01222019Tue
Last updateTue, 22 Jan 2019 8pm

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Motiva Plans $6.6 Billion Expansion for Texas Refinery

Saudi Aramco’s Houston subsidiary, Motiva Enterprises, is exploring the construction of a new $4.7 billion steam cracker for its Port Arthur, TX refinery, The Houston Chronicle  reports.

“Motiva also is considering a $1.9 billion complex that would produce benzene and paraxylene, byproducts of gasoline production, according to additional documents. Both projects would be complete by 2022.” 


U.S. Chemical Production Edged Higher in November

According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.2% in November, following a 0.5% decline in October and a 0.2% decline in September. Compared with November 2017, U.S. chemical production rose 4.2% on a year-over-year basis. Chemical production was higher than a year ago in all regions, with the largest gains in the Gulf Coast. 

Upstream Companies Positioned to Thrive in 2019

In the recently published 2019 upstream and corporate outlook reports, Wood Mackenzie highlights how well prepared the industry is to adapt and thrive in tumultuous times.

"Permian mega-deals defined 2018, and we expect more in 2019," said Angus Rodger, upstream research director. “After spending nearly $35 billion on tight oil acquisitions in 2018, the Supermajors and bigger Independents are serious about ensuring long-term success."

Global Coal Demand to Remain Stable Through 2023

While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as declines in Europe and North America are offset by strong growth in India and Southeast Asia, according to the International Energy Agency’s latest coal market report, Coal 2018.

Air quality and climate policies, coal divestment campaigns, phase-out announcements, declining costs of renewables and abundant supplies of natural gas are all putting pressure on coal. As a result, coal’s contribution to the global energy mix is forecast to decline slightly from 27% in 2017 to 25% by 2023. 

Lawmakers Urge President to Act on Keystone XL Construction

More than forty congressional Republicans have sent a letter to President Trump asking him to take steps to move forward with construction of the Keystone XL crude oil pipeline.

“Their Dec. 14 request came more than a month after a federal district judge in Montana vacated a March 2017 U.S. Department of State record of decision authorizing the project and ordered further environmental reviews in response to a lawsuit by environmental organizations,” The Oil & Gas Journal  reports

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