Europe
UK strike threat boosts Europe oil product demand
Surging retail fuel sales in the UK amid a threat of a tanker drivers strike are supporting demand in Europe's diesel and gasoline markets. The higher premiums often provide a temporary boost to the struggling European refining sector, as they translate into higher profit margins.
Pakistan eyes Russian funding for Iran gas pipeline
Pakistan says it will seek Russian funding for a multi-billion dollar gas pipeline from Iran amid Chinese reluctance to invest in the project over fears it could be hit by sanctions. The Pakistan team will hold talks with relevant officials and different companies, including Russian gas giant Gazprom.
Airline industry executives call on governments to promote biofuels use
The global airline industry wants stronger government efforts to promote using biofuels, with new regulations and economic incentives for its production. Industry executives said the legislative framework, the still-high costs of biofuels and the availability of raw materials are the main challenges.
Cynar picks Rockwell Automation to design, build UK waste-to-fuel plant
Waste-to-energy technology company Cynar has awarded an $11 million contract to Rockwell Automation to design and build a new end-of-life, plastic-to-fuel conversion plant in Bristol, UK. Cynar says it has developed a technology that converts end-of-life plastics into fuel.
Technip awarded top Europe employer certification
Technip was awarded this week with the Top Employer Europe 2012 certifification. To get certification, organizations were required to be successfully achieving the criteria set in a minimum of five European countries. Technip said it was successfully certified as a Top Employer in nine countries.
France in talks with IEA over oil stocks release
The French government is in consultation with the IEA on whether to release oil stocks in moves to stem high crude prices. France supports a proposal to tap reserves and is also trying to convince producer nations to put more oil on the market to help combat speculation pushing prices higher.
IEA data show high oil costs hurting EU consumers
Early data show that high oil prices in Europe have already started to eat into consumer spending in other areas and could push the region back into recession, says the chief economist of the IEA, Fatih Birol. Energy costs could eat up almost double their typical share of Europe's income this year.
Alfa Laval to supply plate heat exchangers for Brazil oil company
Sweden-based Alfa Laval has won a plate heat exchanger order from a major oil company in Brazil. The Alfa Laval plate heat exchangers will be installed at offshore production platforms where they will be used for heat recovery in the main separation process, the company said.
Global refining catalyst market driven by growth in hydroprocessing
The market improvement is led by demand for cleaner fuels, increasing use of heavier and dirtier feedstocks and additions to refining capacity, a new study says.
Sasol finds alternate oil supply amid Iran sanctions
South Africa's Sasol said Thursday it has found suppliers to replace the crude oil it normally sources from Iran as the West imposes trade restrictions and sanctions on the Islamic Republic. Sasol relies on Iranian oil imports for about 20% of its crude requirement, or 12,000 bpd, at its Natref refinery.
- Oil tankers steer clear of Hormuz ahead of U.S. blockade 4/13
- Vietnam's Binh Son refinery has enough crude oil to operate until early July 4/13
- Inpex to send additional condensate to Australian refineries 4/13
- Saudi Arabia restores full capacity on East-West oil pipeline to 7 MMbpd after attacks 4/13
- Allied Biofuels signs PIA with Uzbekistan to advance $6-B biofuels refinery project 4/10
- Nufarm strengthens strategic collaboration to support long term growth in biofuels production 4/10
