Refining

Limetree Bay refinery to shut indefinitely after just a few months of operating

Limetree Bay Energy will shut its St. Croix refinery indefinitely due to financial problems, the company said Monday, after a series of operational setbacks shuttered the facility.

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  • June 22 @ 8:11 am

It’s too late to avoid a major oil supply crisis

There are a number of observable trends in oil supplies and by extension prices, presently. I am going to discuss one of them in this article. A lack of capital investment in finding new supplies of oil and gas.

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  • June 22 @ 6:30 am

WTI-Brent spread narrows as oil market tightens

The price gap between the world’s two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that U.S. oil output is still in the COVID-19 doldrums with the market likely to remain undersupplied.

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  • June 21 @ 12:07 pm

Magellan and Enterprise team up with Intercontinental Exchange for new Houston crude oil futures contract

Magellan Midstream Partners, L.P., Enterprise Products Partners L.P. and Intercontinental Exchange, Inc. announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area.

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  • June 21 @ 11:22 am

Oil Demand to Surpass Pre-Pandemic Levels in 2022

GALWAY, IRELAND–June 21, 2021–Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)–Global oil demand is set to bounce back stronger than ever by next year according to the International Energy Agency (IEA). Within this article: Details recovery of oil sector demand, depressed refining outlook, uneven recovery across regions and products

  • Industrial Info – Refining
  • June 21 @ 12:40 am

BASF advances chemical recycling program with UL validation

BASF is implementing innovative chemical processes that convert some waste streams into new, valuable raw materials.

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  • June 18 @ 8:00 am

The solar energy segment looks set to continue its expansion

Solar energy is expected to play an increasingly important role in the global energy infrastructure, according to a research report by Mordor Intelligence LLP.

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  • June 18 @ 6:30 am

South Korea’s Hyundai Oilbank to Spend $547 Million on Refining Projects

KOFU, JAPAN–June 18, 2021–Researched by Industrial Info Resources (Sugar Land, Texas)–Hyundai Oilbank Company Limited (Daesan, South Korea), one of the largest oil refiners in South Korea, plans to spend more than $546 million on 32 projects, including plant maintenance, unit-addition, equipment-addition, revamp, upgrade and environmental-compliance projects.

  • Industrial Info – Refining
  • June 18 @ 12:25 am

Lukoil’s Nizhny Novgorod refinery starts up new isom plant

  • Oil & Gas Journal
  • June 17 @ 7:00 pm

N. American oil service firms’ pricing and hiring on the upswing

U.S. crude production, which plummeted during the coronavirus pandemic, is ticking back up, despite generally flat spending by oil and gas producers.

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  • June 17 @ 9:02 am

BASF, U.S. Refinery Utilization Up: Your Daily Energy News

We have handpicked and summarized a selection of energy-related news stories that we think will interest clients of Industrial Info and IIR Energy.

  • Industrial Info – Refining
  • June 17 @ 1:35 am

Covenant Energy plans renewable diesel refinery in Saskatchewan

  • Oil & Gas Journal
  • June 16 @ 7:00 pm

U.S. judge orders resumption in federal drilling auctions in setback for Biden

A federal judge in Louisiana has blocked the Biden administration’s pause on oil and gas leasing on public lands and waters, dealing a setback to a key White House effort to address climate change.

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  • June 16 @ 8:04 am

Equinor awards Subsea Integration Alliance EPCI contract for Bacalhau

Houston-based Schlumberger announced Tuesday an award to Subsea Integration Alliance of a large contract by Equinor on its Bacalhau project offshore Brazil.

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  • June 16 @ 6:30 am

Sinopec refineries add fresh alkylation capacity

  • Oil & Gas Journal
  • June 15 @ 7:00 pm

Lake Charles fire partly to blame for ‘worst chlorine shortage the country has ever seen’

A fire last August in south Louisiana during Hurricane Laura is being blamed in part for creating “the worst chlorine shortage the country has ever seen”—much to the dismay of swimming pool owners, The Washington Post reports.

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  • June 15 @ 9:00 am

Ara Partners acquires Anesco Holdings, parent co. of UK’s renewable energy Anesco Group

Houston-based Ara Partners, an industrial decarbonization-focused private equity firm, announced that it has acquired Anesco Holdings, the parent company of the Anesco Group.

