Refining

Downstream news: fuels, refining and chemicals
(Johnny Hanson/Houston Chronicle)

Citgo said to plan $2.5 billion of debt for Venezuela dividend

Citgo Petroleum Corp. is planning to raise $2.5 billion and transfer the funds to its cash-strapped corporate parent, state-owned Petroleos de Venezuela SA, according to a person with knowledge of the matter, Bloomberg News reports.  More »
U.S. Senator John Cornyn speaks to the audience at the GOP election night party in Austin on Tuesday, Nov. 4, 2014. (Kin Man Hui/San Antonio Express-News)

Beaumont event touts benefits of Keystone XL

Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.  More »
KiOR's facility in Columbus, Miss. (KiOR)

KiOR says Miss. seeks to destroy it in court ploy

Bankrupt biofuel maker KiOR and controlling shareholder Vinod Khosla say the state of Mississippi is using legal tactics in an attempt to squeeze money from the company.  More »
In this photo from Jan. 6, 2015, steam blows over the Green Plains ethanol plant in Shenandoah, Iowa. Roughly 100 trucks a day filled with corn flow into this ethanol plant in southwest Iowa even as crude oil prices continue to collapse. Oil prices may have dipped below $50 a barrel for the first time since April 2009, but ethanol plants across the nation continue to operate at a brisk pace in order to satisfy a domestic and export demand that hasn’t weakened. (AP Photo/Nati Harnik)

Oil could drive down ethanol profits, but industry shielded

Oil prices may have dipped below $50 a barrel for the first time since April 2009, but ethanol plants across the nation continue to operate at a brisk pace in order to satisfy a domestic and export demand that hasn’t weakened.  More »
(Nick De La Torre / Houston Chronicle)

Cheniere lands 20-year natural gas deal in Portugal

The natural gas boom in the U.S. has led to a rush by major producers to put into place the infrastructure to ship overseas.  More »
Louisiana Gov. Bobby Jindal (AP Photo/ Richard Shiro)

LNG co. plans $4 billion-plus Louisiana investment

Construction is expected to begin at the 203-acre site in the third quarter of 2016.  More »
(AP file photo/Mary Altaffer)

Oil prices not hitting petrochemical plant expansions

The same drilling bonanza that bestowed the chemical industry with cheap feedstock also flooded the world market with oil and gas at a time when the global demand for such products has started to flatten.  More »
Iris Smith, right to left, Michael Smith, Sig Cornelius, Charles Reimer, Hiroshi Ozaki, Yuji Kakimi, and Dennis Bonnen breaking ground at the Freeport LNG Liquefaction Project groundbreaking ceremony. (For the Chronicle/Gary Fountain, November 10, 2014)

Freeport LNG obstacles cleared in two rulings

Executives stressed that the company would move swiftly to begin construction after the final regulatory hurdles fell away at a groundbreaking ceremony Monday.  More »
Chenieretour

Cheniere’s Sabine Pass terminal nearing finish line

As companies scramble to announce new plants and expansion projects to capitalize on abundant supplies of cheap, natural gas, Cheniere Energy is nearly finished with the first phase of its liquefaction export terminal.  More »
ALCS Citgo Sign

Citgo not for sale, Venezuela says

Venezuela has ruled out selling its U.S.-based refining subsidiary Citgo Petroleum Corp, Finance minister Rodolfo Marco Torres told Caracas-based El Universal newspaper in an interview published Sunday.  More »
OCI101514

Natgasoline clears EPA hurdle for $1 billion methanol plant in Beaumont

The massive Beaumont project is expected to require thousands of construction workers and carry a more than $20 million annual payroll once it begins producing methanol at the end of 2016  More »
Petroleo Brasileiro SA (Petrobras) natural gas storage tanks sit on an island in Guanabara Bay in the state of Rio de Janeiro, Brazil. (Dado Galdieri/Bloomberg)

Petrobras refinery is 60 percent over budget, audit court says

The new refinery will cost $50,000 more per barrel than Petrobras’ previous facility.  More »
(AP Photo/Pablo Martinez Monsivais)

Refiners to Obama: Keep renewable fuel quotas down

Refiners warned the administration that if it gives in to Corn Belt demands for higher mandates, it could cause gasoline prices to spike.  More »
(StockMonkeys.com)

Shell Oil, Motiva to pay $4.5 million in back wages to nearly 2,700 workers

Shell Oil Co. and Motiva Enterprises have agreed to pay nearly $4.5 million in overtime back wages to 2,677 current and former chemical and refinery employees after federal regulators found violations of federal labor law.  More »

Iowa Senate candidates stress support for ethanol

Ethanol production has become a key issue in Iowa’s closely matched U.S. Senate race, with both candidates pledging support for an industry that is important to the state’s corn-powered agricultural economy  More »
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