Asia/Pacific
Rare earths sales likely to triple by 2015 - study
World demand for rare earths is forecast to expand by 7.1%/year to 180,000 metric tons by 2015, according to a new study from US industry market research firm The Freedonia Group. In dollar terms, sales are expected to more than triple from $3.0 billion in 2010 to $9.2 billion in 2015.
QSolar doubles photovoltaic panel output in China
QSolar Ltd. has added a second production line for solar photovoltaic (PV) panels in its manufacturing facility in Shanghai, China. The addition of the second line doubles the production capacity from the 20MW/year (about $30 million/year) to 40MW/year (about $60 million/year).
Corning to expand China clean air products plant
The board of directors for glass maker Corning approved a capital expenditure plan of $170 million to further increase capacity at its clean air products plant in Shanghai, China.
CB&I wins $500mn LNG tank deal in Asia Pacific
CB&I has been awarded a contract in excess of $500 million for the engineering, fabrication and construction of two 160,000 cubic meter LNG storage tanks, as well as additional work for a confidential LNG liquefaction project in the Asia Pacific region.
US shale wave weakens petroleum market share for Russia, Iran, Venezuela - study
Rising US natural gas production from shale formations has already played a critical role in weakening Russia’s ability to wield an "energy weapon" over its European customers, and this trend will accelerate in the coming decades, according to a new study from Rice University’s Baker Institute.
China's CNOOC to buy Canadian oil sands firm Opti
Chinese oil giant CNOOC has agreed to acquire Canadian oil sands producer Opti Canada for about $2.1 billion. The transaction is expected to be completed in the fourth quarter of 2011.
Dow Chemical, Mitsui form biopolymers JV in Brazil
US-based Dow Chemical and Japan-based Mitsui & Co. have formed a new joint venture aimed at providing sustainable product solutions to the global high-performance flexible packaging, hygiene and medical markets. This represents the world’s largest biopolymers play and is Dow’s largest investment in Brazil, a country in which Dow has operated successfully for more than 50 years, officials said.
High electronics demand prompts Air Products to build Korea nitrogen plant, expand pipeline
Air Products will raise production of gaseous nitrogen and expand its nitrogen pipeline in the Gumi National Industrial Complex in Korea’s North Gyeongsang Province to serve increasing demand from electronics customers, the US-based industrial gases firm said on Monday.
CB&I to work on LNG trains at Chevron Australia Gorgon project
Chevron Australia has awarded CB&I a contract for the mechanical, electrical and instrumentation work on the Gorgon project on Barrow Island, Western Australia. The contract has an estimated value of $2.3 billion and is scheduled to be completed in 2015.
ConocoPhillips to spin off downstream business
ConocoPhillips’ board of directors has approved the separation of the company’s Refining & Marketing and Exploration & Production businesses into two stand-alone, publicly traded corporations via a tax-free spin of the refining and marketing business to shareholders.
- U.S. labor board judge rules Exxon's Texas refinery union lockout was legal 11/28
- U.S. crude stocks fall, gasoline and distillate inventories rise 11/28
- Maersk could use 15%–20% alternative fuels for its fleet in 2030 11/28
- Germany's BSW pushes to restore Russian oil to Schwedt refinery, seeks regional legitimacy 11/28
- Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs 11/28
- Singapore distillates stocks tick up for fifth week 11/28
