurement and construction (EPC) contract for the Antwerp Northwest Europe Resid Upgrade Project - Revamp and Offsites facilities was not disclosed.

Venezuela's PDVSA to Invest $20 Bln to Boost Refining Capacity
(Wednesday, October 22, 2014) Venezuelan state oil company PDVSA plans to invest $20 billion to expand its domestic refining capacity by 20 percent, a company official said on Wednesday.

U.S. Crude Inventories Jump for Second Week As Refining, Imports Ebb
(Wednesday, October 22, 2014) U.S. crude stocks last week surged far more than expected for a second week in a row as refineries cut output and imports slipped, while fuel inventories were mixed, data from the Energy Information Administration showed on Wednesday.

Russian Oil Refining Margin Seen Falling to $20 Per Tonne in 2015
(Wednesday, October 22, 2014) Russian Deputy Finance Minister Sergei Shatalov told reporters on Wednesday that oil refining margin, a key measure of profitability, would fall to $20 per tonne in 2015 from $50 currently.

PES to Begin Operating Benzene Terminal in Nov -Sources
(Tuesday, October 21, 2014) Philadelphia Energy Solutions plans to start operating a new benzene offtake terminal next month at its 335,000-barrel-per-day refinery in Philadelphia, two people familiar with the plans said.

Biofuels
Boeing and Chinese Partner to Make Jet Fuel from 'Gutter Oil'
(Wednesday, October 22, 2014) Gutter oil - a form of cooking waste - has long been a public health concern in China due to its widespread use in restaurants.

Platts Says Not Charged with Wrongdoing After EU Ethanol Trade Raids
(Monday, October 20, 2014) Platts has not been charged with wrongdoing in connection with European Union antitrust regulator raids on ethanol trading companies, a spokeswoman for the energy pricing agency said on Monday.

Abengoa Opens Commercial-scale Cellulosic Ethanol Plant in Kansas
(Friday, October 17, 2014) The Hugoton plant opening marks the first-ever commercial deployment of Abengoa's proprietary enzymatic hydrolysis technology, which turns biomass into fermentable sugars that are then converted to ethanol.

As Japan Eyes Nuclear Restarts, Renewables Get Shut Out of Grid
(Friday, October 17, 2014) Japan's biggest utilities are blocking most new solar and other renewable energy from transmission grids, stirring concern among green power advocates that Japan favors restarting idled nuclear plants at the expense of other fossil-free supply.

Brazil's Neves Closing Campaign Cash Gap Thanks to Banks and Ethanol
(Thursday, October 16, 2014) A late injection of campaign cash is helping business-friendly opposition candidate Aecio Neves push Brazil's presidential runoff against incumbent Dilma Rousseff down to the wire, eroding her huge fundraising advantage.

Petrochemical
Private Equity Eyes $13 Bln Bayer Plastics Business - Sources
(Wednesday, October 22, 2014) Private equity firms are circling Bayer's 10 billion-euro ($12.7 billion) plastics business, hoping to divert the German drugmaker from its plan to list the division, two people familiar with the matter said on Wednesday.

Dow Chemicals to Cut $1 Billion in Costs Over 3 Years
(Wednesday, October 22, 2014) Dow Chemical Co, the No. 1 U.S. chemical maker by sales, said it was looking to cut fixed costs by $1 billion over the next three years, building on reductions that have helped boost margins.

Asian Naphtha Imports to Stay High for 3rd Month, Adding to Glut
(Monday, October 20, 2014) Asia is set to import about 1.6 million tonnes of naphtha from the West in November, traders said on Monday, exacerbating a glut of the fuel that has already pummeled its prices in the region.

Japan Sep Petchem Naphtha Imports Rise 5.3 Pct y/y
(Friday, October 17, 2014) Japan's naphtha imports for the petrochemical sector rose 5.3 percent in September from the same month a year earlier, government figures showed on Friday.

Chemtura Expands Antioxidant Capacity for Auto Industry Demand Growth
(Friday, October 17, 2014) By 2015, the company will increase capacity at its Elmira, Ontario, Canada site by 20%, its Latina, Italy site by 25% and its Kaohsiung, Taiwan site by 10%.

