PHMSA releases preliminary report on Plains line failure in California

External corrosion under the insulation caused the May 15, 2015, rupture of a Plains All American crude oil pipeline in California, the US Pipeline and Hazardous Materials Safety Administration said in a preliminary report from its ongoing investigation of the incident. Source: News

Phillips 66 Partners to buy interest in Sweeny NGL fractionator

Phillips 66 Partners LP has agreed to acquire 25% controlling interest in Phillips 66 Sweeny Frac LLC, owner of the newly constructed Sweeny Fractionator One and Clemens Caverns storage facility, from Phillips 66 Co. for $236 million. The deal is expected to close in early March. Source: News

Hirshberg, Fox take new executive roles at ConocoPhillips

Al Hirshberg has been named ConocoPhillips executive vice-president, production, drilling, and projects. He currently serves as executive vice-president, technology, and projects. Matt Fox has been named executive vice-president, strategy, exploration, and technology. He’s currently executive vice-president, exploration and production. Source: News

Non-US investment cuts may affect global outlook, EIA official says

Overseas investment decisions could have a bigger impact on global petroleum markets in 2016 than exporting countries’ volume reductions or geopolitics amid continuing depressed crude oil prices, US Energy Information Administration Deputy Administrator Howard Gruenspecht suggested to a Washington audience. Source: News

CHS commissions coker at Kansas refinery

US farmer-owned cooperative CHS Inc., Inver Grove Heights, Minn., has commissioned a delayed coking unit to replace a more than 60-year-old unit at its 85,000-b/d McPherson refinery in central Kansas. Source: News

Statoil hands over Maersk Gallant rig to Total

Statoil ASA has elected to cancel its contract for the Maersk Gallant jack up rig, which is now under a new contract with Total E&P Norge AS spanning from Feb. 14 to Aug. 21. Source: News