-Tesoro today said it would invest $400 million to produce petrochemical feedstock in its West Coast refining system. Tesoro will gather intermediate feedstock, primarily reformate, for xylene extraction at Anacortes, Wash. The project will recover up to 15,000 barrels per day of mixed xylene, most of which will be exported to Asia. A final investment decision is expected by the end of this year, and the new facilities are expected to start up in 2017.
-Westlake Chemical Partners — Westlake Chemical’s new ethylene production spin-off — today launched an IPO. Westlake announced in April it would separate the ethylene business, including production units in Lake Charles, La., and Calvert City, Ky., and an ethylene pipeline from Mont Belvieu to Longview, Texas. Westlake Chemical will buy 95% of the ethylene produced by the new firm through the end of 2026.
-Delta Air Lines subsidiary Monroe Energy struck a five-year deal with midstream firm Bridger to purchase 65,000 barrels per day of Bakken oil for use at Monroe’s Trainer, Pa., refinery. Monroe is replacing more expensive crude it previously purchased from overseas to manufacture jet fuel for Delta.
-Diamondback Energy agreed to acquire more than 13,000 net acres with production of more than 2,000 barrels of oil equivalent per day in Texas’ Midland Basin.
-Halliburton promoted Executive Vice President and COO Jeff Miller to president and appointed him to the company’s board of directors. Miller is a 17-year veteran of Halliburton who has served in various senior management roles within the company. He was named executive vice president and COO in 2012.
Photo by Walter Siegmund/Wikipedia
