-Valero Energy Corp. has been granted a license by the U.S. Commerce Department to re-export Canadian crude. Via the San Antonio Business Journal, Valero sought the license in order to ensure light crude deliveries to its Quebec refinery in the event that cold weather shuts down rail transport. Valero spokesman Bill Day said the company is not planning to ship heavy crude.
-Chinese and Middle Eastern refiners are expected to bring more than 3.2 million barrels per day of capacity online next year, according to a new report by Moody’s. Via FuelFix, the growth in global capacity could saturate the market for refined products, potentially minimizing the advantage Gulf Coast refiners now have due to cheap domestic supplies.
-Cheniere Energy signed a second LNG purchase agreement with Spanish power company Endesa. The latter has agreed to buy an additional 0.75 million tons per year of LNG via Corpus Christi Liquefaction. The two firms last week inked a similar deal for 1.5 million tons per year of LNG.
-Energen Corp. agreed to sell its natural gas utility business in Alabama to Missouri-based utility firm The Laclede Group for $1.6 billion. Energen is unloading Alabama Gas Corp. in order to become a pure-play E&P company.
-Liquefied Natural Gas Ltd. appointed John G. Baguley and Rick R. Cape as executive officers for the Magnolia LNG Project. Baguley, a 30-year veteran of KBR, will serve as COO. Cape, who was appointed chief commercial officer, previously served as president and CEO of Atlantic LNG Co. and also spent 20 years at BP. Magnolia LNG is developing a four-train, 8 million-tons-per-year LNG export facility in Lake Charles, La.
