01/30/2012 01/23/2012 01/16/2012
Refining & Marketing News
Futures Markets
US crude futures inch up while products prices post large gains.
Houston, St. James may become new trading hubs.
Spot Products Markets
US spot prices climb amid refinery mishaps, falling supply levels.
European spot prices climb on refinery closures, tighter markets.
Asian spot prices mostly fall during shortened trading week.
Crude & Products Inventories
US inventories decrease as imports rise.
European product inventories jump as contango encourages storing.
Singaporean product stocks soar; Japanese supplies dip.
Retail Market, Demand Trends & Biofuels Blending
US EIA retail gasoline price inches down.
API: US petroleum demand in Dec. sinks to 15-year low.
Crude Market and E&P Activities
US cash crude prices climb as ANS sees active roll trade.
North American oil production to surge 36% in next five years.
Canada's prime minister looks to China after Keystone XL rejection.
IHS CERA likens Canadian oilsands regulations to those in Alaska, Australia.
Asia to boost imports from West Africa amid falling Brent prices, rising demand.
Shale Plays
Global fracking market to grow 19% in 2012.
US holiday season affects shale play output.
Production at Eagle Ford to hit 421K b/d by 2015.
President Obama backs shale gas boom with safe practices.
EIA: US to become net exporter of LNG by 2016.
Refining Margins Trends
US refinery margins slip slightly in week.
US refining margins down in 4Q on the back of narrowing Brent/WTI spread.
North Sea Forties margins hit highest level since 2010.
Refinery Shutdowns & Throughput Changes
COP's Linden refinery shuts FCCU for repairs; other refiners plan FCCU work.
ConocoPhillips's Trainer facility begins worker layoffs.
City officials scrap proposed tax hike on CVX's El Segundo refinery.
BMI: Hovensa could not compete with complex refineries.
European, Middle Eastern refiners target turnarounds in 2012 and beyond.
UK fuel truck drivers begin strike outside ConocoPhillips refinery.
LUKoil hopes to restart refinery after installing proper metering devices.
Chad suspends agreement with CNPC after row over fuel prices.
Japanese JX, Cosmo continue with post-earthquake refinery restarts.
China's refinery utilization rate to slide on Feb. maintenance.
Refinery Expansion, Upgrades & Construction Activities
PDVSA president shows confidence in joining Pernambuco refinery project.
Petroecuador to cut crude runs in half at Esmeraldas during upgrade.
KNPC looking to construct third refinery in Asia.
Design plans for Kirkuk refinery to be completed by April.
Egypt's Citadel to start new refinery construction in 2Q.
Total joins Kuwait for China refinery project.
Guangdong Zhenrong looks for Myanmar refinery site.
Accidents, Safety & Environmental Violations
Marathon Petroleum settles hazardous waste violation at MN refinery.
ConocoPhillips refinery records safest year yet.
Oil Refineries Ltd. faces pressure after not meeting waste treatment deadline.
Pipeline & Terminal Activities
Rail becomes alternative to Keystone XL pipeline; GOP battles with State Dept.
Citgo to commission Louisiana rail terminal.
Magellan seeks shippers for Long Horn project.
Imports & Exports
US product exports jump to an average of 2.5MM b/d in 2011.
India considers exporting fuel products to Pakistan.
Refinery-Petrochemical Business Briefs
BTX
Benzene, PX prices up on spike in crude costs, rising demand.
Chinese demand for aromatics to remain strong.
Naphtha
Margins for naphtha crackers depressed early in year.
Naphtha prices drop due to increasing supply.
Petrochemical Plant Activities
South Korea PC makers to invest $6.7B on upgrades to facilities in 2012.
Politics, Environment & Regulatory Legislation
Climate Change Legislation
CA judge denies CARB motion to implement LCFS.
UK committee says carbon tax could be 'counterproductive.'
Fuel Regulations & Other Mandates Brazil to keep ethanol blending at 20%. Germany government advised to halt food imports for biofuel. Mergers, Joint Ventures, Acquisitions & Divestitures Murphy exploring divestiture of retail business. Romania purchases OMV's Arpechim refinery. ExxonMobil may sell stake in Thailand. Refiner Business, Strategy & Finance Chevron reports biggest quarterly earning decline in two years. Galp's fourth quarter sales drop amid production increase. Technology Developments & Commercialization Clean combustion tech to cut GHG emissions from coal-fired power plants. LUKoil awards Technip contract for Bulgarian refinery. Pakistani refiner selects UOP technology. Supplier & Contractor News SNC-Lavalin wins contract for froth-treatment plant. NRC awards Chiyoda furnace replacement contract in Iraq. Biofuels,Alternative Energy & Carbon Management Bioethanol, Biodiesel, & Drop-in Fuels US ethanol export demand rises; outlook for future looks promising. US airlines hope bio-jet fuel can become viable alternative to fossil fuel. Petrobras to increase biodiesel production at Montes Claros. Europe to import Malaysian biodiesel. Petronas, others inject $56MM into LanzaTech's ethanol process. Alternative Energy Obama calls for expanded development of natural gas vehicles.