Deal Struck to Deliver Maritime Biofuel in Fujairah
Uniper Energy DMCC (UED) and Neutral Fuels will collaborate to provide maritime biofuel in Fujairah, UAE.The companies will blend UED’s VLSFO and Neutral Fuels biofuel, creating a maritime fuel that meets IMO standard under their ISO8217:2010 RMG380 specification, cutting emissions of carbon dioxide.“The collaboration is aimed to address climate protection, the predominant social issue in the world today," said Lars Liebig, Managing Director of UED.
Marathon CEO: Consumers Will Bear Brunt of any Border Tax
Marathon Petroleum Corp's chief executive officer said on Wednesday the company would pass along any costs incurred under a Republican-backed plan to impose a tax on crude oil and other imports. The border-adjusted tax being considered in Washington would eliminate corporate income taxes on U.S. exports, including crude oil and refined products, while imposing a tax as high as 20 percent on imports. Marathon, like other U.S. refiners, imports a significant amount of crude oil.
Philadelphia Energy CEO Rinaldi to Retire in March
Philadelphia Energy Solutions Chief Executive Officer Phil Rinaldi plans to retire effective March 2017, according to a memo sent to employees on Tuesday and obtained by Reuters. Rinaldi has helmed the privately-held company since 2010, when The Carlyle Group and Sunoco formed a joint venture to buy the largest East Coast refinery, which was on the brink of closure. "We took the company off life support with help from The Carlyle Group," Rinaldi said in the memo.
ExxonMobil Sells Share of Chalmette Refining
ExxonMobil has reached an agreement with PBF Energy Inc. for the sale and purchase of its 50 percent interest in Chalmette Refining, LLC in Chalmette, Louisiana. PBF Energy will purchase 100 percent of Chalmette Refining, LLC, which is a joint venture between affiliates of Petróleos de Venezuela, S.A. (PDVSA) and ExxonMobil. The agreement includes the Chalmette refinery and chemical production facilities near New Orleans, La.
Kinder Morgan Bolsters Gulf Logistics Infrastructure
To capitalize on a flood of domestic and Canadian crude into the U.S. Gulf Coast, logistics giant Kinder Morgan Energy Partners is spending more than $1.5 billion in Houston to build the most flexible oil and fuel transport hub in the country. The company's expanding infrastructure smorgasbord includes a bit of almost everything at the increasingly crowded Houston Ship Channel - all next door to the biggest concentration of refiners in the country.
Veteran Energy Consultant Besland Joins AlixPartners
Business advisory firm, AlixPartners say that Louis Besland has joined the firm’s global Energy Practice as a managing director and will be based in the consultancy's Dubai office. AlixPartners add that Besland has deep experience in the worldwide oil, gas and chemical sectors. In total, he brings 27 years of consulting experience to his new position, including, in addition to his expertise in energy, significant strategy and operations expertise in logistics, infrastructure and government entities.
