Elliott Affiliate's Citgo Bid to be Challenged
Companies seeking to claim proceeds from a court auction of shares in a parent of Venezuela-owned Citgo Petroleum are pressing a U.S. court to lift an exclusivity deal with an affiliate of Elliott Investment Management, which could pave the way for at least two new bids…
Cesarek Joins Gevo
Gevo, Inc. has announced the appointment of Tim Cesarek to the newly created position of Executive Vice President and Chief Commercial Officer. Cesarek brings over 20 years of knowledge and experience in strategic and commercial transactions, with 15 years in the field of renewable resource based fuels and chemicals.
Koch Supply & Trading slashes Staff in Restructuring
Global commodity trader Koch Supply & Trading has cut dozens of workers across at least four offices worldwide, several sources said on Tuesday, as the firm restructures its business. The cuts at the unit of Koch Industries Inc, the industrial conglomerate of billionaire conservatives Charles and David Koch…
U.S. Biofuels Mandates Under High Stakes Scrutiny
U.S. biofuels regulations, which mandate mixing corn-based ethanol into gasoline, have lately drawn together a diverse cast of political opponents. They include an upstart gas station owners' trade group, a former Obama administration environmental adviser and billionaire activist investor Carl Icahn…
Vitol to Acquire Rotterdam Splitter from Koch
Commodities trader Vitol has agreed to buy an 85,000 barrel per day (bpd) condensate splitter in the Netherlands from Koch Supply and Trading, a subsidiary of U.S. conglomerate Koch Industries, Vitol said in a statement on Tuesday. The world's largest oil trader…
Koch Wants to Pull Out of Oil Sands Project in Canada
U.S.-based Koch Industries Inc's oil sands subsidiary in Canada wants to pull out of a project in the Muskwa region in the province of Alberta, citing economic and regulatory uncertainties, the local energy regulator said on Monday. This month Canada's year-old Liberal government…
Burning petcoke cargo on ship holds up Venezuela exports
Venezuela's exports of petroleum coke, derived from the country's heavy oil, have been halted at its Petrosanfelix terminal since last week due to a burning cargo on a ship, according to a source and documents seen by Reuters on Friday. The bulk carrier Top…
US House Opposes Carbon and Oil Taxes in Symbolic Votes
The Republican-controlled U.S. House of Representatives voted largely along party lines on Friday to reject any new taxes on carbon emissions and oil production. The two non-binding actions were intended to get Republicans on the record opposing higher taxes…
US Gulf Coast Diesel Exports Down Sharply
Diesel fuel exports from the U.S. Gulf Coast declined sharply since December as increasing output from refiners in South American markets and brimming stocks in Europe squeezed key outlets, Thomson Reuters data show. As a result, distillate inventories in the…
Colonial, Shippers to Face off over Pipeline Congestion
Executives from Colonial Pipeline, which runs the main fuel artery for the U.S. Atlantic Coast, will be questioned by customers and regulators on Wednesday after worsening congestion spawned secondary markets for space on the system, driving up costs for wholesale diesel and gasoline buyers.
ClearSign Inks Tesoro Emissions System Deal
ClearSign Combustion Corp, a small company whose technology helps refiners cut nitrogen oxide emissions, has signed a deal with Tesoro Corp to retrofit a Los Angeles refinery heater with a combustion control system. The refinery, which supplies 50 percent of the jet fuel used by Los Angeles International Airport…
Stabilis to Close Encana Natural Gas Acquisition
Combined Company to Be a Leading Provider of Liquefied Natural Gas Fueling Solutions to High Horsepower Engines. Stabilis Energy announced that it has closed its previously announced acquisition of substantially all of the U.S. based assets of Encana Natural Gas Inc. (ENGI).
Koch Industries to Buy PetroLogistics for $2.1 bln
Propylene producer PetroLogistics LP said it will be taken private by a unit of Koch Industries Inc in a deal worth $2.1 billion, including debt. Flint Hills Resources LLC will pay $14.00 per in cash for each PetroLogistics unit, except for units owned by a few select investors.
New Nylon Pipe, Alternative for Oil Industry
A unit of Koch Industries said on Wednesday it was introducing a new type of pipe made from nylon, as surging oil and gas output drives demand for new pipelines and concerns mount about the safety of older ones across North America. Koch's Invista unit said…
