Crude oil
HP Industry Perspectives: A sad turn of events
Many pages in Hydrocarbon Processing have and continue to discuss the technical solutions required by the US Renewable Fuel Standard (RFS) and similar legislation. At a time when developed nations str..
PetroChina senior executives under investigation for severe violations
The disclosure by PetroChina came one day after its state-owned parent, China National Petroleum Corp., said a fourth executive was under investigation for the same reason. The phrase "severe disciplinary violations" is typically used by Chinese officials when investigating cases of alleged corruption.
India's Reliance mulls expanded role in Venezuela
Venezuela is looking for Reliance's collaboration on the construction of the $10 billion Cabruta refinery, development of the Junin 1 bloc in the Orinoco heavy oil belt, as well as an expansion of the Petroanzoategui upgrader facility, said Oil Minister Rafael Ramirez, who also heads PdVSA.
Iraq seeks consultant to manage Nassiriya oil, refining project
The December auction is scheduled to include firms such as France's Total, Russia's Lukoil, India's Reliance Industries and ONGC Videsh and several from Japan. The ministry gave no details on the cost.
US fuels demand surges to three-year high in July
US demand for distillate fuel, the umbrella group for diesel fuel and heating oil, rose 8% from a year earlier, to 3.835 million bpd, a six-year high for July. Within that figure, demand for ultra-low sulfur diesel fuel, used to power trucks and trains, was 9.1% higher at 3.661 million bpd.
Clashes erupt at oil terminals in Eastern Libya
The closure of Libya's key oil ports by striking guards and workers, which has more than halved the country's oil production in recent weeks, has helped push oil prices higher, in addition to the Egypt crisis.
Iran detains Indian Oil tanker in Persian Gulf
The Shipping Corp. of India, the ship's owner, said Iranian authorities have detained the vessel since Tuesday afternoon and had alleged the Suezmax crude-oil tanker was polluting Iranian waters, though the company denies the allegation. Suezmax tankers are medium-sized oil tankers.
Calumet buys Murphy Oil crude logistics hub in US
With the acquisition of the loading facilities, all of which are connected at junction points along Enbridge's North Dakota pipeline system, Calumet says it will be positioned to source increased volumes of crude oil directly from local producers in North Dakota and Montana.
Iran expands tanker fleet in bid to maintain exports
Iran has added seven new Very Large Crude Carriers to its fleet since the beginning of the year, including four in the last four months. National Iranian Tanker Co.'s fleet now numbers 37 VLCCs, with a total capacity of 64 million bbl, and 14 smaller tankers, with a capacity of 12.5 million bbl.
Taiwan sees rising crude oil imports, falling LNG
The country's two refiners, government-owned CPC Corp. and privately run Formosa Petrochemical, refined a combined 3.76 million kiloliters of crude oil, up 4.26% from a year earlier, the bureau said in a monthly report. Refinery utilization fell to 62.54% in June from 66.08% in the previous month, it said.
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