Americas
US shale plays spark Q2 increase in oil, gas deals
Ongoing interest in shale acreage, deals for midstream assets and increased investments from foreign buyers in the US oil and gas industry helped drive US oil and gas mergers and acquisitions (M&A) value to $39 billion in the second quarter of 2011, according to a quarterly report from accounting firm PricewaterhouseCoopers (PwC).
IEA cuts 2011 oil demand outlook on soft economy
The International Energy Agency (IEA) opted Wednesday to lower its 2011 forecast for oil demand growth, citing high energy prices and lower-than-expected economic growth. The agency cut its demand forecast for the year by 60,000 bpd to 89.5 million bpd.
Air Products inks new hydrogen supply agreement with Motiva refinery in Louisiana
Air Products has agreed to a long-term deal with Motiva to supply additional hydrogen for Motiva’s Convent refinery in Louisiana. The hydrogen supply, which has already commenced, is from Air Products' industry-leading Gulf Coast hydrogen pipeline supply network that serves multiple refinery and petrochemical companies in the region, the company said.
Foster Wheeler starts second phase of Colombia refinery modernization
Foster Wheeler has begun the second phase of its existing contract with Ecopetrol S.A. for a refinery modernization project at Barrancabermeja (PMRB) in Colombia.
Eastman completes Sterling Chemicals acquisition
Eastman Chemical has completed its acquisition of Sterling Chemicals, a single-site North American petrochemical producer, for $100 million in cash. This acquisition includes Sterling’s plasticizer and acetic acid manufacturing assets in Texas City, Texas.
Air Products to supply hydrogen for Shell Deer Park refinery in Texas
Air Products announced a long-term agreement with Shell Oil to supply a significant portion of the hydrogen requirements at Shell's refinery in Deer Park, Texas. The hydrogen supply will commence in mid-2013, the company said.
Solazyme, Bunge JV plots Brazil renewable oil plant
US-based renewable oil and bioproducts company Solazyme has entered into a framework agreement with agribusiness firm Bunge for a joint venture focused on the production of triglyceride oils in Brazil. The venture anticipates building a 100,000 tpy renewable oil production facility located at a Bunge owned sugar cane mill in Brazil, it said.
NuStar, EOG to build rail offloading facility at Louisiana crude terminal
NuStar Logistics and EOG Resources have agreed to jointly develop, build and own a 70,000-bpd unit train offloading facility at NuStar’s crude oil terminal in St. James, La. The project will facilitate movement and storage of crude oil production from the Bakken, Eagle Ford and other developing shale plays in the US, the companies said.
US hikes storm forecast as Gulf season nears peak
The US National Oceanic and Atmospheric Administration (NOAA) elevated its forecast on Friday for the 2011 Atlantic hurricane season, raising the number of expected named storms from its preseason outlook and potentially threatening refining and petrochemical operations along the US Gulf coast and eastern seaboard.
SunPower to develop solar panel plant in Mexico
SunPower Corp. plans to build a solar panel manufacturing facility in Mexicali, Mexico, to meet the demand of a growing North American solar market, the firm said on Friday. SunPower plans to lease an existing building, which has up to 320,000 square feet of capacity, it said.
- KBR wins FEED contract for KEPPT’s fertilizer facility in Iraq 7/17
- EIA: U.S. crude stockpiles fall as exports rise; fuel demand drops 7/17
- Uruguay SAF project gains momentum with Velocys Onboard as FT licensor 7/17
- Targray teams up with SABA to streamline SAF procurement 7/17
- Moeve and Zaffra sign Memorandum of Understanding to develop eSAF facilities in Spain 7/17
- India's ONGC considers a ~230,000 bpd refinery in Gujarat state 7/17
