Petroleo Brasileiro SA shouldered at least 829 million reais ($373 million) in spending at an oil refinery that a Brazilian state had previously agreed to assume after requests by then governor Eduardo Campos, according to internal documents obtained by Bloomberg News.
Southern Green Canyon grade weakened 60c/bbl to discount of $4.35 vs WTI at 107pm, according to data compiled by Bloomberg. * Southern Green Canyon is medium- density, high-sulfur crude produced in Gulf of Mexico; delivered to Nederland, Texas, near Port Arthur refining hub, by offshore pipeline * Motiva reduced rates at largest crude unit at 600k b/d Port Arthur refinery because a column flooded: person familiar with operations there * Mars Blend -5c/bbl to $1.30 discount * Thunder Horse +10c/bbl to 75c premium * Light Louisiana Sweet +5c/bbl to $2.95 premium * Heavy Louisiana Sweet +45c/bbl to $4 premium * Poseidon -5c/bbl to $2.75 discount
Motiva Enterprises LLC had to adjust its strategy for the $10 billion expansion of the Port Arthur, Texas, refinery because of a boom in U.S. oil production, Bob Pease, the company’s chief executive officer, said.
John K. McKinley, the chief executive officer who tried to resuscitate Texaco Inc. before a jury asked it to pay a then-record $10.53 billion in damages as part of a lawsuit that led to the biggest U.S. bankruptcy, has died. He was 94.