June 3, 2016:

Some western Canadian Petro-Canada stations are closed because of a fuel shortage following production problems at Suncor’s Edmonton refinery.  A part of the company’s sole Alberta refinery had an “unplanned outage” last Friday that cut its output of gasoline and diesel, Suncor spokeswoman Sneh Seetal said Friday.  She couldn’t say what caused the outage or when it will be fixed, although it didn’t lead to any injuries. Suncor owns the Petro-Canada chain.  “We’re continuing to produce some gasoline at the Edmonton refinery as well as diesel, but it is at a reduced rate,” she said.  “I know they’re working on a plan to bring that unit back in service as quickly and as safely as possible.”  The situation is complicated by the reduction in oil production following the earlier closure of oilsands facilities belonging to Suncor, Syncrude and other operators because of the wildfire around Fort McMurray, she said.  Some Petro-Canada stations between the B.C. interior and Manitoba have closed or run out of certain grades of fuel, although Seetal couldn’t say how many stations have been affected or where they’re located.  Suncor’s top priority is serving locations in remote or critical areas, including the three Fort McMurray Petro-Canada stations supporting residents returning to the city this week, she said.

Residents evacuated when the wildfire encroached on the northern city May 3.  The company is bringing in fuel from other parts of the country and other refineries to help deal with the shortfall.  “We know this is a huge inconvenience for customers … We’re doing everything we possibly can to reduce the impact,” she said.  “We apologize for that and thank (people) for their patience.”  Gasoline costs in Edmonton are also up, with many stations boosting their regular price to $1.06 a litre from 94 cents earlier this week. 

At least one Edmonton gas bar, at the 7-Eleven outlet on 162 Avenue, was closed because gasoline hadn’t been delivered.  Dan McTeague, a senior petroleum analyst with GasBuddy.com, said he has heard reports of dozens of other western Canadian stations also dealing with shortages since last weekend.  The main reason for the price spike is a jump in American wholesale charges following issues at two major U.S. refineries, along with the strengthening economy, he said.  “U.S. demand is going through the roof … Happy days are here again.”  This has given Alberta retailers a chance to push their prices high enough to cover their expenses after a period of operating in the red, McTeague said, adding he doesn’t know where prices will go from here.  “When your cost to buy gasoline … is 99 cents a litre, I don’t know how long you can afford to sell gas at 94 cents before your bank calls on you.”

By Edmonton Journal

June 3, 2016:

 Mangalore Refinery and Petrochemicals Ltd aims to operate its 300,000 barrels per day (bpd) refinery at full capacity by mid-June, its head of refineries M Venkatesh said on Friday.  Mangalore Refinery and Petrochemicals Ltd aims to operate its 300,000 barrels per day (bpd) refinery at full capacity by mid-June, its head of refineries M Venkatesh said on Friday. The refiner had to shut some units including a 60,000 bpd crude unit last month due to shortage of water. “We got the permission to pump water on May 26 and immediately we started operating the units,” he said, adding all units are functioning now except a fluid catalytic cracker and a poly-propeylene unit.

By The Financial Express

June 1, 2016:

  The House of Representatives has said it is not against the privatisation of the country’s oil refineries.  The lawmakers, however, explained that their opposition to the call for bids for three of the nation’s four refineries was because due process was not followed.  According to the House Committee on Privatisation, the exercise being carried out by the Nigerian National Petroleum Corporation ( NNPC ) on Kaduna, Warri and Port Harcourt refineries was in breach of the law.  The House insisted that the exercise must be stopped. 

Chairman of Committee on Privatisation Ahmed Yerima, at an investigative public hearing yesterday, said: “We are pro the exercise because we are tired of public funds being tied to this sector, without results despite spending so much.  “We want it to succeed but there is a process which must be followed. This process must stop. We would not like to see you saying it must continue.”  The Committee also expressed disappointment with the Bureau of Public Enterprises ( BPE ) for playing second fiddle to NNPC on the issue. 

