Archive for the ‘General Interest’ Category
SABIC and ExxonMobil are proceeding with their previously announced plan to build the Gulf Coast Growth Ventures project, a 1.8 million-tonne/year ethane cracker currently planned for construction in San Patricio County, Tex. The ExxonMobil-SABIC …
MARKET: NYMEX oil prices plunge more than $2/bbl
June 13th, 2019 by Latest News
Light, sweet crude oil prices for July and August dropped steeply by more than $2 on July 12 to settle below $52/bbl on the New York market while Brent crude oil also dipped by more than $2 in London to settle under $60/bbl.
World Bank: Global gas flaring up 3% in 2018
June 12th, 2019 by Latest News
Flaring of natural gas rose 3% year-to-year in 2018 to an estimated 145 billion cu m, the World Bank’s Global Gas Flaring Reduction Partnership disclosed on June 12. The growth was associated with increased US crude oil production, although US flaring …
BP report sees energy-emissions ‘mismatch’
June 12th, 2019 by Latest News
Citing a “growing mismatch” between hope and action, BP executives released the company’s annual Statistical Review of World Energy featuring slow progress on climate change and rapid growth in energy demand and emissions of carbon dioxide. The report …
The American Fuel & Petrochemical Manufacturers asked a federal appeals court to review the US Environmental Protection Agency’s authorization for gasoline with 15% ethanol (E15) to be sold year-round in the US. AFPM submitted its petition June 11 …
Petrobras advances downstream divestment plans
June 12th, 2019 by Latest News
Petrobras has signed a commitment agreement with Brazil’s Administrative Council for Economic Defense consolidating an understanding between the parties on the operator’s previously announced plan to divest its Brazilian refining assets.
EIA: US crude inventories up 2.2 million bbl
June 12th, 2019 by Latest News
US crude oil inventories for the week ended June 7, excluding the Strategic Petroleum Reserve, increased 2.2 million bbl from the previous week, according to data from the US Energy Information Administration. Separately, the American Petroleum Institu…
MARKET: NYMEX crude oil prices edge up
June 12th, 2019 by Latest News
Crude oil prices gained slightly to hold fairly flat on markets in New York and London June 11. Analysts note that prices are down 20% from April based on concerns about slowing oil demand coupled with rising US production.
Shell to shed Martinez refinery
June 12th, 2019 by Latest News
PBF Energy subsidiary PBF Holding Co. has entered an agreement with Royal Dutch Shell to purchase Shell subsidiary Equilon Enterprises’s (dba Shell Oil Products US) 157,000-b/d dual-coking refinery and integrated logistics assets at Martinez, Calif., f…
Brent crude oil spot prices are expected to average $67/bbl this year, which is $3/bbl lower than forecast last month in the US Energy Information Administration’s Short-Term Energy Outlook. In this month’s STEO, EIA reports expecting Brent to remain a…