http://www.freerepublic.com/tag/refinery/ en-us Sun, 27 Dec 2009 16:46:51 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2415771/posts A weakened U.S. refining industry could spell opportunity for foreign oil companies wanting to enter the world's biggest fuel market or buy plants on the cheap for other strategic reasons. Possible buyers include firms in nations with high demand for petroleum-based fuels but with insufficient refining capacity to make them, as well as companies in countries that need a home for surplus crude supplies, said Roger Ihne, a refining industry consultant with Deloitte in Houston. And if they're willing to pay current asking prices, they have much to choose from, with about 5 percent of the nation's refining capacity up... AP via Houston Chronicle http://www.freerepublic.com/focus/f-news/2415771/posts#comment Sun, 27 Dec 2009 16:46:51 GMT http://www.freerepublic.com/focus/f-news/2415409/posts WEST LAFAYETTE, Ind. - Refineries could trim millions of dollars in energy costs annually by using a new method developed at Purdue University to rearrange the distillation sequence needed to separate crude petroleum into products. The researchers have demonstrated their method on petroleum plants that separate crude, showing that 70 of the new sequences they identified could enable oil refineries to improve the energy efficiency of this step anywhere from 6 percent to 48 percent, said Rakesh Agrawal, the Winthrop E. Stone Distinguished Professor of Chemical Engineering. The Journal of Business http://www.freerepublic.com/focus/f-news/2415409/posts#comment Sat, 26 Dec 2009 19:31:21 GMT http://www.freerepublic.com/focus/f-news/2394166/posts TEHRAN (Reuters) - China's Sinopec (0386.HK) has signed a tentative deal to provide financing of $6.5 billion for oil refinery projects in Iran, two Iranian news agencies reported on Wednesday. If such an agreement goes ahead, it would provide Iran, the world's fifth-largest crude exporter, with much needed capital to help develop its all-important energy sector, which is under U.S. sanctions. Rueters http://www.freerepublic.com/focus/f-news/2394166/posts#comment Wed, 25 Nov 2009 13:46:00 GMT http://www.freerepublic.com/focus/f-news/2392542/posts U.S. refiners are expected to keep output at historic lows through the beginning of 2010 as they wait for the economy to recover enough to revive demand for gasoline and other fuels. Refiners are keeping runs below 80 per cent of capacity by extending the scope and length of planned seasonal maintenance. They are even shutting plants in hopes of whittling down brimming diesel and gasoline stocks to keep profit margins in the black. Valero Energy Corp., America's biggest refiner, hammered home the extent of the industry's weakness on Friday when it said it will close its 210,000-barrel-a-day refinery in... Reuters via Calgary Herald http://www.freerepublic.com/focus/f-news/2392542/posts#comment Mon, 23 Nov 2009 13:20:55 GMT http://www.freerepublic.com/focus/f-news/2391868/posts Oil-refinery workers on the Delaware River yesterday received their second big blow in six weeks, when Valero Energy Corp. said it would close its operation in Delaware City, Del., casting 550 out of work. When workers heard the news, "it was like a time bomb went off," said Matt Edler, who has worked for 10 years at the refinery that rises out of the lowlands near the Delaware River in southern New Castle County. "My grandfather worked there, my father, and I worked there," said Edler, who yesterday afternoon joined other shocked refinery workers at Red Lion Inn in Bear,... Philadelphia Inquirer http://www.freerepublic.com/focus/f-news/2391868/posts#comment Sun, 22 Nov 2009 06:07:28 GMT http://www.freerepublic.com/focus/f-news/2383720/posts Exxon Mobil Corp. and partners were expected to announce early today the completion of a $5 billion refining and chemical complex in China's Fujian province, a sprawling project that arrives as U.S. refineries and chemical plants are closing. The complex in the city of Quanzhou, which Exxon Mobil developed with Saudi Aramco, China's Sinopec and the Fujian government, will expand production of transportation fuels like diesel and widely used building block chemicals, demand for both of which is projected to grow rapidly in China in coming years. As such, it is a show of confidence by one of the world's... Houston Chronicle http://www.freerepublic.com/focus/f-news/2383720/posts#comment Wed, 11 Nov 2009 12:47:45 GMT http://www.freerepublic.com/focus/f-news/2376093/posts BP Restarts Texas City Refinery Reformer -Filing Sun Nov 1, 2009 5:20pm EST HOUSTON, Nov 1 (Reuters) - BP Plc (BP.L) (BP.N) began restarting Ultraformer No. 4 at its 475,000 barrel per day (bpd) Texas City, Texas, refinery on Sunday, according to a notice filed on Saturday with state pollution regulators.