Europe
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.
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.
Iran says EU ban on crude imports to hurt Europe
Iran doesn't expect Europe to follow through on its threat to ban imports of oil from the Islamic republic because it would hurt the euro zone's energy security.
Shale gas gives rise to era of energy independence
A boom in shale gas output has lifted US gas supplies to record levels, creating an environment to sustain low prices and offering a new era in energy independence.
CB&I lands engineering pact for new petrochemical complex in Russia
CB&I has been awarded a contract by OJSC Rosneft for the license and basic engineering of a naphtha steam cracking unit and a butadiene and benzene extraction unit for a new petrochemical complex in Russia. The steam cracking unit, which will be the world’s largest, is designed to produce more than 1.4 million tpy of ethylene and more than 600,000 tpy of propylene.
Linde, Statoil say joint Arctic LNG plant exceeding performance expectations
The world's northernmost natural gas liquefaction plant - Hammerfest LNG on the island Melkøya, 800 km north of the Arctic Circle near Hammerfest in Norway - passed its performance test in August, exceeding the expectations. The plant is a unique technology project of the European natural gas and EPC industry.
Chevron Phillips Chemical closes deal for Neste Oil polyalphaolefin plant in Belgium
Chevron Phillips Chemical has successfully completed the acquisition of a polyalphaolefin (PAO) plant located in Beringen, Belgium from Neste Oil. The deal was first announced in September.
EU imposes new Iran sanctions, but no oil embargo
European Union foreign ministers agreed Thursday to impose new sanctions on additional Iranian entities, but a French proposal for a blanket embargo on Iranian oil exports met significant resistance. EU foreign policy chief Catherine Ashton said an oil embargo was still "being debated" and diplomats said some restrictions on Iran oil imports were likely to be imposed in the coming months.
UOP forms alliance with Netherlands’ Twister for natural gas treatment technology
Honeywell’s UOP said Wednesday that it plans to expand its portfolio of natural gas treatment technologies through an exclusive marketing alliance with the Netherlands-based Twister B.V. UOP has also acquired a minority position in Twister B.V., the company said.
Norway agency sees "very serious shortcomings" in BP safety
BP’s efforts to monitor and respond to sudden pollution releases such as oil spills in the Norwegian Sea suffer from "very serious shortcomings" that demand immediate improvement, Norwegian regulators said. The report is the latest indication of health and safety issues at BP, which was plagued by a massive oil spill in the US Gulf of Mexico in 2010 and by numerous other accidents in recent years.
- Petrobras selects Honeywell's ethanol-to-jet technology for large-scale SAF plant 4/14
- Technip Energies awarded two FEED contracts by SOGARA for refinery complex in Gabon 4/14
- SUBLIME Energie inaugurates world's first system capable of liquefying biogas into a renewable fuel 4/14
- Petrobras in talks with Mubadala to buy back Mataripe refinery 4/14
- bp's new CEO to simplify company structure into upstream, downstream units 4/14
- Vitol to invest $130 MM to boost South African storage capacity in Durban 4/14
