Don't miss out on the latest business and technology news for chemical engineers, featuring select items in relation to Fuels & Petrochemicals.
Analysis: Strong refinery runs create risk of gasoline oversupply
US refiners stepped up activity in the past few months, counteracting a distillate deficit but also pushing gasoline supplies to 234 million barrels earlier this month, a record for this time of year, writes Reuters analyst John Kemp. To avoid a fuel glut, refineries might need to reduce crude processing for longer than usual during the fall maintenance season, Kemp adds.
S&P Global Platts mulls changes to Brent crude price assessment
S&P Global Platts is considering updating its Brent benchmark price assessment, currently backed by five North Sea crude grades, to include oil delivered to the Dutch city of Rotterdam. The agency also proposed incorporating grades from outside the North Sea region, naming WTI Midland, CPC Blend, Qua Iboe and Forcados as potential options.
Analysis: Offshore oil industry investments going up
Offshore oil investments are expected to increase next year as industry activity starts to return to 2014 levels while shale sector growth slows down, according to a Rystad Energy analysis. Sanctioned offshore projects increased 50% in 2017 and growth rates may hit 6% by 2022 as the industry plans to spend $100 billion over the next several years, said Audun Martinsen, who leads Rystad's oilfield service research.
N.D. may ease rules on volatile gases in oil train shipments
North Dakota regulators may amend the state's oil conditioning regulations that require companies to remove volatile gases from oil before it's transported by rail. The proposed changes include removing the requirement to conduct quarterly vapor pressure tests.
EPA details biofuels waiver program in transparency push
The Environmental Protection Agency has launched a data portal that enumerates small-refinery exemptions to the Renewable Fuel Standard, average weekly renewable identification number trading prices and weekly RIN transaction volumes. "Increasing transparency will improve implementation of the RFS and provide stakeholders and the regulated community the certainty and clarity they need to make important business and compliance decisions," said EPA acting Administrator Andrew Wheeler.
Interior Dept. revises rule on methane leaks on public land
The Interior Department's Bureau of Land Management formally rolled back an Obama-era regulation curbing methane leaks from oil and natural gas drilling on publicly owned land. The department says the move would save the industry up to $2.08 billion over a decade.
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