From Reuters BAGHDAD (Reuters) – Iraq plans to build an oil refinery at the port of Fao on the Gulf with two Chinese companies, and is seeking investors to build three more, the oil ministry said on its website on Monday. The refinery in Fao will have a 300,000 barrel-per-day capacity and include a petrochemical plant, it said. Two other
PES said the cost of RINs in 2017 alone was $218 million, more than every cost besides crude oil Company invested in a new North Dakota rail terminal to benefit from discounted Bakken crude prices From Reuters NEW YORK (Reuters) – Philadelphia Energy Solutions, owner of the largest U.S. East Coast refinery, said on Monday its plan to get out
CB&I (ticker: CBI) won a contract for more than $95 million from the Aramco-Shell JV – Saudi Aramco Shell Refinery (SASREF). The scope of work includes the engineering, procurement and construction management for SASREF’s modernization and expansion of its existing refinery in Al-Jubail city, Saudi Arabia. “The relationship between CB&I and SASREF extends back for more than a decade, and
Refineries may show the way in an environment totally focused on returns E&P investors are shifting priorities, and are beginning to reject “growth for growth’s sake” in favor of shareholder returns. Cash returns are elusive in a capital-intensive industry, though, and the route to returns is unclear. According to analysts at Cowen, E&Ps would do well to look at another
First polyethylene shipment from mega-plant is slated for export from Houston in October ExxonMobil (ticker: XOM) Chemical Company started production on the first of two new 650,000 tons-per-year high-performance polyethylene lines at its plastics plant in Mont Belvieu, Texas. The full project, part of the company’s multi-billion dollar expansion project in the Baytown area and ExxonMobil’s broader Growing the Gulf expansion
Offshore and on-shore upstream production operating normally: Exxon In a post-Harvey update, ExxonMobil (ticker: XOM) reported that its Baytown and Beaumont refineries have begun producing fuels at reduced rates, and that crude oil and refined product pipelines in the Gulf and other regions of Texas have restarted as recovery continues from Hurricane Harvey. Offshore production platforms in the Gulf of Mexico
15 out of 20 refineries are back to normal levels after Harvey; Irma-caused power outages interrupted natgas demand The impacts of Hurricane Harvey are slowly fading, as companies work to bring operations back to normal. Hurricane Harvey plowed into the heart of the U.S. refining industry, forcing many large facilities offline. According to IHS, 20 refineries were significantly affected. Some
Delivering to 8 states – Nuevo Leon, Coahuila, San Luis Potosi, Veracruz, Mexico State, Guanajuato, Tamaulipas and Queretaro BP Energía México, BP’s natural gas marketing and trading arm in Mexico, has started to deliver approximately 200,000 mmbtu/d of natural gas to industrial users, local distribution companies and independent power producers in eight states in Mexico. BP said in a press
Hurricane Harvey, which is expected to make landfall around one o’clock in the morning on Saturday, August 26, may have an impact on the near-term energy outlook for the U.S. As of now, Harvey is classified as a Category-2 storm and is expected to be re-characterized to a Category-3 storm around the time it makes landfall. The last Category-3 hurricane
CorEnergy Infrastructure Trust, Inc. (ticker: CORR) holds the unique position of being the first publicly listed Real Estate Investment Trust that has a focus specifically in energy infrastructure. The company owns midstream and downstream assets, including pipelines, storage terminals, and distribution facilities. CorEnergy’s assets provide stable cash flows, on long-term assets, with little sensitivity to variations in commodity prices. The
Blueknight Energy Partners (ticker: BKEP) portfolio encompasses crude oil transportation pipelines, gathering systems, crude transport trucks, asphalt cement and residual fuel oil storage. Its assets and infrastructure span the United States. Blueknight Owns 6.6 MMBO crude storage at Cushing, 9.6 MM barrels of asphalt storage In storage alone, Blueknight holds 6.6 million barrels of crude oil and petroleum storage capacity
Week of May 26 set new record U.S. refineries are breaking records processing crude oil this year but crude inventories are still high, according to a note released by the EIA Tuesday. According to the EIA, gross inputs to U.S. petroleum refineries, known as refinery runs, averaged 17.7 MMBOPD in the week ending May 26. This is an all-time high,