[snip] Reuters http://www.freerepublic.com/focus/f-news/2376093/posts#comment Sun, 1 Nov 2009 22:38:17 GMT http://www.freerepublic.com/focus/f-news/2348065/posts FIRE AT TESORO REFINERY IN L.A. NO INJURIES, EVACUATIONS UNDERWAY. CNBC http://www.freerepublic.com/focus/f-news/2348065/posts#comment Fri, 25 Sep 2009 14:12:54 GMT http://www.freerepublic.com/focus/f-news/2329879/posts Energy: We balk at importing "dirty" oil from Canada, but others aren't so reluctant. Exempt as a "developing" nation from Kyoto-like agreements, China has decided to help Canada develop its energy-rich oil sands.The Financial Post reports that PetroChina International Investment Co. has struck a deal to buy a 60% interest in Athabasca Oil Sands Corp.'s McKay River and Dover projects for $1.9 billion. China has been establishing energy beachheads around the world in its quest to keep its growing economy fueled. With possible conflict brewing between Israel and Iran, Beijing recognizes the need for reliable suppliers like Canada in an... IBD Editorials http://www.freerepublic.com/focus/f-news/2329879/posts#comment Wed, 2 Sep 2009 00:03:45 GMT http://www.freerepublic.com/focus/f-news/2324451/posts Energy Policy: A new study shows that Waxman-Markey will increase prices at the pump, deepen our dependence on foreign oil and shred our ability to turn crude into gasoline. Even fuel-efficient cars will still need fuel.Oil may bubble up out of the ground, but gasoline does not. It's made in those ugly little NIMBY places called refineries we are loath to build anymore because we're too busy trying to save the Earth rather than our economy and American jobs. When Hurricane Katrina shut down 20% of our refining capacity in a single day and raised gas prices in a single... IBD Editorials http://www.freerepublic.com/focus/f-news/2324451/posts#comment Wed, 26 Aug 2009 00:59:14 GMT http://www.freerepublic.com/focus/f-news/2253011/posts A series of loud explosions has been reported in the area of a Sun Oil ethylene facility in New Castle County. CBS3 http://www.freerepublic.com/focus/f-news/2253011/posts#comment Mon, 18 May 2009 03:56:45 GMT http://www.freerepublic.com/focus/f-news/2227035/posts Iranian refineries currently need around 12 billion dollars to renovate their facilities and increase output. Iran, the world’s fourth largest oil producer, unveils an economic plan to privatize its oil refineries in line with its privatization scheme. The Oil Ministry and the Iran Privatization Organization (IPO) are in talks to reach an agreement on transferring the shares of the refineries to the private sector, said Minolta Eskandari, a director at the National Iranian Oil Refining and Distribution Company. Article 44 of the Iranian Constitution stipulates that the country’s economic system shall be based on public, cooperative and private sectors. Tehran Times http://www.freerepublic.com/focus/f-news/2227035/posts#comment Sat, 11 Apr 2009 17:25:56 GMT http://www.freerepublic.com/focus/f-news/2220693/posts <p>Oil refiners will face leaner margins over the next two years as weak demand causes a buildup of excess refining capacity, analysts said Wednesday.</p> <p>"We have a bearish outlook for 2009 on the European refining sector," UBS analysts said in a report. "We have a very negative outlook for refining margins and believe that the market isn't pricing in significantly lower margins."