Downstream

Mexico’s state oil and gas giant Petróleos Mexicanos (Pemex) had a strange third quarter. Amid record commodity prices, the company posted a massive loss. But it also produced more hydrocarbons, in particular natural gas. In an earnings call last week, executives tried to put a positive spin on the results. They highlighted that Pemex liquids…

Houston-based Par Pacific Holdings Inc. is snapping up ExxonMobil’s 63,000 b/d Billings, MT, oil refinery and associated assets to expand and diversify its portfolio. The transaction also is to include hydrocarbons and inventory, which would be valued at closing.  Par’s total throughput capacity would increase to 218,000 b/d. More than $30 million in commercial and…

Two major petrochemical projects planned for Louisiana’s St. James Parish are facing permitting obstacles following recent decisions that may affect them moving forward. A court ruling has stalled FG LA LLC’s plan to build a massive $9.4 billion plastics facility. The affiliate of global conglomerate Formosa Group has had the Sunshine Project on the drawing…

Mexican President Andrés Manuel López Obrador’s campaign promise of a refinery for his home state of Tabasco is being delivered this week. The 340,000 b/d Olmeca refinery in Dos Bocas will be inaugurated on Friday, July 1, exactly four years after López Obrador won the presidency. “With president López Obrador inaugurating his flagship Olmeca refinery,…

“I believe it is important for public and private sectors to not focus solely on increasing the participation of women in terms of labor, but rather there be a true revolution within the interior of institutions and companies to really reduce the gender gap,” María Luisa Licón, legal counsel at Marathon Petroleum Corp. and founding…

Mexico Energy Minister Rocío Nahle and Petróleos Mexicanos (Pemex) CEO Octavio Romero Oropeza took the stage during President Andrés Manuel López Obrador’s morning press conference on Tuesday to outline their plans for getting to energy self sufficiency and boosting natural gas output.  With a three-year plan focused heavily on the downstream, the two officials said…

Mexico president Andrés Manuel López Obrador said Wednesday that the U.S. Treasury Department has approved Shell plc’s sale of its 50.005% stake in the Deer Park, TX, oil refinery to Mexican state oil company Petróleos Mexicanos (Pemex). The 340,000 b/d refinery currently operates as Deer Park Refining LP, a joint venture between Shell and Pemex.…

Management of refining giant Valero Energy Corp. painted a bullish picture for oil products demand on Thursday, citing low inventories and surging global natural gas prices among factors boosting healthy crack spreads for U.S. refineries. “Refining margins were supported by strong recovery in product demand coupled with product inventories falling to low levels during the…

Videos circulated on Wednesday of violent clashes between security forces and striking employees of construction firm ICA Fluor at the Dos Bocas oil refinery construction site in Mexico’s Tabasco state.  Workers reportedly are demanding better pay and working conditions before resuming work on the refinery, one of the flagship public works promoted by President Andrés…