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Current Downstream Headlines
Outlook & Insights
Storage Figures and their Meanings for Oil Markets
(Thursday, September 02, 2010) Last Wednesday, the Energy Information Administration (EIA) reported the status of weekly petroleum inventories for the week ending August 20th.
The Gas Bulls of Summer Turn into Bears
(Wednesday, September 01, 2010) Recently, the last of the raging bulls on natural gas prices traded in their horns for bear uniforms.
Study Raises Concerns with Rapid E15 Introduction
(Tuesday, August 31, 2010) Various industry groups are urging the Environmental Protection Agency (EPA) to refrain from making a decision on the use of increased levels of ethanol in gasoline until testing on the effects of higher-level blends is complete.
Private Investment Welcome in China's Energy Sector - Up To A Point
(Tuesday, August 31, 2010) Has Beijing had a change of heart in its approach to private sector investment in the nation's energy sector?
A Fuel Smorgasbord For Electricity In Rhode Island
(Tuesday, August 31, 2010) Natural gas has the largest share of electricity's fuel with nuclear power close behind.
Refining
Bear Paw May Start N.D. Gas Plant Construction This Month
(Thursday, September 02, 2010) A natural gas processing plant near Watford City capable of handling 100 million cubic feet per day could be fully operational in December 2011 after the state's Public Service Commission reviewed a letter of intent Tuesday morning.
Swedish Companies Eye Refineries in Georgia
(Thursday, September 02, 2010) Several Swedish companies are interested in preparing a feasibility study to construct refineries in Georgia.
Enterprise Strikes Eagle Ford Midstream Deals with EOG
(Wednesday, September 01, 2010) Enterprise Products Partners L.P. on Wednesday announced that its operating subsidiaries have entered into long-term agreements with EOG Resources, Inc.
Idaho High Court to Hear Mega-loads Case
(Wednesday, September 01, 2010) The Idaho Supreme Court announced Monday it will hear oral arguments on Oct. 1 in a case where four mega-truckloads have been blocked from travelling U.S. Highway 12 from Lewiston to the Montana border.
Judge Gives Ohio Refinery One More Chance
(Wednesday, September 01, 2010) Less than two weeks after threatening to close an East Side oil refinery if its odors continued to sicken neighbors, a Franklin County, Ohio, judge gave the plant another chance Tuesday.
Biofuels
Rentech to Deploy UOP Tech at Calif. Renewable Energy Facility
(Thursday, September 02, 2010) UOP LLC announced Wednesday that its technology was selected for use in Rentech, Inc.'s Rialto Renewable Energy Center for the conversion of biomass to transportation fuels.
Daihatsu, Toyota Labs Develop Gas-Water-Ethanol Minicar
(Tuesday, August 31, 2010) Daihatsu Motor Co. and Toyota Central R&D Labs. Inc. have jointly developed a minicar that runs on gasoline and water-containing ethanol, the automaker said Monday.
Study Raises Concerns with Rapid E15 Introduction
(Tuesday, August 31, 2010) Various industry groups are urging the Environmental Protection Agency (EPA) to refrain from making a decision on the use of increased levels of ethanol in gasoline until testing on the effects of higher-level blends is complete.
Edmonton Biofuels Plant to Use Municipal Waste as Feedstock
(Tuesday, August 31, 2010) Enerkem Inc., a leading waste-to-biofuels company, on Tuesday held a groundbreaking ceremony to signify the start of construction of its municipal waste-to-biofuels facility with its partners.
Propel Wins Grant to Expand Renewable Fuels Stations in Calif.
(Tuesday, August 31, 2010) Propel Fuels announced a $10.9 million grant from the U.S. and California governments to build and operate 75 retail renewable fuel stations throughout the state over the next two years.
Petrochemical
Natural and Synthetic Waxes Market to Hit $11.3B By 2015 – Report
(Thursday, September 02, 2010) With demand for waxes closely linked to economic conditions, the global economic slowdown exerted a significant impact on the supply and demand of waxes.
Air Products to Supply ASU to Sibur
(Thursday, September 02, 2010) Air Products on Thursday announced a contract to supply Voronezhsintezkauchuk, part of Russia and Eastern Europe's leading petrochemical company SIBUR, with a new on-site air separation unit (ASU).
