Americas
EIA: US crude draws down, products build as refiners ramp up
(Reuters) -- US crude stockpiles fell last week despite a hefty build at the Cushing, Oklahoma hub while gasoline and distillate inventories rose as refining rates picked up, the US Energy Information Administration said on Wednesday.
McKinsey report forecasts global refining capacity growth to exceed demand until 2020
LONDON, UK -- McKinsey Energy Insights (MEI), the data and analytics specialist that provides distinctive insight and support to the global energy industry, forecasts that until 2020, global refining will move towards lower utilization and margins as capacity growth exceeds demand. Post-2020 market conditions are expected to improve with higher demand for distillates due to marine pollution (MARPOL) regulations.
PDVSA seeks fuel imports as refineries struggle
CARACAS/HOUSTON (Reuters) -- Venezuela's largest refineries were operating below half capacity this week, prompting state-run oil company PDVSA to launch tenders for product imports amid the OPEC country's deteriorating infrastructure and ebbing crude production.
Delek Refining to use Honeywell services to ‘improve refinery performance’
DES PLAINES, Ill. -- Honeywell announced that Delek Refining, Inc. will use a new Industrial Internet of Things (IIoT)-based Connected Performance Services (CPS) at its refinery in Tyler, Texas.
CB&I launches new program to train and hire veterans
THE WOODLANDS, Texas -- CB&I launched the CB&I Craft Development Program for Industrial Electricians, which is part of the company’s long-standing commitment to supporting veterans. CB&I has partnered with Central Louisiana Technical Community College’s (CLTCC) Lamar Salter Campus and Fort Polk, a U.S. Army installation in Louisiana, to train active duty military for careers in the industrial electrical field.
Alberta petrochemical projects get $378 MM royalty credits
CALGARY, Alberta (Reuters) -- The Canadian oil-producing province of Alberta will offer $377.84 million in royalty credits to Pembina Pipeline Corp and Inter Pipeline Ltd for their petrochemical projects, the government said on Monday as it seeks to diversify its ailing economy.
US Army denies DAPL easement, AFPM responds to decision
HOUSTON (Reuters) -- The US Army's denial of an easement for the Dakota Access Pipeline, after permitting and legal obligations were followed, sets an uncertain precedent for new projects despite President-elect Donald Trump's promise to support energy infrastructure.
Venezuela's PDVSA seeks compensation in 'staggering' US bribe case
(Reuters) -- A unit of Venezuela's state-run oil company PDVSA has asked a US court to order two businessmen to compensate it for carrying out a "staggering" bribery scheme that cost the company $600 million in losses.
Sturgeon Refinery project nears completion of phase one in Canada
OTTAWA -- Phase one of the Sturgeon Refinery, which will process bitumen and produce primarily diesel fuel in Alberta, is nearing completion. The project shows that additional economic value can be generated within the province, according to a Conference Board of Canada report, “Is There Value in Adding Value?” an assessment of the Sturgeon Refinery.
Irving Oil announces expansion of its terminal network in Nova Scotia
HALIFAX -- Irving Oil announced that it has entered into a purchase agreement to acquire four inland storage facilities in Nova Scotia from Valero Energy Inc.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
