More Refining Capacities News

BP selling Yorktown, Va., refinery to Giant Industries for $127.5 million

Feb 12, 2002 BP PLC said Tuesday it is selling its 62,000-b/d Yorktown, Va., refinery to Giant Industries Inc., Scottsdale, Ariz., for $127.5 million.

Market watch: Oil futures prices fall to profit taking

Feb 13, 2002 Energy futures prices dropped in international markets Tuesday in a wave of profit taking following the increases of recent sessions. The Centre for Global Energy Studies reported Russia actually increased oil exports during January rather than cutting them as promised.

Tesoro amends purchase agreement for Valero's Golden Eagle refinery

Feb 25, 2002 Tesoro Petroleum Corp. amended terms for its purchase of the 168,000 b/d Golden Eagle refinery and 70 associated retail stations in California from Valero Energy Corp., paying an additional $50 million at closing in lieu of contingency payments of up to $150 million over 5 years.

Canadian majors backing new technology to slash costs of pipelining heavy crudes

Mar 21, 2002 Several major companies are backing a Canadian pilot project that could reduce the cost of transporting heavy oil via pipeline and increase market penetration of Canadian heavy crudes in the US. Ensyn Petroleum Canada Inc. is planning a $4 million, 1,000 b/d pilot plant in Alberta to demonstrate technology that could substantially reduce the need for costly diluent used in pipelining heavy crude. Enbridge Inc. and Conoco Canada, both of Calgary, are providing support for the Ensyn project.

Petrobras sticks with growth plans, says new CEO

Apr 3, 2002 Petrobras Pres. and CEO Francisco Gros
As part of its growth plan, Brazil's state oil company Petrobras is shopping for a company with 100,000 boe/d of production in the US Gulf of Mexico.

US senator to hold hearings on rising gasoline prices

Apr 3, 2002 Sen. Carl Levin (D-Mich.), chairman of the Senate Permanent Subcommittee on Investigations, said he will hold a series of hearings later this month to update the public on his subcommittee's 10-month investigation into gasoline prices. The average US retail gasoline pump price has risen 25¢/gal since January, the US Energy Information Administration reported yesterday, reaching $1.37/gal Apr. 1—its highest level since Oct. 9, 2001.

PIRINC: Refiner consolidation not a cause of gasoline price spikes

May 1, 2002 Competition among US refiners is still strong, said the Petroleum Industry Research Foundation Inc. (PIRINC), prior to hearings Tuesday by a Senate subcommittee investigating whether industry mergers have pushed up US gasoline prices at the pump.

Court rules in favor of EPA low sulfur diesel rule

May 3, 2002 The US Court of Appeals for the D.C. Circuit on Friday upheld a controversial low sulfur diesel fuel issued by the Environmental Protection Agency and opposed by industry. Refiners that filed suit against the agency called the court's decision "disappointing."

Praxair expands Texas hydrogen pipeline capacity

May 13, 2002 Praxair Inc. and Valero Logistics Operations LP have exchanged certain Texas Gulf Coast pipeline assets of different capacities to enhance both of their hydrogen systems. The action doubles Praxair's Houston-Texas City, Tex., hydrogen pipeline capacity in response to increased hydrogen demand.

China studies Pakistan refinery sites for Sudan oil

May 22, 2002 China National Oil & Gas Exploration Development Corp. (CNOGEDC) is showing a strong interest in constructing a $600 million refining unit at Karachi, Pakistan, to process its Sudan crude oil.

Petrobras finds difficulties in finding US refinery for purchase

May 24, 2002 Petroleo Brasileiro SA (Petrobras) is having difficulties finding an oil company to acquire that will expand its production in the Gulf of Mexico, said the company's financial director Joao Nogueira Batista.

IEA reviews US National Energy Policy

May 30, 2002 The US government's efforts under the National Energy Policy proposed by President George W. Bush in May 2001 will influence energy policy worldwide, the International Energy Agency said in a generally favorable review.

New catalytic cracking technologies revealed at CatCon2002

Jun 5, 2002 New catalytic cracking technologies for crude oil refining, chemical production, nanotechnology, and gas-to-liquids projects were unveiled at the sixth annual catalyst conference.

Canadian push under way to add pipeline capacity for growing oil sands output

Jun 13, 2002 CALGARY, June 13 -- Enbridge Inc., Calgary, has begun a long-range study to identify markets and pipeline needs for Alberta's rapidly expanding oil sands production. Both Enbridge and BC Gas Inc., Vancouver, BC, are also studying shorter-range concepts for pipelines to move bitumen from the Athabasca region to planned refinery capacity in the Edmonton area.

Russian energy dialogues

Jun 17, 2002 Russian and US energy officials will meet in Houston Oct. 1-2 to help solidify an energy cooperation pact made between Russian President Vladimir Putin and US President George W. Bush last month in Moscow.

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