CITGO Corpus Christi Refinery earns third Energy Star certification

For the third time in four years, the CITGO Corpus Christi Refinery has earned the U.S. Environmental Protection Agency's ENERGY STAR certification, distinguishing the plant as a leader in energy and environmental management in the petroleum industry, said Hydrocarbonprocessng.

"We are proud to have earned the 2023 ENERGY STAR certification," said Dennis Willig, Vice President and General Manager Corpus Christi Refinery, "and our employees remain committed to producing our products safely, reliably and with respect to our environment and surrounding communities. This certification is proof of that."

Energy management is a priority of CITGO operations, and the Corpus Christi refinery has applied dozens of programs and improvements to achieve high efficiency and ultimately earn ENERGY STAR recognition, including:

"CITGO became an ENERGY STAR partner in 2022, but our focus on energy efficiency began at Corpus Christi several years prior," said CITGO Chief Operating Officer and Executive Vice President Edgar Rincon. "I want to congratulate our Corpus Christi employees, as earning this certification is a refinery-wide commitment. Every plant employee should be proud of this significant achievement."

ENERGY STAR certification eligibility requires that refineries achieve top quartile energy performance according to the Solomon Associates Energy Intensity Index (Solomon-EII). Eligible plants then must apply for certification by undergoing a third-party environmental screening and issuing a Statement of Energy Performance from Solomon Associates verified by a certified professional engineer.

The CITGO Corpus Christi Refinery has been a community staple for 88 years, providing over 1,000 local jobs and generating over $345 million per year for the local economy. In addition to producing high-quality products, refinery employees are dedicated to serving the local community and preserving the natural environment for the enjoyment of all.

We remind, India's Russian oil imports in November rose to a 4-month high of 1.6 million barrels per day (bpd), up 3.1% from October, making up about 36% of the nation's overall imports last month, data obtained from trade sources showed. Russia became India's top oil supplier this year as the south Asian nation was drawn to Russian oil discounts after some Western companies shunned purchases from Moscow following its invasion of Ukraine in February last year.

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Abu Dhabi National Oil Co is closing in on a deal with Austria's OMV to combine two entities in which the companies own stakes to create a chemicals giant, two people with knowledge of the talks said to Reuters.

In July OMV said it had entered into talks to merge petrochemicals group Borealis - which is owned by OMV and ADNOC in a 75:25 split - and Borouge, which is 54:36 owned by ADNOC and Borealis.

An agreement is imminent between the two sides and could be announced as soon as today, the people said, speaking on condition of anonymity. The emerging entity will be valued around $30 billion, one of the people said.

The framework agreement to be unveiled will include a capital infusion to ensure both parties have the same equity share in the new company, the person said. ADNOC and OMV declined to comment. OMV shares spiked higher, last up 3.6%, after Reuters reported that the two sides were close to agreement.

Previously OMV said both Borealis and Borouge would become "equal partners under a jointly controlled, listed platform for potential growth acquisitions to create a global polyolefin company".

The new company would emerge as a global heavyweight with combined annual sales of more than $20 billion. OMV Chief Executive Alfred Stern has described the transaction as having "strong and compelling industrial logic".

We remind, ADNOC, announced that it has opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station, to test a fleet of zero-emission hydrogen-powered vehicles. The station, which is located on land provided by Masdar City and operated by ADNOC Distribution, will create green hydrogen from water using an electrolyser powered by clean grid electricity.

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Dow announced that it has been named to the Dow Jones Sustainability World Index (DJSI) by S&P Dow Jones Indices, the world's leading index provider focused on providing essential sustainability intelligence. This is the 23rd year Dow has achieved this prestigious ranking as one of the top companies in the global chemical industry in terms of sustainability performance.

"It is an honor to once again be recognized among this respected corporate sustainability benchmark, which continues to raise the bar in performance and disclosure transparency expectations," said Andre Argenton, chief sustainability officer and vice president of Environment, Health, Safety and Sustainability for Dow. "Our ambition to become the most innovative, customer-centric, inclusive and sustainable materials science company in the world propels us to continue advancing a sustainable future for the world as we deliver value growth to all our stakeholders."

Dow also remains listed on the DJSI North America Index for the 18th consecutive year. Listing on these indices is based on company sustainability performance in a broad range of cross-sectoral and industry-specific topics across governance and economic, environmental and social dimensions. These scores reflect the Company's continued focus on its ambition in action, performance, accountability and transparency.

The Dow Jones Sustainability Index and the DJSI World Index were launched in 1999 as the pioneering series of global sustainability benchmarks available in the market. The index family is comprised of global, regional and country benchmarks.

PDVSA and U.S. oil major Chevron have requested a 15-year extension for two of their joint ventures from the country's oil ministry, the deputy minister Erick Perez said on Wednesday. PDVSA and Chevron have expanded operations since late last year under a special U.S. license, allowing Venezuela to resume crude exports to what was its largest market, the United States. But more investment is needed to reach production levels seen before oil sanctions were first imposed in 2019.

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The European Union (EU) Innovation Fund has selected LyondellBasell Industries NV’s advanced recycling project at Wesseling, Germany, to receive a €40 million grant, said the company.

The fully-electrified, industrial-scale plant, which will demonstrate the company’s MoReTec recycling technology, is one of 41 projects selected for grants during the Innovation Fund’s “Third Call for Large Scale Projects,” the company announced on Dec. 13.

LyondellBasell made a final decision to proceed with the project in November. Construction of the plant, which will have capacity to produce 50,000 metric tons per year of pyrolysis oil from plastic waste, is slated for completion by the end of 2025.

We remind, PDVSA and U.S. oil major Chevron have requested a 15-year extension for two of their joint ventures from the country's oil ministry, the deputy minister Erick Perez said on Wednesday. PDVSA and Chevron have expanded operations since late last year under a special U.S. license, allowing Venezuela to resume crude exports to what was its largest market, the United States. But more investment is needed to reach production levels seen before oil sanctions were first imposed in 2019.

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Chemical rail traffic in North America remained high entering the last month of 2023, according to new data from the Association of American Railroads (AAR).

During the week ended Dec. 9, chemical railcar volume in North America totaled 45,470 carloads, down 10.2% from the previous week and up 9.3% year over year. The four-week moving average (4wma) came to 46,556 carloads, down 0.1% sequentially, up 11.7% year over year and up 6.5% from the seasonal trendline, as represented by the average for 2014–22.

In the US, 4wma chemical railcar volume came to 31,129 carloads, up 0.2% sequentially, up 5.7% year over year and down 0.0% from the region's seasonal trendline (right chart). In Canada, 4wma chemical railcar volume came to 14,629 carloads, down 0.6% sequentially, up 30.5% year over year and up 25.6% from the trendline. In Mexico, 4wma chemical railcar volume came to 798 carloads, down 4.9% sequentially, down 21.8% year over year and down 21.8% from the trendline.

For the year to date, chemical railcar volume in North America is up 0.2%, while total railcar volume is up 1.2%. US chemical railcar volume is down 1.2% on the same basis, while Canadian chemical railcar volume is up 30.5% and Mexican chemical railcar volume is up 13.1%.

We remind, The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending December 2, 2023, as well as volumes for November 2023. U.S. railroads originated 1,128,573 carloads in November 2023, down 0.0 percent, or 102 carloads, from November 2022. U.S. railroads also originated 1,279,906 containers and trailers in November 2023, up 5.0 percent, or 60,486 units, from the same month last year. Combined U.S. carload and intermodal originations in November 2023 were 2,408,479, up 2.6 percent, or 60,384 carloads and intermodal units from November 2022.

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