Economics
Statoil recruits PTTEP for its Alberta oil sands project
Statoil has agreed to sell a 40% interest in its oil sands project in Alberta, Canada, to PTT Exploration and Production (PTTEP) of Thailand.
Aon launches global energy risk engineering unit
Aon Risk Solutions has consolidated its energy risk engineering assets around the world to form a new unit, known as Aon Energy Risk Engineering.
Genesis Energy grabs a 50% interest in Cameron Highway Oil Pipeline
Genesis Energy has executed a definitive agreement to purchase Valero Energy’s indirect 50% equity interest in Cameron Highway Oil Pipeline, a partnership, for $330 million in cash.
Chavez bemoans US regulation and Citgo profitability
The human quote machine and general despot of Venezuela Hugo Chavez is once again in the news, this time for bad mouthing the Venezuelan-owned company known as Citgo.
Petroplus plans to convert Reichstett refinery site to a terminal
Petroplus Holdings AG announced an update on the strategic review of its Reichstett refinery in France that was launched in April to evaluate alternatives for the site.
ConocoPhillips and Sasol North America to reimburse costs for Calcasieu Estuary cleanup
ConocoPhillips and Sasol North America have agreed to a settlement of claims to resolve their liability to the EPA for contamination in the Calcasieu Estuary of Louisiana.
Technip finalizes agreements with MISC and MHB
Technip has finalized its agreements with MISC Berhad and Malaysia Marine and Heavy Engineering Holdings Berhad (MHB), two companies within Malaysia’s national oil corporation, Petroliam Nasional Berhad (Petronas), to establish their long-term collaboration.
Brazil and Norway rank highest in transparent management of oil and gas resources
A new measurement of government public disclosure in managing oil, gas and minerals ranks Brazil and Norway highest among 41 countries for making public detailed information about these key resources, according to the Revenue Watch Institute (RWI) and Transparency International (TI).
GE snaps up Dresser for a cool $3 billion
GE has purchased Dresser, Inc. for $3 billion. The deal includes all of the Dresser businesses, which provide products and services for compression, flow technology, measurement and distribution infrastructure for customers in more than 150 countries.
Oil and gas reserves increased 3% in 2009
The worldwide upstream investment of 224 oil and gas companies decreased 23% to $378 billion in 2009, according to the 2010 Global Upstream Performance Review, released by oil and gas research firm IHS Herold.
- Aster Chemicals declares force majeure at Singapore naphtha cracker 8/29
- Orlen signs 1-yr deal with Equinor for supply of 15% oil it uses 8/29
- Novatek partially resumed processing at Ust-Luga complex 8/29
- Phillips 66 to begin winding down Los Angeles-area refinery next week 8/29
- Update: Mexico's Minatitlan refinery back online, Olmeca still down 8/29
- SIBUR produces test batch of first hexane plant in Russia 8/28
