Europe
Trading giant Glencore extends major Libyan oil deal
LONDON (Reuters) -- Swiss-based commodities giant Glencore has extended a deal with Libya's state oil firm to be the sole marketer of one third of the country's current crude oil production, sources familiar with the matter said.
US reversal on transparency could sting Canadian, European oil companies
HOUSTON/CALGARY (Reuters) -- A reversal of US transparency requirements for the natural resources industry could give American oil companies an edge over Canadian and European rivals who face some of the toughest rules in the world, according to company executives, legal experts and trade groups.
Axens wins takover bid on Heurtey Petrochem
Following the reopening of an offer on Heurtey Petrochem from Jan. 16-27, Axens now holds 4,354,286 shares and 4,428,786 voting rights of Heurtey Petrochem in concert with IFP Investments. This represents 88.6% of the share capital and 88.3% of the voting rights. The settlement date of the Offer will take place on Feb. 6.
Oil prices fall after sharp rise in US stockpiles
SINGAPORE/TOKYO (Reuters) -- Oil prices fell on Thursday after official data showed US crude and gasoline stockpiles rose sharply, although signs that OPEC and other producers are holding the line on output cuts helped support prices.
Industry Metrics
European refinery margins weakened due to slower gasoline export opportunities, despite the colder weather.
Global Project Data
According to Hydrocarbon Processing’s Construction Boxscore Database, new project announcements have averaged 11 per month since mid-2016.
Business Trends: Anticipated market and pricing impacts from new marine fuel regulations
In October 2016, the International Maritime Organization (IMO) announced that it will implement a new regulation that calls for the sulfur content in marine fuels to be reduced from 3.5% to 0.5%. The new regulation will go into effect in January 2020. This action by the IMO will have a profound impact on the maritime and refining industries worldwide, as well as on the environment. This month’s Business Trends section provides an overview on the anticipated impacts of the IMO’s decision on petroleum product markets.
Industry Perspectives: Global desulfurization capacity to skyrocket over the long term
According to OPEC’s World Oil Outlook 2016, desulfurization capacity additions represent the largest capacity increases among all process units to 2040. This trend is due to increased regulations on the amount of sulfur allowed in transportation fuels.
Refining: Europe’s refineries: Walking dead or happy valley?
Unloved and increasingly unneeded, Europe’s oil refining sector has been under duress for an astonishing four decades.
Editorial Comment: The future of refining lies in clean fuels
Each year, <sub>Hydrocarbon Processing</sub> devotes an issue to the topic of clean fuels—and rightly so. As the world continues to welcome more vehicles on the road, and as emerging economies invest in civil, industrial and energy projects, global fuels demand is forecast to increase through the end of the decade.
- 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
- China's November fuel oil imports up 15% from October 12/22
- Azerbaijan sends first gasoline shipment to Armenia after decades of war 12/22
- Ethanol producer Inpasa to invest $630 MM in Brazil biorefinery projects 12/22
