Crude oil
Enbridge discovers eastern Michigan pipeline leak
Enbridge Energy is investigating the cause of a pipeline leak in eastern Michigan, according to a government filing made pubic Thursday. Enbridge said it discovered a small amount of oil Thursday in the soil near the town of Sterling in Arena County, according to the company's filing with the National Response Center.
Reliance plans petrochem expansion at Jamnagar refinery in India - report
Reliance Industries will expand petrochemicals production at its Jamnagar refinery in India, according to a Bloomberg report. The expansion is projected to cost from $10 billion to $12 billion and last three to four years, said K.K. Sreeramachandran, general manager in the company’s refining business.
Keystone XL timeline slips to early 2015
TransCanada says it is still waiting for answers from the US government about the process to refile its application for the controversial pipeline.
KBR to process deep oils for Russian refiner TAIF
KBR was awarded a contract by TAIF Group to provide licensing and engineering services for the Veba Combi Cracker (VCC) to be implemented at the Nizhnikamsk refinery in the Republic of Tatarstan, Russia. It marks the largest VCC project award for KBR since acquiring the technology in January 2010.
Total to boost investments as quarterly profits rise
France-based Total said 2012 has begun favorably and that it will step up investments over the next three years after reporting a 12.8% increase in fourth-quarter net income on high oil prices and in spite of weak downstream markets and stable output. Total is targeting a 2.5%/yr increase in average output in 2012-2015.
Enterprise raises oil storage capacity at proposed Houston crude terminal
Enterprise Products has purchased a 37-acre tract of land adjacent to its Enterprise Crude Houston (ECHO) crude oil terminal, which is currently under construction, in southeast Harris County, Texas. The ECHO facility is expected to begin service in the second quarter of 2012.
Copano to expand Eagle Ford shale pipeline in US
Copano Energy says it will extend its wholly-owned 96-mile, 24-inch DK Pipeline in the Eagle Ford Shale play by adding approximately 65 miles of 24-inch pipeline southwest into McMullen County, Texas. The extension is expected to begin service in the first half of 2013 and cost approximately $120 million.
IEA cuts 2012 outlook for global oil demand growth, cites weaker economy
The IEA lowered its estimate for global oil demand growth in 2012 to 800,000 bpd, compared to its previous forecast of 1.1 million bpd amid weaker economic predictions. Global GDP growth is revised down to 3.3% for 2012, from the 4.0% level assumed since September, the agency noted.
Total partly replacing Iran oil with Saudi crude - CFO
Total stopped buying Iranian crude oil for its refineries and trading activities at the end of 2011 - six months ahead of a European embargo - and has partly replaced it with oil from Saudi Arabia, according to its CFO. The company has removed its exposure to Iran as the US and Europe have tightened sanctions.
Saudi Aramco signs 20-year crude supply pact with Korean refiner S-Oil
South Korea-based refiner S-OIL said it signed 20-year long-term crude supply contract with Saudi Aramco. S-OIL’s refining capacity is 669,000 bpd and Saudi Aramco’s total annual supply volume to S-OIL is approximately 230 million bbl in respect of the refiner’s production size.
- 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
