Downstream

Petrobras Offering of Fuel Unit Prices at 24.50 Reais Per Share: Sources

Petrobras Offering of Fuel Unit Prices at 24.50 Reais Per Share: Sources

From Reuters


Brazilian state-run oil company Petroleo Brasileiro SA has relinquished control of the country’s biggest fuel distributor in a share offering, pushing ahead with a privatization drive under new Chief Executive Roberto Castello Branco.

The offering of Petrobras Distribuidora …

Source: Vantage Drilling

Petrobras to Privatize Brazil’s Top Gas Seller in $2 Billion Share Sale

From Reuters


Brazilian state-run oil company Petroleo Brasileiro SA is set to relinquish control of the country’s biggest fuel distributor in a share offering due to be priced late on Tuesday, pushing ahead with a privatization drive under new Chief …

Source: Delek

New Biz Dev Boss at Delek US

By Tyler Losier, Energy Reporter, Oil & Gas 360

Daryl Schofield named EVP of business development at Delek US Holdings
Delek US Holdings (stock ticker: DK), a downstream subsidiary of the Israeli-based Delek Group, has hired Daryl Schofield as the

Source: NOAA

Intensifying Storm Cut Half U.S. Gulf Coast Oil Output, Closes Coastal Refinery

From Reuters


An intensifying tropical storm in the U.S. Gulf of Mexico on Thursday cut more than half the region’s oil output, with energy companies evacuating staff from nearly 200 offshore facilities and a coastal refinery.

Oil firms shut more …

Source: The Society of Petroleum Engineers

New Tax Breaks Planned for Mexico’s Indebted Pemex

From Reuters


The Mexican government will propose an additional tax reduction for heavily indebted state oil company Pemex [PEMEXF.UL] in the nation’s 2020 budget, President Andres Manuel Lopez Obrador said Thursday, the latest measure to strengthen the company.

Lopez Obrador …

Source: Chevron Phillips

Chevron Phillips and Qatar Petroleum Team Up Again

By Tyler Losier, Energy Reporter, Oil & Gas 360

New $8 billion project would include 2,000 KTA ethylene cracker
Petrochemical company Chevron Phillips – equally owned by Chevron Corporation and Phillips 66 – has formed another joint venture with Qatar

Delek Names New SVP of Investor Relations

Delek Names New SVP of Investor Relations

Delek US Holdings Names Blake Fernandez SVP of Investor Relations

Source: XOM

Philadelphia Refinery Closing Reverses Two Years of U.S. Capacity Gains

From Reuters


The planned closing of an oil refinery in Philadelphia damaged by a massive fire last month will reverse nearly two years of capacity gains at U.S. refineries, according to a Reuters analysis of government data.

Philadelphia Energy Solutions …

U.S. Refinery Capacity Breaks 1981 Record

U.S. Refinery Capacity Breaks 1981 Record

Marathon is now largest U.S. refiner, Valero second largest
Not only is the United States upstream sector producing crude oil at record levels, the EIA has released its annual report for U.S. refining capacity, and the refining sector is breaking

Source: Saudi Aramco

Saudi Aramco to Collaborate With S-Oil on $6 Billion Steam Cracker

By Tyler Losier, Energy Reporter, Oil & Gas 360

Inauguration of new facilities includes MoU to build new cracker by 2024
Saudi Aramco joined South Korea’s S-Oil this week to inaugurate the latter company’s new petrochemical facilities: the residue upgrading

Source: Saudi Aramco

Saudi Aramco Signs 12 Agreements Worth Billions

By Tyler Losier, Energy Reporter, Oil & Gas 360

Aramco looks to expand its South Korean presence
Saudi Aramco has signed a series of 12 different agreements with a variety of South Korean companies in order to expand its international

Source: Qatar Petroleum

Chevron Phillips and Qatar Petroleum Form JV

By Tyler Losier, Energy Reporter, Oil & Gas 360

Chevron Phillips to have 30% stake in new petrochemical plant
Chevron Phillips Chemical Company LLC - equally owned by Chevron Corporation and Phillips 66 - and Qatar Petroleum (QP) have inked

Summer Drive Season More Costly as East Coast Refinery Burns

Summer Drive Season More Costly as East Coast Refinery Burns

From Bloomberg


Blaze contained at PES facility, major New York supplier, refinery is largest such complex in U.S. East Coast region

Gasoline futures jumped the most in three months after an explosion and fire at the Philadelphia Energy Solutions oil …

Source: Meridian Energy

New President Joins Meridian Energy

By Tyler Losier, Energy Reporter, Oil & Gas 360

Paul Coppola to serve as president and chief investment strategy officer
Meridian Energy Group, Inc., a company specializing in the development of environmentally-conscious crude oil refineries, has added a new member

Colorado Governor’s Withdrawal of Support for Jordan Cove Riles U.S. Congressman

Colorado Governor’s Withdrawal of Support for Jordan Cove Riles U.S. Congressman

Polis's snub of Jordan Cove dovetails with his new 100% renewable energy program
By Bevo Beaven, Editor, Oil & Gas 360
U.S. Congressman Scott Tipton, representing Colorado's Western Slope -- the Piceance Basin. Photo: U.S. House of Representatives

U.S. Congressman

Source: PBF Energy

PBF Energy Snags Martinez Refinery from Shell

~$1 billion transaction to boost PBF’s production volume by 157,000 BOPD
PBF Energy Inc. (stock ticker: PBF) has signed an agreement with Equilon Enterprises LLC d/b/a Shell Oil Products US to purchase the Martinez refinery, located in Martinez, California, for

Total declares force majeure on jet fuel at Germany’s Leuna refinery

Total declares force majeure on jet fuel at Germany’s Leuna refinery

From Reuters


PARIS (Reuters) – France’s Total on Tuesday declared force majeure on the production of jet fuel at its Leuna refinery in Germany following the supply of contaminated crude from Russia.

