Refining
Bharat Petroleum to expand Kochi refinery by end of 2015
India's second-largest state-run refiner and fuel retailer will raise the Kochi refinery's output by 120,000 bpd to 310,000 bpd, seeking to keep up with higher sales volumes.
Essar finishes Vadinar refinery expansion in India
Essar Oil on Friday announced the completion of the $1.81 billion expansion of its Vadinar refinery with the successful commissioning of the final delayed coker unit (DCU), which is amongst the world's largest. The expansion gives the Vadinar refinery the capability to process much heavier crude diet.
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.
Alberta oil sands employment projected to increase over 70% by 2021
Alberta's oil sands industry, which employed just over 20,000 workers in 2011, is projected to grow its workforce by a staggering 73% by 2021, a new report says. Some oil sands operations and occupations are forecasted to add over 100% of their current workforce by 2021.
Saudi oil minister sees no reason for high oil prices
Saudi Arabia Oil Minister Ali al-Naimi said that there is no reason for current high oil prices, which are hurting European economic growth targets, but said the world's largest crude exporter will do what it can to mitigate them. Naimi wrote his thoughts in a rare opinion piece for the Financial Times.
US Senate defeats bid to end 'big oil' subsidies
Senate Republicans united to block a Democratic attempt to end roughly $20 billion in federal subsidies to the largest oil and gas companies, in a largely political vote that had little chance of approval. Democrats argued that ending unnecessary taxpayer subsidies would have no effect on the price of gasoline.
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.
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.
Foster Wheeler wins project management pact for Indonesia refinery upgrade
Foster Wheeler has been awarded a contract by PT Pertamina to provide project management consultancy services for the residue fluid catalytic cracker (RFCC) project at the Cilacap refinery in Indonesia. The value of the contract was not disclosed and was included in 2012 first-quarter bookings.
- 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
