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Current Downstream Headlines
Outlook & Insights
BP: Refineries In Dire Straits and Solar Dim
(Tuesday, February 21, 2012) Global energy giant BP has described the future of the refining industry as "dire" and given a downbeat assessment of the prospects for solar projects, predicting governments may back away from funding ambitious long-term developments.
Syria Gets Diesel Lifeline But Downstream Crisis Remains A Threat
(Monday, February 20, 2012) Reports of a diesel cargo being delivered to Syria from Venezuela should offer relief to the Assad regime, but will do little to bring a final end to the country's fuel crisis.
OPINION: As Far As the Oil Price Is Concerned, What Goes Up Won't Come Down
(Monday, February 20, 2012) It is the dog that has not yet barked - but it is growling louder by the day.
Is Downstream M&A Poised for an Upswing in 2012?
(Thursday, February 16, 2012) Might private equity help to spur downstream mergers and acquisitions this year?
Scottish Political Leader Unveils Post-Independence Energy Fund Plans
(Thursday, February 16, 2012) Alex Salmond has announced plans for an energy fund worth up to ?30 billion over a generation in an independent Scotland.
Refining
Caltex Denies Refinery Closure Speculation
(Tuesday, February 21, 2012) Caltex has denied it has moved a step closer to shutting down its Kurnell oil refinery by slashing $1.5 billion off the value of its refineries in Kurnell and Brisbane.
Eastern Cape Premier: Refinery Announcement 'Imminent'
(Tuesday, February 21, 2012) Project Mthombo, PetroSA's multi billion rand oil refinery which is expected to massively boost the Eastern Cape's economy and create thousands of jobs, will move a step closer to reality next month.
Aramco, Pertamina May Build Refinery and Petchem Plant in Indonesia
(Monday, February 20, 2012) Saudi Aramco Asia Co Ltd, a subsidiary of oil giant Saudi Aramco signed an initial deal with Indonesia's state energy firm, PT Pertamina to look into building a refining and petrochemicals project in Indonesia, Aramco said on Saturday.
Researchers Say New Zeolite Converts Gasoline into Diesel
(Monday, February 20, 2012) A porous material identified by Swedish and Spanish researchers reportedly exhibits unique properties for converting gasoline directly into diesel.
Icahn Makes Hostile $2.6 Billion Bid For CVR Energy
(Friday, February 17, 2012) The move comes as refiners in the U.S. interior can convert crude into gasoline and diesel much more cheaply than their coastal competitors.
Biofuels
Biodiesel Set to Flow Throughout Malaysia
(Friday, February 17, 2012) At its height, biodiesel was the industry to be in when crude oil prices hit the roof at over US$100 per barrel (RM305) in February 2008.
Ill. School District's Wind Energy Plans Deflate
(Wednesday, February 15, 2012) A proposal to harness wind energy as a source of revenue for three local school districts has been deflated.
Fluor to Build Demo Biofuels Plant in New Mexico
(Tuesday, February 14, 2012) Fluor has won an EPCM contract to design and build a biofuels demonstration facility in New Mexico.
AFPM Welcomes Passage of Ethanol Legislation
(Thursday, February 09, 2012) A U.S. House panel has passed legislation that would require the EPA and the National Academy of Sciences to conduct a scientific and technical analysis to determine if introducing increased ethanol into the U.S. fuel supply is safe.
Brazil's 'Father of Ethanol' Sees Bounty for Biofuel
(Wednesday, February 08, 2012) A pioneer in Brazil's ethanol sector expects robust growth in the ethanol market throughout the Western Hemisphere and beyond.
Petrochemical
Aramco, Pertamina May Build Refinery and Petchem Plant in Indonesia
(Monday, February 20, 2012) Saudi Aramco Asia Co Ltd, a subsidiary of oil giant Saudi Aramco signed an initial deal with Indonesia's state energy firm, PT Pertamina to look into building a refining and petrochemicals project in Indonesia, Aramco said on Saturday.
