- Market Focus
- OPEC Holds Output Firm at 160th Meeting
- Downstream M&A Market Active into the Year’s End
- N. Dakota Oil Production Rises to Record High in October
- World Refinery Capacity to Grow Despite Recession - Hart Energy Study
- Downstream Firms Still Accessing Capital Markets
- Energy Demand to Grow by More Than 30% from 2010 and 2040 – ExxonMobil CEO
- Operations
- Canadian Pacific to Expand Saskatchewan Bakken Rail Shipments
- NPRA: Growing U.S. Fuels Exports Benefit America
- Fires Reported at Two Texas Refineries
- U.S. Department of Energy Tracking Crude-by-Rail Increases
- EIA Tallies U.S. Ethanol Production Capacity
- Technology
- AutoNation CEO: Alternative Vehicle Interest Outpaces Purchases
- UOP to Provide Technology to Produce Propylene in China
- Compliance Issues
- Saudis Seek Compensation for Adverse Revenue Affects of Climate Policies
- Canada Exits Kyoto Protocol
- EPA Issues Final Rule for Additional Renewable-Fuel Pathways under RFS2
- Project Updates
- Africa
- Asia - Pacific
- Europe and CIS
- Latin America
- Middle East
- North America
Operations
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Canadian Pacific to Expand Saskatchewan Bakken Rail Shipments
Canadian Pacific (CP) announced December 7 that it is expanding the transportation of crude oil by rail from the Saskatchewan Bakken Formation.
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NPRA: Growing U.S. Fuels Exports Benefit America
Calling it “good news for our nation,” Charles Drevna, president of the National Petrochemical & Refiners Association responded to a new report by the U.S. Energy Information Administration (EIA) that shows growing American exports of petroleum fuels could enable the United States to become a net exporter of refined petroleum products this year for the first time since 1949.
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Fires Reported at Two Texas Refineries
Fires Reported at Two Texas Refineries
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U.S. Department of Energy Tracking Crude-by-Rail Increases
More U.S. crude oil is being shipped by rail, especially from North Dakota where a lack of pipelines has companies relying on tank cars to bring the state's soaring oil production to market. Pipelines remain the most popular transport option, carrying about two-thirds of U.S. oil and petroleum products, but rail is on the rise.
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EIA Tallies U.S. Ethanol Production Capacity
On November 29, the U.S. Energy Information Administration (EIA) released its first ever report on U.S. fuel ethanol plant production capacity.
Technology
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AutoNation CEO: Alternative Vehicle Interest Outpaces Purchases
Interest is high on alternative vehicles, but purchases of the costly vehicles are few, Mike Jackson, CEO of the national automotive retailer, AutoNation, said during a December 5 appearance on the CNBC financial television news network.
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UOP to Provide Technology to Produce Propylene in China
UOP LLC, a Honeywell company, announced November 30 that it has been selected by Zhejiang Shaoxing Sanjin Petrochemical Co., Ltd. to provide key technology to produce propylene in China.
Q&A
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Q&A on Petrobras’ Forward Business Plan
In an exclusive interview, Hart Energy caught up with Paulo Roberto Costa, a member of the executive board and downstream officer for Brazil’s national oil company, Petróleo Brasileiro S.A. (Petrobras), for details on the multi-faceted US$224.7 billion integrated oil and gas investment plan.
Feature
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CME Studying Crude Contract Enabled by Seaway Pipeline
CME Group, the world’s leading and most diverse derivatives marketplace, announced on December 7 that it will discuss with oil market participants the development of a new NYMEX listed Gulf Coast crude oil futures contract at the ECHO Terminal under development by Enterprise Products Partners L.P. and will be fed by the Seaway crude oil pipeline which is in the process of being reversed.
Market Focus
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OPEC Holds Output Firm at 160th Meeting
The 160th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Vienna, Austria, on 14 December 2011 and resulted in a decision to maintain its current production level of 30.0 million barrels per day, including production from Libya, now and in the future.
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Downstream M&A Market Active into the Year’s End
Downstream industry executives and their energy bankers have not been slouching in the last quarter of the year, as evidenced by the wide array of deals that are being announced as upcoming or recently completed.
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N. Dakota Oil Production Rises to Record High in October
Oil production in North Dakota rose 5% in October to a record 488,000 barrels per day (b/d) as the development of shale-oil deposits fuel a supply boom that is reshaping the U.S. crude market.
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World Refinery Capacity to Grow Despite Recession - Hart Energy Study
Major global refining capacity expansion projects scheduled for completion within three-to-five years, totaling 9 million barrels per day, will add to refining industry distillation capacity surplus, according to a new World Refining and Fuels Study (WRFS) 2011 report by Hart Energy, released December 12.
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Downstream Firms Still Accessing Capital Markets
Downstream industry executives and their energy bankers have not been slouching in the last quarter of the year, as evidenced by the wide array of deals that are being announced as upcoming or recently completed.
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Energy Demand to Grow by More Than 30% from 2010 and 2040 – ExxonMobil CEO
Future growth in world energy demand is a cause for optimism because it will signal economic recovery and progress, Rex W. Tillerson, chairman and CEO of Exxon Mobil Corp., said December 6 in Doha, Qatar, where he was addressing the 20th World Petroleum Congress.
Compliance Issues
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Saudis Seek Compensation for Adverse Revenue Affects of Climate Policies
Saudi Arabia’s chief climate negotiator sought compensation from the United Nations’ (UN) Green Climate Fund for the loss of oil revenues anticipated as a result of climate policies, a report from the conference relayed.
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Canada Exits Kyoto Protocol
Canada announced at the Durban climate conference that the North American nation is “pulling out of the Kyoto Protocol on climate change,” according to a December 12 report by the Associated Press which cited comments by Canadian Minister of Environmental Affairs, Peter Kent.
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EPA Issues Final Rule for Additional Renewable-Fuel Pathways under RFS2
On November 30, the U.S. Environmental Protection Agency (EPA) released its direct final rule on additional fuel pathways that the agency has determined to meet life-cycle greenhouse-gas (GHG) reduction requirements for biomass-based diesel, advanced biofuel and cellulosic biofuel under the Renewable Fuel Standard (RFS2).
Project Updates
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Africa
Africa Project Updates
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Asia - Pacific
Project updates for the Asia-Pacific region.
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Europe and CIS
Europe and CIS project updates
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Latin America
Latin America Project Updates
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Middle East
Middle East Project Updates
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North America
Two refinery expansion projects, a refinery restart, and one shutdown shows the economic and job-related advantages (or disadvantages) of being located in (or out of) crude-production regions. The same holds for chemical plants being built near new sources of shale gas.