</p> Easy Bourse http://www.freerepublic.com/focus/f-news/2220693/posts#comment Thu, 2 Apr 2009 14:56:47 GMT http://www.freerepublic.com/focus/f-news/2218797/posts Sinclair Oil has reduced crude throughput at its 71,500 b/d refinery in Rawlins, Wyoming, due to a fire at the refinery Sunday, the company said Monday. "The refinery is currently operating at partial capacity and Sinclair is working as quickly as possible to repair the process unit," the company said in a statement. Company officials were not available for immediate comment on the refinery's current run rates. The blaze broke out at a "heater adjacent to a hydro-desulfurization unit" at about 7:10 am MDT (1410 GMT) Sunday, Sinclair said. It was extinguished within 70 minutes and there were no injuries.... Platts http://www.freerepublic.com/focus/f-news/2218797/posts#comment Tue, 31 Mar 2009 11:58:57 GMT http://www.freerepublic.com/focus/f-bloggers/2212951/posts “If people had any clue how lax the security here was”, he chuckled, “they’d lose it.” At the time, the words carried very little weight. Still a novice in my job as a security officer at the Refinery, my partner’s comment sparked some curiosity but seemed at the time a harmless quip. Over the next few years those words would echo repeatedly in my mind. The Moderate Separatist http://www.freerepublic.com/focus/f-bloggers/2212951/posts#comment Mon, 23 Mar 2009 21:48:30 GMT http://www.freerepublic.com/focus/f-news/2208430/posts Motiva Enterprises is delaying by more than a year the target date for completing a $7 billion expansion of its Port Arthur refinery due to poor market conditions, a company spokesman said today. Motiva, a joint venture between Shell Oil and Saudi Refining Inc., had planned to finish the project by late 2010, but now is aiming for the first quarter of 2012, Motiva spokesman Stan Mays said today. The expansion will double the facility’s crude oil processing capacity to 600,000 barrels per day, making the refinery the largest in the United States and among the biggest in the world.... Houston Chronicle http://www.freerepublic.com/focus/f-news/2208430/posts#comment Tue, 17 Mar 2009 18:26:43 GMT http://www.freerepublic.com/focus/f-news/2207427/posts Japan's JGC has not officially been informed about the cancellation of Kuwait's 615,000 b/d al-Zour refinery project, in which the engineering and construction company had secured key contracts, a JGC official said Monday. "We are aware of the declared cancellation of the project by prime minister Sheikh Nasser al-Mohammed through media reports," the official said. "However, we have not been informed about this from Kuwait as yet. We are in the middle of confirming this information through our networks," he added. JGC shares were trading at Yen 1,129 ($11.53) each at 10:22 am local time Monday (0122 GMT) on the... Platts http://www.freerepublic.com/focus/f-news/2207427/posts#comment Mon, 16 Mar 2009 11:56:27 GMT http://www.freerepublic.com/focus/f-news/2206472/posts Marathon Oil Corp. plans to delay for 18 months completion of a $2 billion expansion of its 100,000 b/d refinery in southwest Detroit—Michigan's sole refinery. The company originally intended to finish the expansion in fourth-quarter 2010, but a slowdown in gasoline demand and a delay in the company's Canadian crude production pushed the completion date to mid-2012. Construction, which began in June 2008, will not stop but will continue at a slower pace, a company representative said. Due to the delay and other factors, Marathon raised its cost estimate for the project to $2.2 billion, up 15% from the original... Oil & Gas Journal http://www.freerepublic.com/focus/f-news/2206472/posts#comment Sat, 14 Mar 2009 13:27:01 GMT http://www.freerepublic.com/focus/f-news/2183073/posts Facing weaker demand for gasoline, U.S. refiners could be forced to close older plants and may even see the potential to export gasoline to Latin America, the chief executive of Houston’s Marathon Oil Corp. said Tuesday. But the industry must be careful to keep the U.S. market well-supplied with gasoline, in part to avoid price spikes at the pump, Clarence Cazelot said at the CERAWeek conference. Refiners must continue to invest in upgrading plants to handle a wider variety of crude oil types and boost output of diesel fuel, which is expected to see higher global demand than gasoline in... Houston Chronicle http://www.freerepublic.com/focus/f-news/2183073/posts#comment Wed, 11 Feb 2009 13:14:52 GMT http://www.freerepublic.com/focus/f-news/2178041/posts Thousands of refinery and chemical plant workers will receive a 3 percent raise each year for the next three years along with a $2,500 contract ratification bonus, according to the terms of a tentative agreement reached Tuesday between industry negotiator Shell Oil Co. and United Steelworkers International. The contract, which