Economics
Petrobras denies Brazil govt meddling in LPG pricing move
RIO DE JANEIRO (Reuters) — The Brazilian government is not meddling in pricing decisions by state-controlled oil producer Petróleo Brasileiro SA, which on Wednesday kept cooking gas out of a pricing system based on international parity.
UAE re-imposes port ban on Qatari-linked oil tankers
SINGAPORE (Reuters) — Abu Dhabi Petroleum Ports Authority has re-imposed a ban on oil tankers linked to Qatar calling at ports in the United Arab Emirates, reversing an earlier decision to ease restrictions, and potentially creating a logjam of crude cargoes.
Vitol, Gunvor eye Mozambique fuel distributor privatization
MAPUTO (Reuters) — Global oil traders Vitol and Gunvor are interested in buying Mozambique's struggling state-owned fuel distributor Petromac, local media reported on Wednesday.
Modified revamp process to reduce energy use in an SDA unit
Solvent deasphalting (SDA) is emerging as a low-cost, bottom-of-the-barrel upgrading process to recover valuable oil from short residue. This oil can either be further processed to make lube-oil-based stocks or cracked in secondary processing units.
Global Project Data
<i>Hydrocarbon Processing’s</i> Construction Boxscore Database is tracking more than 1,700 active downstream projects around the world.
Big drop in US oil stocks finally on the way, traders say
NEW YORK (Reuters) — Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years.
Tesoro announces expected closing date for Western Refining acquisition
SAN ANTONIO, Texas — Tesoro Corporation announced that the waiting period applicable to its proposed acquisition of Western Refining pursuant to the Hart Scott Rodino (HSR) Act has terminated. This satisfies one of the final conditions to the closing of the pending acquisition. Tesoro expects the closing of the acquisition to occur on June 1, subject to the satisfaction or waiver of the remaining customary conditions to closing.
PKN ORLEN opens to a new model of urban mobility
PKN ORLEN has got involved in car-sharing services by becoming the strategic fuel partner for Traficar. As part of this cooperation, in the cities where the service is available, customers will be able to leave or rent a car at selected PKN ORLEN service stations.
EIA: Gas prices ahead of Memorial Day higher than 2016, but 2nd lowest since 2009
Gasoline prices heading into Memorial Day weekend average $2.40/gal nationally, up from last year's price of $2.30/gal. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of retail regular gasoline was $2.31/gal.
Britain's Spirax-Sarco to buy thermal tech firm Chromalox for $415 MM
(Reuters) — Britain's Spirax-Sarco Engineering Plc said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for $415 MM on a cash-free, debt-free basis.
- Indonesia allocates 15.65 MM kiloliters of biodiesel for 2026 12/23
- Egypt, Qatar's Al Mana Holding sign $200-MM SAF deal 12/23
- China's teapots boost Russian ESPO buying amid record discounts 12/23
- Bahrain's BAPCO sends first diesel cargo to Australia in 2.5 yrs 12/23
- Asia oil floating storage seen declining on lower exports, China buying 12/23
- Gazprom in talks with Hungary's MOL over NIS stake sale 12/23
