Crude oil
Singapore to study LNG bunkering amid search for cleaner marine fuels
Singapore maritime officials are studying the feasibility of LNG bunkering in Singapore in collaboration with DNV and 21 industry partners. The industry is looking to LNG as a cleaner marine fuel to meet international regulations as LNG has lower emissions compared with conventional marine diesel oil.
Sunoco Logistics plans WTI crude pipeline from west Texas to Gulf
Sunoco Logistics Partners is seeking customers for a proposed pipeline that would transport crude oil from West Texas to the Gulf of Mexico, the third such pipeline the company has proposed since February. The pipeline should be operational by 2013, the company said.
Delta Air looks at buying ConocoPhillips refinery
Burdened by the soaring cost of jet fuel, Delta is thinking of making some of its own by acquiring the idled 185,000 bpd Trainer refinery near Philadelphia, sources say.
Flint Hills to shut down Alaska refinery crude unit amid poor margins
Flint Hills Resources said Wednesday poor refining economics were forcing it to suspend operations at a major fuel processing unit and lay off staff at its refinery in North Pole, Alaska. Idling the unit will force the company to lay off up to 40 of the 151 employees over the next five months.
Chevron sees downstream margins up in refining, down in marketing
US energy major Chevron says its downstream earnings in the first quarter are expected to be higher, reflecting improved refining and chemicals margins, lower operating expenses, and gains on asset sales. International refinery crude-input volumes were up slightly compared to the fourth quarter.
China adjusts fee for foreign JV energy projects
Foreign joint ventures involved in oil and gas production in China will now be charged a compensation fee calculated on production value rather than volume. China first levied a fee on foreign joint ventures based on production volume in 1990. However, it suspended the fee in November 2011.
Oneok plans US crude pipeline from Bakken Shale to Cushing storage hub
ONEOK Partners plans to invest $1.5 billion to $1.8 billion between now and 2015 to build a 1,300-mile crude oil pipeline with the capacity to transport 200,000 bpd. Construction is expected to begin in late 2013 or early 2014 and be completed by early 2015, the company said.
BG Group to invest $2bn on R&D in Brazil oil sector
BG Group plans to invest more than $2 billion on research and development in Brazil's oil industry in a bid to become the country's biggest foreign producer by 2020, the Financial Times newspaper reported. The R&D budget of more than $2 billion would be spent by 2025, an official said.
Phillips 66 to focus on chemical, pipeline units, less on fuels - CEO
The ConocoPhillips downstream spinoff will focus on growing its chemical and midstream segments at the expense of refining due to the weak outlook for fuel demand.
PetroChina in talks with Shell, Hess about shale oil joint venture
PetroChina, China's largest energy producer, is in talks with Royal Dutch Shell and Hess Corp. about forming a joint venture to develop shale oil in the Santanghu Basin in northwestern Xinjiang province. China had an estimated 354 billion bbl of shale oil resources as of 2008, the World Energy Council said.
- 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
