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  1. Premcor to expand Port Arthur refinery

    By OGJ editors HOUSTON, May 20 -- Premcor Inc., Old Greenwich, Conn., announced plans Tuesday to enlarge its heavy crude oil refinery in Port Arthur, Tex., to increase oil throughput capacity by 75,000 b/d, to 325,000 b/d from 250,000 b/d. About 80% of the oil the refinery currently processes is heavy, high-sulfur crude oil, with the remaining 20% medium-sulfur, medium-gravity crude. The project will enable Port Arthur to process 300,000 b/d of totally heavy, high-sulfur crude. Premcor also will expand the refinery's coker unit—already one of the largest in the world, it said—to 105,000 b/d from its current stated capacity of 80,000 b/d. The $200-220 million project is expected to be completed in fourth quarter 2005. The expansion is an element of the company's program to increase its US-based refining profits. Other facets of the plan include reducing costs, the closing of a small Hartford, Conn., refinery last year, and the acquisition in March of a 170,000 b/d Memphis refinery from Williams Cos. Inc. of Tulsa.

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    Tue, 20 May 2003

  2. MARKET WATCH: NYMEX crude oil prices plummet by nearly $4/bbl

    The price for light, sweet crude oil for October delivery plummeted by $3.79/bbl on Sept. 1, abruptly ending a late-August rally that marked the largest 3-day gain the New York market had experienced since 1990 for oil price futures.

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    Wed, 2 Sep 2015

  3. MARKET WATCH: NYMEX crude oil futures move up slightly awaiting inventory

    Crude oil prices on the New York market rose modestly on Dec. 30 awaiting the weekly US government report on crude oil and product supplies. Prices have plummeted 50% compared with June levels based upon abundant worldwide oil supply, boosted by production from unconventional plays.

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    Wed, 31 Dec 2014

  4. MARKET WATCH: NYMEX crude oil prices rise slightly on inventory drop

    Oil prices rose modestly on the New York market Dec. 3 after a weekly US petroleum inventory showed crude inventories fell by a surprising 3.7 million bbl, which analysts attributed to higher refinery processing rates.

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    Thu, 4 Dec 2014

  1. MARKET WATCH: Oil prices drop on hopes for diplomatic resolution in Syria

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    Wed, 11 Sep 2013

  2. MARKET WATCH: NYMEX oil prices drop awaiting inventory report

    Crude oil futures prices declined modestly on the New York market May 20 in anticipation of a weekly government report that unexpectedly showed a significant drop in US oil inventories, which analysts attributed to increased refinery runs and reduced crude oil imports.

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    Wed, 21 May 2014

  3. MARKET WATCH: Crude oil prices decline with continued concerns of Europe's economy

    Crude oil prices declined Nov. 14, ending a two-session rally in which crude failed to break the $100/bbl barrier or to hang onto intraday highs above $99/bbl on the New York market.

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    Tue, 15 Nov 2011

  4. MARKET WATCH: Weak economy drives energy prices down

    Energy prices fell across the board May 30 as the euro’s drop to a 2-year low drove investors away from risky commodities and into US government bonds that are among the safest investments anywhere.

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    Thu, 31 May 2012

  5. Sinopec, PetroSA in Mthombo refinery accord

    China Petrochemical Corp. (Sinopec) said it has reached a cooperation framework agreement with Petroleum Oil & Gas Corp. of South Africa (PetroSA) “which enabled the companies to move forward the world-scale Mthombo crude oil refinery project in Port Elizabeth’s Coega Industrial Development Zone.”

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    Wed, 3 Apr 2013

  6. MARKET WATCH: Iranian threats push crude above $101/bbl in New York market

    The front-month crude futures contract rose 1.7% to close above $101/bbl Dec. 27 in the New York market as Iran’s Vice-President Mohamed Reza Rahimi threatened to close the Strait of Hormuz if western nations sanctioned the country's oil exports in an effort to stop its nuclear program.

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    Wed, 28 Dec 2011

  7. MARKET WATCH: Oil prices increase on indications of economic improvement

    Oil prices increased Apr. 11, pulled along by a turnaround in the broader market that broke a 5-day losing streak through renewed hope the European Central Bank can ease Spain's economic woes through a bond-purchase program and the encouraging Federal Reserve outlook for modest expansion.

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    Thu, 12 Apr 2012

  8. OGJ Newsletter

    International news for oil and gas professionals

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    Mon, 8 Apr 2013

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