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Current Downstream Headlines
Refining
Sasol, Shenhua Strengthen Focus On Chinese CTL Feasibility Study
(Thursday, August 28, 2008) Sasol and Shenhua on Thursday announced that they have agreed to focus their full attention on the 80 000 barrels per day CTL feasibility study in the Ningxia Hui Autonomous Region.
Gulf Ethanol Engages Lab To Test Production
(Thursday, August 28, 2008) Gulf Ethanol Corp. announced Wednesday that it has engaged Microbac Laboratories to perform analytical testing on its preprocessed feedstock powders.
Sibir, Gazprom Neft Transfer Moscow Refinery Shares To Dutch Firm
(Thursday, August 28, 2008) Sibir announced that its downstream subsidiary, Moscow Oil and Gas Co. (MOGC), and Gazprom Neft (GPN) have transferred their respective beneficial shareholdings in the Moscow Refinery to Moscow NPZ Holdings B.V.
PetroSun To Acquire ConocoPhillips Retail Sites
(Thursday, August 28, 2008) PetroSun Fuel has signed a definitive agreement to acquire the remaining United States petroleum and convenience store retail assets of ConocoPhillips Co.
Danish Biofuels Pioneer Announces North American Marketing Partnership
(Thursday, August 28, 2008) A Danish biotech spin-off has unveiled the next step in its marketing strategy of partnering with North American biofuels companies and licensing its second-generation cellulosic technology for commercial-scale production of ethanol.
Pipelines
DNV, Partners Developing CO2 Pipeline Standard
(Thursday, August 28, 2008) Det Norske Veritas (DNV), together with major industry partners, is developing a new standard for transportation of CO2 in pipelines.
Enterprise Announces N. Texas Pipeline Expansion
(Thursday, August 28, 2008) Enterprise Products Partners L.P. on Thursday announced that it will construct a pipeline that will transport new supplies of natural gas produced from the Barnett Shale in Tarrant and Denton Counties, Texas to the Sherman Extension pipeline.
Vector Plans Open Season for Proposed Pipeline Expansion
(Thursday, August 28, 2008) Vector Pipeline L.P. and Vector Pipeline Limited Partnership on Thursday announced plans to hold a binding Open Season in September 2008 to secure shipper interest in a third expansion of the Vector Pipeline System.
Buffalo-area Plant Would Convert Coal, Petcoke Into Natural Gas
(Wednesday, August 27, 2008) About a dozen Lackawanna, N.Y., residents got a first glimpse Tuesday of plans for a $1.5 billion plant that would turn coal and petroleum refinery by-products into natural gas.
Enbridge Begins Alberta Clipper Construction
(Wednesday, August 27, 2008) Enbridge Inc. announced Wednesday that construction has commenced on the Canadian portion of the Alberta Clipper Expansion Project.
Terminals & Storage
Buckeye Partners Buys Albany Ethanol Terminal
(Thursday, August 28, 2008) Buckeye Partners, L.P. (the "Partnership") on Thursday announced that its subsidiary, Buckeye Albany Terminal LLC, completed the acquisition of an ethanol and petroleum products distribution terminal located in Albany, N.Y.
Coast Guard Begins Enforcing Nontank Vessel Response Mandates
(Tuesday, August 26, 2008) The U.S. Coast Guard announced Tuesday the beginning of enforcement of the requirements for owners and operators of large cargo vessels to prepare and submit plans for responding to a worst case oil spill from their vessels.
Iraq Suspends Oil Exports To Turkey - Shipper
(Tuesday, August 26, 2008) Iraq suspended Tuesday shipments of Kirkuk crude oil into the Turkish Mediterranean export terminal of Ceyhan for unknown reasons, a Middle East Shipping agent said.
Inergy Acquires US Salt; Will Add 5 Bcf Storage Capacity In NY
(Tuesday, August 26, 2008) Inergy, L.P. announced Tuesday that its wholly owned subsidiary, Inergy Midstream, LLC, has closed the acquisition of US Salt, LLC
PetroChina To Build Tank In Changsha
(Friday, August 22, 2008) PetroChina will build an oil products storage tank in Changsha, central Hunan province, to link with its Lanzhou-Zhengzhou-Changsha oil products pipeline.
LNG / LPG
UPDATE: NT Rejects Reports of Darwin Inpex Project Plan
(Wednesday, August 27, 2008) Northern Territory Treasurer Delia Lawrie has dismissed reports in Western Australia that Darwin has secured the Inpex gas project.
Woodside: Cap And Trade Plan Threatens Browse Project
(Wednesday, August 27, 2008) Woodside Petroleum Ltd on Wednesday said Australia's planned national emissions trading scheme lacked "fiscal certainty" and warned that it could jeopardize a massive liquefied natural gas (LNG) project off the western coast.
Gasol: On Track To Deliver Floating and On-shore LNG Projects
(Wednesday, August 27, 2008) Gasol Plc. said it expects to see significant progress in this financial year, and it remains on track in making progress to deliver one floating liquefied natural gas (LNG) project and one conventional, on-shore LNG project.
UPDATE: Auditors To Probe Indonesia-China LNG Contract
(Wednesday, August 27, 2008) As liquefied natural gas (LNG) prices soar in domestic and global markets to approximately US$20 per mmbtu, Indonesian state auditors are planning to investigate a seven-year-old LNG contract with China where theprice was set at US$3.30 per mmbtu.
