Refining
EIA lowers US price estimates for refined products, oil prices in 2012
The agency said retail gasoline prices would average $3.49/gal in 2012, down from $3.56 in the June estimate. The EIA said 2012 retail diesel prices are expected to average $3.79/gal, down from $3.90/gal. The EIA said heating oil would average $3.64/gal for 2012, down from the June estimate of $3.71/gal.
Aramco ships Europe fuel oil to Red Sea, eyes more
Saudi Aramco is shipping fuel oil from Northwest Europe to the Red Sea to meet Saudi Arabia's peak summer demand, taking advantage of arbitrage economics that have been favorable up until recently.
Coryton refinery becomes latest casualty of Europe industry doldrums
The site will live on in radically changed form as a distribution terminal employing no more than 50 permanent staff, a tenth of the current staff of 500 - which doesn't include an equal amount of contractors. A first batch of 180 dismissal notices were handed out in late June, with more to follow.
DuPont picks KBR for engineering contract on Iowa cellulosic ethanol project
KBR will provide front-end engineering, detailed engineering and procurement services to DuPont’s industrial biosciences group for the plant to be constructed in the Midwest US. The ethanol facility is designed to process 1,300 tpd of corn stover and produce 27.5 million gal/year of ethanol.
ExxonMobil mulls sale of German Esso gas stations
ExxonMobil is in preliminary talks with various parties, some of whom might be from Russia or eastern Europe, the Bloomberg report cited people as saying. Two of the people said the unit, which includes more than 1,100 gas stations, could fetch more than €1 billion ($1.3 billion) in a sale.
Europe plays increasing role in US gasoline market
The current state of the crude oil and refining industry in the Northern Atlantic basin has led to excess European gasoline production playing a vital role, says one analyst. That additional production could be saving the US East coast from shortages, he explains.
Nigeria signs $4.5bn refinery deal with US company Vulcan Energy
The deal between US-based Vulcan Energy, the Nigerian government and a local firm, aims to build six refineries with a combined capacity of 180,000 bpd, Nigeria's Trade and Investment Ministry said in a statement, which also listed the 697.5 billion naira ($4.5 billion) price tag.
US sees higher July 4 holiday travel on low gasoline
The price of motor gasoline is another factor expected to play a role in spurring American travel intentions, AAA found. The current national average price of regular gasoline is $3.50/gal, 44 cents lower than the April peak and 16 cents less than this time last year.
Carlyle, Sunoco reach pact to keep Philadelphia refinery in operation
The refinery under Carlyle is expected to become a major new user of the domestic crude that has backed up at an Oklahoma trading hub unable to reach coastal refineries. The Philadelphia refinery could begin processing US crude by the beginning of next year, increasing its demand over time.
CB&I wins Exxon Canada oil sands expansion work
CB&I’s project scope for this phase of the work includes procurement, module assembly at CB&I’s Fort Saskatchewan facilities, and construction and installation of modular components at the site. The deal is valued at approximately $300 million, company officials said.
- U.S. firms to develop Syria energy masterplan after Trump lifts sanctions 7/18
- Russian seaborne diesel exports for July 1–15 fall 6% month-on-month 7/18
- INEOS invests £30 MM to slash emissions at Hull site by 75% 7/18
- Mitsubishi Chemical Group invests in Licella Holdings, oil conversion technology using supercritical water 7/18
- BASF and Equinor sign 10-yr natural gas supply agreement 7/18
- Oil prices rise after new EU sanctions on Russia 7/18
