Industry News

Ukraine winter season gas reserves rise to 17.8 bcm

Ukraine had stored 17.8 billion cubic meters (bcm) of gas by Aug. 25, as the country looks to stockpile at least 20 bcm for the 2019/20 heating season, gas transport company Ukrtransgaz said.

Biofuel credit surplus could blunt RIN price impact

A big surplus of U.S. biofuel blending credits would likely blunt potential price increases in the market if the Trump administration follows through on its proposal to boost blending volumes mandates, four industry sources said.

Kenya's first crude oil export sparks demands over revenue sharing

Kenya exported its first crude oil amid pointed speeches by local leaders asking the government to stick to its commitment to share revenues from future shipments equitably.

BP to quit Alaska after 60 years with $5.6B sale

British oil major BP Plc agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.

New Permian Pipeline Startup Splits WTI Midland Market

WTI Midland crude prices at Plains All American Pipeline LP’s Midland terminal spiked this month compared with barrels traded at Enterprise Products Partners LP’s Midland terminal as Plains’ Cactus II pipeline began service, oil traders familiar with the matter said.

Clock ticking on Guyana election

South America's most exciting new province has yet to call an election, despite first oil rapidly approaching

China looks west to solve energy riddle

Xinjiang has potentially huge untapped reserves, but exploration in the desert province presents complex geological and political challenges

Permian pipelines bring relief—and challenges

Two major new crude pipelines out of the Permian Basin entered service this month, but while this provides some relief to producers, it shifts the congestion to the Gulf Coast

Gas processing innovations spur increased deployments

LNG technologies, such as floating LNG (FLNG) innovations, driven by its shorter construction lead times and lower capital investment costs, are increasingly becoming a viable option for increased gas deployments.

Commonwealth LNG file formal FERC Application for Louisiana export terminal

Commonwealth LNG filed a formal application to FERC for permission to build an 8.4 MMtpy export terminal and interconnecting 3 mile long 30 inch feedgas pipeline, with project budget of $4 billion.

First phase of LNG-to-power complex draws $750M financing

EIG Global Energy Partners (“EIG”), controlling shareholder ofPrumo Logística S.A. (“Prumo” or the “Company”), a private Brazilian company leading the energy infrastructure hub at Port of Açu, announced major developments at Prumo.

US refiners limit crude processing amid slack fuel demand

U.S. refineries have cut the volume of crude processed so far this year, but stocks of gasoline and distillates remain ample, highlighting the slack demand for transportation fuels.

Honeywell technology selected for integrated petrochemicals facility

Honeywell announced that PetroChina Guangdong Petrochemical Company will adopt advanced heavy oil processing technology from Honeywell UOP for its integrated petrochemical complex in China.

Mammoet design input delivers maximum efficiency

As one of the largest crude oil processing locations in Germany, every hour of downtime at PCK Raffinerie GmbH’s (PCK) Schwedt refinery has a significant impact

China's petrochemical expansion to overwhelm Japan, South Korea producers

A massive surge in China’s manufacturing capacity for paraxylene, a petrochemical used to make textile fibers and bottles, could force leading exporters in Japan and South Korea to cut production as early as the second quarter of 2020.

Glencore, BP stuck with tainted Russian crude

BP and Glencore are struggling to sell around 600,000 tons of tainted Russian oil more than three months after the contamination was discovered, according to six trading sources.