Refining
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.
OMV to divest 45% stake in Bayernoil by 2014
Austrian oil and gas company OMV AG will divest its 45% stake in German refinery Bayernoil Raffinerie GmbH by 2014, according to material presented by the company at its London media summit.
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.
Repsol looks to Argentina for YPF compensation
The chairman of Spanish oil major Repsol said the company hopes to arrive at an agreement with the Argentinean government for the nationalization of Repsol subsidiary YPF in April. Argentina seized control of YPF after accusing Repsol of not investing enough in the unit.
REG makes second US biodiesel facility acquisition in three weeks
The US-based Renewable Energy Group (REG) has announced the purchase of a 15-MMgpy biodiesel production plant near Atlanta, Georgia. The company has not yet set a production date for the restart of the facility, which has operated intermittently since January 2008.
BP plans share buyback to stave off takeover bids
The £4 billion share buyback could take place as early as next year. According to the paper, the huge buyback could take place as early as next year. Directors at the oil major are alert to the possibility of an opportunistic bid from a cash-rich rival and have had a defense document on standby for weeks.
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.
EPA denies request to waive US ethanol mandate for gasoline blending
The EPA said Friday it hadn't found any evidence that its renewable fuel standard is causing economic harm. Cattle ranchers and dairy farmers, who use corn to feed cattle, have complained for several months that the ethanol mandate was driving up demand for dwindling supplies of corn.
- Eneos plans to shut Marifu CDU in mid-January for maintenance 12/26
- China's 2026 first batch fuel export quotas steady year on year 12/26
- Singapore fuel oil stockpiles rise to two-week high 12/26
- Asia refinery 2025–2026 maintenance/outages 12/26
- Serbia's NIS gets U.S. approval to negotiate sale of Russian stake 12/26
- India's Reliance gets one-month US concession to buy Rosneft oil 12/24
