Crude oil
Nebraska approves new Keystone XL pipeline route
The approval by the state's governor, a Republican, is one of the last remaining hurdles the pipeline has to clear before getting a final permit from the Obama administration. Meanwhile, the US State Department is expected to release a draft of its own findings in the coming days.
IEA raises forecast for global oil demand in 2013, citing strength in China
In China, which alone accounted for two-thirds of total oil demand growth in the four years to 2011, infrastructure spending, stronger electricity use and increased rail usage could underpin an increase in demand, the IEA said. In Europe, however, the picture still remains bleak.
US growth in tight oil production could reshape Canadian oil sands markets
The US will remain the main market for Canada's oil sands and its import levels are expected to grow, but the destinations and types of imports are likely to be altered.
Aramco, Bapco to upgrade path of joint oil pipeline to lone Bahrain refinery
The project will up the capacity of the pipeline, opened in 1945, to 350,000 bpd of oil from 230,000 bpd, the person said. The project is part of a strategy to develop Bahrain's oil and gas sector.
BP outlook shows North America shale oil boom putting pressure on OPEC
BP's forecasts illustrate the extent to which the North American boom, first in shale gas production and now in shale oil, has redrawn the global energy map. However, the company doesn't expect the shale revolution to spread by 2030 on any great scale to Asia or Europe.
UK rejects requests to stop Arctic oil, gas drilling
The UK government said that while it recognized the risks of drilling for hydrocarbons in the sensitive Arctic region, high environmental and drilling standards, efforts to enhance oil spill prevention and response mechanisms would be more effective than a complete ban.
Enterprise inks marine transport deal with Exxon for US refined products
Under the terms of the agreement, which took effect January 1, 2013, Enterprise is committing five tugs and 10 barges for the transportation of refined products and other hydrocarbon products along the US inland waterway system. Financial terms were not disclosed by the companies.
IEA says Middle East oil producers are increasingly accepting renewables
Many Gulf countries have made ambitious plans for increasing the share that renewables play in their energy mix. Top oil exporter Saudi Arabia has said it will adopt a renewable energy program at the start of 2013 while Kuwait said in December that it aims to produce 15% of its energy from renewables by 2030.
Saudi Arabia slashes oil production in December
As demand for crude from the Organization of the Petroleum Exporting Countries falls this year, the Saudi cut shows that the kingdom, "still wants to have, and does have, the role as the swing producer in the market," said Thina Saltvedt, a senior oil market analyst at Nordea Bank Norge.
Phillips 66 signs oil-by-rail contract for Bayway refinery in New Jersey
The contract with Global Partners also cements North Dakota crude's hold in the East Coast refining belt, where two other refiners already get Bakken crude by rail.
- 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
