Americas
CB&I to buy engineering major Shaw Group, seeks energy diversification
CB&I believes that combining the two companies will create “one of the most complete energy-focused technology, engineering, procurement, fabrication, construction, maintenance, and associated services companies in the world”. The acquisition is expected to close in early 2013.
Enbridge cleaning up Wisconsin oil pipeline spill
The incident is being investigated by US regulators, and comes at a sensitive time as the company moves ahead with controversial expansion plans two years after a larger spill from a Michigan pipeline. Enbridge said it exposed the damaged pipe in Wisconsin and moved most of the contaminated soil.
TransCanada gauges interest in Alaska LNG project
TransCanada's project was initially planned as an over-land pipeline to ship North Slope gas to the continental US by 2020. But the glut of natural gas from shale basins in the US has led Alaska Governor Sean Parnell to voice support for an alternative plan to super-cool the gas and ship it overseas to Asia.
US chemical group sees flat July, dull growth ahead
Data showed production-related chemistry indicators were mixed at best. In addition, trends in plastic resins used in consumer and institutional applications have softened and overall trends suggest slowing US exports. The preliminary July data from the CAB remained steady at 88.5.
TransCanada wins final permit to build Gulf leg of Keystone XL pipeline
With the extension, the company says Gulf Coast refiners can access cheaper domestic production and avoid paying a premium to foreign producers, thereby reducing costs.
Gasoline profits decline for European refiners amid weak demand - analysts
Massimo Vacca, head of investor relations at Italy's Saras, said the recent rise in crude prices and in gasoline stocks had contributed to the squeeze on refiners' profits. Profits on gasoline in Northwest Europe have nearly halved to $10.73/ton from $19.23/ton, the lowest level in over two months.
Smithfield CEO calls for US to cut ethanol mandate
In addition to a temporary waiver of the mandate, Congress should pass a bill that would lower the federal Renewable Fuels Standard when US corn supplies fall below a certain threshold, Smithfield CEO C. Larry Pope wrote. A waiver would ease requirements that refiners blend ethanol with gasoline.
Methanex approves Chile-to-US plant relocation
The Louisiana methanol plant is targeted to be operational by the end of 2014. The expected cost of the project, including all owners' and pre-start up costs, is about $550 million, according to the company.
Air Products to raise LNG heat exchanger capacity with new Florida plant
The new 300,000 square foot LNG manufacturing facility, which will employ approximately 250 employees in a four year ramp-up period, is to be complete and begin operations in late 2013. Air Products says the location's access to port services will facilitate global shipping of the equipment.
Ecuador picks Odebrecht to prepare refinery site
Odebrecht will prepare the construction site for the Refineria del Pacifico, a $13 billion project run by the state oil companies of Venezuela and Ecuador. The refinery, located in the coastal province of Manabi, is scheduled to go on line in 2015 and to reach its complete capacity of 300,000 bpd in 2016.
- Indonesia expects EU to adjust palm oil biofuel stance after EU ruling 1/17
- First-ever ammonia and propane co-loaded vessel completes voyage from U.S. to Europe 1/17
- China's vast refining sector faces shakeout as fuel demand peaks 1/17
- Oman Oil Marketing Co. and TFG Marine establish bunker fuel supply JV 1/17
- Beware Egypt's smokestack onshoring as cement exports surge 1/17
- Petrobras reports record high refinery output in 2024 1/17
