Refining
DCP Midstream to buy, expand Conoco US pipeline
DCP Midstream has agreed to buy the Seaway Products Pipeline Co. from ConocoPhillips for between $750mn and $850mn, creating new natural gas liquids (NGL) transportation capacity from the US Mid-continent to Texas Gulf coast markets.
Petrobras invests $400mn in biofuels through 2014
Petrobras plans to invest $400 million in biofuels over the next four years, the Brazilian oil giant’s head of technology management said on Thursday.
Lubrizol shareholders approve sale to Berkshire
At a special meeting on Thursday, shareholders of specialty chemicals firm Lubrizol overwhelmingly approved the acquisition of the company by Berkshire Hathaway for $135/share in an all-cash transaction.
Crude oil costs rise as OPEC meeting concludes without production increase
OPEC talks broke down on Wednesday as government officials were unable to convince the cartel to raise production rates.
ExxonMobil makes three oil, gas discoveries as Gulf drilling resumes post-moratorium
ExxonMobil announced two major oil discoveries and a gas discovery in the deepwater Gulf of Mexico after drilling the company's first post-moratorium deepwater exploration well.
Capstone receives order for microturbines from Russian oil firm Tatneft
Capstone Turbine Corp. said it received another follow-on order from the oil and gas industry for its microturbines. The new order is for C600 and C800 power packages from Tatneft, one of the largest Russian oil companies.
BP unveils annual energy review, sees China passing US as top consumer
China became the world’s largest energy consumer in 2010, overtaking the US during a year which saw the global economic recovery drive consumption higher and at a rate not seen since the aftermath of the 1973 oil price shocks, BP said in its annual global energy review.
Shell commits to develop new Gulf deepwater field
Shell on Wednesday announced a $2.5 billion investment to develop its major Cardamom oil and gas field in the deep waters of the Gulf of Mexico. The Cardamom project is expected to produce 50,000 bbl/day of oil equivalent (boe) at peak production and more than 140mn boe over its lifetime.
Statoil sells stake in Norway pipeline JV Gassled
Norway’s oil company Statoil ASA will sell the majority of its stake in gas transportation firm Gassled for 17.35 billion Norwegian kroner ($3.2 billion).
IEA says natural gas entering 'golden age', could muscle out renewables
As supply and demand factors increasingly point to a future with natural gas playing a greater role in the global energy mix, the International Energy Agency (IEA) says natural gas may increasingly “muscle out” low-carbon fuels such as renewables and nuclear.
- Vyterra Renewables receives funding to advance its Nova Scotia low-carbon fuel oil project 3/26
- BASF inaugurates €8.7-B Verbund site in Zhanjiang, China 3/26
- Partners sought from construction and engineering for program to decarbonize £1 T/yr global market for low-carbon jet fuel 3/26
- OCI Global completes handover of Beaumont New Ammonia to Woodside 3/26
- Iran war chokes petrochemical supply, sends plastic prices soaring 3/26
- Russia's vast Kirishi oil refinery halts operations after drone attacks 3/26