Uzbek President Okays Financing for $4B Chemical Complex
(Monday, February 20, 2012) President of Uzbekistan Islam Karimov approved sources of financing of construction of Ustyurt Gas Chemical Complex in northern-western Uzbekistan.
Debate on Trinidad Methanol Project Focuses on Too-Cheap Natural Gas
(Friday, February 17, 2012) A political debate has erupted in Trinidad and Tobago over how the tiny country can make more money from methanol by giving a Middle Eastern producer a huge discount on natural gas, a US market source said.
Report: Feedstock Developments to Boost GCC Firms
(Wednesday, February 15, 2012) Petrochemicals feedstock developments across the globe namely shale gas boom in the US, gas shortage in the Middle East and Coal-to-Olefins developments in China will provide new opportunities to GCC players, according to a report.
Jacobs to Provide Basic Engineering Services for Arkema PVC Projects
(Tuesday, February 14, 2012) Jacobs Engineering is executing four contracts to support the provision of Arkema's proprietary suspension and emulsion technology to four of its clients in China.
Pipelines
Exec: Mozambique Pipeline for Gas Imports Ready by April
(Tuesday, February 21, 2012) A pipeline that will allow ships to unload domestic gas at Maputo port should be complete by April this year, according to Manuel Braga, general director of IMOPETRO, the company that imports fuel for Mozambique.
Shah Deniz Consortium Excludes ITGI As European Gas Link - BP
(Monday, February 20, 2012) Two other projects designed to carry natural gas from the Caspian to Europe reportedly are still contenders.
Texas Landowners Fight Pipeline Land Seizures
(Monday, February 20, 2012) As the White House and Congress battle it out over the controversial Keystone XL pipeline, the Canadian company that wants to build it is still using its land-seizure powers to get property easements.
Pak-Iran Gas Pipeline: Russia Wants Contract without Bidding
(Monday, February 20, 2012) Amid pressure from the United States to shelve the much-needed Iran-Pakistan gas pipeline project, Russia has asked Pakistan to award a $1.2 billion pipeline-laying contract to its energy giant Gazprom without going into bidding process.
US: Iran-Pak Pipeline Project Has History of 'False Starts and Hiccups'
(Monday, February 20, 2012) The US State Department has refused to predict whether or not the proposed Iran-Pakistan gas pipeline project would succeed, saying that it had already seen many 'false starts'.
Terminals & Storage
Nigeria Cracks Down on 'Briefcase' Fuel Importers
(Tuesday, February 21, 2012) Following the public outcry against the fraud in the administration of the fuel subsidy and the call for greater transparency, Nigeria's Federal Government has pruned down oil marketing companies to participate in fuel importation.
Enoc Opens Storage Facility in Morocco
(Monday, February 20, 2012) Horizon Terminals Limited, a subsidiary of Emirates National Oil Company (Enoc), has inaugurated its new Dh667 million ($180 million) storage facility in Tangier province of Morocco.
Govt Source: Georgia Gas Storage Project Delayed Indefinitely
(Tuesday, February 14, 2012) Construction of Georgia's first underground gas storage facility, which was supposed to begin in 2011 and finish up in 2013, has been postponed indefinitely, a source in Georgia's Energy and Natural Resources Ministry told Interfax.
Strong Winds Hamper Bid to Retrieve Sunken Oil Tanker
(Monday, February 13, 2012) The relatively calmer Gulf waters late last week gave engineers a sense of hope that they might be able to raise sunken oil tanker White Whale from the sea bottom without major complications.
Iraq Opens First of Four Offshore Mooring Facilities
(Monday, February 13, 2012) Iraq, seeking to maximise crude oil exports, opened the first of four planned offshore mooring facilities in the Gulf and intends by March to add 200,000 barrels a day to its capacity for loading tankers there.
