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Current Downstream Headlines
Refining
CB&I Wins Contract for Sulfur Processing Complex
(Thursday, July 24, 2008) CB&I has been awarded a contract in excess of US$100 million by a major North American refiner to design and build a sulfur processing complex.
Refiners Face GHG Challenges
(Thursday, July 24, 2008) Refineries across the U.S. are expanding, but regulations on the fuel producers are tightening, threatening to slow further moves to boost U.S. fuel supplies.
OPINION: Chavez Falls for Chinese Ploy
(Thursday, July 24, 2008) A little-noticed piece of news: A few weeks ago, Venezuela announced an agreement with PetroChina to build a large refinery in Guangdong Province capable of refining Venezuela's unique, heavy oil.
Brazil, Trinidad-Tobago To Assess Refinery Projects
(Thursday, July 24, 2008) Brazilian President Luiz Inacio Lula da Silva and Trinidad and Tobago's Primer Minister Patrick Manning signed an agreement on Wednesday, calling for oil companies in both countries to cooperate on E&P and to study refining opportunities.
Albemarle To Supply Catalyst for Neste Renewable Diesel Process
(Wednesday, July 23, 2008) Albemarle Corp. has been awarded a multi-year order from Neste Oil Oyj, Finland to produce catalysts made exclusively for Neste for use in their NExBTL renewable diesel process.
Pipelines
Fate Of Alaska Gas Pipeline Rests with State Senate
(Thursday, July 24, 2008) The fate of a multibillion dollar pipeline that could unlock 4.5 billion cubic feet of North Slope gas reserves daily and power North American homes and businesses for decades now rests in the hands of 20 Alaska state senators.
Keeping the Oil Flowing When Russia Gets Upset
(Thursday, July 24, 2008) This month, the Czechs discovered the beauty of sovereignty.
GAIL, Bharat Sign MoU for Natural Gas Transmission
(Thursday, July 24, 2008) State-run GAIL (India) Ltd. said it has signed a memorandum of understanding (MoU) with Bharat Petroleum Corp. Ltd. (BPCL) to transmit and distribute natural gas.
Alaska House Approves TransCanada Gasline Plan
(Wednesday, July 23, 2008) Members of the House of Representatives voted late Tuesday to approve an exclusive state license for a Canadian energy company proposing to build a natural gas pipeline down the Alaska Highway to Alberta.
Exec Sees One-year Delay for Nord Stream
(Wednesday, July 23, 2008) Completion of the controversial Nord Stream gas pipeline under the Baltic Sea is likely to be delayed by one year from 2011 to 2012, a German executive working on the Russian-led project said Wednesday.
Terminals & Storage
Wood Group To Upgrade BP Onshore Terminal
(Thursday, July 24, 2008) Wood Group Engineering (North Sea) Ltd, part of John Wood Group PLC ("Wood Group"), has been awarded a contract by BP to design and install a new gas processing plant at BP's Sullom Voe Terminal (SVT).
UPDATE: Miss. River Closed from New Orleans To Gulf
(Thursday, July 24, 2008) A catastrophic oil spill resulting from a tanker collision stretched about 100 miles from New Orleans to the mouth of the Mississippi River, officials say.
Effort To Release Oil from SPR Dies In House
(Thursday, July 24, 2008) House Republicans have killed a Democratic effort to release 70 million barrels of oil from the government's emergency stockpile.
New US Law Targets Emissions from Ships' Diesel Engines
(Wednesday, July 23, 2008) With the president's July 21 signature of the Maritime Pollution Protection Act of 2008, U.S. agencies are setting course to implement a key international agreement to reduce air pollution from large ships.
Tugboat, Tanker Collide At New Orleans
(Wednesday, July 23, 2008) The Coast Guard says 29 miles of the Mississippi River at New Orleans are closed after a tugboat pushing a barge and a 600-foot tanker crashed, causing diesel to leak into the water.
LNG / LPG
Korea Gas To Pay Record Price for Indonesian LNG
(Thursday, July 24, 2008) Korea Gas Corp (Kogas) has agreed to buy liquefied natural gas (LNG) from the Tangguh project at the record price of USD 20 per million British thermal units (mmbtu).
Gas Natural To Negotiate LNG Purchase from Qatargas
(Thursday, July 24, 2008) Gas Natural said on Thursday that it will negotiate with Qatar's Qatargas over the purchase from the latter of 5 billion cubic meters of liquefied natural gas (LNG) in medium- and long-term contracts. tf.TFN-Europe_newsdes
Petrofac Responds To Sonatrach's Gassi Touil Move
(Wednesday, July 23, 2008) Sonatrach on Tuesday announced that it has commenced discussions with the second-lowest bidder for the contract to build the Gassi Touil LNG plant in Arzew, Algeria. Last week, Petrofac/IKPT had been confirmed as the lowest bidder.
MARAD To Host Deepwater Port Licensing Workshop
(Wednesday, July 23, 2008) The Maritime Administration will conduct a Deepwater Port Licensing Workshop on September 10, 2008. The workshop will focus on the licensing requirements of the Deepwater Port Act of 1974, as amended (DWPA).
Sonatrach Rejects Petrofac/IKPT Bid for LNG Plant
(Wednesday, July 23, 2008) Algeria's national oil company Sonatrach said it rejected the bid by the British-Indonesian consortium Petrofac/IKPT to build the 2.4 billion euros Gassi Touil LNG plant in the industrial area in Arzew.
