Americas
US oil, gasoline demand slips to near four-year low
Total petroleum demand for the year to date was down 2.3%, according to the API. Gasoline demand fell more, down 2.2% from June and down 3.8% from July a year ago to hit the lowest July level since 1997. Despite weakening demand, refinery production remained strong.
US chemical activity index nudges higher in August
The American Chemistry Council's chemical activity barometer grew by 0.4% from July and 1.1% from August 2011, reflecting gradual economic growth and several positive US industry trends. The CAB is a leading economic indicator derived from a composite index of chemical industry activity.
Pipeline repair company NRI opens Texas sales, distribution office
The new office expands NRI’s commitment to servicing the US Gulf region with same-day material availability, extensive product inventory, delivery services, job assessment services, and ASME qualified product training classes, the company said. Investment terms were not disclosed.
EPA opens review into US corn ethanol mandate
The Environmental Protection Agency said it received formal requests from the governors of Arkansas and North Carolina to ease the renewable-fuel standard, triggering a 90-day review that could lead to the agency's first-ever decision to reduce or waive the mandate.
Canada newspaper owner proposes $13bn refinery
David Black, owner of the British Columbia community newspaper chain Black Press, said the refinery built near Kitimat would process crude oil from Enbridge’s Northern Gateway pipeline into refined products, including gasoline, diesel and aviation fuel. The refinery would process 550,000 bpd of oil.
Honeywell develops fuel-saving flight management software for airliners
Some estimates place potential benefits at as much as 3% in savings on reduced fuel use. Others project as much as $200,000 in annual savings per plane while cruising long oceanic routes. United Continental Holdings is running demonstration flights to verify such estimates.
ExxonMobil, Qatar Petroleum look to export US LNG
After years of fretting about natural gas scarcity and spending billions constructing gas import terminals, energy companies now hope to turn the US into a major exporter.
US appeals court rejects industry challenge to EPA ethanol blend decision
Trade groups representing the oil and auto industries had challenged the decision. Bob Greco, downstream director at the American Petroleum Institute, said it is "astounding that the court does not accept that refiners, who must comply with the ethanol mandate, have standing to bring this case."
A Schulman acquires US compounder ECM Plastics
The deal is valued at $36.5 million and should close in September. "With ECM’s expertise in custom color matching, higher-value compounding and specialty additive formulations, we believe they are an excellent strategic fit as we continue to focus on niche products," said Joseph M. Gingo, Schulman CEO.
Novozymes pressured by weak US biofuels market
Bioethanol production and profitability has been hampered by the drought in the US, which has pushed up the prices for corn, the main ingredient in the production of biofuel. Additional pressure has been added by a decline in overall fuel consumption in the US, the Novozymes executive said.
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- SWISS becomes world’s first airline to integrate Synhelion solar fuel into its flight operations 7/24
- Finland's Neste tops earnings forecast on soaring SAF sales 7/24
- Shell restarts hydrodesulphurization unit at Pernis oil refinery after unplanned outage 7/24
- Orlen's Unipetrol will start commissioning ethylene unit after power outage experienced earlier in July 7/24
- Dow forecasts sales below estimates, slashes dividend as downturn takes a toll 7/24
