Crude oil
HP Associations: A wealth of knowledge at AFPM annual meeting
At March’s American Fuel and Petrochemical Manufacturers (AFPM, formerly known as the NPRA) annual meeting in San Diego, California, it seems everyone had some important knowledge to share. Nowhe..
Conoco completes Phillips 66 downstream spinoff
Following the close of trading Monday, energy giant ConocoPhillips completed the spinoff of Phillips 66 as an independent downstream company. The downstream spinoff includes the 50% stake in Chevron Phillips Chemical, a 50-50 joint venture with Chevron.
Valero CEO believes refining capacity still too much in US, western Europe
"We believe there's still too much refining capacity in the US and western Europe," Valero CEO Bill Klesse said during a conference call with investors. "Some things die hard." High unemployment and higher vehicle fuel efficiency have tamped down on fuel sales on both sides of the Atlantic.
Energy Transfer buys US refiner Sunoco for $5.3bn
Energy Transfer Partners agreed to acquire independent refiner Sunoco in a $5.3 billion deal that would greatly expand the reach of its pipeline system but could also saddle the company with aging refineries. Energy Transfer will also gain Sunoco's relatively successful chain of 4,900 gasoline stations.
Delta Air to buy Conoco refinery in Pennsylvania
Delta Air Lines will soon own the 185,000 bpd Trainer refinery complex near Philadelphia while entering into strategic sourcing and marketing deals with BP and Phillips 66.
BASF chief executive expects no drop in oil prices
German chemical company BASF doesn't expect oil prices to fall in the foreseeable future, CEO Kurt Bock said Friday at the firm's annual general meeting. Whether the company can pass on higher costs to customers will depend on how the economy develops, he said.
Italy's Eni sees challenging 2012 on weak economy, competition from renewables
On the energy markets, Eni said gas demand is expected to be weak due to the economic slowdown and increasing competition from renewables. The Italian company has one of the biggest gas operations in Europe. "The troubles on the financial markets are not over," an executive said.
Motiva completes Port Arthur refinery expansion, becomes largest in US
The new 325,000 bpd crude unit that started processing is combining with existing units to raise capacity to 600,000 bpd, making the Texas refinery the largest in the US.
PdVSA to expand El Palito refinery via Japan loans
The Venezuelan government has secured $1 billion in loans from a consortium of Japanese companies, led by the Japan Bank for International Cooperation, most of which will go toward expanding the South American country's El Palito refinery. Venezuela has aimed to increase shipments to Asian markets.
Hess to spend $45 million on pollution controls at New Jersey refinery
Hess will pay an $850,000 civil penalty and install new pollution controls in a settlement to resolve US Clean Air Act violations at its 70,000 bpd refinery in Port Reading, N.J.
- TotalEnergies and Bapco Energies launch BxT Trading, a new player in the trading of petroleum products in the Middle East 1/14
- Advent Technologies and Airbus expand fuel cell technology for the aviation industry 1/14
- Moeve and Galp negotiating to combine downstream activities to form leading European energy and mobility platforms 1/14
- Moeve supplies SAF to Condor flights from Tenerife South Airport to several German cities 1/14
- Chinese refiners' 2025 oil imports, December inflows both hit record highs 1/14
- Vietnam's Nghi Son refinery processes first batch of non-Kuwaiti crude oil 1/14
