Tag: crude oil

ExxonMobil has reached a final investment decision and has started construction on a new unit at its Beaumont, Texas refinery, which will increase crude refining capacity by more than 65%, or 250,000 barrels per day.

The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO).

The US Department of Energy (DOE) recently issued a Notice of Sale for crude from its Strategic Petroleum Reserves, with bids for 8 million barrels of light, sweet oil due by January 17th.

Mexico's Grupo IDESA, along with its Canadian partner, International Frontier Resources Corporation (IFR), expect to start extracting barrels of crude from the Tecolutla field within months of signing a contract with Mexico's oil regulator, IDESA's Chief Executive Officer said recently.

Peru has started expanding the sources of its crude imports, slowly introducing US and Brazilian grades to a supply mostly based on oil from Ecuador, Africa and Trinidad and Tobago.

The US Energy Information Administration (EIA) projects that US petroleum and other liquid fuels production - which in addition to crude oil and condensate production includes natural gas plant liquids derived from natural gas processing as well as biofuels and volume gain at refineries - is to grow from 14.

The Federal Railroad Administration (FRA) in the US has recently approved an extension for railroad tank cars equipped with defective valves, to continue transporting crude oil and other hazardous materials through the end of the year.

Tesoro Corporation announced today that Tesoro Refining & Marketing Company LLC (Tesoro) is upgrading its crude oil rail car fleet with the addition of 210 enhanced tank cars that exceed new safe transport standards that were issued by the U.

The company responsible for the largest saltwater pipeline spill in North Dakota’s history answered questions last week about lessons learned as it proposes to build new crude oil pipelines in the state.

Canada’s capital of Ottawa is proposing long-awaited new standards for rail cars carrying crude oil in a bid to limit a rash of fiery derailments across the country. Transport Canada unveiled a proposal Wednesday that would require tank cars used to haul crude oil and other flammable goods to meet new standards that include thicker steel, thermal protection, full shields at each end and more protection over the valves by 2025 at the latest.