Middle East
Shell eyes East Africa LNG, makes Cove Energy bid
Anglo-Dutch oil major Royal Dutch Shell on Wednesday proposed to buy all the shares of UK-listed Cove Energy, marking the company's first foray into Kenya and Mozambique. Shell is one of the world's largest LNG producers with equity sales volumes of 18.83 million tpy of LNG in 2011.
IEA says Europe can handle loss of Iranian oil
The EU could handle a sudden end to imports of Iranian oil because of changes already being made due to the coming ban on Iranian shipments, an IEA official said. But the official also warned that the standoff has the potential to hurt the global economy by pushing oil prices higher.
Greek refiner Motor Oil Hellas no longer buying Iranian crude
Greek refiner Motor Oil Hellas is no longer buying Iranian crude, and has not done so for some time, a person at the company told Dow Jones Newswires Monday. Motor Oil Hellas is one of two major refiners in Greece and is able to process more than 180,000 bpd of oil.
Taiwan considers reducing crude imports from Iran
Taiwan is considering cutting imports of crude oil from Iran in cooperation with US and European efforts to choke off Iran's oil revenue over the nation's nuclear program, a foreign affairs official said Thursday. The US has held talks with several of its Asian partners about the effort to cut off Iran's oil exports.
Flowserve Abahsain JV opens valve manufacturing plant in Saudi Arabia
Flowserve Corp. and Saudi Arabia’s S&A Abahsain Co. have formally inaugurated a new valve manufacturing plant and training center in the Dammam Second Industrial City. The facility is operated by Flowserve Abahsain Flow Control Co.a joint venture of Flowserve and S&A Abahsain.
Aramco, Dow award EPCm deal to Foster Wheeler for Saudi propylene oxide unit
Foster Wheeler has been awarded an engineering, procurement and construction management (EPCm) contract from Saudi Aramco and Dow Chemical for a propylene oxide (PO) unit at Jubail Industrial City in Saudi Arabia. The unit should be completed during the first quarter of 2015.
SABIC, Sinopec in talks with Trinidad to build $5.3bn methanol complex
SABIC and Sinopec have agreed to start negotiations with Trinidad and Tobago to possibly build a $5.3 billion methanol complex in that country. Last month Sabic signed a protocol of cooperation with Sinopec to explore new business opportunities.
Honeywell opens automation training hub in Dubai
Honeywell on Monday announced the opening of a new facility in the United Arab Emirates (UAE) to strengthen customer support in the Middle East for its process solutions and scanning and mobility businesses. The facility will provide closer proximity to customers and prospects in the Middle East,
Halliburton, Petronas form partnership to develop global shale resources
Halliburton and PETRONAS Carigali have signed an agreement for the evaluation and development of global shale resources, the companies said on Friday. They plan to set up a shale technical center in Kuala Lumpur, Malaysia, which is where the deal was signed.
IEA cuts 2012 outlook for global oil demand growth, cites weaker economy
The IEA lowered its estimate for global oil demand growth in 2012 to 800,000 bpd, compared to its previous forecast of 1.1 million bpd amid weaker economic predictions. Global GDP growth is revised down to 3.3% for 2012, from the 4.0% level assumed since September, the agency noted.
- Consortium launches study to create a consolidated hub for recycled plastics 5/22
- Eni strengthens its global LNG strategy with long-term supply agreements in Indonesia 5/22
- Breakthrough shows how electricity could replace heat to turn CO₂ into useful chemicals 5/22
- bp's Whiting Refinery offers revised proposal to union in ongoing talks 5/22
- Plains oil pipeline partly shut down after rupture in East Los Angeles (U.S.), could disrupt supplies to refineries 5/22
- Vitol moves to open Mexico fuel terminal years after bribery scandal 5/22
