Crude oil
OPEC boosts group oil production to highest level since '08 recession
Acting to dampen market nervousness amid Iran supply fears, OPEC on Thursday said it was pumping more oil than the market needs - at levels not seen since summer 2008 - and signaled demand destruction had been halted for now. Crude production was up 317,000 bpd month on month.
PetroChina eyes idled Valero refinery in Aruba
PetroChina is reportedly in talks to buy the 235,000 bpd refinery for $350 million. After a January restart, Valero suspended operations in March, citing poor economics.
TransCanada to start building Keystone oil terminal
TransCanada said Wednesday that it successfully concluded an open season for the Keystone Hardisty terminal project. Based on the commitments, the company is expanding the proposed 2 million bbl of crude oil batch accumulation tankage and pipeline infrastructure to a 2.6 million bbl terminal.
Petroplex to build major Louisiana liquids terminal
Petroplex International says it has raised capital to move forward with plans to build a $600 million bulk liquid terminal in St. James Parish, Louisiana, with a projected initial storage capacity of 4 to 6 million bbl. Construction is expected to commence during the first half of 2013, with start up in 2014.
Exxon restarts part of Louisiana pipeline after spill
ExxonMobil Pipeline Co. has restarted part of its North Line oil pipeline in Louisiana, which was shut down April 28 because of a leak, Reuters reported Monday citing a spokeswoman. The stretch of North Line affected by the leak, northwest of Baton Rouge, remained shut, according to the company.
HollyFrontier CEO says US fuel markets are healthy
HollyFrontier expects to increase its refining rate by 3% in the second quarter after finishing refinery maintenance at the beginning the year. Despite forecasts of a lackluster fuel demand amid a sluggish economy, HollyFrontier has seen solid fuels sales in its home region, its CEO said.
TransCanada resubmits Keystone XL application
TransCanada says it resubmitted an application for a US permit for its controversial Keystone XL oil-pipeline expansion, rejected by the White House earlier this year after it became a political flashpoint before this year's presidential election. The White House acknowledged receipt of the application.
Enterprise to raise Texas propane export capacity
In response to increased demand for propane from international markets, Enterprise has started a debottlenecking project on its existing export facility to increase propane export capacity by up to an additional 100,000 bbl per month. The work is expected to be completed by June 30, 2012.
Exxon Louisiana pipeline remains shut after oil spill
ExxonMobil said Wednesday that the North Line crude pipeline in Louisiana remains shut down after an oil spill occurred over the weekend and that cleanup operations continue. The North Line originates in St. James, La., and transports oil to the northern part of the state.
Shell to start up Ho-Ho oil pipeline reversal in 2013, carry crude from Houston
Shell Pipeline successfully concluded the binding open season period for firm capacity on the Houma-to-Houston pipeline system reversal project (Ho-Ho Reversal). The Ho-Ho Reversal project is expected to complement the new pipeline infrastructure that is currently being built to the Houston area.
- Chiyoda, AVEVA forge strategic partnership to power plantOS with AVEVA CONNECT 6/27
- SABIC announces closure of Olefins 6 facility in Teesside, UK 6/27
- LyondellBasell's polyolefin technologies selected by SHCCIG Yulin for petrochemicals complex in China 6/27
- Damaged unit of Iran's South Pars refinery back operating 6/27
- hte conducts research for JGC to advance decarbonization by identifying suitable catalysts for ammonia cracking 6/26
- TES and CPC Finland to develop 500-MW e-NG project in Finland 6/26
