Crude oil
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.
Husky building new hydrotreater at Ohio refinery
Husky Energy has begun construction on a new 20,000 bpd kerosene hydrotreater at its refinery in Lima, Ohio. The hydrotreater should help the company increase jet fuel production. The refinery has a capacity of 155,000 bpd, making it the 48th-largest in the US.
Plains to build northern Oklahoma crude oil pipeline
Plains All American Pipeline says it will construct a new 170-mile pipeline to service the increasing Mississippian Lime crude oil production in northern Oklahoma and southern Kansas. The pipeline is expected to be completed in mid-2013, the company said.
Shale, foreign investment spark 2011 growth in US oil, gas M&A - report
The total value of US oil and gas mergers and acquisitions (M&A) increased significantly in 2011 due to continued investment in shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry. Average deal size also increased in 2011.
- Evonik inaugurates its 100,000-tpy alkoxides plant in Singapore 8/27
- Borouge collaborates with Yokogawa on autonomous AI control room 8/27
- First of five pyrolysis reactors delivered to the tire recycling plant in Uddevalla 8/27
- BASF to increase sustainability across the plastic lifecycle with additive solutions and services 8/27
- 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
