Refined Products Archives - Page 27 of 32 -

Cushing Storage Operator Blueknight Energy Partners Presenting at EnerCom Conference

June 26, 2017

Blueknight Energy Partners (ticker: BKEP) portfolio encompasses crude oil transportation pipelines, gathering systems, crude transport trucks, asphalt cement and residual fuel oil storage. Its assets and infrastructure span the United States. Blueknight Owns 6.6 MMBO crude storage at Cushing, 9.6 MM barrels of asphalt storage In storage alone, Blueknight holds 6.6 million barrels of crude oil and petroleum storage capacity

Refinery Runs at All-Time Highs

June 21, 2017

Week of May 26 set new record U.S. refineries are breaking records processing crude oil this year but crude inventories are still high, according to a note released by the EIA Tuesday. According to the EIA, gross inputs to U.S. petroleum refineries, known as refinery runs, averaged 17.7 MMBOPD in the week ending May 26. This is an all-time high,

How Trucking will Meet the Looming 2024 Diesel Emissions Standards: Creatively - Oil & Gas 360

Europe Feels Pressure to End Use of Diesel Fuel

May 16, 2017

Poor air quality driving European cities against diesel At the December C40 meeting in Mexico, the mayors of Paris, Mexico City, Madrid and Athens announced that they will stop the use of all diesel-powered cars and trucks by the middle of the next decade. The leaders of those cities are worried about diesel’s impact on air quality. BBC reports that leaders

ExxonMobil Picks Corpus Christi for $10 Billion Ethylene Plant

April 19, 2017

Low priced, abundant shale gas supply has created downstream manufacturing renaissance: Woods ExxonMobil and Saudi Arabian chemical company SABIC today announced the selection of a site in San Patricio County, Texas for their proposed petrochemical plant joint venture. First announced in July 2016, this complex is a joint venture between ExxonMobil Chemical and Saudi Arabia Basic Industries Corporation, SABIC, Saudi

Rosneft Looks to Collect on a 49.9% Stake in U.S. Oil Company

April 11, 2017

PDVSA may transfer 49.9% claim as part of debt settlement Russian state-owned oil giant Rosneft may end up owning U.S. downstream operator CITGO if Venezuela’s state-owned PDVSA is unable to pay back dues on a $1.5 billion loan from the Russian company. A 49.9% stake of CITGO, which is owned by PDVSA’s U.S. subsidiary, was used as collateral in December

Expiring Refinery Licences Threaten Nigeria’s Refining Capacity Growth

April 11, 2017

From The Guardian Thirty-two companies granted licences to establish (LTE) and approval to construct (APC) private refineries with a combined capacity of 1.352 million barrels per stream day (mbpsd) in the country may lose their permits as their June 2018 deadline approaches. Statistics obtained by The Guardian show that the medium- to long-term (18 months to three years and above)

Bulls on China's Highways - Oil & Gas 360

Long Bets on Oil Increase as Summer Approaches

April 10, 2017

Refinery utilization hits 90.8%, the highest since the first week of the year U.S. refiners are picking up activity as the summer driving months approach, encouraging markets to increase the number of long bets on oil. Utilization is expected to increase further during the summer months which should help to draw down growing crude oil stocks. Stronger seasonal demand in

Sunoco Sells 1,110 Stores to 7-Eleven for $3.3 Billion

April 6, 2017

Sunoco refocuses on selling wholesale gasoline Sunoco LP (ticker: SUN) announced the sale of 1,108 convenience stores to Seven & i Holdings Co today, in a transaction valued at approximately $3.3 billion. This transaction implies a value of $2.98 million per store. Seven & i Holdings, the owner of 7-Eleven, will sell gasoline supplied by Sunoco. Base gasoline volumes set

Two New Refineries Planned in Texas

March 29, 2017

Shale production provides new opportunities The shale boom has not gone unnoticed by refiners, as two companies are looking to Texas to join some of the biggest plays in the United States. MMEX Resources (ticker: MMEX) and Raven Petroleum both have recently announced their intentions to build refineries in Texas to take advantage of the shale oil production boom. On

Proposed Permian Refinery Could Take 50,000 BOPD from West Texas Producers

March 10, 2017

It’s small when you compare it to the top ten largest U.S. refineries, most located on the Gulf coast, all having capacities between 300,000 barrels and half a million barrels per day, but a small Texas-based energy company has announced its intention to build a 50,000-barrels per day crude oil refinery in a well-selected location: in the heart of the Permian

Saudis to take Ownership of Largest U.S. Refinery

March 8, 2017

From FuelFix Saudi Aramco will take sole ownership of the nation’s largest oil refinery in Port Arthur within the next three months. Royal Dutch Shell and state-owned Saudi Armco announced late Monday they’ve successfully negotiated the dissolution of their two-decade joint venture, Houston-based Motiva Enterprises, which owns three refineries in Texas and Louisiana, including the massive Port Arthur Refinery. The

ExxonMobil Putting $20 Billion into U.S. Gulf Region Downstream Projects

March 6, 2017

11 new projects will create 45,000 jobs, many are $100,000 jobs: XOM Exxon Mobil Corporation (ticker: XOM) is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period, the company said in a press release today. Eleven projects are expected to generate thousands of new high-paying jobs and $20 billion in increased economic

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