Americas
Dresser-Rand buys US parts supplier Synchrony
Rotating equipment supplier Dresser-Rand has agreed to acquire technology development firm Synchrony, with the deal expected to close in January 2012. Synchrony's portfolio includes active magnetic bearings (AMB), high speed motors and generators, and power electronics for rotating machinery.
Plains converting Oklahoma LPG pipeline to crude
Plains All American Pipeline announced Thursday that it is converting an existing Oklahoma liquefied petroleum gas (LPG) pipeline into crude oil service. The pipeline will provide an initial crude oil throughput capacity of 12,000 bpd by January 2012 and will be expanded to 25,000 bpd by July 2012.
Chevron to spend record $32.7 billion on capital projects in 2012
Chevron said it expects to spend a record $32.7 billion on capital projects in 2012 as it continues to invest in massive oil and gas projects worldwide. Rivals ConocoPhillips and Marathon Oil recently announced double-digit capital budget increases for next year, showing major oil companies are confident about the sustainability of high oil prices.
Halliburton defends itself against BP oil spill claims
Halliburton responded Wednesday to recent court filings by BP, which accused it of unfavorable results from tests on cement used to plug the leaking well in the Deepwater Horizon disaster.
US regulators issue more spill-related fines to BP
US regulators have issued additional violations to BP for its role in the Deepwater Horizon oil spill, raising the level of fines that the company is likely to pay. The violations lay the foundation for civil penalties that are likely to be imposed by the federal government.
Marathon Oil boosting capital spending by $1 billion
Marathon Oil Corp. said Wednesday that it will increase its capital spending by $1 billion in 2012 as it moves to develop acreage in the Eagle Ford shale of South Texas. The firm plans to spend $4.82 billion on capital projects in 2012, up from its plan to spend $3.89 billion in 2011.
BP accuses Halliburton of destroying test results on Deepwater Horizon cement
BP accused oilfield-services giant Halliburton of destroying unfavorable results from tests on cement used to plug the leaking well in the Deepwater Horizon disaster. In a motion filed with a US court in Louisiana, BP said that Halliburton's own tests after the incident showed the cement slurry was unstable and claimed the company destroyed the results of the test and misplaced key data.
IEA says nations must act independently on climate
With little hope for significant progress on a major international climate agreement at this week's climate negotiations, nations must take it upon themselves to reduce emissions and mitigate climate change, the head of the IEA said Tuesday. To limit rising temperatures to an average of 2 degrees Celsius, global growth would have to come with just a 20% rise in emissions in the years ahead, she said.
Jacobs wins engineering on Honeywell, Sinochem venture in China
Jacobs Engineering Group will provide engineering and procurement services for the newly-formed joint venture between Honeywell and Sinochem. The joint venture, to be located in Taicang, Jiangsu Province, plans to produce HFC-245fa, a non-ozone-depleting rigid foam blowing agent used in insulation.
Toyo lands engineering design deal for Canada oil sands refinery project
Toyo has been awarded a contract by North West Redwater (NWR) to provide EDS (engineering design specification) work for a heavy oil upgrading and refining complex in Sturgeon County, Alberta. This complex will process bitumen extracted from oil sands producing naphtha, diesel oil and other petroleum products.
- Argentina raises biofuel prices for domestic market 7/14
- Technip Energies' develops low-emission furnace design to reduce the carbon footprint of ethylene production 7/14
- Biofuel demand to soak up more than half of U.S. soyoil production next year, USDA says 7/14
- Russia's June seaborne oil product exports down 3.4% m/m 7/14
- Serbia seeks fifth U.S. sanctions waiver for Russian-owned oil firm NIS 7/14
- EIA: U.S. hydrocarbon production supported by export growth in long-term projections 7/14
