Downstream

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
World-class Alberta Petrochemical Plant Gets Positive FID

World-class Alberta Petrochemical Plant Gets Positive FID

Pembina Pipeline Corporation Announces Positive Final Investment Decision on an Integrated Petrochemical Facility

February 4, 2019 - 4:42 pm Canada, Closing Bell Story‎, Downstream, Press Releases
Davis Refinery Permit Upheld by North Dakota District Court

Davis Refinery Permit Upheld by North Dakota District Court

All four appeals were ruled in favor of Meridian
A North Dakota District Court has upheld the Permit to Construct for the Davis Refinery from Meridian Energy Group, Inc. The permit was issued on June 13, 2018 as a Synthetic Minor

January 29, 2019 - 2:47 pm Closing Bell Story‎, Downstream, Oil and Gas 360 Articles
Sempra Energy to Sell 42 Bcf of NatGas Storage to ArcLight Capital Partners

Sempra Energy to Sell 42 Bcf of NatGas Storage to ArcLight Capital Partners

Sempra Energy Subsidiary To Sell U.S. Natural Gas Storage Assets To ArcLight Capital Partners

Shell Will Increase Vaca Muerta Shale Production

Shell Will Increase Vaca Muerta Shale Production

Shell Argentina invests to increase shale output after selling downstream assets

December 28, 2018 - 6:00 am Closing Bell Story‎, Downstream, International, Press Releases
Saudi Arabia May Target U.S. Refiners with 40% Oil Export Cut

Saudi Arabia May Target U.S. Refiners with 40% Oil Export Cut

From Bloomberg

After flooding the U.S. market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks, in an effort to dampen visible build-ups in crude inventories.

U.S. refineries given notice

December 14, 2018 - 3:34 pm Closing Bell Story‎, Downstream
The U.S. Imports More Oil from Canada than All OPEC Countries Combined

The U.S. Imports More Oil from Canada than All OPEC Countries Combined

80% of the imported Canadian oil is heavy oil
According to EIA data, in 2017, the United States imported approximately 7.969 MMBOPD of all grades of crude oil from about 80 countries. The EIA calculates that 3.117 MMBOPD came from

December 11, 2018 - 2:51 pm Canada, Closing Bell Story‎, Downstream, Oil Sands
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Inter Pipeline Announces $1.46 Billion CapEx Program for 2019

Inter Pipeline Announces Capital Expenditure Program for 2019

December 3, 2018 - 1:39 pm Canada, Closing Bell Story‎, Downstream, Midstream, Press Releases
‘Colossal Collapse’ in Gasoline Prices Expected Heading into Midterm Elections

‘Colossal Collapse’ in Gasoline Prices Expected Heading into Midterm Elections

From USA TODAY

Gasoline prices are expected to plunge sharply in the final days leading up to the midterm elections, potentially nearing $2 per gallon at some stations in low-tax states.

The sudden respite at the pump comes from sharply …

November 2, 2018 - 10:26 am Closing Bell Story‎, Commodity Pricing, Downstream
Exxon Preps Texas Refinery for Vastly Expanded Shale Oil Refining

Exxon Preps Texas Refinery for Vastly Expanded Shale Oil Refining

Exxon expansion plans would yield total refining capacity of ~665,000 BPD – with FID, Beaumont would become largest U.S. refinery 

From Reuters

HOUSTON (Reuters) – Exxon Mobil Corp has begun groundwork at a Texas refinery that would become the largest …

October 26, 2018 - 3:29 pm Closing Bell Story‎, Downstream
Chevron Likes Idea of Buying or Building its Own Houston Refinery for West Texas Light Oil

Chevron Likes Idea of Buying or Building its Own Houston Refinery for West Texas Light Oil

Houston ship channel location “could make a lot of sense”

From the Houston Chronicle

Chevron said Wednesday it’s interested in either buying or building an oil refinery in the Houston area to process its booming production from West Texas’ Permian …

October 11, 2018 - 11:05 am Closing Bell Story‎, Downstream, Energy News
50 Cranes and Counting at Shell’s Pennsylvania Polyethylene Mega-Plant

50 Cranes and Counting at Shell’s Pennsylvania Polyethylene Mega-Plant

From the Pittsburgh Business Times

Work continues to ramp up at Shell’s petrochemical plant being built in Beaver County, with about 50 cranes on the site, including some of the world’s largest.

There are so many cranes that they all …

October 9, 2018 - 4:23 pm Closing Bell Story‎, Downstream
Moody’s is All Aboard for Precision Railroading, But as to Shippers…

Moody’s is All Aboard for Precision Railroading, But as to Shippers…

From FreightWaves

Let’s hear it for precision railroading.

