Americas
Delta Air looks at buying ConocoPhillips refinery
Burdened by the soaring cost of jet fuel, Delta is thinking of making some of its own by acquiring the idled 185,000 bpd Trainer refinery near Philadelphia, sources say.
Flint Hills to shut down Alaska refinery crude unit amid poor margins
Flint Hills Resources said Wednesday poor refining economics were forcing it to suspend operations at a major fuel processing unit and lay off staff at its refinery in North Pole, Alaska. Idling the unit will force the company to lay off up to 40 of the 151 employees over the next five months.
Tech Air strikes deal to buy Dressel Welding Supply
Tech Air, a Danbury, Connecticut-based distributor of specialty gases and related welding supplies, will acquire Pennsylvania-based Dressel Welding Supply. “Dressel will serve as a strategic entry point into the highly attractive Central Pennsylvania and Northern Maryland markets," the CEO said.
INEOS taps KBR to build Texas ethylene furnace
The furnace design will add 465 million lb/year of furnace production capacity to the Chocolate Bayou olefins site in Alvin.
Chevron sees downstream margins up in refining, down in marketing
US energy major Chevron says its downstream earnings in the first quarter are expected to be higher, reflecting improved refining and chemicals margins, lower operating expenses, and gains on asset sales. International refinery crude-input volumes were up slightly compared to the fourth quarter.
Williams picks CB&I for engineering on Louisiana petrochemical expansion
CB&I was awarded a $300 million contract by Williams for a petrochemicals expansion project in Geismar, Louisiana. Plant capacity is expected to be increased from 1.35 to 1.95 billion lb/year. Ethylene, mainly produced via steam cracking, is the world’s largest volume hydrocarbon.
Oneok plans US crude pipeline from Bakken Shale to Cushing storage hub
ONEOK Partners plans to invest $1.5 billion to $1.8 billion between now and 2015 to build a 1,300-mile crude oil pipeline with the capacity to transport 200,000 bpd. Construction is expected to begin in late 2013 or early 2014 and be completed by early 2015, the company said.
BG Group to invest $2bn on R&D in Brazil oil sector
BG Group plans to invest more than $2 billion on research and development in Brazil's oil industry in a bid to become the country's biggest foreign producer by 2020, the Financial Times newspaper reported. The R&D budget of more than $2 billion would be spent by 2025, an official said.
Phillips 66 to focus on chemical, pipeline units, less on fuels - CEO
The ConocoPhillips downstream spinoff will focus on growing its chemical and midstream segments at the expense of refining due to the weak outlook for fuel demand.
Marathon agrees to limit refinery pollution in US Clean Air Act settlement
The US DoJ and EPA said Marathon Petroleum agreed to reduce air pollution from all six of the company's petroleum refineries as part of a settlement over alleged violations of the Clean Air Act. Marathon, headquartered in Findlay, Ohio, will also pay a civil penalty of $460,000. It had no immediate comment.
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