Americas
Marathon Oil boosting capital spending by $1 billion
Marathon Oil Corp. said Wednesday that it will increase its capital spending by $1 billion in 2012 as it moves to develop acreage in the Eagle Ford shale of South Texas. The firm plans to spend $4.82 billion on capital projects in 2012, up from its plan to spend $3.89 billion in 2011.
BP accuses Halliburton of destroying test results on Deepwater Horizon cement
BP accused oilfield-services giant Halliburton of destroying unfavorable results from tests on cement used to plug the leaking well in the Deepwater Horizon disaster. In a motion filed with a US court in Louisiana, BP said that Halliburton's own tests after the incident showed the cement slurry was unstable and claimed the company destroyed the results of the test and misplaced key data.
IEA says nations must act independently on climate
With little hope for significant progress on a major international climate agreement at this week's climate negotiations, nations must take it upon themselves to reduce emissions and mitigate climate change, the head of the IEA said Tuesday. To limit rising temperatures to an average of 2 degrees Celsius, global growth would have to come with just a 20% rise in emissions in the years ahead, she said.
Jacobs wins engineering on Honeywell, Sinochem venture in China
Jacobs Engineering Group will provide engineering and procurement services for the newly-formed joint venture between Honeywell and Sinochem. The joint venture, to be located in Taicang, Jiangsu Province, plans to produce HFC-245fa, a non-ozone-depleting rigid foam blowing agent used in insulation.
Toyo lands engineering design deal for Canada oil sands refinery project
Toyo has been awarded a contract by North West Redwater (NWR) to provide EDS (engineering design specification) work for a heavy oil upgrading and refining complex in Sturgeon County, Alberta. This complex will process bitumen extracted from oil sands producing naphtha, diesel oil and other petroleum products.
PPG launches plan to secure additional TiO2 supply
US-based paints and coatings major PPG Industries said Tuesday it has undertaken a strategic initiative with multiple global suppliers to secure and enhance its supply of titanium dioxide (TiO2), as well as add to the global supply of the raw material. TiO2 prices have soared in recent years amid dwindling supply.
Shell looking at gas-to-liquids projects in US
Royal Dutch Shell is in the early stages of planning projects to turn natural gas into fuels like diesel in the US, of similar scale to its huge project in Qatar. Shell is only interested in large-scale projects similar to the $18 billion Pearl gas-to-liquids plant it has developed in Qatar, the company said.
Sunoco idles key processing units at Pennsylvania refinery, cites weak market
US refiner Sunoco is indefinitely idling the main processing units at its refinery in Marcus Hook, Penn., citing deteriorating refining market conditions. The company said it also intends to increase the capacity utilization rate of its Philadelphia refinery and will continue to operate the refinery as long as market conditions warrant.
Shale gas gives rise to era of energy independence
A boom in shale gas output has lifted US gas supplies to record levels, creating an environment to sustain low prices and offering a new era in energy independence.
NPRA praises US transition to net fuels exporter
A new report that says growing US exports of petroleum fuels may enable the country to become a net exporter of refined petroleum products this year for the first time since 1949 is good news for the US, according to National Petrochemical & Refiners Association (NPRA) president Charles T. Drevna.
- 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