That’s the message of a recent report by Moody’s Investors Service, one of the leading debt rating agencies, about the system pioneered by the late Hunter Harrison at Canadian Pacific (NYSE:

EPA Adds Transparency to Soften Feud Between Oil and Farmers re Ethanol Mandate

EPA Adds Transparency to Soften Feud Between Oil and Farmers re Ethanol Mandate

RIN tracking for oil refineries, and waivers for economic harm to small refineries

From Bloomberg

President Donald Trump’s Environmental Protection Agency is taking a step to boost transparency for the country’s ethanol mandate, a move that could draw rare mutual …

September 25, 2018 - 10:38 am Closing Bell Story‎, Downstream, Energy News
Shareholders of Marathon and Andeavor Approve Strategic Combination

Shareholders of Marathon and Andeavor Approve Strategic Combination

At special meetings today, shareholders of both Marathon Petroleum Corp. (NYSE: MPC) and Andeavor (NYSE: ANDV) voted to approve the strategic combination of MPC and Andeavor. MPC shareholders approved the issuance of shares of MPC common stock and Andeavor shareholders …

September 24, 2018 - 1:18 pm Closing Bell Story‎, Downstream, Energy News
Robust Ethane Supplies from U.S. Shale Boom Drive Chemical Plant Investment to $200 Billion

Robust Ethane Supplies from U.S. Shale Boom Drive Chemical Plant Investment to $200 Billion

U.S. chemical, plastics plant investment of $202 billion is direct result of shale gas growth: ACC

The American Chemistry Council (ACC) released data today and the trade group has determined that U.S. chemical and plastics industry investment linked to plentiful …

September 11, 2018 - 3:41 pm Closing Bell Story‎, Downstream, Oil and Gas 360 Articles
Source: Royal Caribbean ---    World’s 3 largest cruise ships converge off Florida Coast:  Royal Caribbean International’s Oasis of the Seas, Allure of the Seas and Harmony of the Sea meet off the coast of Florida November 4, 2016.

Refiners Struggle As Low-Sulphur Upgrade Nears $1 Billion Per Plant

From gCaptain/Reuters

(Reuters) – Global energy trader Gunvor Group has put on hold plans to upgrade its Rotterdam refinery that intended to make the plant more competitive ahead of new global rules on shipping fuel quality, it said on Tuesday, …

August 29, 2018 - 11:36 am Closing Bell Story‎, Downstream, Energy News
U.S. Refineries: Near-Record High Inputs on Global, Domestic Gasoline, Distillate Fuel Oil Demand

U.S. Refineries: Near-Record High Inputs on Global, Domestic Gasoline, Distillate Fuel Oil Demand

For the week ending July 6, 2018, the four-week average of U.S. gross refinery inputs surpassed 18 million barrels per day (b/d) for the first time on record. U.S. refineries are running at record levels in response to robust domestic …

Pipeline Bottlenecks Deliver High Refiner Margins

Pipeline Bottlenecks Deliver High Refiner Margins

Record U.S. crude production and pipeline bottlenecks have helped to lower oil costs for refiners, boosting margins

From the Wall Street Journal

American fuel makers are posting their best second-quarter profits in years, thanks to soaring domestic oil production and …

August 8, 2018 - 1:26 pm Closing Bell Story‎, Downstream, Energy News
Big Crude Oil Margins Should Boost U.S. Refiner Earnings

Big Crude Oil Margins Should Boost U.S. Refiner Earnings

From Reuters

U.S. refiners ran full-tilt in the second quarter, fueled by cheap domestic crude and fat margins that should boost earnings, though their heavy activity could eventually saturate the market with gasoline, sapping profits down the road.

U.S. independent …

Bakken-Only Light Oil Refinery to Break Ground in July

Bakken-Only Light Oil Refinery to Break Ground in July

U.S. refinery capacity remained in stasis during 2017-2018

The EIA reported on Monday that as of January 1, 2018, U.S. operable atmospheric crude distillation capacity totaled 18.6 million barrels per calendar day (b/cd), a slight decrease of 0.1% since the …

Billionaire Makes a $15-Billion Bet on Oil

Billionaire Makes a $15-Billion Bet on Oil

Pushing the limits: following a $10 billion refinery and petchem plant and a $2.5 billion fertilizer plant, billionaire wants to acquire oil fields that will deliver 250,000 barrels of oil production daily

From Bloomberg 

Aliko Dangote has made a fortune …

Baker Hughes to Double Investments in UAE

Baker Hughes to Double Investments in UAE

As ADNOC preps $45 billion partnership to create the single largest integrated refining and petrochemicals destination in the world

From Gulf News

Abu Dhabi: Baker Hughes, a GE Company, is aiming to double its investments in the petrochemical industry in …

PetChem Projects May Be Alberta’s Answer to Prayer

PetChem Projects May Be Alberta’s Answer to Prayer

Alberta and Louisiana are vying for billion-dollar projects 

According to a report from Petrochemical Update, Canada is working to lure about 100 PetChem projects, valued at more than $12 billion, according to data from the Chemistry Industry Association of …

Aramco Expands and Signs Downstream Deals

Aramco Expands and Signs Downstream Deals

From Reuters

Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand.…

Magellan Midstream to Expand Western Leg of Texas Refined Petroleum Products Pipeline System

Magellan Midstream to Expand Western Leg of Texas Refined Petroleum Products Pipeline System

Magellan Midstream to Expand Western Leg of Texas Refined Petroleum Products Pipeline System

May 24, 2018 - 5:00 am Closing Bell Story‎, Downstream, Press Releases
Enterprise Rings in Q1 with $912 Million

Enterprise Rings in Q1 with $912 Million

Enterprise Products Partners L.P. (ticker: EPD) recorded the first quarter of 2018 with a net income of $912 million, or $0.41 per share. Last year, in Q1 2017, the company reported a net income of $761 million, or $0.36 per …

Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion

Refiners Join Forces: Marathon to Acquire Andeavor for $23 Billion

Deal will create the largest U.S. refiner

Marathon Petroleum Corp. (ticker: MPC) and Andeavor (ticker: ANDV) have entered into a definitive merger agreement under which MPC will acquire all of ANDV’s outstanding shares, representing a total equity value of $23.3 …