Refining
Chevron sees downstream margins up in refining, down in marketing
US energy major Chevron says its downstream earnings in the first quarter are expected to be higher, reflecting improved refining and chemicals margins, lower operating expenses, and gains on asset sales. International refinery crude-input volumes were up slightly compared to the fourth quarter.
China adjusts fee for foreign JV energy projects
Foreign joint ventures involved in oil and gas production in China will now be charged a compensation fee calculated on production value rather than volume. China first levied a fee on foreign joint ventures based on production volume in 1990. However, it suspended the fee in November 2011.
Oneok plans US crude pipeline from Bakken Shale to Cushing storage hub
ONEOK Partners plans to invest $1.5 billion to $1.8 billion between now and 2015 to build a 1,300-mile crude oil pipeline with the capacity to transport 200,000 bpd. Construction is expected to begin in late 2013 or early 2014 and be completed by early 2015, the company said.
BG Group to invest $2bn on R&D in Brazil oil sector
BG Group plans to invest more than $2 billion on research and development in Brazil's oil industry in a bid to become the country's biggest foreign producer by 2020, the Financial Times newspaper reported. The R&D budget of more than $2 billion would be spent by 2025, an official said.
Phillips 66 to focus on chemical, pipeline units, less on fuels - CEO
The ConocoPhillips downstream spinoff will focus on growing its chemical and midstream segments at the expense of refining due to the weak outlook for fuel demand.
Marathon agrees to limit refinery pollution in US Clean Air Act settlement
The US DoJ and EPA said Marathon Petroleum agreed to reduce air pollution from all six of the company's petroleum refineries as part of a settlement over alleged violations of the Clean Air Act. Marathon, headquartered in Findlay, Ohio, will also pay a civil penalty of $460,000. It had no immediate comment.
Shell considering gas-to-diesel plant in Louisiana
Royal Dutch Shell is considering building a giant plant in Louisiana that would convert natural gas into diesel fuel, several people familiar with the company's plans said. The Anglo-Dutch company is expected to take up to two years to develop detailed engineering plans to determine if the plant is economically viable.
PetroChina in talks with Shell, Hess about shale oil joint venture
PetroChina, China's largest energy producer, is in talks with Royal Dutch Shell and Hess Corp. about forming a joint venture to develop shale oil in the Santanghu Basin in northwestern Xinjiang province. China had an estimated 354 billion bbl of shale oil resources as of 2008, the World Energy Council said.
US trade groups slam EPA for E15 ethanol blend, citing risk to consumers
The API and AFPM trade groups are critical of the US EPA's recent decision to approve higher levels of ethanol in gasoline (E15) before testing is complete, alleging that it could put consumers at risk. Earlier this week, the EPA approved the first applications to make E15, a 50% increase from the E10 blend.
UOP to expand adsorbents, catalysts production at Alabama facility
Honeywell's UOP will invest $20 million to expand its production facility in Mobile, Ala., to produce adsorbents and catalysts. The products are often used by petrochemical producers and refiners. The expansion is expected to be completed in the fourth quarter of this year, according to the company.
- 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
