Refining & Marketing News

Futures Markets

Oil futures slide following early-week strength.

Spot Products Markets

US spot prices dip as inventories soar.

European spot prices mostly fall on lackluster demand.

Asian spot prices end mixed with lighter distillates down and fuel oil up.

Crude & Products Inventories

US crude, product inventories continue to surge.

European product inventories settle at more-than-three-year low.

Asian product stocks rise on jumps in Singapore, Japan.

Retail Market, Demand Trends & Biofuels Blending

US EIA retail gasoline price soars; diesel rebounds.

Shortage of diesel being reported in Syria.

Nigeria to end fuel subsidies, despite threats of oil production shutdown.

Crude Market and E&P Activities

EIA predicts oil demand growth through 2013.

US cash crude prices follow WTI benchmark down.

Booming oilsands supply flips syncrude premium over WTI.

McKenna: Irving Oil could process Albertan oilsands.

Saudi Arabia says it is approaching crude production limits.

Saudi Arabia and Iran cut prices of crude exports to Asian buyers for Feb.

China, Japan, India hesitate endorsing the West's sanctions on Iran.

Shale Plays

Shale boom increases E&P investments in US.

ND's crude oil output reaches new record of 510K b/d.

Trafigura acquires dock terminals in Texas, forms partnership with ETP.

Refining Margins Trends

US refining margins end mixed as crude, product prices rise.

Refinery Shutdowns & Throughput Changes

IIR: US refiners continue to shut down additional capacity.

Several USGC refiners plan turnarounds for FCC, alkylation units.

No decision on Trainer refinery yet says Conoco.

Washington looks to implement refining tax.

Poor margins force two-month shutdown of Repsol CDU, FCCU.

Total will likely keep Lindsey Oil Refinery.

Odessa refinery may resume activities in Feb.

Chinese, Indian refiners lay out long-term maintenance projects.

Vietnam's Dung Quat refinery to increase output by 10% this year.

Refinery Expansion, Upgrades & Construction Activities

ExxonMobil to add specialty lube line at Baytown.

Jacobs Engineering awarded contract for Rhineland refinery.

Alfa Laval to license exchangers for Russian refinery.

Aramco, Sinopec to finalize j.v. refinery project deal.

Turcas, Socar request loan for refinery project.

Samsung wins contract for Laffan refinery.

KPC, Sinopec advance China refinery j.v.

Indian government grants incentives to "mega refineries."

US Exim Bank: relocation of NJ refinery to India "far from" finalized.

Vietnam, Kuwait reaffirm commitment to j.v. refinery project.

Pipeline & Terminal Activities

Republicans look to gain control of Keystone XL approval process.

Hearings over Enbridge's Northern Gateway pipeline to delay project.

Pipeline designed to bypass Strait of Hormuz delayed.

Transnet launches new multi-product pipeline in South Africa.

South Sudan accuses Sudan of planning to block oil exports.

Imports & Exports

Venezuela exports gasoline, diesel to Colombia to counter black market sales.

Refinery-Petrochemical Business Briefs

BTX

Benzene prices rise in Europe and China.

NWE sees jump in toluene prices due to US price hike.

Tight xylene supply in Asia will boost prices.

Taiwan’s CPC plans to turnaround two of its three PX units in Kaohsiung.

Petrochemical Plant Activities

BASF-Sinopec complete $1.4B petrochemical site in China.

Samsung Total j.v. plans to build $1.7B aromatics plant in Korea.

Politics, Environment & Regulatory Legislation

Climate Change Legislation

California, Québec planning joint carbon auction.

CA banks on revenue from new CCT program.

European Parliament postpones efficiency and CO2 vote to Feb. 28.

Barclays Capital lowers forecast for 2012 EU carbon credit prices.

Plant Emissions, Pollution & Waste Discharge

EPA's air toxic standards for boilers struck down.

Fuel Regulations & Other Mandates

TCEQ issues new biodiesel guidelines for Texas.

Poland's government switches up biofuels mandate rules.

Mergers, Joint Ventures, Acquisitions & Divestitures

Tesoro puts Hawaii refinery up for sale.

Report: US Valero in talks to purchase UK refinery from Murphy.

OMV may sell its share in Bayernoil Raffinerie.

Nynas secures loan to purchase Harburg refinery.

Refiner Business, Strategy & Finance

Calumet acquires Ashland’s synlube business.

Lotos creates plan to save $63MM in 2012.

Petron invests in XOM downstream portfolio in Malaysia.

Industry Trends & Forecasts

Future challenges and opportunities for European refiners revealed.

Technology Developments & Commercialization

Primus Green Energy builds biomass-to-gasoline demonstration unit.

PDVSA ready to commercialize its resid processing technology.

Toyo Engineering to introduce SuperHIDic distillation technology to save energy.

Biofuels,Alternative Energy & Carbon Management

Bioethanol, Biodiesel, & Drop-in Fuels

Global biofuel production shifts downward in 2011.

Argentina's biodiesel production, exports skyrocket in 2011.