The Acting Director General of BPE, Vincent Akpotaire,  said: “We do that to gather information, else we would not get what we need. It is on the basis of this interaction that we build a profile on which the entire process would be designed”.  The Committee however said such interface was wrong because the Act was clear on the roles and powers of BPE on such issues.  The Committee accused the Minister of Petroleum Resources (State), Ibe Kachikwu,  of stalling the investigation with his  absence at the hearings.  Yerima said the minister’s absence made it difficult for the investigation to progress as his representatives at the two hearings  could not satisfactory address questions on issues  generated at the hearings.

By The Nation

June 1, 2016:

  TODAY marks the fifth anniversary of the Chevron refinery disaster, which saw four workers killed at the Rhoscrowther facility.  The blast occurred in a 730-cubic metre storage tank where maintenance was being carried out, killing Dennis Riley, 52, Robert Broome, 48, and Andrew Jenkins, 33, all from Milford Haven, and 54-year-old fireguard Julie Schmitz (nee Jones), 54,  from Pembroke. 

Andrew Phillips, known to his friends as Pansy, suffered critical burns after the blast.  To mark the anniversary, Mr Phillips’ daughter-in-law, Milford Haven fitness instructor Millissa Fairbairn took part in the Edinburgh marathon, raising funds for the Wales Air Ambulance -– which she credits with saving her father-in-law’s life.  “I will always remember the explosions,” she said. “If it wouldn’t have been for the air ambulance Pansy wouldn’t have got to Morriston Hospital as fast as he did.”  Mr Phillips has since undergone treatment for post-traumatic stress disorder. 

A major criminal investigation to consider offences of corporate manslaughter was dropped last year with a spokesman for Dyfed-Powys Police saying “no stone had been left unturned”, adding that the Crown Prosecution Service had decided there  was “insufficient evidence to proceed against any of the companies involved”.  In the wake of the blast, memorials to the victims were erected at the Rath, Milford Haven, and in Pembroke.

By Milfordmercury.co.uk

15th May, 2016:

ExxonMobil Corporation XOM recently resumed operations of the fluid catalytic cracker (FCC) at its refinery in Torrance, CA. On May 10, the FCC resumed operations after meeting the air monitoring test of California’s regulatory agency South Coast Air Quality Management District (SCAQMD).

Notably, SCAQMD is the regulatory agency responsible for air-pollution control for the entire Orange County as well as portions of Los Angeles, Riverside, and San Bernardino counties. Based on the monitoring test, ExxonMobil would implement certain operational measures to mitigate excess emissions. To date, the company has invested around $161 million to repair a damaged electrostatic precipitator and another $1.1 million in drift eliminator upgrades to the refinery’s pretreater, hydrotreater, fuel gas treater, and north and south coker cooling towers.

The refinery was crippled by an explosion in Feb 2015, wounding four contractors, causing heavy damage at the plant and shocking nearby residents. The Torrance Refinery of Exxon Mobil covers 750 acres, and has approximately 650 employees and 550 contractors. It processed an average of 155,000 barrels of crude oil per day and produced 1.8 billion gallons of gasoline per year. The facility, known for special low-emissions gas, produces about 10% of all gasoline sold in California.

Engaged in oil and natural gas exploration and production, petroleum products refining and marketing, chemicals manufacture, and other energy-related businesses, ExxonMobil is the world’s largest publicly traded oil company. Approximately four-fifth of ExxonMobil’s earnings come from its operations outside the U.S.

ExxonMobil is one of the world’s best-run integrated oil companies given its track record of superior returns on capital employed. The energy giant has long been a core holding for investors seeking a defensive name with continued dividend growth. The company is also fairly active in its investment programs.

The strength of ExxonMobil primarily lies in its balanced operations, strong financial flexibility and steady improvement in efficiency and cost control. The company’s efforts to build an unconventional resource portfolio both in North America and overseas are aimed at increasing production through a wider exposure to large energy resources with a long reserve life and low field declines. However, we are skeptical about the company’s near-term performance owing to its muddled refining fortunes.

ExxonMobil currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the same space are PetroChina Co. Ltd. PTR, Pembina Pipeline Corporation PBA and Braskem S.A. BAK. Each of these stocks sports a Zacks Rank #1 (Strong Buy).

By Yahoo News