Americas
Europe plays increasing role in US gasoline market
The current state of the crude oil and refining industry in the Northern Atlantic basin has led to excess European gasoline production playing a vital role, says one analyst. That additional production could be saving the US East coast from shortages, he explains.
ADT North America unit changes name to Tyco Integrated Security
Tyco International said Thursday that its ADT North America Commercial Security business unit will officially go by its new name, Tyco Integrated Security, effective immediately. The name change reflects the company’s exclusive focus and commitment to providing security solutions.
US ethylene costs recovering after 20-month low
The US spot ethylene price touched 39.5 cents/lb on June 13, extending its drop from a seven-year high of 75.12 cents/lb on April 5 after unplanned plant outages and scheduled maintenance caused supply to fall short of demand, according to the pricing service.
Nigeria signs $4.5bn refinery deal with US company Vulcan Energy
The deal between US-based Vulcan Energy, the Nigerian government and a local firm, aims to build six refineries with a combined capacity of 180,000 bpd, Nigeria's Trade and Investment Ministry said in a statement, which also listed the 697.5 billion naira ($4.5 billion) price tag.
EPA excludes smaller US plants from new GHG rule
Fresh off a legal victory upholding its rules on greenhouse gas emissions, the Obama administration has decided to go easy on "smaller" facilities that emit carbon dioxide, methane and other pollutants. This protects thousands of facilities from having to undertake measures to cut emissions.
BASF acquires US cast elastomers producer ITWC
With more than 80 employees, including business management, manufacturing, R&D, sales, and administrative functions, ITWC operates sites in Malcom, Iowa, and Riverside, California. BASF is acquiring the assets of ITWC, including those obtained during ITWC's purchase of Hydroseal Polymers.
US sees higher July 4 holiday travel on low gasoline
The price of motor gasoline is another factor expected to play a role in spurring American travel intentions, AAA found. The current national average price of regular gasoline is $3.50/gal, 44 cents lower than the April peak and 16 cents less than this time last year.
Carlyle, Sunoco reach pact to keep Philadelphia refinery in operation
The refinery under Carlyle is expected to become a major new user of the domestic crude that has backed up at an Oklahoma trading hub unable to reach coastal refineries. The Philadelphia refinery could begin processing US crude by the beginning of next year, increasing its demand over time.
Grace signs catalyst deal with Braskem for 'green' chemicals production
WR Grace signed a multi-year deal with Braskem to develop process technologies and catalyst solutions to produce green chemicals. The technology being developed is based on carbon sources from renewable agricultural processes that contribute to lower carbon emissions than traditional feedstocks.
Eastman completes $4.8bn acquisition of Solutia
The $4.8 billion acquisition supports Eastman’s growth strategy to increase revenues and profit margins by expanding the company’s geographic reach, especially in emerging markets, and by establishing a more diverse and sustainable product portfolio, the company said.
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