From Reuters Oil producer Saudi Aramco signed a memorandum of understanding (MoU) with China’s Zhejiang Free Trade Zone in eastern China to expand downstream investment, the company said in a statement on Thursday. Saudi Aramco, the world’s top oil exporter, bought a 9% stake in a 800,000 barrel-per-day complex built by Zhejiang Petrochemical, majority owned by private firm Zhejiang Rongsheng
From The Houston Chronicle A joint venture between two Houston pipeline operators is expanding its footprint in Colorado’s DJ Basin. Black Diamond Gathering, a joint venture between Noble Midstream Partners and Greenfield Midstream, has entered into a pair of deals that expand its oilfield footprint to 243,000 acres. Noble Energy and Black Diamond recently agreed to ship crude oil on
From The Houston Chronicle With a massive shift in the marine fuel market just months away from implementation, a Galveston fuel storage operator says it plans to operate a 50,000 barrel a day crude processing facility to meet new stricter environmental regulations set to take affect in January. Texas International Terminals confirmed Wednesday reports from Reuters that it plans to
From Reuters China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude
From The Houston Chronicle Houston’s Citgo Petroleum is under attack on multiple fronts. Creditors for its parent company want to seize its refineries. It’s at the center of a fight for control over Venezuela. The Justice Department is investigating it and its parent company’s role in an alleged foreign bribery scheme. And its facing mounting pressure to do something about
From The Houston Chronicle In a victory for Venezuela’s opposition government, a U.S. judge confirmed Citgo Petroleum’s board of directors appointed by Juan Guaido, squashing socialist leader Nicolas Maduro’s efforts to regain control over the Houston oil refiner. On Wednesday a Delaware judge issued a final order approving the Guaido board, who have been effectively leading Citgo since the opposition
From The Houston Chronicle CITGO’s board of directors has appointed former Venezuelan oil executive Carlos Jorda as CEO of the embattled Houston refining company. In a statement released on Wednesday morning, the company’s board reported that the year-long search for a new CEO ended Jorda being selected for a role. A fomer executive with the Petroleos de Venezuela, S.A., or
From Reuters Citgo Petroleum Corp has selected Carlos Jorda as its next chief executive, according to three people familiar with the matter, turning to a seasoned refinery expert and native Venezuelan to run a company facing legal attacks and working under U.S. sanctions against parent Petroleos de Venezuela (PDVSA). Citgo cut ties with PDVSA earlier this year after U.S. President
From Reuters Global oil major BP is deepening its ties with Indian conglomerate Reliance Industries by forging a fuel retailing joint venture to capitalize on rising demand in Asia’s third-biggest economy. The move comes days after BP said it would build a network of charging hubs for electric vehicles with China’s Didi Chuxing, betting on the world’s largest market for
From Reuters Harris County, Texas sued Exxon Mobil Corp on Thursday over pollution from a fire a day earlier at the company’s Baytown Olefins Plant, according to an attorney for the county. The fire was being investigated by federal and state agencies. The U.S. Occupational Safety and Health Administration (OSHA) and the Texas Commission on Environmental Quality (TCEQ) were at
By Tyler Losier, Energy Reporter, Oil & Gas 360 TC Energy to sell three natural gas-fired power plants to Ontario Power Generation subsidiary for USD $2.18 billion TC Energy Corporation (stock ticker: TRP), an energy infrastructure company based out of Calgary, has entered into an agreement through its wholly-owned subsidiary, TransCanada Energy Limited, to sell interests in three Ontario natural-gas
By Tyler Losier, Energy Reporter, Oil & Gas 360 Columbia Gas and parent company NiSource will allocate a total of $1 billion to address the needs of affected communities Columbia Gas of Massachusetts, in conjunction with its parent company NiSource (stock ticker: NI), has reached a $143 million settlement in relation to last September’s Merrimack Valley natural gas explosion that
