Crude oil
Economic concerns cloud 2012 energy outlook for North America - report
The North American energy industry faces a generally stable operating environment although ongoing sovereign and economic concerns are risks in 2012. The single biggest threat to the crude oil market remains a decrease in overall global demand, due to the risks of potential recession in the US and/or Europe and a decline in China's economy.
TransCanada nets more commitments to proposed Keystone XL extension
TransCanada says it has received additional binding commitments in support the Keystone XL pipeline following the successful conclusion of its Keystone Houston lateral open season. The Keystone pipeline system has now secured long-term firm contracts in excess of 1.1 million bpd, the company said.
North America energy infrastructure outlook holds stable for 2012 - report
The stable outlook is supported by largely contracted revenue streams mitigating price and volume risk, including continuing strong support for renewable power projects through renewable portfolio standards.
Chevron committed to staying in Brazil despite spill
Chevron is "committed" to stay in Brazil for the long term and hopes to "move ahead" after an oil spill in early November that led to intense scrutiny of the oil company from local authorities and regulators. Chevron says it is very proud of its response on the Nov. 7 oil spill because the company's sweeping reaction resulted in no environmental impact from the spill.
BP oil spill report calls for single policing agency
A single governmental agency should be used to insure offshore drilling safety in order to avoid disasters like the Deepwater Horizon in the Gulf of Mexico, a national research group said Wednesday. The recommendation could end up flying in the face of what the industry thinks it needs to regulate itself, though officials from the American Petroleum Institute had yet to comment directly on the suggestion.
US shale resources likely to spark manufacturing renaissance through 2025 - PwC
The abundance of shale gas resources could lead a US manufacturing renaissance with economic benefits that include cost savings, greater investments to expand manufacturing facilities and increased levels of employment, according to a new report.
IEA trims 2012 world oil demand growth forecast on economic woes
The International Energy Agency on Tuesday trimmed its forecast for world oil demand growth in 2012 versus its earlier 2012 projection based on the worsening global economic backdrop and persistently elevated oil prices, but said demand will remain robust and markets tight until 2013. The IEA forecast global oil demand at 90.3 million bpd in 2012, up from 89 million bpd this year.
Global refinery runs to rise in first quarter - IEA
Refinery runs across the globe will bounce back in the coming months as refineries return from heavy autumn maintenance and ramp up production even as profits on oil products fall, the International Energy Agency said Tuesday in a monthly report. Refinery runs will rebound to 75.8 million bpd, or 1.2 million bpd higher than the year-earlier quarter, after relatively weak growth since April.
US chemical group sees slow 2012 improvement, led by shale gas
Despite a slowdown in the US economic recovery, the outlook for the nation’s chemicals manufacturing industry is more encouraging, according to the American Chemistry Council’s (ACC) 2011 Year-End Situation and Outlook. The key to the domestic chemical industry’s recovery is access to vast, new supplies of natural gas from previously untapped shale deposits, the council says.
Refining estimates lowered in Q4 for oil majors
Morgan Stanley has lowered by 7% its refining estimates for major oil refineries in the fourth quarter of 2011, the company said in a note Monday. Factors included a narrowing spread between Nymex crude and Light Louisiana Sweet crude.
- 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
