- Key Market Prices
- Key Market Prices
- Public Policy
- Refineries on Notice by U.S. EPA’s Superfund Law
- Margins & Economics
- U.S. Gulf Coast Crack Spread Down 12%; New York Falls 6%
- Isobutane Up 8%; MTBE Up 4.5%
- Commodities Prices Up As Year Ends; Brent Crude Nears US$80 Mark
- Fuels & Processing
- Hellenic Refinery Near Athens Installing Integrated Power and Automation System
- SABIC and Linde Commercialize Linear Alpha Olefins Technology
- Targa Resources to Expand NGL Production Capacity in Mont Belvieu
- Shell’s Voser: Pressure on Refining Margins; 2010 Will Be ‘Challenging’
- Rompetrol Group to Up Capacity by 25% at Petromidia Refinery
- Transportation & Logistics
- Saab Confirms Production to Restart in January; GM Extends Deadline Past Dec. 31
Fuels & Processing
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Hellenic Refinery Near Athens Installing Integrated Power and Automation System
Greek refinery plans to improve reliability and efficiency with an integrated power and automation system. Hellenic Petroleum’s Elefsina refinery plans to finish the project in 2010 with the help of ABB Automation.
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SABIC and Linde Commercialize Linear Alpha Olefins Technology
Commercialization of linear alpha olefins technology jointly developed by Saudi Basic Industries Corp. (SABIC) and The Linde Group will open the door to new market segments for SABIC. The two companies also plan to license the technology to third parties.
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Targa Resources to Expand NGL Production Capacity in Mont Belvieu
Representatives with Targa Resources Partners announce plans to expand their natural gas liquids production capacity at Mont Belvieu, Texas, through an expansion at the company’s Cedar Bayou fractionation facility. The project is expected to be supported by a long-term, firm space fractionation agreement with ONEOK Partners LP.
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Shell’s Voser: Pressure on Refining Margins; 2010 Will Be ‘Challenging’
In a video message to employees worldwide, Peter Voser, chief executive officer of Royal Dutch Shell, said there will continue to be pressure on refining margins and costs in 2010 as the economy will remain “challenging.”
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Rompetrol Group to Up Capacity by 25% at Petromidia Refinery
Representatives with the Rompetrol Group N.V. said in a Dec. 22 press release they will continue to consolidate and develop the company’s activities in the 12 countries where it operates in 2010, including increase the processing capacity of its Petromidia refinery in Romania by about 25%.
Feature
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Midstream Gas Processing Expected to Increase in 2010
Midstream gas processing in 2010 is expected to expand throughout the world, because it is now more feasible to monetize more gas-bearing formations due to market demand and improvements in technology.
Key Market Prices
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Key Market Prices
Transportation & Logistics
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Saab Confirms Production to Restart in January; GM Extends Deadline Past Dec. 31
General Motors has extended a Dec. 31 deadline for bids for its Swedish car brand Saab, which will restart some production lines in January after a shutdown, Saab representatives said Dec. 30, according to Reuters.
Margins & Economics
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U.S. Gulf Coast Crack Spread Down 12%; New York Falls 6%
The 3-2-1 crack spread for the Gulf Coast experienced a 12% decline from US$6.63 per barrel (/bbl) to $5.82/bbl for the holiday week ending Dec. 23, and the New York 3-2-1 crack spread fell 6% from $7.33/bbl to $6.88/bbl for the same period.
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Isobutane Up 8%; MTBE Up 4.5%
MTBE dropped 10¢ from Dec. 23 settling Dec. 30 at US$2.30 per gallon (/gal). The price of n-Butane remained flat at $1.48/gal for the same reporting periods. Ethanol increased 3¢ to $1.59/gal, and isobutane rose by 15¢ to $1.72/gal. Benzene increased by 40¢ to $3.40/gal, while other aromatics prices stayed relatively flat.
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Commodities Prices Up As Year Ends; Brent Crude Nears US$80 Mark
The price of Brent crude for February delivery closed Dec. 30 at US$78.03 per barrel (/bbl), up 39¢ from the Dec. 29 close. West Texas Intermediate crude for February delivery closed 41¢ higher, settling at $79.28/bbl.
Public Policy
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Refineries on Notice by U.S. EPA’s Superfund Law
Officials with the U.S. Environmental Protection Agency on Dec. 30 announced they have identified three additional industry sectors for which they will begin the regulatory development process for any necessary financial assurance requirements: the chemical manufacturing industry; the petroleum and coal products manufacturing industry, which primarily includes refineries and not coal mines; and the electric power generation, transmission and distribution industry.