Petrochemical
European Food Safety Authority: BPA Is Safe
(Thursday, July 24, 2008) The American Chemistry Council (ACC) noted Wednesday that the European Food Safety Authority (EFSA) has reaffirmed the safety of bisphenol A (BPA) in common consumer products such as baby bottles, water bottles and food containers.
SCG-Dow Forms JV To Build Thailand Elastomers Plant
(Wednesday, July 23, 2008) A joint venture of The Dow Chemical Company (Dow) and Siam Cement Group (SCG) announced Monday that it has established a 50/50 joint venture to begin constructing a specialty elastomers train located in Rayong Province, Thailand.
China Forms Oversight Body for Coal-chemical Industry
(Tuesday, July 22, 2008) The China Petrochemical Industry Association has launched a new body, named the Coordinating Work Committee of the New Coal-Chemical Industry, to coordinate the development of the coal-chemical industry.
Sasol Wax To Expand Hydro-treating Capacity In Germany
(Thursday, July 17, 2008) Sasol Wax, the leading producer and marketer of synthetic and petroleum-derived wax, announced that it is expanding hydro-treating capacity for paraffin waxes at its Hamburg plant in Germany.
BASF To Double Oxidized Wax Capacity At Ludwigshafen
(Thursday, July 17, 2008) In the fourth quarter of 2008, BASF will begin construction of a second oxidizing plant for the production of synthetic waxes at its Ludwigshafen, Germany, site.
Commodities
Oil Futures Market Settles Into Lower Range
(Thursday, July 24, 2008) A record downturn has shaken the oil futures market from its lengthy quest to push prices to new record highs.
US Gasoline Stocks Rise, Crude Falls - EIA
(Wednesday, July 23, 2008) U.S. gasoline stocks rose 2.9 million barrels, exceeding analysts' expectations, while crude stocks declined by 1.6 million barrels, more than double analysts' expectations, the U.S. government reported Wednesday.
Medvedev: Gas Cartel Still A Possibility
(Tuesday, July 22, 2008) Russian President Dmitri Medvedev said on Tuesday the creation of a gas cartel along the lines of OPEC remains an option.
API: US Oil Demand Fell 'Significantly' In First Half of 2008
(Friday, July 18, 2008) U.S. oil demand was significantly down for the first six months of 2008. Deliveries of all oil products, a measure of demand, fell 3.0 percent compared with the same first-half-year period in 2007, with gasoline deliveries slipping 1.7 percent.
Asia Oil Demand Growth Still Strong, Fraying At Edges
(Thursday, July 17, 2008) Asia's fast-rising emerging economies such as China and India may have been singled out as pillars that will shore up global energy use in the face of record oil prices, but fissures caused by demand destruction are forming elsewhere in the region.
Finance & Acquisition
Suncor Posts Higher Q2 Profit
(Thursday, July 24, 2008) Suncor Energy Inc. on Thursday reported second quarter 2008 net earnings of $829 million ($0.89 per common share), compared to $738 million ($0.80 per common share) for the second quarter of 2007.
Duncan's Q2 Earnings Rise
(Thursday, July 24, 2008) Duncan Energy Partners L.P. on Thursday announced its financial and operating results for the three and six months ended June 30, 2008 and 2007.
SemGroup To Use Cash Collateral for Post-Chapter 11 Obligations
(Thursday, July 24, 2008) SemGroup, L.P. announced Wednesday that it has received Bankruptcy Court approval of its essential initial motions requesting relief, including authorization to use cash collateral.
Enterprise Reports Record Second Quarter
(Thursday, July 24, 2008) Enterprise Products Partners L.P. (EPD) on Thursday announced its financial results for the three and six months ended June 30, 2008.
Dow Chemical Reports Lower Quarterly Earnings
(Thursday, July 24, 2008) Dow Chemical Co. said Thursday that despite record sales and two double-digit price increases unveiled in the second quarter, its profit for the period fell 27 percent, in large part because of sharply higher costs for energy and raw materials.
People on the Move
Sunoco Logistics Appoints New Controller
(Thursday, July 24, 2008) Sunoco Logistics Partners L.P. on Wednesday announced the appointment of Michael D. Galtman as Corporate Controller and Chief Accounting Officer.
Fluor Opens Singapore Office
(Wednesday, July 23, 2008) Fluor Corp. announced Tuesday that it is expanding its presence in southeast Asia with a new and expanded operations office in Singapore.
Skurla To Lead DuPont Danisco Cellulosic Ethanol JV
(Tuesday, July 22, 2008) DuPont Danisco Cellulosic Ethanol LLC (DDCE) has appointed Joseph R. Skurla as president to lead the joint venture's development and commercialization of low-cost cellulosic ethanol technologies that utilize non-food feedstocks.
Billings, McNair Join Crosstex
(Monday, July 21, 2008) Crosstex Energy, L.P. (the Partnership) on Monday announced that Frank Billings has joined Crosstex as Senior Vice President of Commercial and Stephen McNair has joined the company as Senior Vice President of Business Development.
ONEOK Announces Officer Appointments
(Friday, July 18, 2008) ONEOK, Inc. has named two new officers at its Texas Gas Service division.
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