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  • June 15 @ 6:30 am

Germany’s Government Earmarks 8 Billion Euros for Hydrogen Projects

NEW DELHI–June 15, 2021–Researched by Industrial Info Resources (Sugar Land, Texas)–In late May, Germany’s federal economics and transport ministries announced the selection of 62 state-funded large-scale hydrogen projects as part of a joint European program to achieve carbon neutrality.

  • Industrial Info – Refining
  • June 15 @ 12:35 am

Raízen lets contract for Buenos Aires refinery

  • Oil & Gas Journal
  • June 14 @ 7:00 pm

Magellan Midstream announces sale of independent terminals

Magellan intends to use the proceeds from this transaction consistent with its stated capital allocation priorities.

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  • June 14 @ 3:01 pm

Explosion, Fire at Grease Manufacturing Plant in Illinois Causes Mile-Wide Evacuation

SUGAR LAND–June 14, 2021–Researched by Industrial Info Resources (Sugar Land, Texas)–A large fire that erupted Monday morning at a Chemtool Incorporated grease manufacturing plant in Rockton, Illinois, resulted in an evacuation within a one-mile radius of the plant site. Companies featured: Berkshire Hathaway Company (NYSE:BRK.A)

  • Industrial Info – Refining
  • June 14 @ 12:40 pm

Explosion, Fire at Grease Manufacturing Plant in Illinois Causes Mile-Radius Evacuation

SUGAR LAND–June 14, 2021–Researched by Industrial Info Resources (Sugar Land, Texas)–A large fire that erupted Monday morning at a Chemtool Incorporated grease manufacturing plant in Rockton, Illinois, resulted in an evacuation within a one-mile radius of the plant site. Companies featured: Berkshire Hathaway Company (NYSE:BRK.A)

  • Industrial Info – Refining
  • June 14 @ 12:40 pm

Shell weighs blockbuster sale of Texas shale assets

Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, reports Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions.

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  • June 14 @ 8:11 am

Canada’s Alberta Province is Feeling Blue — for Hydrogen

SUGAR LAND–June 14, 2021–Researched by Industrial Info Resources (Sugar Land, Texas)–In the race to decarbonize, not everybody sees green when it comes to hydrogen. While the idea of “green hydrogen” is attracting a lot of attention in the fight against climate change, Canada is betting on “blue hydrogen” in its drive to achieve net zero […]

  • Industrial Info – Refining
  • June 14 @ 1:50 am

Indian Oil lets contracts for new units at Barauni, Haldia refineries

  • Oil & Gas Journal
  • June 13 @ 7:00 pm

NexTier announces successful field test of natural gas-powered eFrac engines

NexTier Oilfield Solutions Inc. announced that it successfully field tested the NOV Ideal eFrac pump with power sourced from multiple natural gas reciprocating engines.

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  • June 13 @ 6:30 am

Schlumberger and Panasonic Energy collaborate on new lithium production process

Houston-based oil field services giant Schlumberger and Panasonic Energy of North America will collaborate on a new battery-grade lithium production process to be used by Schlumberger New Energy at its Neolith Energy pilot plant in Nevada.

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  • June 12 @ 6:30 am

Biden considers giving refiners relief from U.S. biofuel laws, sources say

President Joe Biden’s administration, under pressure from labor unions and U.S. senators including from his home state of Delaware, is considering ways to provide relief to U.S. oil refiners from biofuel blending mandates.

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  • June 11 @ 3:09 pm

Ascend expands HiDura LCPA production capacity

Ascend Performance Materials has expanded production capacity for HiDura long-chain polyamides in its Greenwood, S.C., plant.

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  • June 11 @ 6:30 am

Occidental Petroleum hones in on divestment goal with $508M deal

Houston-based Occidental Petroleum continues its divestment campaign with a new  $508 million deal to sell Permian Basin acreage to Colgate Energy Partners III LLC, a Midland, Texas-based oil and gas producer.

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  • June 10 @ 5:17 pm

Developer officially cancels Keystone XL pipeline project

A $9 billion oil pipeline that became a symbol of the rising political clout of climate change advocates and a flash point in U.S.-Canada relations was officially canceled on Wednesday.

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  • June 10 @ 11:50 am

Brightmark to invest $680M in world’s largest advanced plastics recycling facility

Brightmark, the global waste solutions provider, announced that it will build the world’s largest advanced plastics recycling and renewal facility in Macon-Bibb County, Georgia.

