Crude oil
IEA unveils 2011 World Energy Outlook, says policy changes needed to cut emissions
Without a bold change of policy direction, the world will lock itself into an insecure, inefficient and high-carbon energy system, the International Energy Agency (IEA) warned as it launched the 2011 edition of the World Energy Outlook (WEO). "Governments need to introduce stronger measures to drive investment in efficient and low-carbon technologies," said IEA executive director Maria van der Hoeven.
Kinder Morgan to invest in $400mn oil terminal at Houston Ship Channel
Kinder Morgan Energy Partners said on Tuesday that it will join with Battleground Oil Specialty Terminal Co. (BOSTCO) - a venture with TransMontaigne Partners - in building, owning and operating a new $400 million oil terminal on the Houston Ship Channel. Construction of the tanks is expected to begin this year upon completion of binding definitive customer agreements.
API poll sees rising US support for Canadian oil use
A significant majority of American voters would like the US to rely more on oil from Canada to meet domestic needs, rather than from other countries, according to a new poll. Voters feel better about importing oil from Canada knowing that Canadian oil sands development and the Keystone XL pipeline will bring significant job creation in the US for Americans and increase the nation's energy security, according to the API trade group.
US extends offshore leases for deepwater drilling
The Obama administration recently extended nearly 1,400 deepwater oil and gas drilling leases in an effort to offset production delays caused by the 2010 Gulf of Mexico oil spill and the subsequent five-month ban on new offshore drilling.
BP inks $50mn settlement to resolve claims from Texas City refinery blast
BP has agreed to pay $50 million to the state of Texas to resolve air pollution allegations related to the March 2005 explosion at its Texas City refinery, according to a statement from Texas Attorney General Greg Abbott. An explosion and related fires erupted at BP’s Texas City refinery in March 2005, claiming 15 lives and injuring more than 170 workers.
HP Construction: North America
Eastman Chemical Co. has announced a second expansion of its Benzoflex plasticizer line at the Kohtla-Järve, Estonia, site. The expansion will increase Benzoflex capacity by an additional 11,000 ..
HP Construction: Middle East
L&T Hydrocarbon has a project order, valued around $150 million, from Petroleum Development Oman LLC (PDO). The order is to set up a greenfield project planned to treat an average of 3 million standar..
HP Construction: Asia-Pacific
Alfa Laval has won an order to supply its Packinox heat exchangers to a refinery in Kazakhstan. The order value is approximately SEK 55 million, and delivery is scheduled for 2012.The Packinox heat ex..
Enterprise starts new pipeline for Louisiana shale
Enterprise Products says its $1.5 billion, 270-mile Acadian Haynesville Extension pipeline officially begins commercial service on Tuesday. Featuring interconnects with 12 interstate pipeline systems and the only southerly option that avoids potential bottlenecks at the Perryville hub, the Haynesville Extension offers producers flow assurance and market choice to assist in maximizing the value of their natural gas.
Shale plays spark Q3 rise in US oil, gas deals - PwC
The total value of US oil and gas mergers and acquisitions (M&A) during the third quarter of 2011 jumped 135% as foreign investors continued to show interest in the energy sector, especially in taking positions in shale plays and upstream-related assets, according to a new study from global consultancy PricewaterhouseCoopers (PwC).
- IHI, Vopak to launch ammonia terminal project in Japan 7/11
- India's BPCL plans to shut Bina refinery unit for 15-day maintenance in August 7/11
- Soaring electric truck sales deal new blow to diesel use in China 7/11
- Russia`s Tatneft launches new hydrocracking unit on TANECO refinery 7/11
- IEA: Global oil market may be tighter than it looks 7/11
- India must boost its petchem output to counter China's dominance, Reliance says 7/11
