Crude oil
Shale, foreign investment spark 2011 growth in US oil, gas M&A - report
The total value of US oil and gas mergers and acquisitions (M&A) increased significantly in 2011 due to continued investment in shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry. Average deal size also increased in 2011.
India boosts Iran oil imports, largely offsets China reduction - sources
India has boosted its imports of Iranian oil, becoming the Islamic Republic's largest customer last month and largely offsetting a cut in Chinese purchases as sanctions fail to dent Tehran's sales for now, people within the oil industry said this week. Iranian crude exports to India were up 37.5% from December.
Independents nab control of US refining industry
Independent refiners appear in the driver's seat in the US as integrated oil companies increasingly shed refining assets.
EIA raises most US price forecasts for crude, petroleum products
The US government on Tuesday raised its predicted prices for most crude oil and petroleum products in the latest edition of its monthly energy forecast. With crude prices serving as the fuel feedstock for petroleum products, forecasts for gasoline and diesel were also up as well.
Magellan Midstream CEO: El Paso-Houston pipeline not fully committed
Magellan Midstream plans to begin by 2013 its project to ship oil from increasingly productive south Texas fields to the refining belt along the US Gulf Coast despite lacking enough shipper interest to fill the line. Last year's WTI-Brent crude price disparity helped spark multiple projects to bring Cushing crude to the Gulf.
Sunoco to swap CEOs amid transition to logistics
Sunoco’s Lynn Elsenhans will step down as CEO and be replaced by Brian MacDonald in March, as the US-based company continues its exit from the manufacturing industry and transition to a logistics and retail focus. MacDonald, 46, joined Sunoco in 2009 as senior vice president and chief financial officer.
ExxonMobil's natural gas emphasis may hurt small US producers
ExxonMobil’s decision to leave US natural gas output untouched despite low commodity prices may push smaller producers out of the business, force industry consolidation and make Exxon an even more powerful force. The company said drilling for natural gas in some areas is still profitable, even at current prices.
Shell looking at ways to improve US gas profits
The company says it may seek land for potential liquefaction and export terminals. After heavy investment in US shale assets, low gas prices are driving up project costs.
Brazil sets domestic record for crude, natural gas production in 2011
Brazil set a record for crude oil and natural gas production in 2011 as ongoing tests at recently discovered oil fields continue to boost the country's output. Average daily output was 2.52 million BOE in 2011, up from 2.45 million BOE per day in 2010, according to the ANP.
Debottleneck crude-unit preheat exchanger network inefficiencies
Simulation models can be effectively used to optimize heat transfer and boost operational performance
- SkyNRG starts construction on its first SAF plant in Delfzijl, the Netherlands 2/13
- India's Reliance wins U.S. license for Venezuelan oil 2/13
- Singapore light distillates stocks hit over 3-yr high on robust imports 2/13
- Three contractors injured at ExxonMobil facility in Beaumont, Texas (U.S.) 2/13
- China's epic renewables boom lifts it into rare clean capacity club 2/13
- TotalEnergies booked loss in France due to refining activities, CEO says 2/13
