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ConocoPhillips to acquire Marathon Oil Corporation for $22.5 B
ConocoPhillips and Marathon Oil Corporation announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 B.
bp, Shell agree to sell their shares in South Africa's SAPREF refinery
bp Southern Africa and Shell Downstream South Africa have reached an agreement for the sale of their respective 50% ownership assets located at the SAPREF Refinery Precinct to the South African state-owned entity, Central Energy Fund SOC Ltd.
TPC Group fined $30 MM over 2019 Texas (U.S.) blasts that caused evacuations
TPC Group was fined more than $30 MM over blasts at its Port Neches petrochemical plant in Texas (U.S.) that prompted thousands of people to be evacuated in 2019.
Shell shareholders reject investor climate resolution
Shell shareholders overwhelmingly rejected a climate resolution filed by an activist group following a meeting punctuated by protests.
Malaysia to cut diesel subsidies, saving $852 MM/yr
Malaysia will begin cutting fuel subsidies to bolster its fiscal position starting with diesel, a move that will save about 4 $852 MM/yr.
Golden Pass LNG in discussions with contractor, may delay startup
Golden Pass LNG, a JV between QatarEnergy and Exxon Mobil, said it was in ongoing talks with a contractor that could have near-term impacts on activity at its site.
Shell to exit South Africa's downstream businesses
Shell will divest its majority shareholding from a local South African downstream unit after a comprehensive review of its businesses across all regions.
ADNOC terminates talks to buy stake in Brazil's Braskem
Brazilian petrochemical producer Braskem said that Abu Dhabi oil company ADNOC has decided to terminate talks to buy a stake held by conglomerate Novonor in the firm.
Editorial Comment: Maintenance and inspection pathways/technologies to optimize unit reliability
Unit uptime is one of the most important aspects in refining and petrochemical plant operations. Work stoppages due to any number of causes can be detrimental to profitability; therefore, it is imperative to utilize best practices, technologies, techniques and know-how to ensure processing units operate efficiently and safely.
UAE's ADNOC recently eyed bp as takeover target, sources say
The United Arab Emirates' state-owned oil company recently considered buying Britain's bp but the deliberations did not progress beyond preliminary discussions.
- MOL Group, KazMunayGas partner on exploring petrochemical production 11/21
- Solvay uses waste wood to power soda ash and bicarbonate plant in Germany 11/21
- Syensqo expands U.S. production capacity for advanced polymers 11/21
- Container shippers hedging green transition with dual-fuel vessel orders 11/21
- Vietnam's Binh Son refinery says 2024 output seen at 6.6 MM tonnes 11/21
- Japan's Cosmo Oil restarts 86,000-bpd Yokkaichi CDU after maintenance 11/21
