BIC Genesis Energy LP said it expects to lose as much as $50 million this year due to a battery of storms that hit the U.S. Gulf of Mexico and forced lengthy offshore oil and gas production shut-ins, Chief Executive Grant Sims told investors, as reported by Reuters. In a typical year, storms would cost the company about $8 to $10
BIC Shell plans to reduce its refinery portfolio to six sites from 14 by 2025, the company said on Thursday in its third-quarter results announcement for 2020. The company said it will transform its refining portfolio from the current 14 sites into six high-value energy and chemical parks. The six sites include Deer Park, Texas, U.S.; Norco, Louisiana, U.S.; Pernis,
Argus Adds details of crude imports to Kwinana in sixth paragraph Sydney, 30 October (Argus) — BP is to convert its 146,000 b/d Kwinana refinery in Western Australia (WA) to an import terminal, in the latest downstream closure to hit the region amid weak markets and rising competition from China. All refining activities at Kwinana — Australia’s largest refinery —
Helps reduce provincial greenhouse gas emissions by approximately 112,000 tonnes annu…
Argus Dubai, 25 October (Argus) — Kuwait’s state-owned refiner KNPC has announced the start-up of six boilers at its 265,000 b/d Mina Abdullah refinery – another step towards the planned completion of its long-delayed $16bn Clean Fuels Project (CFP) later this quarter. Each with a capacity of 380,000 pounds/hour, the boilers will generate the steam needed to operate various units
Argus London, 23 October (Argus) — Europe is becoming engulfed by a second wave of Covid-19, triggering fresh travel restrictions and pulling down transport fuel margins. This makes for a bleak outlook for regional refiners already struggling with low products demand. Covid-19 cases in the UK, France, Germany, Italy, and Spain all registered highs in recent days. France is in
Reuters LONDON/NEW YORK – European and U.S. oil refineries face a wave of closures due to plateauing fuel demand, tightening environmental rules and overseas competition, prompting some owners to opt for an easier alternative – converting plants to produce biofuels. The shock of the coronavirus epidemic crushed global oil demand and as some producers, including BP, say it might never
EnergyWorld State-owned IOC, Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) together with Saudi Aramco and Adnoc plan to set up a 60 million tonnes refinery-cum-petrochemical complex on Maharashtra coast New Delhi: Saudi Arabian Oil Co (Saudi Aramco) and Abu Dhabi National Oil Co (Adnoc) are still committed to investing in the planned USD 44 billion west
argus Rio de Janeiro, 15 October (Argus) — Brazil’s state-controlled Petrobras only expects to sign one refinery sales agreement by year-end, rather than five as originally targeted, a senior company executive familiar with the process tells Argus. The delay stems from scheduling problems associated with the Covid-19 pandemic, oil market volatility, and a court challenge recently decided in Petrobras’ favor. The refinery divestment
argus London, 15 October (Argus) — Total’s European refining margin slipped into negative territory in July-September, the latest in a series of depressed third-quarter indicators. The outlook for the regional sector remains gloomy. Total’s margin was -$2.70/t (-$0.37/bl) in the third quarter, compared with $14.30/t in the second quarter and $47.40/t a year earlier. It follows similar indications from Spanish integrated
argus Delhi, 12 October (Argus) — Indian demand for transport fuels, except for gasoline, remained lower than year-earlier levels in September despite relaxations to the country’s Covid-19 lockdown measures because of collapsing businesses and record job losses. Sales of diesel, India’s most-consumed oil product, averaged 1.36mn b/d last month, down from 1.45mn b/d a year earlier but up from 1.17mn b/d
By Erwin Seba HOUSTON (Reuters) – U.S. energy companies were returning workers …
