Crude oil
Shell mulls sale of downstream businesses in Italy
The potential sale is consistent with Shell’s strategy to concentrate its global downstream businesses where it can be most competitive, according to company officials. Recent examples include the sale of refineries in the UK and Germany and downstream businesses in Finland and Sweden.
Uganda seals deal to build refinery, export pipeline
The agreement to build a refinery with a capacity of just 30,000 bpd was reached following a meeting on Saturday between Mr. Museveni and representatives of the oil companies. It follows a warning from Total in February that failure to include an export pipeline in the plan would stall the development.
Plains to build Cactus crude pipeline in West Texas
Plains said the pipeline is expected to transport both sweet and sour crude oil from the Permian Basin to the Eagle Ford pipeline it operates as part of a joint venture with Enterprise Products. The Eagle Ford pipeline serves markets in Three Rivers, Texas, and Corpus Christi, Texas.
IEA cuts global oil demand outlook, warns on supply
The downward revision by the Paris-based consumer group reflects similar moves by other industry forecasters as concerns over the global economy continue to weigh on demand expectations. The decline reflects very weak demand from industrialized countries, particularly in Europe.
BHP Billiton chairman urges US to promote exports of onshore oil, natural gas
Jacques Nasser, BHP Billiton chairman since 2010, says the export of onshore oil and gas, which has surged in recent years as new extraction techniques have been developed, will bring geopolitical benefits around the world and also create a large number of highly skilled jobs.
SABIC signs research pact with MIT to develop unconventional feedstocks
The agreement paves the way for SABIC and MIT to work together to develop new practical innovation for the company’s solutions and processes in order to meet global needs from developing unconventional feedstocks to innovating new material solutions, SABIC said in a statement.
Eni crude business in Iran may lead to US sanctions
Eni's daily output in Iran averaged 3,000 bbl of oil equivalent in 2012, representing less than 1% of the company's total production. Eni said its refining and marketing division bought 498,000 metric tons of Iranian crude in 2012, paying the country's state oil company $396 million.
Saudi downplays shale boom outside US, Canada
The extra supply is not a competitive threat because it costs more to produce than oil in most of OPEC's member countries, a Saudi official said. "There are many difficulties that face the production activities of shale oil... most importantly, the high production cost which amounts to about $70 to $80/bbl."
Phillips 66 to build rail-unloading facility for crudes at Washington refinery
The unloading facility would allow a train with 100 or more railcars to pull up at the refinery and have its cargo pumped to existing storage tanks, according to an application filed with the Northwest Clean Air Agency. The unloading facility would be able to transfer about 12,800 bbl of oil per hour.
Shell pipeline spills oil into Houston-area bayou
Shell clean-up crews were working to clear the crude out of Vince Bayou, a waterway that connects to the Houston Ship Channel, which leads into the Gulf of Mexico, said Coast Guard Petty Officer Steven Lehman. The spill was contained but the total amount of oil was still being verified.
- Valmet to acquire Severn Group to strengthen Process Performance Solutions segment 12/22
- World’s first dynamic green ammonia plant starts operations in Denmark 12/22
- Baker Hughes to supply liquefaction equipment for Commonwealth LNG export project 12/22
- South Korea petrochemical firms on track to cut up to 3.7 MM tons of output 12/22
- MOL and JERA sign HoAs for the charter of ammonia carriers 12/22
- China's November fuel oil imports up 15% from October 12/22
