Refining
Total unloads UK downstream marketing assets
Total has signed a sale and purchase agreement to sell most of its marketing assets in the UK, the Channel Islands and the Isle of Man to Rontec Investments, a consortium led by Snax 24, an independent forecourt operator in the UK.
Release of strategic oil reserves: New form of economic stimulus
On June 23 International Energy Agency (IEA) members announced the release of 60 million barrels of strategic oil reserves over a month—the equivalent of 2 million barrels per day (bpd) for 30 days. Half of this amount—30 million barrels—will come from the US Strategic Petroleum Reserve (SPR), which currently holds 726.5 million barrels of crude. The release of 60 million barrels over 30 days will temporarily increase world oil supply by about 2.3 percent.
Shell, Canadian government give green light to Quest CCS project
Shell today has signed agreements with the governments of Alberta and Canada to secure $865 million in funding for its Quest carbon capture and storage (CCS) project in Canada.
Honeywell’s UOP to build propane dehydrogenation unit at Takreer UAE refinery
Honeywell’s UOP said it was selected by the Abu Dhabi Oil Refining Co. (Takreer) to provide key technology for a new petrochemical production unit in the United Arab Emirates.
IEA nations to tap oil reserves as supply disruptions continue in Libya
International Energy Agency (IEA) executive director Nobuo Tanaka announced Thursday that the 28 IEA member countries have agreed to release 60 million bbl of oil in the coming month in response to the ongoing disruption of oil supplies from Libya.
NPRA blasts US role in opening of oil reserves
The National Petrochemical & Refiners Association (NPRA) criticized the decision by the Obama administration to contribute 30 million bbl of oil from US strategic reserves, part of 60 million bbl to be tapped by International Energy Agency (IEA) member countries.
Transocean blames BP in new Gulf oil spill report
Transocean announced the release of an internal investigation report on the causes of the April 2010 Macondo well incident in the Gulf of Mexico, blaming rig operator BP for failing to properly assess, manage and communicate risk to its contractors.
Motiva to build rail facility for ethanol at Florida site
Motiva Enterprises said it has reached an agreement with Vecenergy to construct a fuel-grade ethanol rail offloading facility at the Motiva terminal in Port Everglades, Florida. The expanded operations will allow for the delivery of ethanol unit trains directly into existing Motiva storage tanks, the company said.
Weatherford, BP reach Gulf oil spill settlement
Oilfield equipment maker Weatherford agreed to pay BP $75 million to settle potential claims between the companies related to the Deepwater Horizon accident.
Praxair inks hydrogen supply deal for Motiva refinery in Louisiana
Reinforcing its strategy to meet growing customer demand in the Mississippi River corridor, Praxair said it signed a long-term agreement with Motiva to supply hydrogen to Motiva’s Norco refinery Louisiana.
- Evonik launches high performance isodewaxing catalysts for fuels and lubricants production 4/16
- BASF to increase its price for neopentylglycol in the U.S. and Canada 4/16
- AMETEK Process Instruments announces additions to next-gen quartz crystal microbalance moisture analyzer line 4/16
- Brenntag Energy Services announces designated distributorship with BASF for Keropur fuel performance additives in continental Europe 4/16
- Shell restarts crude unit at Pernis oil refinery 4/16
- Nigerian airlines threaten to halt flights over soaring jet fuel prices 4/16
