Americas
Tesoro announces expected closing date for Western Refining acquisition
SAN ANTONIO, Texas — Tesoro Corporation announced that the waiting period applicable to its proposed acquisition of Western Refining pursuant to the Hart Scott Rodino (HSR) Act has terminated. This satisfies one of the final conditions to the closing of the pending acquisition. Tesoro expects the closing of the acquisition to occur on June 1, subject to the satisfaction or waiver of the remaining customary conditions to closing.
EIA: Gas prices ahead of Memorial Day higher than 2016, but 2nd lowest since 2009
Gasoline prices heading into Memorial Day weekend average $2.40/gal nationally, up from last year's price of $2.30/gal. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of retail regular gasoline was $2.31/gal.
Britain's Spirax-Sarco to buy thermal tech firm Chromalox for $415 MM
(Reuters) — Britain's Spirax-Sarco Engineering Plc said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for $415 MM on a cash-free, debt-free basis.
Emerson completes acquisition of MYNAH Technologies
AUSTIN, Texas — Emerson announced it has completed the purchase of MYNAH Technologies, a long-time Emerson alliance partner and a provider of dynamic simulation and operator training software.
KBR returns to Malaysia via JV with BIV Builders
HOUSTON — KBR, Inc. announced it has signed a JV agreement with BIV Builders for a standalone, self-sufficient, long-term JV based in Kuala Lumpur, Malaysia. The JV will be known as KBIV.
Venezuela says considering options to repay debts
VIENNA (Reuters) — Venezuela is considering several options to repay its debts, the oil minister said on Thursday, after a deep recession and low crude prices hit output and prompted Caracas to seek funds from China and Russia.
US crude inventories slump amid near record refining
(Reuters) — US crude oil inventories fell for the seventh straight week as refiners processed a near record amount of crude last week, the Energy Information Administration said on Wednesday, even as gasoline and distillate stockpiles also dipped.
ACC: New report shows potential for major Appalachian petchem industry
WASHINGTON — An economic report released by the American Chemistry Council (ACC) shows that the Appalachian region could become a second center of US petrochemical and plastic resin manufacturing, similar to the Gulf Coast.
Venezuela oil executive arrested in corruption probe
CARACAS (Reuters) — Venezuela has arrested the manager of the Petropiar heavy crude upgrader, owned by state oil company PDVSA and US major Chevron Corp, for alleged "irregularities" in contracts awarded in the oil-rich Orinoco Belt.
Measurement, Control & Automation Association introduces new brand, website
POQUOSON, VA — Parabolic flow curves were the inspiration for the new logo for the Measurement, Control & Automation Association, revealed at the MCAA Industry Forum last month in Atlanta. A completely redesigned website, TheMCAA.org, was also rolled out to the more than 240 attendees at the meeting.
- AVTL to develop ammonia terminal in Pipavav, India 6/20
- Chevron seeks buyers for 50% stake in Singapore refinery 6/20
- Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict 6/20
- Mexican authorities discover clandestine mini-refinery in crackdown of illegal hydrocarbon trade 6/20
- Italy's Eni eyes new unit to manage oil refineries 6/20
- Inatech's Techoil implemented by Flint Hills Resources for a modern, integrated future 6/20
