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Refining and Processing

Wood Group to support FHR Eagle Ford modification project

Flint Hills Resources will receive support for its Eagle Ford modification project from Wood Group, who will provide detailed engineering, procurement and other services

Reported by: Oilonline, Posted on: 11 Sep 2015

Wood Mackenzie says gasoline surplus after 2017 likely to reverse refinery fortunes

A surplus of gasoline supply globally as early as 2017 is likely to put "significant pressure on refiners by the end of the decade," and bring an end to the current healthy margins, according to energy consultancy Wood Mackenzie's latest long-term oil product market forecast.

Reported by: Platts, Posted on: 24 Aug 2015

Tianjin explosion could be a turning point in China’s corruption crackdown

Tianjin explosion could be a turning point in China’s corruption crackdown

Reported by: The Conversation, Posted on: 17 Aug 2015

DCP Midstream Partners begins processing at Lucerne 2

Lucerne 2 begins natural gas processing operations, announced DCP Midstream Partners, DCP Midstream Partners has announced that its new 200 MMcf/d Lucerne 2 natural gas processing plant is now in service,

Reported by: OilOnline.com, Posted on: 30 Jun 2015

US refineries increase CDU capacity

US refinery capacity reaches 18 MMb/d. Increased refinery runs, based on increases in both capacity and utilization, have helped accommodate increases in US crude oil production. The United States' capacity to refine crude oil into petroleum products, measured as operable atmospheric crude distillation unit (CDU) capacity, increased by 0.2% in 2014, reaching 18 MMb/d according to EIA's recently released annual Refinery Capacity Report.

Reported by: OilOnline Press, Posted on: 26 Jun 2015

European refining margins jump on weak crude oil prices

European refining margins have strengthened further over the past week on slumping crude oil prices and strong Asian and US gasoline demand, with the margin for refining some grades jumping to multi-year highs.

Reported by: Platts, Posted on: 16 Jun 2015

Queensland to get $700m oil refinery

US-based Eagle Ford Oil & Gas Corporation and Australia’s Casper Energy have announced plans to build a $700 million oil refinery in Australia, the Sydney Morning Herald wrote on Monday.

Reported by: The Oil & Gas Year Limited, Posted on: 19 May 2015

Demulsification and the Benefits of Eco-friendly Offshore Waste Management

Urenna Ekeh-Adegbotolu, a researcher at Aberdeen’s Robert Gordon University, is developing a new eco-friendly demulsifier to separate offshore drilling waste into its component parts of oil, water and solids. Ross Davies asks her how the technology could save operators money and improve the sustainability of offshore drilling

Reported by: Offshore Technology, Posted on: 01 Dec 2014

MTBE factor spikes higher on export demand, octane shortage

A shortage of high octane components has seen the MTBE factor -- the ratio of the price of MTBE to Eurobob gasoline barges -- hit its second-highest value on record, according to Platts data.

Reported by: platts.com, Posted on: 06 Nov 2014

NWE naphtha cargoes at 4-year low on weak crude, regional oversupply

Delivered open-specification naphtha cargoes in Northwest Europe tumbled to a four-year low Tuesday as the market tracked weakness in the crude oil complex and regional oversupply continued to prove difficult to clear.

Reported by: platts.com, Posted on: 06 Nov 2014

Asian demand for European, US naphtha set to fall after 2014: Marubeni

Asian demand for imported naphtha from Europe and the US is likely to fall in the coming years as increased supply from the region outstrips demand growth, a senior official from Japan's Marubeni said Monday.

Reported by: platts.com, Posted on: 03 Nov 2014

Taiwan CPC changes domestic low sulfur fuel oil price formula to mitigate basis risk

Taiwan's state-owned CPC has changed the price formula of low sulfur fuel oil it sells to certain domestic buyers, to mitigate some of the losses from the resale of imported LSFO, company sources said late last week. CPC will now price fuel oil it supplies to certain industrial and other buyers based on a combination of its own production cost and import cost, where the price basis will remain as the monthly average of Mean of Platts Singapore 180 CST high sulfur fuel assessments, a Taipei-based company source said.

