Europe
Refinery upkeep costs poised to rise, says Tyco
Refinery maintenance will likely become more expensive in the next few years as operators have to make costly changes to comply with new environmental regulations.
UK fuel tanker drivers avert strike after close vote
A threatened strike by fuel-tanker drivers has been avoided after members of the drivers' union voted to accept a deal offering common safety standards and training, as well as an accreditation scheme for drivers. The deal was reached after eight days of talks at the UK arbitration group Acas.
Nord Stream mulls expansion for Russia-to-Europe gas pipeline system
Nord Stream, the consortium that operates a natural gas pipeline that ships Russian gas to western Europe via the Baltic Sea, said over the weekend it is considering further expanding the pipeline. It didn't say by how much the expansion could increase gas shipping capacity.
IEA predicts sharp rise in global refining production
Refiners are poised to ramp up production after seasonal spring maintenance and expected stronger demand for oil products through the summer, the IEA says. Fuel demand traditionally picks up in the northern hemisphere summer but especially in the US, the world's largest oil consumer.
Qatar looks to buy stakes in oil giants Shell, Eni
Qatar's sovereign wealth fund, continuing its recent splurge on overseas assets, is eyeing stakes in Anglo-Dutch energy group Royal Dutch Shell and Italy's Eni. Qatar is in "very advanced talks" to buy 3-5% of Shell, a major investor in Qatar, and a 3% stake in Italian oil giant Eni.
OPEC boosts group oil production to highest level since '08 recession
Acting to dampen market nervousness amid Iran supply fears, OPEC on Thursday said it was pumping more oil than the market needs - at levels not seen since summer 2008 - and signaled demand destruction had been halted for now. Crude production was up 317,000 bpd month on month.
Petroplus finds buyer for Swiss refinery in Cressier
Varo Holding SA, the joint venture between oil trader Vitol and AtlasInvest, has agreed to buy the 68,000 bpd Cressier refinery in Switzerland from beleaguered Swiss refiner Petroplus. Varo intends to restart the refinery and continue refining operations. The deal is expected to close in the 2012 second quarter.
Mozambique works with Shell on LNG development
Mozambique is in talks with Royal Dutch Shell about the oil giant developing the country's natural-gas resources, including a possible liquefied-natural-gas project. Shell upped its bid to acquire Cove Energy, a junior partner in the potentially huge Rovuma gas field in the country, on April 24.
Aker Solutions starts up Mongstad carbon capture plant in Norway
Aker Solutions on Monday inaugurated its carbon capture plant in Mongstad, Norway, calling it an important milestone for the company. The plant was completed mechanically in June 2011 and was followed by commissioning and start-up activities.
US likely to limit LNG exports to keep low gas price
The US government is likely to impose limits on exports of LNG in order to keep its natural gas prices low, said executives from two major oil firms. Several companies are planning to build plants that would convert some of this domestic surplus of gas into LNG that could be shipped internationally.
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- Formosa Petrochemical extends Taiwan cracker shutdown due to weak derivative margins 1/15
- Cargill advances maritime Decarbonization with delivery of first green methanol dual-fuel vessel 1/15
- Key U.S. energy, power trends at home and on world markets 1/15
- U.S. to finalize 2026 biofuel quotas by early March, drop import penalties 1/15
- India's Nayara Energy buys only Russian oil in Dec for 5th straight month 1/15