KBR, Saudi Kayan Start Up Grassroots Cracker
(Wednesday, September 01, 2010) KBR on Tuesday announced the start-up of a 1.35 million metric tons per year (KTA) steam cracker at Saudi Kayan Petrochemical Company's (Saudi Kayan) olefins plant located in Saudi Kayan's Petrochemical Complex at Al-Jubail.
Petronas to Acquire BP's Malaysian Ethylene, PE Interests
(Wednesday, September 01, 2010) BP announced Wednesday that it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to Petronas.
Enviro Groups Vie to Intervene in Texas Air Permit Suit
(Tuesday, August 31, 2010) Two environmental groups have filed a motion with a federal court to join the EPA in a legal battle against the State of Texas over air permits.
Pipelines
Summit Starts Up Arlington Gathering Station
(Thursday, September 02, 2010) Summit Midstream Partners, LLC announced Wednesday that its wholly owned subsidiary, DFW Midstream Services LLC ("DFW"), has commissioned the Arlington #1 gathering station with the start-up of an initial 19,800 horsepower of compression.
Enbridge to Expand Athabasca Pipeline Capacity
(Thursday, September 02, 2010) Enbridge Inc. announced Thursday that it will undertake an expansion of its Athabasca Pipeline to accommodate recent shipping commitments by the Christina Lake oil sands project operated by Cenovus.
Nabucco Consortium to Appoint Lender Banks – Sources
(Thursday, September 02, 2010) The Nabucco consortium is set to announce Monday that top international lenders will sign an agreement to take a senior financing role for its planned EUR7.9 billion natural gas pipeline, several people familiar with the matter said Thursday.
GS Wins $620M Abu Dhabi Pipeline Order
(Thursday, September 02, 2010) GS Engineering & Construction Co., a South Korean builder, said Thursday it won a contract valued at US$623 million for engineering and construction work on refinery pipelines in Abu Dhabi.
Enbridge to Reinforce Oil Pipelines in N. Michigan
(Thursday, September 02, 2010) The company responsible for the ruptured pipeline near Marshall plans up to a month of drilling beneath the Straits of Mackinac to reinforce twin crude oil pipelines that cross there.
Terminals & Storage
Perryville Sets Open Season for La. Storage Facility
(Thursday, September 02, 2010) Perryville Gas Storage LLC will hold a non-binding open season to gauge market interest in the remaining available capacity in its 15.0 Bcf interstate natural gas storage facility currently under construction near Delhi, LA.
Teekay Announces Shuttle Tanker Contracts
(Wednesday, September 01, 2010) Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) on Tuesday announced that its 51 percent-owned subsidiary, Teekay Offshore Operating L.P. (OPCO), signed a master agreement with Statoil ASA.
Hess Seeks to Expand Capacity of S.C. Terminal
(Wednesday, September 01, 2010) Energy giant Hess Corp. wants to bring in more of the fuel that powers the colossal commercial ships that steam in and out of the Charleston Harbor.
Magellan Acquires Storage, Pipelines from BP
(Wednesday, September 01, 2010) Magellan Midstream Partners, L.P. (MMP) has completed its acquisition of 7.8 million barrels of crude oil storage and more than 100 miles of active petroleum pipelines from BP Pipelines (North America), Inc. for $289 million.
Spectra Acquires Bobcat Gas Storage Assets
(Tuesday, August 31, 2010) Spectra Energy Corp has completed the previously announced $540 million acquisition of the Bobcat Gas Storage assets and development project (Bobcat) from Haddington Energy Partners III LP and GE Energy Financial Services.
LNG / LPG
Clough Curtain Receives Work Orders for PNG LNG Contract
(Thursday, September 02, 2010) Engineering and construction company Clough Limited on Thursday announced that the Clough Curtain Joint Venture has received firm work orders worth AU$250 Million associated with the Upstream Infrastructure contract awarded on 1 May 2009.
Mitsui O.S.K. Stretches LNG Ship Depreciation Term
(Thursday, September 02, 2010) Japanese shipping company Mitsui O.S.K. Lines Ltd. has extended its depreciation period for LNG (liquefied natural gas) transport vessels to 20 years from 13 at present, a move likely to lift its fiscal 2010 group pretax profit.
W. Australia Govt to Forcibly Acquire Land for Kimberley Gas Hub
(Thursday, September 02, 2010) West Australian Premier Colin Barnett says his government will start the process of compulsory acquisition of land in the Kimberley for a gas precinct.
