Crude oil
HP Impact: UK consumers buying less fuel at the pump
In the last 10 years, average UK fuel prices have almost doubled, rising from 73.68 p/l to 136.26 p/l for unleaded gasoline, and 75.57 p/l to 142.39 p/l for diesel. The latest retail marketing survey,..
Phillips 66 aims to refine only US, Canadian crudes
Phillips 66 said it boosted the share of discounted crude produced in the US and Canada that its refineries process to 68% of its feedstock, up from 60% last year. The company said relatively cheap oil from shale and Canadian sources is central to the company's midcontinent refineries.
Uganda eyes 120,000 bpd pipeline to export crude
The country is also planning to build a 30,000 bpd refinery to produce refined fuel products for the local market, allowing the pipeline to transport additional crude to export markets through neighboring Kenya, according to Kalisa Kabagambe, the ministry's permanent secretary.
Valero looks to boost refinery processing capacity for light, sweet crudes
Valero said it was spending about $500 million for new equipment at its refineries in Houston and Corpus Christi, Texas, to increase their light, sweet crude refining capacity by a combined 160,000 bpd. The company was also planning to ship more crude oil from Texas to its refinery in Quebec City,
Imperial Oil starts up Kearl oil sands production
Located in the Athabasca region of northeastern Alberta, production from Kearl's initial development is expected to reach daily production of 110,000 bbl by late this year. Expansion will add another 110,000 bpd by late 2015, and the project has the potential to produce a capacity of 345,000 bpd by 2020.
TransCanada delays planned Keystone XL start
The company pushed back the in-service date for its proposed Keystone XL pipeline to the second half of 2015 as it awaits US government approval for the controversial project. The US State Department is still reviewing the project, which is opposed by environmental groups.
Tesoro, Savage to build crude-by-rail shipping yard for US West Coast refiners
With access to rail and existing marine infrastructure, the Port of Vancouver is uniquely positioned to serve as a hub for the distribution of North American crude oil to West Coast refining centers, according to the companies. The deal is subject to approval by regulatory agencies and port commissioners.
Shell, ONGC discuss Indian oil, gas opportunities
Executives at ONGC said they were in the process of agreeing to a long-term alliance with Shell to jointly explore oil and gas production. In India, Shell currently has a small retail presence and is involved in developing a liquefied natural gas import and regasification terminal at Kakinada in Andhra Pradesh.
Survey finds majority support Keystone XL pipeline
Nearly 75% of Americans and 68% of Canadians said they support or somewhat support the project, which would carry heavy crude from the Alberta oil sands to the US Gulf for refining. "Energy security, particularly in the US, is driving views on energy issues," said Nik Nanos, president of Nanos Research.
US monthly oil demand nudges up; gasoline down
Despite the modest rise of about 100,000 bpd, demand was the second lowest in March since 1997, the API said. Demand for gasoline, the most widely used petroleum product in the country, fell 2.3% in March to a 13-year low of 8.4 million bpd. First-quarter gasoline use was off 1.7% from a year earlier.
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- Canada's Alberta eyes investment in Japan's refining to boost oil exports 8/25
- U.S. EPA approves biofuel waivers for small refiners, stirring concerns over demand 8/25
- Update: Russian oil supplies to Slovakia may resume as soon as today 8/25
- Liquid Sun launches eSAF production pilot with ABB, Finnair, Fortum and Finavia 8/25