LNG / LPG
Exxon LNG Venture in PNG Sets Expansion Target
(Tuesday, February 21, 2012) A US$15.7 billion energy venture in Papua New Guinea may know by the end of the year if it has enough gas for an expansion that could vastly improve its profitability.
India's OilMin Orders Probe into Petronet LNG's Qatar Contract
(Tuesday, February 21, 2012) Oil Minister S Jaipal Reddy has ordered a probe into changes made in a multi-billion dollar contract for import of liquefied natural gas (LNG) from Qatar, following allegations of foul play.
Source: RIL-BP In Talks to Buy Stake In LNG Import Terminal
(Monday, February 20, 2012) India Gas Solutions, the new joint venture company of Reliance Industries and BP has held initial talks to pick up a stake in an existing operator of a liquefied natural gas (LNG) import terminal, sources close to the company said.
EVT to Build Tanks for Wheatstone Project
(Monday, February 20, 2012) A joint venture between Thiess and EV LNG Australia (EVT) has won an approximately $500 million contract to build LNG storage and condensate tanks for the Chevron-operated Wheatstone Project, a liquefied natural gas (LNG) and domestic gas project.
Early DOE Findings Show Few Safety Issues with LNG Vessels
(Friday, February 17, 2012) A U.S. Department of Energy official said preliminary findings from a study of hypothetical scenarios involving LNG carriers showed a crippled ship as a likely outcome of a serious accident or attack, but an explosion is all but impossible. During a
Commodities
Iran To Resume Crude Sales To France, UK If They Sign Deals - Oil Chief
(Wednesday, February 22, 2012) Iran contends that it is ready to export oil to France and the UK but needs long-term supply deals.
S. Africa Developing Liquid Fuels Road Map
(Tuesday, February 21, 2012) South Africa's government is developing a 20-year liquid fuels infrastructure "road map" to determine the extent of future requirements, Energy Minister Dipuo Peters said in a written reply to a parliamentary question yesterday.
Kuwait Reaches Oil Export Maximum, Following Sanctions on Iran
(Tuesday, February 21, 2012) Kuwait has reached its maximum potential in oil exports, CEO and deputy chairman of Kuwait Petroleum Corporation Farouk Al-Zanki said in an interview with Al Arabiya.
US Oil, and Outlook, Gushing
(Tuesday, February 21, 2012) The United States' rapidly declining crude oil supply has made a stunning about-face.
Oil Rallies As Iran Says No to France and Britain
(Tuesday, February 21, 2012) After gaining approximately 2 percent over the week ending February 17th, crude oil kicked off a shortened week rallying an additional 3% on the NYMEX.
Finance & Acquisition
Swiss Energy Group In Sale Talks with Private Equity Firm for Africa Ops
(Tuesday, February 21, 2012) Swiss energy group Addax & Oryx Group has entered exclusive talks with US private equity firm Emerging Capital Partners for the potential sale of its African downstream operations, which analysts have valued between $250 million - $500 million.
Global Bank SWIFT to Implement Iran Sanctions
(Monday, February 20, 2012) An international banking clearinghouse crucial to Iran's oil sales said on Saturday that it is prepared to discontinue services to Iranian financial institutions targeted by EU and US sanctions.
Petronas Chemicals Upbeat About 2012
(Monday, February 20, 2012) PETRONAS Chemicals Group Bhd is optimistic that it will do well this year due to robust demand for petrochemical products, recovering global economy and its competitive feedstock cost.
Icahn Makes Hostile $2.6 Billion Bid For CVR Energy
(Friday, February 17, 2012) The move comes as refiners in the U.S. interior can convert crude into gasoline and diesel much more cheaply than their coastal competitors.
Caltex Write-Down Ups Risk of Refinery Closures
(Friday, February 17, 2012) A $1.5 billion write-down by Caltex Australia of its refining assets has increased the risk that its two plants will close and added to the manufacturing industry's woes because of the strong dollar, rising costs and intense overseas competition.
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