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Americas

EIA: Gas prices ahead of Memorial Day higher than 2016, but 2nd lowest since 2009

Gasoline prices heading into Memorial Day weekend average $2.40/gal nationally, up from last year's price of $2.30/gal. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of retail regular gasoline was $2.31/gal.

Britain's Spirax-Sarco to buy thermal tech firm Chromalox for $415 MM

(Reuters) — Britain's Spirax-Sarco Engineering Plc said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for $415 MM on a cash-free, debt-free basis.

Emerson completes acquisition of MYNAH Technologies

AUSTIN, Texas — Emerson announced it has completed the purchase of MYNAH Technologies, a long-time Emerson alliance partner and a provider of dynamic simulation and operator training software.

KBR returns to Malaysia via JV with BIV Builders

HOUSTON — KBR, Inc. announced it has signed a JV agreement with BIV Builders for a standalone, self-sufficient, long-term JV based in Kuala Lumpur, Malaysia. The JV will be known as KBIV.

Venezuela says considering options to repay debts

VIENNA (Reuters) — Venezuela is considering several options to repay its debts, the oil minister said on Thursday, after a deep recession and low crude prices hit output and prompted Caracas to seek funds from China and Russia.

US crude inventories slump amid near record refining

(Reuters) — US crude oil inventories fell for the seventh straight week as refiners processed a near record amount of crude last week, the Energy Information Administration said on Wednesday, even as gasoline and distillate stockpiles also dipped.

ACC: New report shows potential for major Appalachian petchem industry

WASHINGTON — An economic report released by the American Chemistry Council (ACC) shows that the Appalachian region could become a second center of US petrochemical and plastic resin manufacturing, similar to the Gulf Coast.

Venezuela oil executive arrested in corruption probe

CARACAS (Reuters) — Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and US major Chevron Corp, for alleged "irregularities" in contracts awarded in the oil-rich Orinoco Belt.

Measurement, Control & Automation Association introduces new brand, website

POQUOSON, VA — Parabolic flow curves were the inspiration for the new logo for the Measurement, Control & Automation Association, revealed at the MCAA Industry Forum last month in Atlanta. A completely redesigned website, TheMCAA.org, was also rolled out to the more than 240 attendees at the meeting.

Saudi Aramco plans up to $30-B investment in Motiva by 2023

HOUSTON (Reuters) — Saudi Aramco plans an investment of up to $30 B in its US subsidiary Motiva Enterprises LLC, the company said in an announcement at a business summit in Saudi Arabia.