Americas
Hess to explore sale of St. Lucia oil terminal
Hess Corp. announced Monday that it is exploring the sale of its St. Lucia crude oil and refined products storage and transshipment terminal in the Caribbean. The news comes two months after Hess unveiled plans to shut down its Hovensa refinery venture in St. Croix.
National fuel-retailing association speaks out on rising transportation fuel prices
"The retail fuels market is a complex system that is influenced by a wide number of factors. The best strategy for providing long-term relief and stability to consumers is to enact a comprehensive transportation energy policy," National Association of Convenience Stores (NACS) Vice President of Government Relations, John Eichberger, told Congress.
EIA raises oil price forecast for 2012
In its March "Short-Term Energy Report," the DOE/EIA raised its oil price forecast for 2012 to $106/bbl, up $5/bbl from the previous forecast amid concerns over geopolitical tensions in the Middle East, growth in world demand and supply constraints in non-OPEC countries.
OPEC pins high oil prices on speculators, IEA warns of supply woes
Leaders of some of the world's largest oil producing nations Wednesday pinned current high oil prices primarily on market speculators, just as consuming nations warned that even present increased output levels are being more than offset by numerous supply problems.
Petrobras to boost gasoline, diesel imports in 2012
Brazil's Petrobras will need to import more gasoline and diesel fuel in 2012 as the company's refineries continue to fall short of domestic demand, Petrobras downstream director Paulo Roberto Costa said. Petrobras is also suffering from delays to refinery projects that will help trim the company's shortfall.
API sues EPA over US cellulosic biofuel mandate
The API) filed a lawsuit with the DC Circuit Court challenging what it called “unachievable requirements” from the US EPA for use of cellulosic biofuels in the 2012 Renewable Fuel Standard (RFS). The API recommends that EPA base their prediction on at least two months of actual production data.
Oil producers start to worry about rising prices
As they prepare to meet with consumers at an energy summit in Kuwait, some of the world's top oil producers voiced concern that rising oil prices may backfire by jeopardizing a global economic recovery. The UK's Brent contract has risen by 17% since the start of the year amid tensions with Iran.
AFPM '12: Tesoro CEO criticizes "challenging" regulatory environment in US
Executives at the annual meeting in San Diego said the oil industry needs to do a better job of informing the public what they do and why fuel prices have increased.
Chevron says oil, gas output to jump 20% by 2017
Chevron said Tuesday its oil and gas production will inch up this year but it expects output to jump 20% in five years as massive liquefied natural gas (LNG) projects in Australia commence operations. Chevron officials noted that annual production could vary depending on oil prices.
Foster Wheeler wins design deal for LNG terminal in Dominican Republic
Foster Wheeler has been awarded the basic design and front-end engineering design contract by Complejo GNL del Este for a new LNG receiving terminal and jetty to be built in San Pedro de Marcorís in the Dominican Republic. The undisclosed value will be included in the company’s first-quarter 2012 results.
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- ABS approves blue ammonia FPSO concept from SBM Offshore 9/12
- Pakistan's top refiner Cnergyico to boost fuel oil exports as domestic sales plummet 9/12
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- Canada may drop oil emissions cap as part of new climate plan 9/12
