-Refineries are delaying maintenance from 2015 to 2016 as they take advantage of “incredible” margins and strong demand for refined products, according to an analyst at Energy Aspects Ltd. Via Bloomberg, the gasoline crack spread is at its highest level since March. Meanwhile, West Texas Intermediate crude reached its highest settlement since early December amid record refinery run rates.
-A section of the Houston Ship Channel was closed Wednesday morning due to a naphtha spill from a barge at a Chevron facility. Via Platts, a barge turning in the channel near Greensport Industrial Park struck the Chevron barge, spilling about 4,000-8,000 gallons of naphtha, according to local media reports. The channel was reopened early Wednesday afternoon.
-A William Companies natural gas pipeline in Pennsylvania ruptured Wednesday, resulting in a brief local evacuation but no injuries. Via Reuters, Williams said the rupture occurred in a section of the Transco Leidy pipeline, which transports gas from the Marcellus Shale to the main Transco pipeline in New Jersey. There was no fire and no impact to service.
-Hess Corp. sold a 50% stake in its midstream network to private equity house Global Infrastructure Partners for $2.7 billion. Via FuelFix, the deal creates a joint venture that plans to create a master limited partnership with the assets. Hess CEO John Hess said the venture would be one of the largest midstream operators in the Bakken region. Hess grew its oil output from the Bakken by 70% year-over-year in the first quarter of 2015.
-PPG Industries agreed to acquire Indiana-based specialty powder and liquid coatings manufacturer IVC Industrial Coatings. IVC supplies coatings for industrial containers, among various other applications.
