ConocoPhillips has completed a transaction with Pertamina for the sale of its Algeria business unit for a total sales price of US$ 1.75 billion, which resulted in proceeds of US$ 1.65 billion, including customary adjustments. The company’s divestiture proceeds from 2012 through third quarter 2013, plus this sale and the recently completed Kashagan sale, have totalled approximately US$ 12.4 billion. These proceeds will be available for general corporate purposes, including investments in the company’s organic growth programs.
Plans for Petrobras to build a new refinery in the north eastern state of Ceara have been confirmed. This is part of the company’s plan to reduce import levels of expensive gasoline and diesel into the country.
Eni and Rosneft of Russia are going to sign a mutual supply agreement to provide oil for Europe’s refineries. Under the terms, Rosneft will supply 1 million t of oil to Eni’s refineries and Eni will supply 400 000 t.
For 15 days during January 2014, Mangalore Refinery and Petrochemicals Ltd will idle 100 000 bpd processing capacity of its 300 000 bpd for maintenance. A hydrocracker is listed for shutdown at this time.
The Phillips 66 and WRB refining owned plant in Borger have paid a settlement of US$ 300 000. The money was paid against a federal complaint filed in 2012 when 260 migratory birds were found dead near the Johnson Tank Farm Pond.
Due to a compressor malfunction, Tesoro Corp. are going to keep part of its Carson refinery, California, shut. The hydrotreater was one of several units shut for planned maintenance earlier this month.
Western Refining raised US$ 337 000 during its annual St. Jude Halloween Promotion. More than 200 of the company’s Giant and Howdy Convenience stores participated in the fund raising drive.
The new refinery which is going to be built on the Fort Berthold Reservation is already part of plans to be expanded. The plant will produce 300 000 bpd of oil within six years and is expected to cost near US$ 450 million.
Edited from various sources by Claira Lloyd
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