“We have declared Force Majeure on the jet …

Mexican Tariffs Could Smack U.S. Refiners, Add to Fuel Costs

Mexican Tariffs Could Smack U.S. Refiners, Add to Fuel Costs

From Reuters

HOUSTON (Reuters) – U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by …

June 3, 2019 - 2:44 pm Closing Bell Story‎, Downstream, Energy News, Trade
Source: Citgo

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe

From Bloomberg


American unit of PDVSA has pledged full cooperation with probe, Businessman last week admitted to bribery for contracts

Citgo Petroleum Corp. received a subpoena from the Department of Justice stemming from an investigation into bribery in Venezuela, indicating …

Source: Cameron LNG Media Kit

Cameron LNG Exports First Commissioning Cargo

By Tyler Losier, Energy Reporter, Oil & Gas 360

FERC authorization expected in mid-2019
Cameron LNG, owned in part by Sempra Energy (stock ticker: SRE) subsidiary Sempra LNG, has shipped its first commissioning cargo of liquefied natural gas from its

U.S. Refiners’ 2020 Plans Could Change as Heavy Fuel Has Become Less Abundant, More Expensive

U.S. Refiners’ 2020 Plans Could Change as Heavy Fuel Has Become Less Abundant, More Expensive

Marathon nixes coking unit in Louisiana – loss of supply from Venezuela, Canada, OPEC narrows price differential

From Reuters

NEW YORK (Reuters) – U.S. refiners had a plan for 2020: use their complex operations to maximize profits by making products …

May 10, 2019 - 1:40 pm Closing Bell Story‎, Commodity Pricing, Downstream
Source: Utica East Ohio

Ohio Snags $74 Billion from Shale Investment Since 2011

Ohio home to $4.6 billion in shale industry investment in the first half of 2018 - new CSU study
Total investment in Ohio’s resource rich shale energy sector has reached $74 billion since tracking began in 2011, according to a

Marathon Petroleum Grows End User Presence with 900 MBO Terminal and Retail Acquisition

Marathon Petroleum Grows End User Presence with 900 MBO Terminal and Retail Acquisition

Marathon Petroleum Corp. to acquire a terminal and retail locations in Buffalo, New York

April 15, 2019 - 7:00 am Closing Bell Story‎, Downstream, Press Releases
Marathon, Motiva and Phillips 66 Winners in 4.3 Million Barrel SPR Crude Oil Sale

Marathon, Motiva and Phillips 66 Winners in 4.3 Million Barrel SPR Crude Oil Sale

Winning offers in the ~$65-$67 range
The U.S. Department of Energy’s (DOE) Office of Fossil Energy announced on March 22 that it has awarded contracts to winning bidders in the recent Strategic Petroleum Reserve (SPR) crude oil sale.
DOE offered

IMO 2020 Could Trigger Refinery Closures Outside U.S.

IMO 2020 Could Trigger Refinery Closures Outside U.S.

From the Houston Chronicle

As the global refining industry readies for the shipping industry’s shift to cleaner-burning marine fuels, analysts are warning that not all refineries are ready for what could be one of the biggest regulatory shocks to the …

March 22, 2019 - 5:44 am Closing Bell Story‎, Downstream
Marcellus and Utica Region Will Supply Nearly Half of Nation’s Natural Gas by 2040: IHS

Marcellus and Utica Region Will Supply Nearly Half of Nation’s Natural Gas by 2040: IHS

Natural gas liquids production in the Marcellus and Utica formations expected to nearly double in Ohio, Pennsylvania and West Virginia, drawing petrochemical expansion
According to a new study from IHS Markit, the Marcellus and Utica shale formations’ production will increase

TechnipFMC JV Completes Scope of Work on Sasol Ethane Cracker Project in Louisiana

TechnipFMC JV Completes Scope of Work on Sasol Ethane Cracker Project in Louisiana

Project is expected to triple Sasol chemical output capacity in U.S.
TechnipFMC (stock ticker: FTI, $FTI) in joint venture with Fluor, has completed its engineering, procurement and construction management (EPCM) services on Sasol’s world-scale petrochemical complex in Westlake, Louisiana.

As

Exxon FIDs Polypropylene Unit for its Baton Rouge Operations

Exxon FIDs Polypropylene Unit for its Baton Rouge Operations

ExxonMobil to Fund Polypropylene Unit to Expand Baton Rouge Operations

March 1, 2019 - 10:00 am Closing Bell Story‎, Downstream, Press Releases
U.S. Chemical Production on Gulf Coast Starts New Year with a Gain

U.S. Chemical Production on Gulf Coast Starts New Year with a Gain

According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.3 percent in January, following a 0.6 percent gain in December and a 0.2 percent gain in November. During January, chemical output rose …

February 26, 2019 - 10:01 pm Closing Bell Story‎, Downstream, Oil and Gas 360 Articles
Plan to Refine Permian Oil at Home: Meridian Shoots to Build Second Refinery

Plan to Refine Permian Oil at Home: Meridian Shoots to Build Second Refinery

Almost half of all U.S. crude oil production from onshore basins comes from the Permian Basin according to the EIA. We're talking about a massive amount of daily oil production--3.8 million barrels per day.

And now a home-based Permian refinery

February 12, 2019 - 7:43 pm Closing Bell Story‎, Downstream, Oil and Gas 360 Articles