Americas
BP plans $350mn expansion for Brazil ethanol plant
Processing capacity will double to 5 million tons of sugarcane, thereby producing 450 million litres/year of ethanol equivalent. The mill will be operating at full capacity by the end of 2014 or early 2015.
China calls on West to reduce GHG emissions
Poorer countries argue the West should lead from the front in cutting greenhouse gases because it is largely responsible for the heating of the planet since industrial times. China, the world's top polluter, says it aims to cut its emissions by between 40% and 45% by 2020.
US energy sector poised for rising M&A activity
Volume and value levels in oil and gas are close to 2011 levels with an increase in mega deals led by private-equity funds that have increased their investment and exposure to the energy industry. PwC said it expects deal activity to rise in 2013, with ongoing consolidation in shale plays very likely.
RINA wins engineering, design deal for expansion of Greek LNG terminal
The expansion of the LNG Revithoussa terminal cryogenic facilities will boost the maximum sustainable gas send-out rate to 1400 Nm3/h, with a peak rate of 1650 Nm3/h. Financial terms weren't disclosed.
Plains to buy five crude oil rail terminals in US
The deal includes three crude-oil rail loading terminals in the Eagle Ford, Bakken and Niobrara producing regions, a rail unloading terminal at St. James, La., and a project to construct a crude oil unloading terminal near Bakersfield, Calif. Plains expects to complete the purchase before the year end.
US study shows LNG exports can benefit economy
The long-awaited study, twice delayed by the Energy Department, will help the Obama administration decide whether to approve more than a dozen proposals to export US natural gas. The study delivers a solid endorsement of natural-gas exports at a time when the issue is hotly debated.
BASF North American CEO predicts weak global demand for 2013
The CEO said that low US natural gas prices were, on margin, a reason to consider more investment in chemical manufacture. The possibility of exporting lower-cost chemicals to foreign markets was less feasible because there was insufficient infrastructure to transport chemicals for shipping.
US ethylene costs fall to lowest level since August
US ethylene prices ended November at 50.375 cents/lb, down from 54.5 cents/lb at the end of October and close to the previous low on August 9 of 50.125 cents/lb. Ethane and propane, two of the raw materials used to make ethylene, also saw price decreases in November.
Progress, Petronas move to design phase for LNG export proposal in Canada
The big energy companies, which are awaiting Canadian government approval for their multibillion dollar tie-up, said a detailed feasibility study for the proposed facility has been completed and the project is now moving into the pre front-end engineering design, or pre-FEED, phase.
US monthly oil production climbs to 14-year high
Such statistics reflect the US's growing role as a dominant energy producer. Earlier this year, the International Energy Agency said the US could overtake Saudi Arabia as the world's largest oil producer by 2020 - a trend that would transform global energy markets as well as international politics.
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