Browse LNG Work Program Set for 2012 Completion - Woodside
(Thursday, September 02, 2010) Australian oil and gas explorer Woodside Petroleum Ltd says its Browse liquefied natural gas (LNG) development is on track to complete a A$1.25billion (US$1.14 billion) work program by mid-2012.
Hanwha Snags Kuwait LPG Facility Order
(Thursday, September 02, 2010) Hanwha Engineering & Construction Co., a South Korean builder, said Thursday it won a 230 billion won (US$195 million) order to build a liquefied petroleum gas (LPG) facility in Kuwait.
Commodities
CFTC to Propose Dodd-Frank Rules by November - Argus
(Thursday, September 02, 2010) The Commodity Futures Trading Commission (CFTC) expects to issue all proposed rules to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act by Thanksgiving, CFTC general counsel Dan Berkovitz said Wednesday.
Commodity Corner: Oil Up Nearly 3%
(Wednesday, September 01, 2010) Although Hurricane Earl is expected to put a damper on Labor Day travel plans and gasoline demand -- along the East Coast, October crude oil futures surged Wednesday.
Commodity Corner: East Coast Heat, Atlantic Storms Boost Gas
(Monday, August 30, 2010) Above-normal temperatures in the Eastern U.S. and increasing storm activity in the Atlantic gave natural gas futures a boost Monday.
Commodity Corner: Oil Surges Ahead for the Week
(Friday, August 27, 2010) Equities markets rallied Friday after Federal Reserve Chairman Ben Bernanke offered assurances that the U.S. central bank would take aggressive steps if necessary to counteract deflation.
Commodity Corner: Natural Gas Falls Below $4
(Wednesday, August 25, 2010) Unimpressive durable goods figures contributed to a 4% drop in the front-month natural gas price Wednesday.
Finance & Acquisition
Regency Closes on Zephyr Buy
(Thursday, September 02, 2010) Regency Energy Partners LP announced Wednesday it has completed its previously announced acquisition of Zephyr Gas Services, a field services company based in Houston, Texas.
Mitsui O.S.K. Stretches LNG Ship Depreciation Term
(Thursday, September 02, 2010) Japanese shipping company Mitsui O.S.K. Lines Ltd. has extended its depreciation period for LNG (liquefied natural gas) transport vessels to 20 years from 13 at present, a move likely to lift its fiscal 2010 group pretax profit.
Williams Pipeline Partners, Williams Partners Merge
(Wednesday, September 01, 2010) Williams Pipeline Partners L.P. and Williams Partners L.P. announced Tuesday that the WMZ unitholders have approved the proposed merger between the two master limited partnerships and the merger has been completed.
Tokyo Gas to Receive Stake in SRV Joint Ventures
(Wednesday, September 01, 2010) Tokyo LNG Tanker will receive a minority stake of
the shares owned by MOL in the joint-venture companies related to the LNG Shuttle
and Regasification Vessels (SRVs) owned jointly by MOL and Hoegh LNG.
Petronas to Acquire BP's Malaysian Ethylene, PE Interests
(Wednesday, September 01, 2010) BP announced Wednesday that it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to Petronas.
People on the Move
Former GM Chief to Lead SunCoke
(Thursday, September 02, 2010) Sunoco, Inc. announced Thursday that Frederick A. "Fritz" Henderson has joined the company as a senior vice president to help prepare for the previously announced separation of SunCoke Energy from Sunoco.
Takacs to Oversee Ops at DuPont Danisco
(Wednesday, September 01, 2010) Tom Takacs has joined DuPont Danisco Cellulosic Ethanol as Vice President of Operations and
a member of the company's Senior Leadership Team.
Wood Group Names New Legal Chief
(Wednesday, September 01, 2010) Wood Group on Wednesday announced the
appointment of Robbie Brown as Group Head of Legal and Company Secretary.
Brown will be based at the Group's headquarters in Aberdeen.
Letwin to Retire from Enbridge
(Wednesday, September 01, 2010) Enbridge Inc. and Enbridge Energy Partners, L.P. (EEP) on Wednesday announced that Stephen J.J. Letwin has advised that he will retire from his roles with Enbridge and its affiliate companies effective November 1, 2010.
Alvarado Takes Helm at Pipestream
(Tuesday, August 31, 2010) Pipestream Inc. on Tuesday announced the appointment of C. Skip Alvarado as President and CEO.
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