Crude oil
BP nears deal to sell stake in TNK-BP crude venture to Russia's Rosneft
TNK-BP has been one of BP's best investments, returning $19 billion in dividends on the roughly $8 billion paid for its 50% stake in 2003. The venture accounts for nearly a quarter of BP's reserves and production. But tensions with AAR over strategy and governance have plagued the venture for years.
Murphy Oil to spin off US downstream business
Murphy Oil on Tuesday said it expects to complete the spinoff of Murphy USA in 2013. Murphy USA’s business will consist of retail marketing of petroleum products, a chain of retail gasoline stations, seven product distribution terminals and two ethanol production facilities in North Dakota and Texas.
Canada seeks more energy exports to India, less dependence on US
Canada's search for alternative destinations, including India, China and Japan, for its trove of hydrocarbon resources coincides with India seeking stable supplies of oil and gas to augment its own, relatively limited, energy resources, which currently satisfy less than a quarter of its requirement.
OPEC lowers global oil demand forecasts for 2012
Economic growth is mostly set to come from emerging markets, but these countries are reliant on exports to developed economies, which have performed sluggishly this year. Moreover, improvements in the global economy are dependent on the success of government and central-bank action.
Sunoco completes US merger with Energy Transfer
Energy Transfer gains 7,900 miles of crude oil and refined fuel pipelines from Sunoco Logistics Partners master limited partnership and give it a toe-hold in the Marcellus and Utica shale regions, increasingly productive sources of oil and natural gas. Sunoco now becomes a subsidiary of Energy Transfer.
HP Impact: Marginal increase forecast in North American lubricant market
Marginal increase forecast in North American lubricant marketAlthough it is estimated that there will be a 3% increase in tonnage carried by private fleet operators in the US through 2016, this is exp..
HP Construction: North America
Jacobs Engineering Group Inc. has a contract from Methanex Corp. to provide engineering, procurement and construction services for a methanol production facility in Louisiana. Officials estimate the c..
HP Construction: Europe
Clariant has inaugurated what is said to be Germany’s biggest pilot plant for producing climate-friendly cellulose ethanol from agricultural waste. Located in Straubing, Bavaria, and supported by..
HP Construction: Middle East
KAR Group has announced the third expansion of its Kalak refinery to 185,000 bpd. Process units and utilities are being provided by Ventech Engineers LLC of Pasadena, Texas. Ventech has provided modul..
Enbridge, Suncor expand Canada oil sands terminal
Enbridge will construct a new 350,000 bbl tank at the Athabasca terminal as well as additional infrastructure including new booster pumps, meters and modifications to existing piping and manifolds. To meet Suncor's required in-service date, Enbridge began construction in July 2011.
- thyssenkrupp Uhde to build a low-emission polyester plant for KÖKSAN in Turkey 4/9
- Honeywell to supply digital process and automation technologies to the Dangote refinery 4/9
- Technip Energies awarded contract for Long Son Petrochemicals enhancement project in Vietnam 4/9
- Digital Exclusive: How oil and gas operators can strengthen OT security in 2026 4/9
- Japan weighs new release of about 20 days' worth of oil from reserves 4/9
- Germany probes Klesch's planned purchase of bp refinery 4/9