Reported by: platts.com, Posted on: 15 Sep 2014

Global SBR market holds steady despite weaker feedstock butadiene

Global emulsion styrene butadiene rubber, or SBR, prices were resisting a decline in feedstock costs as European and Chinese producers slashed operating rates amid weak demand and a switch to cheap natural rubber, sources said this week.

Reported by: platts.com, Posted on: 01 Sep 2014

European polystyrene contract prices under pressure from cheaper imports

European general polystyrene August contract prices were under pressure in Europe as cheaper imports are making in-roads into the region, market sources said Tuesday.

Reported by: platts.com, Posted on: 01 Sep 2014

European low density polyethylene prices fall after Sabic lifts force majeure

European low density polyethylene fell by Eur5 ($6.70) week on week to Eur1,335/mt FD NWE Tuesday as Sabic lifted force majeure on LDPE supplies from its 400,000 mt/year plant in Wilton, northeast England, during a seasonal lull and a fall in feedstock prices, sources said.

Reported by: platts.com, Posted on: 01 Sep 2014

Thai PTT Global seeks partner for Indonesia refinery expansion

BANGKOK, Aug 13 (Reuters) - Thailand's PTT Global Chemical Pcl said on Wednesday it is seeking a partner to expand the crude processing capacity of its planned joint petrochemical project with Indonesian state oil and gas firm Pertamina.

Reported by: Reuters, Posted on: 01 Sep 2014

Analysis: Asian paraxylene makers hope cheaper US condensate will boost margins

Asian paraxylene producers, who are suffering from the narrow spread between PX and naphtha as well as between PX and toluene, which were below breakeven levels for the better part of this year, are waiting to see if cheaper condensate can come their way from the US following the shale boom.

Reported by: platts.com, Posted on: 01 Sep 2014

Eni cutbacks bring welcome relief to Europe's oil refiners

MILAN, Aug 8 (Reuters) - Plans by Italian oil major Eni to slash its refining business by more than half could squeeze out a quarter of Europe's refining overcapacity, bringing the ailing sector badly needed relief.

Reported by: Reuters, Posted on: 01 Sep 2014

Vinmar to start supply of 200,000 mt/year Jurong OX from end-Aug

US-based Vinmar International will begin supplying 200,000 mt/year of orthoxylene into Asian markets from end-August, a company source said Friday.

Reported by: platts.com, Posted on: 08 Aug 2014

No major settlement reached for Aug paraxylene Asian Contract Price; 7th month without settlement

Japan's Idemitsu Kosan and JX Nippon Oil and Energy and South Korea's S-Oil have each finished negotiations for the August Asian Contract Price for paraxylene without reaching settlements, sources at the three companies said Friday, August 1. There are four PX ACP sellers in Asia: ExxonMobil, Idemitsu Kosan, JX and S-Oil.

Reported by: platts.com, Posted on: 01 Aug 2014

European xylenes market seen under downward pressure in Aug: sources

The European spot mixed xylene market is likely to remain under downward pressure in August from greater availability, less buying interest due to unfavorable paraxylene production economics and a shut arbitrage to US, market sources said this week.

Reported by: platts.com, Posted on: 01 Aug 2014

Valero second-quarter profit rises

July 30 (Reuters) - Valero Energy Corp, the largest U.S. independent refiner, on Wednesday reported an increase in quarterly profit that met Wall Street expectations as the company processed higher volumes of oil and benefited from bigger discounts for certain grades of crude.

Reported by: Reuters, Posted on: 30 Jul 2014

Benzene's margins in Europe slide on demand slowdown risk

Northwest European benzene's premium over naphtha is coming off the 16-week high hit in the middle of last week despite a bearish naphtha trend, due to the risk of slowing downstream demand and a weakening US market, according to sources.

Reported by: platts.com, Posted on: 30 Jul 2014
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