still must be ratified by membership, would cover 30,000 workers nationwide, including 4,200 in the Houston area. Specific elements of the deal are secret until members have a chance to review the proposal, but local unions in Montana and California posted the basic details on their Web sites. “These were... Houston Chronicle http://www.freerepublic.com/focus/f-news/2178041/posts#comment Wed, 4 Feb 2009 12:54:04 GMT http://www.freerepublic.com/focus/f-news/2177317/posts Progress is being made in labor contract negotiations between several energy companies and the union for about 30,000 refinery and chemical workers nationally, including 4,200 in the Houston area, a union spokeswoman said today. Negotiators for the United Steelworkers Union are meeting in Austin with representatives of Shell Oil Co., which is the lead negotiator for the industry, on the second day of the extension of an old contract that expired early Sunday morning. “We think we will be in a better position to know exactly where we’re at in the morning,” Lynne Baker, spokeswoman for the United Steelworkers Union,... Houston Chronicle http://www.freerepublic.com/focus/f-news/2177317/posts#comment Tue, 3 Feb 2009 13:06:36 GMT http://www.freerepublic.com/focus/f-news/2176904/posts Lynne Baker, spokeswoman for United Steelworkers, said Monday morning that there's no threat of a strike for at least 24 hours. "Both sides have been talking," Baker said. "They are making some progress." Oil major Royal Dutch Shell holds the position of lead negotiator for the contracts that expired Feb. 1, covering 86 plants that represent about 64% of U.S. refining capacity. The talks cover the 24,000 workers whose contracts expired Sunday; an additional 6,000 employees would also be affected if a strike is called, Baker said. Exxon Mobil, Valero, BP and ConocoPhillips also operate facilities covered by the union.... Market Watch http://www.freerepublic.com/focus/f-news/2176904/posts#comment Mon, 2 Feb 2009 20:59:55 GMT http://www.freerepublic.com/focus/f-news/2176883/posts Walkout averted, but no deal reachedOil company officials and a union representing about 24,000 refinery workers nationwide continued contract negotiations Sunday, averting a walkout at facilities that process a large percentage of the country's oil. In the New Orleans area, roughly 1,500 employees at facilities in Norco, Convent and Chalmette would participate in any strikes, United Steelworkers spokeswoman Lynne Baker said. The current contract expired Sunday at 12:01 a.m., but Royal Dutch Shell, negotiating on behalf of refiners nationwide, and the union agreed to a 24-hour rolling extension. Talks will continue until either the two sides reach an agreement or... Times Picayune http://www.freerepublic.com/focus/f-news/2176883/posts#comment Mon, 2 Feb 2009 20:21:59 GMT http://www.freerepublic.com/focus/f-news/2176685/posts About 240 contract workers in Hampshire are on strike in support of protests over the use of foreign workers. More than 100 employees walked out of the Esso refinery in Fawley during the morning. Action is continuing at the Marchwood Power Station where about 140 contract workers downed tools on Friday. The original strike started at Lindsey Oil Refinery in Lincolnshire after owner Total gave a £200m contract to an Italian firm. Marchwood Power Station has been under construction for two years and is expected to be completed by the end of the summer. It employs a total of about... BBC http://www.freerepublic.com/focus/f-news/2176685/posts#comment Mon, 2 Feb 2009 15:34:46 GMT http://www.freerepublic.com/focus/f-news/2176610/posts Traders on Monday ignored the bullish effect of strike threats from U.S. oil workers, sending crude prices below $41 over continued concerns about the world's economy. Even new indications that OPEC members were generally complying with significant output reductions failed to buoy markets. Light, sweet crude for March delivery fell $1.27 to $40.41 a barrel by noon in Europe in electronic trading on the New York Mercantile Exchange. On Friday, the contract rose 24 cents to settle at $41.68. Negotiations over wage increases continued over the weekend, with some 24,000 refinery workers agreeing to postpone a strike for at least... AP via Washington Post http://www.freerepublic.com/focus/f-news/2176610/posts#comment Mon, 2 Feb 2009 12:52:16 GMT