Americas
Technip to buy Shaw energy, chemicals business
Shaw is selling the segment to Technip for $300 million in cash, adding that further collaborations between the two companies are possible for Shaw’s core business units. The companies further agreed to work toward developing future business relationships involving Shaw’s core business units.
Shell remains committed to natural gas plan - CEO
Royal Dutch Shell believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, its CEO Peter Voser said on Tuesday. Despite a recent drop in US gas prices, the long-term pricing outlook for natural gas remains strong, he noted.
Willbros wins construction work in Louisiana for Praxair hydrogen pipeline
Willbros Group was awarded a contract by Praxair to construct 52 miles of 12-inch pipeline in Louisiana. Construction on the project is underway and is scheduled to be completed in September.
Georgia Gulf, Segetis to collaborate on bio-based polyvinyl chloride in US
Georgia Gulf has agreed to collaborate with Segetis to offer a new flexible vinyl compound based on Javelin technology bio-plasticizers from Segetis. This is the second collaboration to develop bio-based flexible polyvinyl chloride (PVC) compounds announced in 2012 by Georgia Gulf, the company noted.
Cytec aims to sell coating resins business this year
Cytec Industries has begun a formal sale process for its coating resins business, the US-based specialty materials company said on Monday. Cytec does not intend to give further updates on the sale process until a transaction is announced, which is estimated to occur later in 2012.
Refinery upkeep costs poised to rise, says Tyco
Refinery maintenance will likely become more expensive in the next few years as operators have to make costly changes to comply with new environmental regulations.
Enterprise, Enbridge finish reversal project for US Seaway crude pipeline
Enterprise Products and Enbridge announced that modifications to the Seaway crude oil pipeline allowing it to transport crude oil from Cushing, Oklahoma to the US Gulf Coast have been completed. The first flows of crude oil into the line are expected to begin this weekend.
US oil demand rising in gasoline, down for jet fuel
US gasoline deliveries were up 0.9% in April to 8.8 million bpd, monthly API trade data showed, continuing a positive domestic trend for the segment. However, April jet fuel and residual fuel deliveries declined, leading to a 0.3% drop in overall petroleum demand for the month.
Repsol nixes LNG shipments to Argentina for 2012
Repsol YPF has decided to cancel 10 shipments of liquefied natural gas to Argentina scheduled for 2012 because it says an Argentine public energy company has failed to meet the terms of the contract. Repsol said it reserved the right to take legal action against Enarsa for breach of contract.
Imperial Oil exploring sale of Nova Scotia refinery, may convert to terminal
Imperial Oil will explore selling its 88,000 bpd Dartmouth refinery in Nova Scotia, citing rising global competition and lower demand for refined products. The company, which ExxonMobil holds a majority stake in, said it will also consider conversion to a terminal, as well as other alternatives.
- IHI, Vopak to launch ammonia terminal project in Japan 7/11
- India's BPCL plans to shut Bina refinery unit for 15-day maintenance in August 7/11
- Soaring electric truck sales deal new blow to diesel use in China 7/11
- Russia`s Tatneft launches new hydrocracking unit on TANECO refinery 7/11
- IEA: Global oil market may be tighter than it looks 7/11
- India must boost its petchem output to counter China's dominance, Reliance says 7/11
