The government of Brazil has purchased US$43 billion in a heavily-subscribed, record-setting $70-billion share offering by Petroleos Brasileiro S.A., (Petrobras), according to recent Bloomberg reports. Petrobras, Latin America’s most highly capitalized firm, sold 2.4 billion shares of common equity to the government and preferred stock worth 1.87 billion to the public, reports stated.

Marathon announced October 6 that it has signed a deal with Acon Investments, LLC and TPG Capital, LP for the sale of most of Marathon's Minnesota downstream assets, including the 74,000 barrel-per-day St. Paul Park oil refinery.

Known for legendary moves as strategic as they are bold, Thomas O’Malley was in the news three times in a handful of days as the refining firms he chairs announced a trifecta of deals that promise to form an even more dynamic independent refining concern in North American markets.

Despite numerous press reports to the contrary, Hart Energy has learned from ExxonMobil Corporation officials on October 5 that "media reports about an ExxonMobil withdrawal from the Japan retail Gas Station business are incorrect."

The news of the sale by Valero Energy Corp. of its Paulsboro refinery to PBF Holdings Co., LLC has spawned announcements by Standard & Poors on their debt ratings, operating earnings estimates, and price targets for the shares of Valero.

On September 23, Bloomberg profiled a report by integrated oil equity analysts at J.P. Morgan & Co. which included a glittering gem of bearish sentiment stating that the “downstream looks destined to become an equity value driver of diminishing relevance.”

In a September 30 release, the U.S. Environmental Protection Agency (EPA) and the U.S. Justice Department announced that BP Products North America Inc. has agreed to pay a proposed US$15-million penalty for Clean Air Act violations at its Texas City, Texas, petroleum refinery. The proposed settlement is both the largest ever assessed penalty for civil violations at a single plant and the largest fine under the act’s chemical accident prevention / risk management regulations.

Flexible permit holders in Texas received an earful during the 2010 Environmental Conference for the National Petrochemical and Refiners Association (NPRA), held September 20 and 21 in San Antonio.

The California Air Resources Board (CARB) announced on October 1 that it’s revising its “low- carbon fuel standard” (LCFS) reporting rules.

A new study by IHS/CERA finds that fuels refined from Canadian oil-sands crude results in only about 6% higher greenhouse gas emissions on a well-to-wheel lifecycle basis compared to fuels refined from the average U.S. crude.

The environmentalist group, Friends of the Earth (FOE), issued a September 23 statement concerning anti-tar sands protestors, who recently confronted President Obama at a Democratic campaign fundraiser in New York City.

According to analysis released September 15 from the National Association of Clean Air Agencies (NACAA), a majority of U.S. states are preparing to begin permitting emissions of greenhouse gases (GHGs) under the Clean Air Act.

As anticipated, the U.S. Environmental Protection Agency (EPA) and U.S. National Highway Traffic Safety Administration (NHTSA) on October 1 announced that they’ve launched a process to impose tougher greenhouse-gas and fuel economy standards for U.S. passenger cars and trucks built in model years 2017 through 2025.

Marathon Oil Corp. has reached an agreement with the U.S. Environmental Protection Agency (EPA) Region 7 to conduct a cleanup study and implement a remedy for groundwater contamination at its former West Sidney Gas Plant in Sidney, Neb., according to a September 29 EPA announcement.

Officials with Murphy Oil Corp. announced September 27 that the company’s wholly owned subsidiary, Murphy Oil USA, Inc. has reached an agreement on a Consent Decree with the Environmental Protection Agency (EPA) that will cover Murphy’s two U.S. refineries in Meraux, La., and Superior, Wisc.

A new study by the Manufacturers Alliance/MAPI that examines the potential costs of the U.S. Environmental Protection Agency’s (EPA) proposal to reduce the ozone standard to between 60 and 70 parts-per-billion (ppb), said the measure would adversely affect the manufacturing sector and domestic economy in general.

Oilmoz CEO Gives Update On Mozambique's Grassroots Refinery, PetroSA and Sinopec are in talks on a refinery in South Africa, the Ivory Coast will see a US$400 million petrol storage expansion, and Sonatrach has selected Technip to rehab the Algiers Refinery

Refinery expansion and grassroot project news came through the wires from seven nations in the Asia-Pacific region.

SOCAR & Turcas Refinery Taps Axens Hydrotreating Technologies

Costa Rica's RECOPE refinery expansion is at the feasibility study stage, and the CEO of Hess continues efforts to stem losses at Hovensa refinery in St. Croix

North Dakota officials are evaluating a consultant’s preliminary report suggesting a new diesel and naptha oriented refinery with a capacity of up to 34,000 barrels per day to process rising unconventional shale oil production in the state, Silver Eagle regains access to it’s Utah refinery after blast, Shell Montreal sees movement in their plan for a Montreal Refinery to Terminal (RTT) Conversion, Citgo finally completes its ULSD upgrades at its Illinois refinery, Valero’s Ardmore Refinery will deploy Struthers Wells components, and Willbros wins an EPC contract for Valero ‘s McKee Refinery.