Texas regulators issue key permit for 30,000-bpd oil facility
Raven Petroleum LLC has received an air permit from the Texas Commission on Environmental Quality (TCEQ) regarding a proposed 30,000-bpd crude fractionation unit in Duval County, Texas. This would allow Raven to produce ultra-low sulfur diesel (ULSD), stabilized naphtha and fuel gas.
The new Raven facility will be strategically located between some of the most significant oil and gas development in the U.S. At the crossroads of the Permian Basin, Wolfcamp and Eagle Ford shales, the facility will have proximity to the Gulf Coast, Mexico and other domestic markets. This facility's new refining capacity is needed in an effort to meet the demand of end users and the company's current offtake arrangements.
Raven continues to look at other large land positions on the Gulf Coast, in the Midwest and abroad. Any of these sites could host petroleum refining projects, depending on overall project economics.
For more information, visit www.ravenpetro.com or call (713) 973-2088.
U.S. refinery runs hit fifth consecutive annual record high
Gross inputs to U.S. petroleum refineries, also referred to as refinery runs, averaged 17.3 million bpd in 2018, the highest annual average on record and the fifth consecutive year of record-high refinery runs. Refinery runs peaked at an average of 18 million bpd, with average weekly runs exceeding 18 million bpd during six weeks in 2018.
The record-high U.S. gross refinery input levels are driven in large part by refinery operations in the Gulf Coast and Midwest regions (Petroleum Administration for Defense Districts 3 and 2, respectively).
In the Gulf Coast, home to more than half of all U.S. refinery capacity, refinery runs averaged more than 9.2 million bpd in 2018, 8-percent higher than the previous five-year average for that region and the first time the annual average surpassed 9 million bpd.
For more information, visit www.eia.gov or call (202) 586-8800.
GBRIA welcomes ExxonMobil's polyolefin investment decision
In response to ExxonMobil's decision to invest in the Baton Rouge polyolefin facility, Greater Baton Rouge Industry Alliance (GBRIA) Executive Director Connie Fabre made the following statement:
"ExxonMobil's decision to invest in the Baton Rouge polyolefins facility is a win for the Capital Region's workforce and small businesses, a win for area teachers and students and a win for our economy: $30 million in sales taxes will flow into East Baton Rouge Parish mostly this year and over $20 million in property taxes over the next 20 years. But it almost didn't happen. While neighboring parishes and states are welcoming investments such as these with open arms ⦠we must make it easier for companies to invest here. Our region's future growth and economic viability depend on it."
For more information, visit www.gbria.org or call (225) 769-0596.
INEOS Styrolution makes breakthrough in polystyrene
INEOS Styrolution has completed the first successful test runs producing virgin polystyrene from previously depolymerized material. These experiments can be seen as the practical proof of the recyclability of polystyrene.
A lab-scale quantity of general-purpose polystyrene produced from 100-percent recycled styrene monomer signals a game-changer in polystyrene production. The material is the result of experimental polystyrene production runs with styrene monomer feedstock produced from depolymerization of styrenic plastic. The tests -- done in cooperation with commercial partners and universities -- resulted in the production of virgin material with the same product properties as polystyrene produced from new styrene monomers. This research is part of INEOS Styrolution's ambitious efforts aiming at circularity for styrenics to save valuable resources, recycle styrenic waste and reduce its ecological footprint.
For more information, visit www.ineos-styrolution.com.