Saudi's SABIC, Shell Shelve Petchem Plant Expansion in Jubail

Thursday, October 23, 2014 The expansion would have added capacity for polyols, propylene oxide and styrene monomer.
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Outlook & Insights
COLUMN-History of Controls on U.S. Oil Exports
(Thursday, October 23, 2014) Following the U.S. mid-term elections next month, Congress will take up the issue again, a debate that would benefit from an understanding of the history behind the ban.

EU Leaders Divided Over Costs As Climate Talks Begin
(Thursday, October 23, 2014) European leaders met on Thursday to forge energy policy to cut climate-warming gas emissions in the years to 2030, but haggled over how to share out the costs of a deal.

Wood Mackenzie: US to Achieve Energy Independence by 2025
(Thursday, October 23, 2014) The US will achieve energy independence by 2025, which will mark the first time since 1952 that the US will export more energy than it imports, according to an integrated outlook by Wood Mackenzie’s Global Trends Service.

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.

Refining
Malaysia EPC Contract Goes to Fluor-Technip JV
(Thursday, October 23, 2014) Under the contract, the Fluor and Technip joint venture will be responsible for the utilities, interconnecting and offsites scope of work for the Petronas Refinery and Petrochemical Integrated Development project.

PetroIneos Importing More W.African Crude Oil to UK's Grangemouth
(Thursday, October 23, 2014) PetroIneos is ramping up imports of West African crude to its Grangemouth refinery in Scotland, according to shipping fixture.

Husky Energy Ups Price Tag of Sunrise Oil Sands Project to C$3.2 Billion
(Thursday, October 23, 2014) Canada's No. 3 integrated oil and gas producer Husky Energy Inc raised cost estimates on its new Sunrise oil sands project by nearly 19 percent to C$3.2 billion as it reported third quarter earnings on Thursday.

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.

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
Saudi's SABIC, Shell Shelve Petchem Plant Expansion in Jubail
(Thursday, October 23, 2014) The expansion would have added capacity for polyols, propylene oxide and styrene monomer.

Westlake to Add Ethylene Capacity in Lake Charles
(Thursday, October 23, 2014) In addition to the 480 employee and 115 core contractor jobs that will be retained at the site, Westlake will add an additional 25 new direct jobs. This expansion is expected to create an estimated 1,000 construction jobs at peak activity.

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.

Pipelines
1 Killed, 11 Injured in German Gas Pipe Explosion
(Thursday, October 23, 2014) Authorities say one person was killed and 11 were injured in an explosion after a gas pipe was damaged during construction work in a western German city.

Canada Regulator Says Kinder Morgan Wins Battle with B.C. Suburb
(Thursday, October 23, 2014) Canada's energy regulator ruled on Thursday that Kinder Morgan Energy Partners LP must be allowed access to a park in a Vancouver suburb to complete technical work for the planned expansion of its Trans Mountain oil pipeline.

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.

Terminals & Storage
Poland Shows Russia It Too Can Play Hardball Over Gas
(Thursday, October 23, 2014) When Poland last month accused Russian natural gas exporter Gazprom of denying it the supplies it wanted, something did not quite add up: Poland did not need all the gas it was asking for and would have had nowhere to put it.

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.

LNG / LPG
BG Seeks Revival of Egypt LNG Business with BP Deal
(Thursday, October 23, 2014) BG Group is in talks with BP to link their two gas developments off Egypt's coast, as part of BG's drive to breathe life into its gas-starved export plant, sources familiar with the matter said.

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.

Commodities
U.S. Warns of Sanctions on Buyers of Islamic State Oil
(Thursday, October 23, 2014) The Obama administration on Thursday threatened to slap sanctions on anyone buying oil from Islamic State militants in an effort to disrupt what it said was a $1-million-a-day funding source.

Saudi Arabia Supplies Less Oil in September Despite Output Rise
(Thursday, October 23, 2014) Saudi Arabia supplied less crude oil to the market in September than a month earlier, an industry source said on Thursday, at a time when some OPEC members are calling on the top oil exporter to cut back output to lift prices.

Brent Up Almost 3%, Biggest Gain Since June, On Reported Saudi Cut
(Thursday, October 23, 2014) Brent crude oil jumps nearly 3%, its most in over four months, after an industry source says Saudi Arabia cut output in September following the summer's tumble in prices.

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.

Finance & Acquisition
Higher Refining Margins Help Poland's PKN Beat Profit Forecasts
(Thursday, October 23, 2014) Higher refining margins due to lower oil prices helped Poland's largest refiner, PKN Orlen , beat market forecasts with its third-quarter net profit and stave off the threatened closure of its Lithuanian unit.

Phillips 66 Partners to Acquire Linden, Ferndale Rail-unloading Facilities
(Thursday, October 23, 2014) Phillips 66 Partners LP has reached an agreement to acquire from Phillips 66 two newly constructed crude oil rail-unloading facilities, located in Linden, New Jersey, and Ferndale, Washington, for $330 million.

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.

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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