RIN costs force US refiners to assess responses

Renewable identification numbers (RINs), part of the US government’s program to force the use of renewable fuels, have become a multibillion-dollar burden on refiners and tax on US consumers. In 2016, US refiners paid about $2.2 billion for RIN credits. Source: News

Cedigaz: Global gas demand growth continues to slow

Cedigaz’s Natural Gas in the World 2016 report confirms the provisional estimates published early May, showing a moderate natural gas demand growth in 2015 for the third year in a row. Source: News

US Army denies Dakota Access crude oil pipeline’s Lake Oahe easement

The US Department of the Army will not approve an easement that would allow the proposed Dakota Access crude oil pipeline to cross under Lake Oahe in North Dakota, Army Asst. Sec. for Civil Works Jo-Ellen Darcy announced on Dec. 4. American Petroleum Institute Pres. Jack N. Gerard immediately called on President-elect Donald J. Trump […]

MARKET WATCH: Crude oil prices continue climbing after OPEC agreement

Crude oil prices on the New York market gained for a third consecutive day Dec. 2, still drawing support from news that the Organization of Petroleum Exporting Countries agreed to reduce cartel production by roughly 1.2 million b/d if some non-OPEC countries cut by 600,000 b/d. Source: News

ExxonMobil lets contract for Beaumont PE expansion

ExxonMobil Corp. has let a contract to Mitsubishi Heavy Industries Ltd. (MHI), Tokyo, to supply equipment and services for the operator’s current project to add a unit that will expand production of granular and pelletized polyethylene (PE) by 65% from current rates at its 1-million tonne/year PE plant in Beaumont, Tex. Source: News

Worldwide crude oil reserves down, production holds steady

Oil & Gas Journal’s annual look at worldwide proved crude oil and natural gas reserves shows reductions in reserves, reflecting lower commodity prices that have slowed drilling and reduced operating economics. Source: News