Americas
OriginOil receives new order from MBD Energy for algae-to-oil system
OriginOil, the developer of a technology to extract oil from algae, said it recently received an increased order for a large-scale algae extraction system from MBD Energy, a leading solutions provider in the field of industrial CO2 waste management.
American Petroleum Institute CEO disappointed by US shale gas committee findings
American Petroleum Institute (API) chief executive Jack Gerard welcomed an acknowledgement from the US government subcommittee on shale gas of the economic and energy security benefits of natural gas development, but said the specific recommendations were disappointing and confusing.
US business groups urge Obama to halt EPA's reconsideration of ozone regs
The American Petroleum Institute (API), along with more than 170 businesses and business groups that employ American workers, sent a letter to President Obama urging him to stop the Environmental Protection Agency’s (EPA) voluntary reconsideration of new National Ambient Air Quality Standards (NAAQS) for ground-level ozone.
El Paso Corp. to spin off E&P business in 2011
Natural gas company El Paso Corp. said Thursday that it had taken important steps related to the planned spinoff of its E&P business before year-end 2011. On Thursday, El Paso filed its initial Form 10 with the US Securities and Exchange Commission. This filing provides information about the spinoff and provides a detailed look at all aspects of the E&P business.
W&T closes deal for Shell offshore field in US Gulf, nearby gas processing plant
W&T closes deal for US Shell offshore fields, gas processing plant W&T Offshore has closed its acquisition of Shell’s 64.3% interest in the Fairway Field along with a 64.3% interest in the associated Yellowhammer gas processing plant, with an effective date of September 1, 2010.
US shale plays spark Q2 increase in oil, gas deals
Ongoing interest in shale acreage, deals for midstream assets and increased investments from foreign buyers in the US oil and gas industry helped drive US oil and gas mergers and acquisitions (M&A) value to $39 billion in the second quarter of 2011, according to a quarterly report from accounting firm PricewaterhouseCoopers (PwC).
IEA cuts 2011 oil demand outlook on soft economy
The International Energy Agency (IEA) opted Wednesday to lower its 2011 forecast for oil demand growth, citing high energy prices and lower-than-expected economic growth. The agency cut its demand forecast for the year by 60,000 bpd to 89.5 million bpd.
Air Products inks new hydrogen supply agreement with Motiva refinery in Louisiana
Air Products has agreed to a long-term deal with Motiva to supply additional hydrogen for Motiva’s Convent refinery in Louisiana. The hydrogen supply, which has already commenced, is from Air Products' industry-leading Gulf Coast hydrogen pipeline supply network that serves multiple refinery and petrochemical companies in the region, the company said.
Foster Wheeler starts second phase of Colombia refinery modernization
Foster Wheeler has begun the second phase of its existing contract with Ecopetrol S.A. for a refinery modernization project at Barrancabermeja (PMRB) in Colombia.
Eastman completes Sterling Chemicals acquisition
Eastman Chemical has completed its acquisition of Sterling Chemicals, a single-site North American petrochemical producer, for $100 million in cash. This acquisition includes Sterling’s plasticizer and acetic acid manufacturing assets in Texas City, Texas.
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