Refined Products – Page 18

Six pipeline companies cut $1.9 billion from their 2020 budgets

March 23, 2020

Houston Chronicle Six pipeline operators have cut a combined $1.9 billion from their 2020 budgets as record low oil prices and weakened demand from the coronavirus dampens plans for new projects, a new research note from Houston energy investment banking firm Simmons Energy reported. Noble Midstream Partners, Rattler Midstream, Targa Resources, EnLink Midstream, Oneok and Pembina Pipeline made the

U.S. diesel cash prices latest to slump from coronavirus fallout

March 23, 2020

Reuters NEW YORK – U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products more affected by coronavirus fallout. Refining margins for gasoline and jet fuel have tanked because of decreased demand for transportation

U.S. oil and gas industry sees no supply chain threat from coronavirus: API

March 18, 2020

Reuters WASHINGTON – The American Petroleum Institute oil and gas industry group said on Wednesday that it does not see a significant threat to the U.S. energy supply chain from the coronavirus pandemic. Oil and gas companies are implementing contingency plans focused on ensuring continuity of supplies to market, and preventing the spread of the virus to workers and the

Marathon Petroleum names midstream boss as new CEO, to retain unit

March 18, 2020

Reuters Marathon Petroleum Corp on Wednesday tapped the head of its midstream business, Michael Hennigan, as its new chief executive officer and said it will retain the unit despite demands from shareholder Elliott Management to separate it. Hennigan replaces company veteran Gary Heminger, whose departure was announced in October when the largest U.S. independent refiner launched a sweeping restructuring that

Talks break off between Unifor and Co-op

February 1, 2020

Talks break off between Unifor and Co-op

Gulf Coast oil and gas expansion will generate half a billion annual tons of emissions in U.S.: report

January 15, 2020

Houston Chronicle More than half a billion tons of additional greenhouse gas emissions per year — equivalent to 8 percent of total U.S. emissions — may be generated by new oil, gas and petrochemical facilities in Texas and Louisiana, University of Texas researchers estimate. New petrochemical plants, liquefied natural gas export terminals and refineries being built along the coasts of Texas and

CVR Energy Announces Pricing of $1.0 Billion Private Placement of 5.250% Senior Notes due 2025 and 5.750% Senior Notes due 2028

January 10, 2020

CVR Energy Announces Pricing of $1.0 Billion Private Placement of 5.250% Senior Notes due 2025 and 5.750% Senior Notes due 2028

Shell brings fuel to Mexico in push for 15% of retail market

January 9, 2020

Houston Chronicle Royal Dutch Shell Plc is seeking a bigger share of Mexico’s fuel market, even as regulatory changes make it harder for foreign companies to compete. The Anglo-Dutch oil major, which already owns about 200 gasoline stations in 12 states in Mexico, plans to grow its share of the retail fuel market to as much as 15% from 1%

ExxonMobil responds to verdict in suit by New York Attorney General

December 10, 2019

Exxon ExxonMobil today issued the following statement in response to the verdict from the Supreme Court of the State of New York: “Today’s ruling affirms the position ExxonMobil has held throughout the New York Attorney General’s baseless investigation. We provided our investors with accurate information on the risks of climate change. The court agreed that the Attorney General failed to make

India’s Modi says Saudi to invest in India’s downstream oil, gas projects

October 29, 2019

Reuters Prime Minister Narendra Modi said on Tuesday Saudi Arabia will invest in downstream oil and gas projects in India as part of a strategic partnership between the two countries, a move that would also help the world’s top oil exporter find a stable outlet for its crude. Modi, who is on a two-day visit to Riyadh to participate in

U.S. sanctions on COSCO hit LNG tankers in Russia’s Arctic

September 30, 2019

From Reuters U.S. sanctions on two units of Chinese shipper COSCO hit the liquefied natural gas (LNG) tanker industry on Monday as U.S.-listed Teekay LNG (TGP.N) said its shipping joint venture in Russia had been “blocked” because of its ties to COSCO. The United States imposed sanctions on COSCO Shipping Tanker (Dalian) Co and subsidiary COSCO Shipping Tanker (Dalian) Seaman

East Texas refineries shut key units, cut back production after Imelda

September 20, 2019

Source: Reuters – East Texas refineries shut key units on Thursday night and cut production after Tropical Storm Imelda brought days of heavy rain over the region, rivaling the inundation from 2017’s Hurricane Harvey. More than 40 inches (102 cm) of rain fell on Thursday across Jefferson County, which includes Beaumont and Port Arthur. Exxon Mobil Corp shut the large

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