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Refining

Essar Energy sees continued strong performance at India, UK refineries

In a mangement statement, Essar said gross refining margins at its Vadinar refinery in India rose to $9.75/bbl for the final 2012 quarter, compared with $2.82/bbl for the same time a year earlier, thanks to refinery upgrades that allow it to process larger amounts of oil as well as cheaper grades.

Calumet, WBI Energy form venture to build North Dakota diesel refinery

The facility will process 20,000 bpd of Bakken crude oil. Construction could begin this spring, and is expected to take up to 20 months. The plant will be located on a 318-acre site located west of Dickinson in Stark County, North Dakota. It will employ approximately 100 people, according to the companies.

Tesoro targets more Canadian crude oil for US West Coast refineries

Tesoro has been aggressive in expanding its crude-oil sources to bring down costs at its refineries along the West Coast, home to the vast majority of its operations. Tesoro and other US refiners have been steadily increasing their use of a domestic oil supply, bolstered by recent advances in drilling technology.

Canada concerned by cheap Alberta crude prices

There has typically been a slight discount, of roughly $10 to $20 a barrel, on the price of Western Canadian Select oil compared to the benchmark West Texas Intermediate blend. But that discount has widened to nearly $40, economists say, and they warn it could balloon further due to pipeline capacity constraints.

Solazyme, Mitsui to jointly develop triglyceride oils

The $20 million, multi-year agreement includes further development of Solazyme’s breakthrough high myristic algal oil, a valuable raw material in the oleochemical industry, as well as additional oils that Solazyme is developing for the oleochemical and industrial sectors, according to the companies.

PTT venture to build condensate splitter in Timor

PTT International will own around 70% of the venture and petroleum firm Timor Gap will own the rest. The companies also agreed to jointly engage in condensate trading activities, he said, adding that the two deals require a combined investment of 5 billion baht ($168 million).

Swiss, Egyptian groups make top bids for Petroplus oil refinery in France

The Petit-Couronne refinery in Western France, now in receivership, was among a string of industrial facilities new French President Francois Hollande had promised to protect before being elected. The two bids deemed serious come from investors in Egypt and Switzerland, the newspaper said.

China to raise fuel standards for diesel, gasoline

China's State Council, or cabinet, said Wednesday it would ratchet up national fuel standards to levels similar to those currently found in the US and Europe by the end of 2017. Beijing will also give room to China's refining industry to pass on the cost to consumers, according to the statement.

ABB to extend eni Taranto refinery export terminal

The contract is part of eni’s plan to improve the refinery infrastructure and to ensure a reliable connection with the onshore Tempa Rossa oil plant. ABB is responsible for the engineering, procurement and construction of the new installation, including project management and pre-commissioning.

Neste Oil to expand Porvoo refinery in Finland with new isomerization unit

The investment, valued at €65 million, is intended to increase the output of high-octane gasoline and improve refining flexibility at the site. The isomerization unit will have a capacity of 600,000 tpy. Construction will begin this year, and the unit is due to come on stream in spring 2015.