Europe
German chemical industry raises outlook for sales, producer prices in 2012
For 2012, the group expects prices to rise 2%, up from a May estimate of 1%, and sales to rise 2%, also up from 1%. Domestic demand and orders from the US and Asia should help offset weak European demand.
Shell to buy Norwegian LNG fuel supplier Gasnor
Gasnor operates in Norway’s small-scale LNG sector, supplying LNG as fuel to industrial and marine customers and operating an end-to-end supply chain. Assets include three small-scale production plants and distribution items including two tanker ships, a fleet of trucks and a terminal network.
Gunvor to raise $500mn credit for Belgian refinery crude oil, feedstock
The funds will be used to finance the purchase of crude oil and feedstock for the refinery. Cyprus-based Gunvor, one of the world's largest independent traders of commodities, bought the Antwerp refinery from insolvent Swiss-based refiner Petroplus Holdings AG earlier this year.
Gevo, Beta agree to develop integrated process for cellulosic isobutanol
The deal also anticipates commercialization of the technology upon project success, which could enable renewably-sourced, competitively-priced jet fuel as well as other chemicals and fuels made from isobutanol.
BP dragged into UK bribery probe over contractor
Investigators from the Serious Fraud Office have contacted BP over bribery allegations relating to engineering projects one of its contractors is undertaking in Azerbaijan, the Telegraph reports.
Aramco ships Europe fuel oil to Red Sea, eyes more
Saudi Aramco is shipping fuel oil from Northwest Europe to the Red Sea to meet Saudi Arabia's peak summer demand, taking advantage of arbitrage economics that have been favorable up until recently.
Coryton refinery becomes latest casualty of Europe industry doldrums
The site will live on in radically changed form as a distribution terminal employing no more than 50 permanent staff, a tenth of the current staff of 500 - which doesn't include an equal amount of contractors. A first batch of 180 dismissal notices were handed out in late June, with more to follow.
Lyondell to supply PP technology for Sibur in Russia
A SIBUR affiliate has selected the Spheripol process technology from LyondellBasell for a new 500,000 tpy single-line polypropylene (PP) plant to be built in Tobolsk, Russia. Start-up is scheduled for 2017.
ExxonMobil mulls sale of German Esso gas stations
ExxonMobil is in preliminary talks with various parties, some of whom might be from Russia or eastern Europe, the Bloomberg report cited people as saying. Two of the people said the unit, which includes more than 1,100 gas stations, could fetch more than €1 billion ($1.3 billion) in a sale.
Europe plays increasing role in US gasoline market
The current state of the crude oil and refining industry in the Northern Atlantic basin has led to excess European gasoline production playing a vital role, says one analyst. That additional production could be saving the US East coast from shortages, he explains.
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