Crude oil
Enterprise Products cancels Wrangler pipeline plan
Enterprise Products said Wednesday it will cancel its Wrangler pipeline project in favor of reversing the Seaway pipeline to bring crude oil from Cushing, Okla. to the Gulf Coast. "For all intents and purposes, this project takes the place of Wrangler," the company said.
TransCanada: Keystone reroute agreement could speed approval process
TransCanada Corp. said it reached a tentative deal with Nebraska officials that would move the planned route of its Keystone XL pipeline project away from an environmentally sensitive region, possibly reviving a stalled approval process for the controversial oil conduit.
IHS acquires downstream market research firm Purvin & Gertz
Consultancy group IHS has acquired Purvin & Gertz, a global advisory and market research firm that provides technical, commercial and strategic advice to international clients in the petroleum refining, natural gas, natural gas liquids, crude oil and petrochemical industries.
Keystone delay causing tremors among big oil, benefiting small refiners
The US State Department's decision to delay TransCanada Corp.'s expansion of its Keystone pipeline system sparked quick concern in the North American energy industry. The move would delay completion of the project by a year and a half, according to the American Petroleum Institute (API).
IEA lowers China’s oil demand forecast
The International Energy Agency has slightly lowered its 2012 forecast for Chinese oil demand due to an anticipated slowdown in that country's economy, but revised up its forecast for India's oil demand next year by the same amount. China's gross domestic product in the third quarter rose 9.1% from a year earlier but was down from a 9.5% growth in the second quarter and 9.7% in the first.
Libya oil output resuming far faster than expected
Oil production in Libya is resuming far faster than initially expected and is on track to reach 0.7 million bpd, almost half its pre-war level, by the end of this year, said the International Energy Agency Thursday. Shortly after the IEA upgraded its forecasts, Libyan oil officials said another of the country's largest fields could restart within a week.
Sinopec confirms deal with Galp Energia to buy 30% of Brazil assets
China Petrochemical Corp. said Friday that it has signed an agreement to buy a 30% stake in the Brazilian unit of Portuguese oil company Galp Energia SA for $3.54 billion. Galp's assets in Brazil include four deep-water blocks in the Santos Basin, it said.
Shell sees strong interest in proposed reversal of Louisiana-to-Houston pipeline
Shell Pipeline said on Thursday that it has received a “very encouraging response” to its non-binding solicitation of interest period for capacity on its proposed Houma-to-Houston pipeline system reversal project (Ho-Ho Reversal). Subject to customer commitments and regulatory approval, the Ho-Ho Reversal is expected to begin service by early 2013.
Conoco names downstream spinoff Phillips 66, picks Houston for headquarters
ConocoPhillips announced Thursday that its downstream spinoff company will be named Phillips 66 and be headquartered in Houston. ConocoPhillips, which will be a pure-play exploration and production company after the repositioning, will continue to be headquartered in Houston at the existing ConocoPhillips facility.
US delays Keystone XL pipeline until after 2012
President Barack Obama called Thursday for further study of the controversial Keystone XL Pipeline, putting off a final decision until after the 2012 elections and triggering both praise and criticism on Capitol Hill. TransCanada Chief Executive Russ Girling said the company remains confident the pipeline will be approved.
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- thyssenkrupp Uhde selected by Dangote Fertilizer Ltd. to license four urea granulation units in Nigeria 11/21
- Indian and Chinese refineries are moving to comply with U.S. sanctions on Russia 11/21
- China's first coal-to-chemicals project with green hydrogen starts commercial operations 11/20
- Norsk e-Fuel and Braskem partner to turn captured carbon into long-lasting products 11/20
- Nigeria's Dangote refinery delays CDU maintenance to end of January 2026 11/20
