Crude oil
Asia: Japan
The Japanese economy showed steady recovery for 2003–2007. However, due to the global recession in late 2008, Japan’s GDP growth decreased to –1% in 2008 and to –5.5% in 2009. Due ..
Europe: United Kingdom
The United Kingdom (UK) is Europe’s fourth largest chemical economy, after Germany, France and Italy. It accounts for 8% of the European Union’s (EU’s) $900 billion overall chemical pro..
Oneok postpones planned Bakken Express pipeline
The company referred to the project as 'postponed' and said the problem was that shippers were not interested in sending oil to the pipeline's proposed destination at the oil storage hub of Cushing, Okla., currently the site of a supply glut that has helped keep US benchmark oil prices low.
Oil industry seeks repeal of US ethanol standard
A fight is brewing over a federal law requiring ethanol in gasoline, and the battle intensified Tuesday when the API said it will request that Congress repeal the statute. The law requires refiners to blend billions of gallons of ethanol into gasoline, with the goal of using 36 billion gallons by 2022.
Enbridge forms US venture to ship Bakken crudes
The Enbridge joint venture with Canopy will be the largest unit-train facility able to receive crudes from North Dakota, where production is booming, directly into Philadelphia-area refineries. By early next year, its Bakken expansion program will add 200,000 bpd of export pipeline capacity.
AFPM files petition for 2013 biodiesel volumes
The rule increased the volume of biomass-based diesel from 1 billion to 1.28 billion gallons.
Russian government approves Rosneft's TNK-BP acquisition
Russia's government has approved state-controlled oil giant OAO Rosneft's $55 billion acquisition of TNK-BP from BP and its partners.
Operational improvements proposed at Pine Bend refinery
The projects are expected to improve reliability, reduce key emissions and improve the refinery's ability to convert crude oil into transportation fuels.
BridgeTex pipeline to deliver crude from Permian Basin to Houston Gulf Coast
The pipeline will transport up to 300,000 bpd of crude oil, with access to Houston Ship Channel refineries, Texas City refineries and other refineries throughout the Gulf Coast.
US oil demand lowest for October since 1995 – API
Demand was the weakest in October in 17 years, while year-to-date figures are down 2.1% from 2011. "For many months, we’ve seen variations on the same theme: weak demand versus a year ago and some of the weaker demand numbers over the past decade,” said API chief economist John Felmy.
- 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
