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  • Volume 121, Issue 2

    • Volume 121, Issue 2

    Feb. 6, 2023 | First announced in 2020 and currently under way, Phillip 66’s $750-800-million Rodeo Renewed will convert the 120,000-b/d portion of the operator’s San Francisco refining complex in Rodeo, Calif. into a renewable fuels refinery via the addition of new pretreatment units as well as repurposing of two existing hydrocracking units to enable production of more than 50,000 b/d of renewable diesel, renewable gasoline, and sustainable jet fuel.

    More content from Volume 121, Issue 2

    General Interest

    KMI net income up 5%, expansion projects on pace

    Feb. 6, 2023
    Kinder Morgan Inc. (KMI) had fourth-quarter 2022 net income attributable of $670 million, compared with net income of $637 million in fourth-quarter 2021. KMI’s natural gas pipeline...
    General Interest

    Biden administration directs agencies to prioritize GHG reductions

    Feb. 6, 2023
    The White House Council on Environmental Quality (CEQ) has issued guidance to federal agencies to consider mitigation measures for greenhouse gases “to the greatest extent possible...
    General Interest

    Rystad: Gas prices set to recede in 2023 but remain elevated

    Feb. 6, 2023
    Gas prices are set to recede in 2023 based on the current trend but will remain elevated compared to historical levels as the structural deficit that began in 2022 will continue...
    General Interest

    Biden administration proposes tougher air standards for soot

    Feb. 6, 2023
    The Biden administration announced Jan. 6 it will issue a proposed rule to tighten one of its national ambient air quality standards for particulate matter (PM), specifically ...
    General Interest

    ExxonMobil inks deal to shed Thai refinery, related assets

    Feb. 6, 2023
    Bangchak Corp. Public Co. Ltd. (BCP) has entered an agreement to purchase ExxonMobil Corp. affiliate ExxonMobil Asia Holdings Pte. Ltd.’s interest in Esso (Thailand) Public Co...
    General Interest

    Murphy 2023 capex plan targets 14% production growth

    Feb. 6, 2023
    Murphy Oil Corp., Houston, plans to spend between $875 million and $1.025 billion on capital projects this year with the goal of increasing total production by 14%.
    General Interest

    Matador to acquire Delaware basin assets for $1.6 billion

    Feb. 6, 2023
    A subsidiary of Matador Resources Co., Dallas, has agreed to acquire Advance Energy Partners Holdings LLC, including certain oil and natural gas producing properties and undeveloped...
    General Interest

    Moody’s: Global upstream spending to rise 10-15% in 2023

    Feb. 6, 2023
    Aggregate global upstream spending will rise sequentially in 2023, by about 10-15%, while overall spending will still fall below 2016-19 levels, Moody’s said in a research note...
    General Interest

    IEA: China reopening lifts non-OECD demand

    Feb. 6, 2023
    In its January monthly Oil Market Report (OMR), the International Energy Agency (IEA) raised its non-OECD demand forecast for 2023 by 140,000 b/d to 55.3 million b/d compared ...
    General Interest

    Moody’s: Opposing market forces to keep oil prices volatile

    Feb. 6, 2023
    Average oil prices should remain below 2022’s $100/bbl average for international Brent benchmark, but exceed the medium-term price of $50-70/bbl, according to a Jan. 17 report...
    Illustration from Sempra Infrastructure.
    Energía Costa Azul regasification terminal in Baja California, Mexico.
    General Interest

    Sempra gets DOE export permissions for LNG projects in Mexico

    Feb. 6, 2023
    The US Department of Energy (DOE) has granted Sempra Infrastructure’s 4-million tonne/year (tpy) Vista Pacifico LNG plant permission to export natural gas to countries not having...
    Dreamstime/xl_120426320.
    Oil Barrels
    Government

    Regulatory, court disputes await oil and gas industry in 2023

    Feb. 6, 2023
    The center of gravity for federal actions affecting the oil and gas industry can be expected to shift in 2023 now that Congress is divided and the political parties are able to...
    Wind, Shore-Powered Fields. Fig. 1.
    Energy Transition

    Wind, waves power North Sea installations

    Feb. 6, 2023
    North Sea operators have a convergence of interests to find alternative power sources for their offshore platforms and subsea systems. Gas turbines typically power offshore oil...
    Photo from Neste.
    Neste is executing a project to expand production capacity of renewable fuels by 1.3 million tpy at its refinery at the Port of Rotterdam (Fig. 1).
    Energy Transition

    Neste targets mid-2030s shift to 100% renewables refining

    Feb. 6, 2023
    In late-2020, Neste Corp. launched a plan to restructure its refining operations in Finland as part of the operator’s strategy to ensure long-term competitiveness of its oil products...
    Image from Grön Fuels.
    Grön Fuels plans to commission Phase 1 of its Baton Rouge carbon-negative renewable fuels complex in 2025 at a production capacity of 65,000 b/d (Fig. 1).
    Energy Transition

    Carbon-negative renewable fuels complex proceeds in Louisiana

    Feb. 6, 2023
    Ongoing projections of reduced demand for finished petroleum products amid the global energy transition, alongside business strategies aimed at ensuring operational competitiveness...
    ARG Field Map. Fig. 1.
    Exploration & Development

    Oil price affects Egyptian waterflood options

    Feb. 6, 2023
    Two waterflooding options were evaluated to develop Abu Roash G (ARG) reservoir in Egypt’s Western Desert. Natural dump flood (NDF) was compared with surface injection in terms...
    Trap Locations. Fig. 1.
    Drilling & Production

    Southwestern Iraq gas traps contain recoverable reserves

    Feb. 6, 2023
    Four Khabour formation stratigraphic gas traps in the Gilgamesh area have been identified for production with expected ultimate recoverable reserves of 4.7 tcf and estimated 6...
    Midwest Carbon Express CCS Pipeline. Fig 1.
    Pipelines & Transportation

    Summit CCUS project expands pipe diameters, faces delays

    Feb. 6, 2023
    Summit Carbon Solutions has increased the planned diameter of many of the sections of its proposed 2,000-mile Midwest Carbon Express CO2 pipeline, raising its capacity to 18 million...