Refining – Page 2 – Oil & Gas 360

Citgo Gets U.S. Subpoena Related to Venezuela Bribery Probe - Oil & Gas 360

U.S. Court Confirms Citgo Board Appointed by Venezuela’s Opposition

August 22, 2019

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

CITGO Board Appoints Former Venezuelan Oil Executive as CEO

August 14, 2019

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

Ithaca Energy Acquires Chevron North Sea Limited for $2 Billion - Oil & Gas 360

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

August 2, 2019

From Reuters Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday. Exxon’s topped analysts’ reduced estimates for the quarter but net fell 21% from a year earlier, its third quarter in a row of weaker year-over-year profit, despite a near doubling

New Biz Dev Boss at Delek US

July 15, 2019

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 company’s new executive vice president of business development. Schofield, who will join Delek this August, has more than 35 years

Natural Gas is Reducing Transport Sector Emissions at U.S. and Canadian Port Cities

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

August 29, 2018

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, citing market conditions. Global oil and shipping companies are looking at options to cope with the new standards that come

Venezuela Eyes First-Ever Refining of Foreign Oil

June 14, 2018

From Reuters Venezuela is considering producing fuels from foreign crude oil for the first time, according to planning documents seen by Reuters, as the country struggles to meet its obligations despite having the world’s largest crude reserves. State-run oil company PDVSA may process up to 57,000 barrels per day (bpd) of foreign crude in June at the country’s largest refinery,

Total and Aramco will Build a $9 Billion Petrochem Complex Next Door to SATORP Refinery

April 11, 2018

Saudi Aramco and Total (ticker: TOT) have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia. Located next to the SATORP refinery in the same industrial area, the complex will comprise a mixed-feed steam cracker (50% ethane and refinery off-gas) with a capacity of 1.5 million tons per year of ethylene and related high-added-value

Cabot Oil & Gas will be the exclusive provider of natural gas to the Lackawana Energy Center Project, seen here in a rendering

Encana, Keyera Deal Will Add 33,000 Barrels of Montney Condensate Processing Capacity at Pipestone

April 2, 2018

Deal struck between Encana and Keyera Partnership adds 33,000 barrels of raw condensate processing capacity and 170 MMcf/day of net inlet gas processing; Keyera will own the facilities at Pipestone Encana Corporation (ticker: ECA) and Keyera Partnership have reached an agreement where Keyera will acquire and fund the remaining development of Encana’s Pipestone liquids hub and Encana’s planned Pipestone processing

Canada Needs Higher Takeaway Capacity and Lower Oil Price Differential

March 22, 2018

Canada is hurting for takeaway capacity—the industry needs pipelines to take its oil and gas production to market, or more locomotive hauling capacity—or both. Cenovus Energy Inc. (ticker: CVE) said it has reduced production rates due to pipeline constraints and a lower price for Canada’s oil. Cenovus is storing excess barrels in its reservoirs due to wider than normal light-heavy

More PetroChem Plants: PetroLogistics II Formed with $500 Million Initial Commitment

January 16, 2018

Quantum Energy Partners and Stonecourt Capital LP have announced the formation of PetroLogistics II LLC, with founders David Lumpkins and Nathan Ticatch. PetroLogistics II, headquartered in Houston, Texas, plans to continue the strategy of its predecessor, PetroLogistics Company LLC. The newly formed company will acquire, develop and operate petrochemical manufacturing, processing and logistics assets in North America. Quantum, Stonecourt and

Inter Pipeline Building a $3.5 Billion Propane to Plastics Plant with Help From Canadian Govt.

December 19, 2017

Incentives to draw PetroChem developers was Alberta’s royalty credits Inter Pipeline Ltd. (ticker: IPL) is getting help from the Canadian Government to build a world-scale integrated propane dehydrogenation (PDH) and polypropylene (PP) plant with a price tag of $3.5 billion. The facilities will be collectively referred to as the Heartland Petrochemical Complex, the $3.5 billion superstructure is designed to process

Hurricane Harvey Likely to Reduce U.S. Refinery Output: Baird

August 25, 2017

Hurricane Harvey, which is expected to make landfall around one o’clock in the morning on Saturday, August 26, may have an impact on the near-term energy outlook for the U.S. As of now, Harvey is classified as a Category-2 storm and is expected to be re-characterized to a Category-3 storm around the time it makes landfall. The last Category-3 hurricane

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