Crude oil
Halliburton files protest against BP spill settlement
Halliburton is objecting to BP’s proposed $7.8 billion settlement with individual plaintiffs for its involvement in the Deepwater Horizon oil rig disaster. The Houston-based company also contends BP's settlement would make Halliburton responsible for paying at least part of the settlement.
Sunoco, Carlyle mull refinery venture to keep Philadelphia site operational
If a deal is struck, Carlyle would hold the majority stake and oversee day-to-day operations at the 330,000 bpd refinery. Many had expected the site to be shut down this July.
US oil demand falls in March, gasoline use up - API
Total petroleum deliveries (a measure of demand) slipped 1.3% in March compared with March 2011, but gasoline deliveries were up 3%, according to monthly data from the API. US gasoline production of 9.3 million bpd set a record for any March and for any comparable year-to-date period.
Iran accuses Saudi Arabia of breaking OPEC ceiling
Iran accused Saudi Arabia of breaching a collective OPEC agreement, reviving fears that the group could fracture again when it meets in June. Any new split within the group - which is set debate output again mid-June - could impede its ability to both coordinate production and to keep a lid on price volatility.
Statoil sells fuel, retail unit, turns focus to upstream
Statoil joins a long string of oil majors offloading their retail holdings and leaving a challenging market where profits are pressured by high crude oil prices. The deal will give Canadian buyer Alimentation Couche-Tard around 2,300 fuel stations across Scandinavia, Poland, the Baltics and Russia.
CB&I to build storage tanks for Kinder Morgan oil terminal in Canada
CB&I has been awarded a storage tank contract, valued in excess of $55 million, by Trans Mountain Pipeline, operated by a subsidiary of a Canadian subsidiary of Kinder Morgan. The project is scheduled for completion in 2013 and will go in the company’s books as a first quarter 2012 award.
Brazilian miner Vale, oil major Petrobras to unveil joint projects next month
Brazilian mining company Vale and oil and gas company Petrobras will announce joint projects in a month's time. Vale and Petrobras, Brazil's biggest companies by market value, last Friday signed an accord to undertake joint projects in areas including fertilizer raw materials and oil and gas.
Oiltanking to raise crude storage at Texas terminal
Oiltanking announced a $104 million expansion project to construct 3.2 million bbl of new crude oil storage capacity at its Houston terminal facility. All environmental and internal approvals are in place, and the additional capacity is expected to be placed into service in the fourth quarter of 2013.
Enterprise, Enbridge speed up Seaway oil pipeline reversal in US
The Seaway pipeline reversal designed to help ease the glut in Cushing, Okla., will begin delivering crude oil to Gulf Coast refineries earlier than expected, a spokesman for the project said. The reversal had been expected to start up by June 1, but now could begin around May 17.
Enterprise forms partnership to build NGL pipeline from Colorado to Texas
Enterprise Products, Anadarko Petroleum and DCP Midstream agreed to build a new NGL pipeline that will start in the Denver-Julesburg Basin in Weld County, Colorado, and extend 435 miles to Skellytown, Texas. Enterprise will build and operate the pipeline, which begins service in the 2013 fourth quarter.
- BASF and Yara end joint project for low-carbon ammonia at U.S. Gulf Coast 8/26
- U.S. jet fuel consumption growth slows after air travel recovers from pandemic slowdown 8/26
- ExxonMobil announces Group III base stocks production 8/26
- Saudi Arabia and India were biggest buyers of Russian fuel oil, VGO in July 8/26
- Russia raises August oil export plan after drone strikes continue to disrupt refineries 8/26
- Foundation Alloy debuts Molyclast—A new standard in high-performance refractory alloys 8/26
