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A fire broke out in Kuwait's largest petroleum refinery on Friday, killing at least two people and injuring several others, Anadolu News Agency reports. In a statement, the Kuwait National Petroleum Company said that the fire erupted as maintenance work was being carried out at the gas liquefaction unit of Mina Al-Ahmadi refinery. The company said that five people with severe burns were transferred to hospital in critical condition. Two Asian workers succumbed to the injuries, it added. The fire has been extinguished, it said, adding that the incident did not affect operations at the refinery.
ExxonMobil's 557,000 b/d refinery in Baytown, Texas, is operating at reduced rates following an explosion and fire on a desulfurization unit that injured four workers. The fire broke out around 2am ET on 23 December on a unit that processes gasoline components, according to the company. Hours earlier refinery workers found a leak in a bypass line on the desulfurization unit, according to a report to state regulators, which led to flaring. Refinery crews lowered pressure on the leak location and put a repair plan into action to isolate the leak, according to the filing.
ISLAMABAD: The oil refining industry is operating on negative returns on equity because of volatility in international crude oil prices, said Petroleum Division. The division made the disclosure in a presentation submitted to the Cabinet Committee on Energy (CCOE). The committee will take up for review the draft of Refining Policy 2021 on Thursday (December 16). The Petroleum Division presented a comparison of the return on equity for oil refineries and other sectors like hydrocarbon exploration, fertiliser, auto and power. Tractor, fertiliser and exploration companies are getting higher rates of return on equity.
ISLAMABAD: The Oil Companies Advisory Council (OCAC) and the Directorate General of Oil of the Petroleum Division have warned of supply chain challenges and great financial loss to the oil refineries and state-run oil suppliers because of acute refining and storage capacity constraints as power sector backs off commitments. The rare warning by the DG Oil came a day after the Federal Board of Revenue (FBR) claimed before a parliamentary panel on Wednesday that major reason behind surge in import bill was increase in the import of refined petroleum products which could not be curtailed because of higher demand despite price hike.
As the Biden Administration considers ways to lower the price of gasoline in the United States, which is now at a seven-year high, it faces calls from Democrats to weigh all possibilities, including the "nuclear option" to reimpose a ban on U.S. crude oil exports. Analysts and industry professionals don't see a ban happening, but even the unlikely event of the Administration moving to ban crude exports would not reduce prices at the pump. On the contrary, gasoline prices could rise further, they say.
Energy Capital & Power (www.EnergyCapitalPower.com) International Conference Director, João Gaspar Marques, spoke to H.E Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas of Angola, about the impact of COVID-19 on the country’s oil and gas sector. What have been key developments in the Angolan oil and gas sector in the past twelve months, giving particular weight to the state of emergency imposed by COVID-19?Since the beginning of the pandemic, the mineral resources, oil and gas sector has materialized and expanded its reforms with the consolidation of the role of the National Oil and Gas Agency, ANPG, as National Concessionaire and the execution of the Restructuring/Regeneration Program of Sonangol-EP.
Although oil companies are still assessing the damage at the oil rigs, platforms and refineries that were struck by Hurricane Ida, signs point toward a limited impact on gasoline availability and prices. AAA has warned of price volatility, and several analysts expect temporary price increases of several cents, but experts are not expecting a dramatic or prolonged disruption to the market. "This is not Katrina," says Richard Joswick, head of oil analytics at S&P Global Platts. After Hurricane Katrina made landfall — exactly 16 years earlier — gas prices immediately shot up by 45 cents and remained elevated for two months.
Energy companies were assessing the health of refineries, pipelines, petrochemical plants and offshore oil platforms along the central Gulf of Mexico on Monday, the day after Ida struck Louisiana as a powerful Category 4 hurricane. Widespread flooding and power outages affecting more than one million customers across the state could leave gasoline makers along the banks of the Mississippi River scrambling to restart operations after they assess damages this week, analysts said. Valero Energy Corp. , Phillips 66 and Royal Dutch Shell PLC shut roughly 8% of the nation’s refining capacity ahead of the storm.
NAGPUR: After the Shiv Sena strongly opposed the proposed oil refinery at Nanar in Konkan, there’s a demand from some quarters to shift it to Vidarbha. It’s an ambitious project between the IOC, HPCL and BPCL and Saudi Arabian petroleum giant Aramco and Abu Dhabi National Oil Company. An oil refinery or petroleum refinery is an industrial/chemical processing plant where crude oil is converted into petrol, gasoline, diesel fuel, heating oil, kerosene, liquefied petroleum gas (LPG) and jet fuel.
India has asked state refiners to speed up the diversification of oil imports to gradually cut their dependence on the Middle East after OPEC+ decided last week to largely continue production cuts in April. Two oil refiners confirmed that the government had asked them to expedite efforts to diversify crude import sources.
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. A consortium of Oil India Ltd, Engineers India Ltd, and the Government of Assam expressed interest in buying the stake and the BPCL board on Monday approved the sale.
U.S. oil demand is finally starting to emerge from the grips of pandemic after months with Asia serving as the lone bright spot in global markets. Prices for cargoes of grades like West Texas Intermediate crude have picked up by at least 50 cents a barrel from earlier this month. The U.S. government sees production recovering to only 11.5 million barrels a day in 2022.
Greenpeace’s flagship Rainbow Warrior blocked a tanker on Thursday from delivering crude oil from Norway to Sweden’s Lysekil refinery in a protest against plans to expand it. According to Greenpeace, the expansion would result in increasing carbon dioxide emissions by up to 1 million tonnes per year, making it the largest source of Carbon dioxide emissions in the country.
Iraq’s government agreed to sign a contract with JGC Corp to build a 55,000 barrels per day refinery in the southern region of Basra. The refinery will produce fuels including liquified petroleum gas, gasoline and gasoil, estimating the cost of the facility at $4 billion.
Total has agreed to sell its Lindsey refinery in Lincolnshire, northeast England, to Prax Group. The refinery has an annual production capacity of 5.4 million tons. Since the sale of the British retail network in 2011, the Lindsey refinery hasn’t been part of Total’s downstream system. It is expected to be put to better use within the Prax Group, an independent player with a growing UK network.
Royal Dutch Shell Plc shut on Saturday the gasoline-producing fluidic catalytic cracker at its 318,000 barrel-per-day joint-venture Deer Park, Texas, refinery after a fire, sources familiar with plant operations said on Sunday. All individuals were safe and accounted for at the Shell Deer Park Complex, which includes the refinery and adjoining chemical plant. The Deer Park refinery is a 50-50 joint venture between Shell and Pemex, Mexico’s national oil company.
Brazil state-controlled oil major, Petrobras reported a fire incident at its Duque de Caixas refinery, forcing the authorities to operate the refinery at half of its installed capacity. However, the company said in an email late on Monday that the fire would not affect deliveries as the inventories were already equipped. The company also did not provide a date on when production will return to normal levels.
The conversion of the Cheyenne HollyFrontier Refinery to renewable diesel production cause a loss of about 200 jobs in Cheyenne over the next 12-18 months, according to a release from the company. This conversion will cost about $125 million to $175 million. When the process is finished the Cheyenne site will produce about 90 million gallons per year of renewable diesel.