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  • June 10 @ 6:30 am

Brazilian regulators approve Petrobras’s proposed RLAM refinery sale

  • Oil & Gas Journal
  • June 9 @ 7:00 pm

Indorama Ventures to develop new IOD research center in The Woodlands, Texas

Indorama Ventures Public Company Limited, a global petrochemical producer, has started developing a new technology center under its Integrated Oxides & Derivatives (IOD) business at The Woodlands, Texas.

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  • June 9 @ 10:40 am

Biden suspends oil and gas leases in ANWR

The action reverses efforts to expand fossil fuel development in the United States, and delivers a setback to the Alaskan state government which had hoped opening the enormous refuge would help revive its declining oil industry.

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  • June 9 @ 7:00 am

U.S. power use to rise in 2021 as governments ease lockdowns -EIA

U.S. power consumption will rise 2.0% this year as state and local governments ease coronavirus lockdowns, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO).

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  • June 9 @ 6:30 am

Plains All American to sell natural gas assets to Hartree for $850M

Houston-based Plains All American has reached a deal to sell its Pine Prairie and Southern Pines natural gas storage facilities to an affiliate of Hartree Partners for $850 million.

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  • June 8 @ 4:23 pm

Contango Oil & Gas to merge with Independence Energy

Contango Oil & Gas Co. will merge with Independence Energy, LLC, an upstream oil and gas business built and managed by KKR’s Energy Real Assets team.

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  • June 8 @ 11:02 am

Enbridge announces $1.14 billion sale of its financial interest in Noverco

Sale proceeds will initially be used to repay short term debt, and on this conservative basis the transaction is expected to be neutral to distributable cash flow per share.

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  • June 8 @ 9:14 am

North American Planned Petroleum Refinery Turnaround Activity Increases for 2021

SUGAR LAND–June 8, 2021–Researched by Industrial Info Resources (Sugar Land, Texas)–Planned maintenance turnaround activity for North America in 2021 will slightly increase over the previous year, by roughly 2%, to 589 offline events, with gains in total offline activity in Mexico and the U.S.

  • Industrial Info – Refining
  • June 8 @ 1:40 am

Cryopeak LNG Solutions announces new production facility

Cryopeak LNG Solutions Corporation, a Richmond, BC based company, has announced the commencement of operations at its new liquefied natural gas (LNG) production facility in Fort Nelson, BC.

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  • June 7 @ 11:28 am

Energy giant Total rebrands in shift to renewables

Paris-based energy giant Total made it official at its recent shareholders meeting and changed its name to TotalEnergies in a strategic effort to identify as a broad energy company.

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  • June 7 @ 10:55 am

Effective project management ensures smooth turnarounds

Have you ever pulled up to a gas pump and stepped out of your car only to realize your gas cap is on the other side? How frustrating. Now imagine you are pulling into a congested petrochemical plant driving a flatbed tractor-trailer.

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  • June 7 @ 9:02 am

PRI launches website to make case for increased energy competition

Aiming to provide market-based analyses and perspective to educate about policies impacting competitive electricity markets, the PRI – a California-based, nonpartisan, free-market think tank – launched the “Electricity Reality Report.”

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  • June 7 @ 6:30 am

Stabilis acquires LNG production facility in Port Allen, Louisiana

Stabilis Solutions, Inc., a leading provider of energy transition services, announced the acquisition of an LNG production facility in Port Allen, Louisiana from HR Nu Blu Energy, LLC.

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  • June 4 @ 2:20 pm

New report says Biden energy policy is misleading and unattainable

Recent experiences in three states provide an insight into how problematic President Joe Biden’s push for renewable energy could be for electric customers nationwide, according to a new report from Power the Future.

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  • June 4 @ 9:41 am

Enable Midstream announces FERC approval of the Gulf Run Pipeline project

Enable Midstream Partners, LP announced that the Federal Energy Regulatory Commission (FERC) has granted approval to construct and operate the Gulf Run Pipeline project under section 7(c) of the Natural Gas Act.

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  • June 4 @ 8:54 am

IEA Report Projects Surge in Low-Carbon Investment in 2021 Offset by Rising Spending for Fossil Fuels

SUGAR LAND, TEXAS–June 4, 2021–Written by John Egan for Industrial Info Resources (Sugar Land, Texas)–Global investment in energy is expected to rise about 10% this year to about $1.9 trillion, bringing it back to pre-pandemic levels, but worldwide energy use and carbon dioxide (CO2) levels also are projected to rise, making it harder to achieve […]

  • Industrial Info – Refining
  • June 4 @ 1:55 am