Pipelines
Saudi Aramco Gives Pipeline Contract to China's SEPCO
(Wednesday, October 22, 2014) Saudi Aramco has contracted a Chinese group for a project to help expand the capacity of the main gas pipeline across Saudi Arabia, which dates back to the 1970s, aiming to improve energy supply to industries in the west of the country.

Kinder Morgan Canada Pipeline Plan Hits A Mountain of Opposition
(Tuesday, October 21, 2014) The pipeline expansion had been seen as sure bet because it uses an existing route, but a surge in municipal opposition in recent months has fueled industry worries.

A Year Later, Cleanup Still Going for ND Oil Spill
(Tuesday, October 21, 2014) One year after a pipeline rupture flooded a wheat field in northwestern North Dakota with more than 20,000 barrels of crude, Tesoro Corp. is still working around the clock cleaning up one of the largest onshore oil spills in U.S. history.

Magellan Midstream Extends Open Season for Saddlehorn
(Tuesday, October 21, 2014) The proposed Saddlehorn Pipeline includes construction of an approximate 600-mile, 20-inch diameter pipeline capable of transporting up to 400,000 barrels per day of crude oil from Platteville, Colo., to Cushing, Okla.

Israel's Tamar Group Looks to Sell Gas to Egypt via EMG Pipeline
(Monday, October 20, 2014) The partners in Israel's offshore Tamar gas field said on Sunday they are negotiating the sale of at least 5 bcm of gas over three years to private customers in Egypt via an old pipeline built to send gas in the other direction.

Terminals & Storage
U.S. Crude Inventories Jump for Second Week As Refining, Imports Ebb
(Wednesday, October 22, 2014) U.S. crude stocks last week surged far more than expected for a second week in a row as refineries cut output and imports slipped, while fuel inventories were mixed, data from the Energy Information Administration showed on Wednesday.

PES to Begin Operating Benzene Terminal in Nov -Sources
(Tuesday, October 21, 2014) Philadelphia Energy Solutions plans to start operating a new benzene offtake terminal next month at its 335,000-barrel-per-day refinery in Philadelphia, two people familiar with the plans said.

U.S. to Study Petroleum Reserve in Light of Climbing Output
(Tuesday, October 21, 2014) U.S. officials will examine how to boost efficiency of the Strategic Petroleum Reserve (SPR) now that domestic energy production is booming, according to a letter from a Department of Energy official.

Venezuela's PDVSA Puts Six Tankers Up for Sale
(Friday, October 17, 2014) Venezuelan state oil company PDVSA said on Friday it is selling four crude tankers and two liquid petroleum gas (LPG) tankers that are currently inactive, amid a broader plan to modernize its fleet.

Suncor Crude Tanker to Resume Journey from Quebec to Gulf Coast
(Friday, October 17, 2014) A tanker chartered by Canada's Suncor Energy Inc to ship oil sands crude from Quebec to the U.S. Gulf Coast was expected to receive replacement parts on Friday, enabling it to resume its journey, a Transport Canada spokeswoman said.

LNG / LPG
British Columbia Sets New LNG Income Tax at 3.5 Pct
(Wednesday, October 22, 2014) British Columbia on Tuesday unveiled its long-awaited LNG tax legislation, which is expected to pass before the end of November.

BP Awards FEED Contracts for Tangguh Expansion Project
(Wednesday, October 22, 2014) BP awards two consortia with contracts for onshore FEED work at its Tangguh Expansion Project in Indonesia.

Angola LNG Delays Plant Restart Until Late 2015 As Repairs Go On
(Wednesday, October 22, 2014) The restart of Angola's LNG export plant has been delayed until late 2015 from an original mid-year target after the facility was shut earlier this year due to mechanical problems, a project spokesman said.

Poland Eyes Expanding LNG Terminal to Increase Energy Security
(Tuesday, October 21, 2014) Poland plans to expand a new liquefied natural (LNG) gas terminal aimed at bolstering energy security and easing dependence on Russian supplies, the chief executive of gas utility PGNiG said on Tuesday.

