80% of the imported Canadian oil is heavy oil According to EIA data, in 2017, the United States imported approximately 7.969 MMBOPD of all grades of crude oil from about 80 countries. The EIA calculates that 3.117 MMBOPD came from OPEC countries and 3.446 MMBOPD came from Canada in 2017. According to a new report out today from IHS Markit, U.S.
Inter Pipeline Announces Capital Expenditure Program for 2019
From USA TODAY Gasoline prices are expected to plunge sharply in the final days leading up to the midterm elections, potentially nearing $2 per gallon at some stations in low-tax states. The sudden respite at the pump comes from sharply lower oil prices and declining wholesale gasoline prices. Oil Price Information Service analyst Tom Kloza said it could amount to
Exxon expansion plans would yield total refining capacity of ~665,000 BPD – with FID, Beaumont would become largest U.S. refinery From Reuters HOUSTON (Reuters) – Exxon Mobil Corp has begun groundwork at a Texas refinery that would become the largest in the United States in advance of a final investment decision on the expansion, three sources familiar with Exxon’s plans
Houston ship channel location “could make a lot of sense” From the Houston Chronicle Chevron said Wednesday it’s interested in either buying or building an oil refinery in the Houston area to process its booming production from West Texas’ Permian Basin. Chevron is the nation’s second-largest energy company, but it doesn’t have any Texas refineries. Outside of the West Coast,
From the Pittsburgh Business Times Work continues to ramp up at Shell’s petrochemical plant being built in Beaver County, with about 50 cranes on the site, including some of the world’s largest. There are so many cranes that they all can’t be seen in one view on the site, said Michael Marr, Shell’s business integration lead who provided an update on
From FreightWaves Let’s hear it for precision railroading. That’s the message of a recent report by Moody’s Investors Service, one of the leading debt rating agencies, about the system pioneered by the late Hunter Harrison at Canadian Pacific (NYSE: CP) and now being implemented at CSX (NYSE: CSX) . As the report notes, with it also in place at Canadian
RIN tracking for oil refineries, and waivers for economic harm to small refineries From Bloomberg President Donald Trump’s Environmental Protection Agency is taking a step to boost transparency for the country’s ethanol mandate, a move that could draw rare mutual applause from both farmers and oil refiners. On Thursday, the EPA unveiled a website that tracks prices for Renewable Identification
At special meetings today, shareholders of both Marathon Petroleum Corp. (NYSE: MPC) and Andeavor (NYSE: ANDV) voted to approve the strategic combination of MPC and Andeavor. MPC shareholders approved the issuance of shares of MPC common stock and Andeavor shareholders approved the adoption of the previously announced agreement and plan of merger. MPC’s proposal to issue shares in connection with
U.S. chemical, plastics plant investment of $202 billion is direct result of shale gas growth: ACC The American Chemistry Council (ACC) released data today and the trade group has determined that U.S. chemical and plastics industry investment linked to plentiful and affordable domestic supplies of natural gas and natural gas liquids (NGLs) from shale has surpassed $200 billion. Summary: Since 2010,
From gCaptain/Reuters (Reuters) – Global energy trader Gunvor Group has put on hold plans to upgrade its Rotterdam refinery that intended to make the plant more competitive ahead of new global rules on shipping fuel quality, it said on Tuesday, citing market conditions. Global oil and shipping companies are looking at options to cope with the new standards that come
For the week ending July 6, 2018, the four-week average of U.S. gross refinery inputs surpassed 18 million barrels per day (b/d) for the first time on record. U.S. refineries are running at record levels in response to robust domestic and international demand for motor gasoline and distillate fuel oil. Despite record-high inputs, refinery utilization as a percentage of capacity