WA Opposition Leader Wants Answers On Inpex LNG Project
(Tuesday, August 26, 2008) The Opposition Leader, Colin Barnett, is calling on the Treasurer, Eric Ripper, to come clean on whether Western Australia has lost the support of the Japanese company Inpex to build a LNG plant in the Kimberley.
Petrochemical
Shell's Singapore Chemical Expansion Achieves New Heights
(Thursday, August 28, 2008) Using a crane with the biggest lifting capacity available in Singapore, the tallest column in the Shell Eastern Petrochemicals Complex (SEPC) project's entire infrastructure was safely and successfully lifted into place at the end of July.
ExxonMobil Chemical Starts Up DVA Plant In Pensacola
(Thursday, August 28, 2008) ExxonMobil Chemical has started up a manufacturing facility at its existing site in Pensacola, Fla., that provides new capacity for the production of a new tire material technology that reportedly can improve vehicle fuel efficiency.
Eighteen Dead, Two Missing After SW China Chem Plant Blasts
(Wednesday, August 27, 2008) A series of explosions at a chemical plant left 18people dead and two missing in south-western China's Guangxi region, the government and state media said on Wednesday.
Texas Levies $6.5M In Fines for Releases
(Tuesday, August 26, 2008) The state has ordered two Lyondell Chemical Co. subsidiaries to pay a total of $6.5 million in pollution fines, Texas Attorney General Greg Abbott said Monday.
Construction Set to Begin On Vietnam Petchem Complex
(Tuesday, August 26, 2008) Construction of the southern petrochemical complex at the Long Son Oil and Gas Industrial Zone in Vietnam's southern Ba Ria-Vung Tau province will start on September 25.
Commodities
Inspector General Probing CFTC-led Task Force Report - Source
(Wednesday, August 27, 2008) The inspector general for the U.S. commodity futures regulator has officially begun an investigation into an interagency report on commodity markets, a person close to the matter told Dow Jones Newswires.
Crude Prices Rise On Gustav Threat
(Tuesday, August 26, 2008) Crude prices traded higher Tuesday as Hurricane Gustav continued toward the Gulf of Mexico.
Crude Oil Retains Perch Above $115
(Monday, August 25, 2008) U.S. crude oil futures closed higher Monday after struggling much of the session to stay above $115 a barrel.
Oil Prices Slip Back After Big Gains
(Friday, August 22, 2008) Oil prices slipped back Friday on profit-taking after bumper gains had been won on the deepening crisis between Moscow and the West over the Russian intervention in Georgia, traders said.
Oil Settles Above $121 on Geopolitical Tensions
(Thursday, August 21, 2008) Crude surged more than 5 U.S. dollars a barrel Thursday on geopolitical tensions in Europe and a falling dollar.
Finance & Acquisition
DNV Acquires Jardine Technology
(Thursday, August 28, 2008) DNV, through its commercial software house DNV Software, has acquired Jardine Technology Limited (JTL).
Kinder Morgan Acquires Pipelines from Knight
(Thursday, August 28, 2008) Kinder Morgan Energy Partners, L.P. (KMP) on Thursday announced it has acquired two pipeline systems from Knight Inc., the private entity which owns the general partner of KMP.
Buckeye Partners Buys Albany Ethanol Terminal
(Thursday, August 28, 2008) Buckeye Partners, L.P. (the "Partnership") on Thursday announced that its subsidiary, Buckeye Albany Terminal LLC, completed the acquisition of an ethanol and petroleum products distribution terminal located in Albany, N.Y.
PetroSun To Acquire ConocoPhillips Retail Sites
(Thursday, August 28, 2008) PetroSun Fuel has signed a definitive agreement to acquire the remaining United States petroleum and convenience store retail assets of ConocoPhillips Co.
Inergy Acquires US Salt; Will Add 5 Bcf Storage Capacity In NY
(Tuesday, August 26, 2008) Inergy, L.P. announced Tuesday that its wholly owned subsidiary, Inergy Midstream, LLC, has closed the acquisition of US Salt, LLC
People on the Move
DCP Names New Finance Chief
(Thursday, August 28, 2008) DCP Midstream GP, LLC, the general partner of DCP Midstream Partners, LP, or the Partnership, announced the appointment of Angela A. Minas to the position of vice president and chief financial officer effective Sept. 8, 2008.
O'Connor To Succeed Fowler As DCP's Chairman
(Thursday, August 28, 2008) DCP Midstream GP, LLC, the general partner of DCP Midstream Partners, LP, or the Partnership, announced the appointment of Thomas C. O'Connor as chairman of its board of directors, replacing Fred J. Fowler effective September 1, 2008.
Fluor Opens New Alaska Office
(Tuesday, August 26, 2008) Fluor Corp. announced Tuesday the opening of its Alaska office in Anchorage to support projects in the region.
Genesis Adds Deere To Senior Management Team
(Tuesday, August 26, 2008) Genesis Energy, L.P. on Tuesday announced the appointment of a new senior officer for Genesis. Robert (Bob) V. Deere was appointed Executive Vice President & Chief Financial Officer.
ADL Taps Dvorocsik To Lead Americas Chemicals Practice
(Tuesday, August 26, 2008) Arthur D. Little (ADL) announced that Andy Dvorocsik has joined Arthur D. Little's North America Chemicals Practice as the firm's Director for The Americas.
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