Weak Oil Threatens US Export of LNG, Leaving Asian Buyers Stranded
(Tuesday, October 21, 2014) Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have already invested billions of dollars in long-term contracts.

Commodities
Oil Dives After Big US Weekly Crude Stock Build
(Wednesday, October 22, 2014) Oil prices fall sharply, with US crude approaching $80 a barrel after data shows a second big jump in weekly US crude stockpiles.

Weak Oil Threatens US Export of LNG, Leaving Asian Buyers Stranded
(Tuesday, October 21, 2014) Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have already invested billions of dollars in long-term contracts.

Oil Ends Up After China Demand News, Fragile Recovery Seen
(Tuesday, October 21, 2014) Brent crude oil ends up almost 1%, helped by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling.

India Fuel Reform Puts Diesel Under Market Control
(Monday, October 20, 2014) India freed diesel prices from government control Sunday while raising natural gas tariffs in the biggest-yet reform by Prime Minister Narendra Modi's government, as it aims to boost the country's economy and overhaul its energy sector.

Saudi August Oil Exports Fall to Lowest in Three Years
(Monday, October 20, 2014) Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, official data showed on Monday, as the top oil exporter fights for market share amid weak demand and ample supplies from rival producers.

Finance & Acquisition
Private Equity Eyes $13 Bln Bayer Plastics Business - Sources
(Wednesday, October 22, 2014) Private equity firms are circling Bayer's 10 billion-euro ($12.7 billion) plastics business, hoping to divert the German drugmaker from its plan to list the division, two people familiar with the matter said on Wednesday.

Dow Chemicals to Cut $1 Billion in Costs Over 3 Years
(Wednesday, October 22, 2014) Dow Chemical Co, the No. 1 U.S. chemical maker by sales, said it was looking to cut fixed costs by $1 billion over the next three years, building on reductions that have helped boost margins.

Saudi Arabia's Advanced Petrochemical Plans Sukuk Investor Meetings
(Wednesday, October 22, 2014) Saudi Arabia's Advanced Petrochemical Co. will begin meeting investors from Sunday ahead of a potential sale of a sukuk denominated in riyals, it said on Wednesday.

Russian Oil Refining Margin Seen Falling to $20 Per Tonne in 2015
(Wednesday, October 22, 2014) Russian Deputy Finance Minister Sergei Shatalov told reporters on Wednesday that oil refining margin, a key measure of profitability, would fall to $20 per tonne in 2015 from $50 currently.

Total CEO Killed in Moscow Runway Crash
(Tuesday, October 21, 2014) Christophe de Margerie, the charismatic CEO of Total SA who helped establish the multinational oil company as one of the world's biggest, was killed at a Moscow airport when his private jet collided with a snowplow.

People on the Move
Total Names Refining Boss to Replace de Margerie
(Wednesday, October 22, 2014) Total has appointed refining head Patrick Pouyanne as chief executive and former CEO Thierry Desmarest as non-executive chairman.

Saudi's Sipchem Blames Plant Shutdowns for Q3 Net Profit Drop
(Tuesday, October 21, 2014) Saudi International Petrochemical Co (Sipchem) blamed plant shutdowns as it reported a 13.3 percent drop in third-quarter net profit on Tuesday that missed analysts' forecasts.

International Gas Union Picks KOGAS CEO As President for 2018-21
(Friday, October 17, 2014) The International Gas Union (IGU) has elected the chief executive of state-run South Korea Gas Corp (KOGAS) as its president for 2018-2021, the IGU said on Friday.

Apache's CFO Resigns After Eight-month Stint
(Tuesday, October 14, 2014) Apache, which plans to update investors on its North American operations at a meeting on November 20, previously announced plans to sell or spin off its international assets and its stakes in two LNG projects.

OMV CEO Roiss to Go in Mid-2015 in Management Revamp
(Tuesday, October 14, 2014) OMV Chief Executive Gerhard Roiss will leave the Austrian energy group nearly two years ahead of schedule as part of a management shakeup that will also see OMV's gas business subsumed into its refining and marketing division.






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