Asia/Pacific
Cosmo Oil to close Sakaide refinery in Japan amid falling local demand
The Ministry of Economy, Trade and Industry set rules in July 2010 requiring refiners to raise residual cracking capacity to a designated percentage of crude refining capacity, as calculated by a formula, by March 2014. By closing the refinery, Cosmo expects to save Y10 billion a year in costs.
Protesters occupy Gazprom Arctic oil platform
UPDATE: Fifteen hours after boarding Gazprom's Arctic oil platform in the Pechora Sea, six Greenpeace International protesters have left the platform. Gazprom officials said in a statement that normal operations continue on the platform and were not interrupted by the protest.
Shell worried by rising Australia LNG project costs
Cost pressures are building as leading energy companies mull whether to export LNG to Asia from North America and East Africa, potentially increasing competition. Shell has already committed almost $30 billion to Australian gas-export projects being built over the next five years.
PetroChina achieves on-spec LNG at Ansai project
The successful industrial application of the double mixed refrigerant process, independently developed by China Huanqiu Contracting & Engineering, is the first of its kind regarding large-scale gas liquefaction.
Honeywell develops fuel-saving flight management software for airliners
Some estimates place potential benefits at as much as 3% in savings on reduced fuel use. Others project as much as $200,000 in annual savings per plane while cruising long oceanic routes. United Continental Holdings is running demonstration flights to verify such estimates.
Chemtex, Black & Veatch win engineering deal for large China LNG project
Expected to be completed in late 2013, the 500,000 NM³/day plant will be the largest of its kind in northeast China. It will be delivered by the Chemtex / Black & Veatch team using a complete lump sum engineering, procurement and construction package, officials said. Financial terms were not disclosed.
BASF joins collaboration to develop bio-acrylic acid
BASF, Cargill and Novozymes recently signed an agreement to develop bio-based technologies to produce acrylic acid from renewable feedstocks. The annual global market volume of acrylic acid is around 4.5 million tons, with a value of $11 billion at the end of 2011.
Reliance in talks to buy Malaysia PTA plant from BP
Executives from Reliance Industries and BP have held talks in Hong Kong about BP's purified terephthalic acid (PTA) plant in Malaysia, which has an annual capacity of around 610,000 tons, the Economic Times newspaper said, citing an unidentified investment banker. Financial terms were not yet known.
Materia extends global catalysts distribution pact with Sigma-Aldrich
Materia’s olefin metathesis catalyst technology enables chemical compounds to be synthesized with greater efficiency, under less stringent reaction conditions, and with reduced byproducts and hazardous waste, according to the company. Financial details were not disclosed.
Formosa shuts Taiwan styrene plant following fire
The facility, part of Formosa Chemicals' flagship Mailiao petrochemical complex in Yunlin county, produces intermediate petrochemicals for other units under the Formosa Group and for other small local customers. The fire the fire was extinguished within around half an hour after it started.
- UPM unlocks new bio-based markets as Leuna biorefinery produces its first commercial product 12/19
- Stamicarbon awarded technology licensing contract for new urea plant in Eastern China 12/19
- Ford takes $19.5-B writedown on EV business 12/19
- Babcock & Wilcox awarded $40-MM contract for advanced wet gas scrubbing technology at Canadian petroleum refinery 12/19
- Aarti Industries secures methanol and toluene feedstock supply through multiple long-term contracts 12/19
- bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit 12/19
