Petrobras closes contaminated gasoline pipeline
Brazil's state-controlled Petrobras temporarily closed its 266km (165-mile) Opasc refined products pipeline because of sulfur contamination.
Industry associations asked Brazil's regulator ANP to temporarily increase Brazil's gasoline sulfur limit to 170ppm from 50ppm to avoid shortages, and that contaminated the line.
ANP said it is analyzing the contamination issue. Petrobras did not respond to a request for comment at the time of publication.
The pipeline links the 208,000 b/d Presidente Getulio Vargas refinery (REPAR) in the state of Parana to Itajai terminal in the state of Santa Catarina.
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UAE air traffic recovery begins after storm disruptions
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Singapore, 18 April (Argus) — Air traffic at Dubai International (DXB) has begun to recover after an unprecedented storm hit the country on 16 April, although flight delays are expected to continue. "DXB resumed inbound flights of international airlines operating out of terminal 1", a spokesperson for DXB operator Dubai Airports said on 18 April. But it urged travellers not to come to the terminal for outbound flights before confirming their flight status, as it said the access to the terminal is "strictly limited" to guests with confirmed departures. Prolonged flight disruptions at DXB, which was ranked the second-busiest airport in the world in 2023, according to the Airports Council International's preliminary ranking, could affect regional jet fuel demand. Dubai low-cost carrier flydubai said it has now resumed partial operations from DXB, having previously cancelled all of its flights scheduled to depart from Dubai on 16 April evening until 10am on 17 April. Select outbound flights were to operate from DXB's terminal 2 with scheduled operations resuming after 8pm on 17 April, it said, while flights from terminal 3 were due to resume after midnight. But Dubai-owned Emirates Airlines has extended the suspension on check-in for passengers departing DXB until 9am on 18 April, after having initially suspending it between 8am and midnight on 17 April. The airline said the extension was because of "continued operational challenges caused by bad weather and road conditions". Neighbouring Abu Dhabi's Zayed international airport said it is "operating smoothly", despite issuing a warning on 17 April that some flights might be delayed. By Ieva Paldaviciute Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
June deadline set for Citgo auction bids
June deadline set for Citgo auction bids
Houston, 17 April (Argus) — Bidders for Citgo's US refining assets have until 11 June to submit offers for the company's 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set 11 June as the deadline for interested parties to submit final binding bids after non-binding bids were received 22 January. The court began the auction process for Citgo's parent PdV Holding (PdVH) in October, part of the process of satisfying debts owed by Venezuelan-state owned oil company PdV. The court will file a notice of a successful bid "as soon as reasonably practicable" following the 11 June deadline and selection of a successful bidder. No date has been set for the filing of objections to the sale or replies to the objections before the tentative 15 July hearing. The legal wrangling over Citgo is unlikely to conclude even if the Delaware court successfully executes the sale as 27 businesses have filed claims against Citgo amounting to more than $21bn. The scale of Citgo's operations in the US are also a challenge to any potential buyer. Few companies look ready to buy the company's three refineries, three lubricants plants and retail and midstream assets. The assets have been valued by various analysts anywhere between $6.5bn and $40bn, with a lofty valuation potentially deterring bidders. But the auction process itself has been the main cause for concern. Independent refiner PBF Energy's chief executive Matthew Lucey previously called the auction a "quagmire" , considering its ties to a complex geopolitical situation in Venezuela, saying he did not expect the sale to go anywhere in the near term. Marathon Petroleum expressed similar disdain. "We're not interested in the auction process," Marathon chief executive Michael Hennigan said on an earnings call in October . By Nathan Risser Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
Idemitsu books rare US Gulf-Vancouver HVO cargo
Idemitsu books rare US Gulf-Vancouver HVO cargo
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Exxon German refinery sale in limbo after court ruling
Exxon German refinery sale in limbo after court ruling
Hamburg, 17 April (Argus) — ExxonMobil's plan to sell its share in German refining joint venture Miro has been delayed by a court order following a petition by fellow Miro shareholder Shell. ExxonMobil agreed to sell its 25pc stake in Miro , operator of the 310,000 b/d Karlsruhe refinery, to Vienna-based Alcmene in October last year. The two sides were aiming to close the deal in the first quarter of this year, but in a letter seen by Argus last month, ExxonMobil said completion had been pushed back to the summer because some of the administrative procedures had yet to be finalised. Argus has since learned that a regional court in Karlsruhe issued an interim order against the sale on 18 January at Shell's request. Shell originally petitioned a court in Hamburg on 20 November, but the case was later moved to Karlsruhe, according to a court spokesperson. The judgement prohibits ExxonMobil from splitting off or transferring its Miro shares. The firm has already appealed against the judgement to a higher court in the region. A decision is pending. Exonmobil's partners in Miro are Shell with a 32.25pc stake, Russia's Rosneft with 24pc and US firm Phillips 66 with 18.75pc. Rosneft's German refinery assets have been under state trusteeship since September 2022. By Natalie Mueller Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.
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