Americas
MMEX Resources announces plans for initial 10 Mbpd Permian Basin refinery
AUSTIN, TEXAS — MMEX Resources Corp., a development-stage company focusing on the acquisition, development and financing of oil, gas, refining and infrastructure projects in Texas and South America, announced an agreement with Crown Bridge Partners, LLC for an issuance of up to $3 MM of equity securities, as well as plans to build a 10,000 bpd crude distillation unit near Fort Stockton, Texas as an initial unit for the $450 MM, 50,000 bpd Pecos County refinery project announced by MMEX earlier this year.
Flowchem sale to specialty chemicals company KMG completed
NEW YORK — Arsenal Capital Partners completed the previously announced sale of its portfolio company Flowchem, a manufacturer of pipeline performance products, to KMG, a global provider of specialty chemicals, for $495 MM.
Shareholders approve all-share offer by Wood Group for Amec Foster Wheeler
Shareholders of Wood Group and Amec Foster Wheeler overwhelmingly approved Wood Group’s recommended all-share offer for Amec Foster Wheeler. The deal remains subject to relevant clearances from competition authorities in certain countries where both companies operate. It is expected that the transaction will complete in the fourth quarter of 2017.
Oil hits six-week low as OPEC fails to curb oversupply
LONDON (Reuters) — Oil prices dropped to six-week lows on Thursday, under pressure from high global inventories and doubts about OPEC's ability to implement agreed production cuts.
Brazil's Petrobras cuts gasoline and diesel prices
SAO PAULO (Reuters) — Brazil's state-controlled oil company Petroleo Brasileiro SA reduced on Wednesday its average prices at refineries by 2.3% for gasoline and 5.8% for diesel, the company said in a securities filing.
Synthetic crude rises on extended Syncrude oil sands cuts
CALGARY, Alberta (Reuters) — The price of oil sands synthetic crude strengthened on Wednesday after the majority owner in the Syncrude oil sands project in northern Alberta said maintenance on the facility had been extended.
EIA: Global oil markets expected to tighten in Q3 2017, then loosen through 2018
Forecast world production of crude oil and other liquids in 2017 and 2018 was revised slightly downward in the June edition of EIA’s Short-Term Energy Outlook (STEO), which was issued after the May 25 announcement by the Organization of the Petroleum Exporting Countries (OPEC) of an extension to production cuts that were originally set to end this month.
US judge orders more environmental analysis of Dakota pipeline
WASHINGTON (Reuters) — A federal judge ordered the US Army Corps of Engineers to reconsider its environmental review of the Dakota Access Pipeline on Wednesday, opening up the possibility that the line could be shut at a later date.
Fire breaks out at Mexico's top refinery, 9 people hurt
MEXICO CITY (Reuters) — A major fire broke out at Mexican state oil producer Pemex's Salina Cruz refinery on Wednesday after a crude spill, injuring nine people and extending the shutdown of the plant into a second day, the company said.
US EPA extends delay of oil, gas rules to two years
WASHINGTON (Reuters) — The US Environmental Protection Agency said Tuesday it would propose a two-year stay of the previous administration's oil and gas industry methane emissions standards while the agency reconsiders the regulation.
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