Midstream & Downstream
Venezuela struggles with huge oil export backlog
Venezuela is nearly a month behind delivering crude to customers from its main oil export terminals, according to shipping data, as chronic delays and production declines could breach state-run PDVSA’s supply contracts if they are not cleared soon. Read Full Article Here: https://www.reuters.com/article/us-venezuela-pdvsa/venezuela-struggles-with-huge-oil-export-backlog-idUSKCN1J22X9
China’s Sinopec is reportedly planning to cut Saudi oil imports due to price rises
China’s Sinopec plans to cut Saudi crude oil imports loading in May by 40 percent, an official from the company’s trading arm Unipec said. Read Full Article Here: https://www.cnbc.com/2018/04/10/sinopec-to-cut-saudi-crude-imports-for-may-in-response-to-high-osps.html
How soaring US oil exports may derail the crude rally, an energy expert says
he U.S. is exporting crude oil at a record pace with no signs of slowing down. That has the potential to unbalance a global oil market in recovery, says energy expert Tom Kloza. “The exports are what we need to focus on through the next 30 days,” Kloza, co-founder of the Oil Price Information Service, told CNBC’s “Futures Now” last week. High U.S. production could decide how oil prices trade in the second half of this year and through 2019, he added. Domestic exports have not dipped below 1 million barrels a day since late November, as U.S. oil producers fill the void left by reduced capacity from Mexico and Venezuela. Higher demand for petroleum and gasoline in South America has also boosted appetite for North American oil. U.S. crude oil exports rose to 2.17...
Port Author Texas May Add 600,000 barrels-per-day Processing Capacity
Port Author, Texas is may be adding over 600,000 barrels-per-day to their crude oil processing capacity. According to a recent Reuters article Motiva Enterprises is studying an expansion of its Port Arthur, refinery to more than double its current 603,000 barrel-per-day (bpd) crude oil processing capacity, Motiva Chief Executive Brian Coffman said on Saturday. The company is considering boosting the refinery’s capacity to between 1 million and 1.5 million bpd, Coffman said. The Motiva Port Arthur refinery is currently the country’s largest in capacity. Read Full Article Here: https://www.reuters.com/article/us-refinery-operations-motiva-expansion/motiva-mulls-doubling-of-port-arthur-texas-refinerys-capacity-ceo-idUSKBN1HF00E
India’s top refiner plans $22 billion expansion over five years
Indian Oil Corp plans to invest 1.43 trillion rupees ( billion) in next five years as the country’s top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030, its head of refineries said on Saturday. Read Full Article Here: https://www.reuters.com/article/us-india-ioc/indias-top-refiner-plans-22-billion-expansion-over-five-years-idUSKBN1H70CW
Top India Refiner Considers Investing $3.5 Billion to Expand
India’s biggest oil refiner Indian Oil Corp. is planning to invest as much as .5 billion in the year beginning April 1, or about a fifth more than the previous year, to expand and upgrade its refineries and boost its marketing network, according to people with knowledge of the matter. Read Full Article Here: https://www.bloomberg.com/news/articles/2018-03-22/top-india-refiner-said-to-mull-investing-3-5-billion-to-expand
OPEC Curbs Oil Shipments To U.S. Refiners
U.S. refiners are receiving smaller shipments of oil from members of the Organization of Petroleum Exporting Countries (OPEC) due to the bloc’s production cut agreement, according to a new report by Bloomberg. Weekly crude imports from seven bloc nations dropped by 14 percent last week, the Energy Information Administration said. The fall brings import levels down to the lowest since 2010, when the agency first started collecting weekly data. Ecuador cut shipments to the United States by 86 percent and Kuwait cut exports by 58 percent, week-over-week.… Read Full Article Here: https://oilprice.com/Energy/Crude-Oil/OPEC-Curbs-Oil-Shipments-To-US-Refiners.html
European traders store gasoline on tankers as glut looms
Traders are storing gasoline on tankers off Europe’s coast as they struggle to contain a steady rise in supplies since the start of the year that has weighed on prices. Read Full Article Here: https://www.reuters.com/article/gasoline-storage/european-traders-store-gasoline-on-tankers-as-glut-looms-idUSL8N1QX6OX
DowDuPont, soon to be 3 companies, reveals names of the 3 spinoff businesses
• Agriculture Division to be Corteva Agriscience™, reflecting its purpose of enriching the lives of those who produce and consume • Materials Science Division will be called Dow, and will retain the Dow diamond as its brand, building on the Company’s globally recognized 121-year history of innovation and value creation • Specialty Products Division to be the new DuPont, carrying forward a 215-year legacy of science based innovation to transform industries and everyday life • DuPont, as an institution in Delaware, will remain. The recently-merged DowDuPont announced on Monday the names of its three forthcoming spinoffs. MIDLAND, Mich., and WILMINGTON, Del., February 26, 2018 – DowDuPont™ (NYSE:DWDP) today announced the corporate brand names that each of its divisions plans to assume once th...
Don’t let corrosion put holes in your net gains
Corrosion has an enormous economic impact around the globe, with corrosion costs to the oil and gas industry alone reaching 6 billion dollars annually. Corrosion-related failures—such as leakages and containment problems—often have consequences to health, safety and the environment, which can compound costs and, in the worst circumstances, even lead to fatalities. To combat corrosion, companies invest substantially in materials and technology, but getting access to up-to-date scientific and engineering information is one of the very best strategies for reducing corrosion risks. By clicking on the link below you will learn about: – The most common causes of corrosion in the oil and gas industry – The importance of interdisciplinary information in corrosion management and for dev...
New warnings on liquified natural gas infrastructure
A company planning to export liquefied natural gas from the Gulf Coast will warn lawmakers this morning that surging U.S. gas production could become “stranded” absent bigger investment in pipeline and LNG infrastructure. On the record: In testimony prepared for a House Natural Resources Committee hearing today on the geopolitics of LNG, Tellurian president Meg Gentle says the government plays a key role in both laying the infrastructure groundwork for exports and offering a supportive and efficient regulatory environment… Read Full Article Here: https://www.axios.com/new-warnings-on-liquified-natural-gas-infrastructure-bbbf3665-df43-4760-93d3-8ece013bd549.html
U.S. Oil Exports Go Up a Gear as Supertanker Sets Sail for China
The flood of U.S. oil exports stepped up a gear on Monday after the first fully laden supertanker sailed from an American port, alleviating a bottleneck that’s limited overseas shipments. Read Full Article Here: https://www.bloomberg.com/news/articles/2018-02-19/u-s-oil-exports-go-up-a-gear-as-supertanker-sets-sail-for-china
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