Americas
Oil edges up in quiet holiday trade, focus on crude glut
(Reuters) — Oil prices rose slightly on Monday, paring steep losses from last week, but the market remained cautious as increases in US drilling activity have undercut an OPEC-led push to tighten supply.
Motiva says it's poised to embark on growth journey
HOUSTON — Following announcements at the Saudi-US CEO Forum earlier this week, Motiva Enterprises LLC confirms it has embarked on a growth journey to become the safest and most profitable downstream business in the US.
Plains weighs idling oil pipeline due to new competition
NEW YORK (Reuters) — Plains All American LP is considering idling its 1.2-MMbpd Capline pipeline, the nation's largest crude pipeline, as competing lines begin service, according to a bank report on the company's investor presentation this week.
Big drop in US oil stocks finally on the way, traders say
NEW YORK (Reuters) — Oil traders and analysts are expecting large volumes of crude to draw from storage tanks across the United States in coming weeks, in what would be the most tangible sign of an inventory overhang reduction that has punished prices over the last two years.
Tesoro announces expected closing date for Western Refining acquisition
SAN ANTONIO, Texas — Tesoro Corporation announced that the waiting period applicable to its proposed acquisition of Western Refining pursuant to the Hart Scott Rodino (HSR) Act has terminated. This satisfies one of the final conditions to the closing of the pending acquisition. Tesoro expects the closing of the acquisition to occur on June 1, subject to the satisfaction or waiver of the remaining customary conditions to closing.
EIA: Gas prices ahead of Memorial Day higher than 2016, but 2nd lowest since 2009
Gasoline prices heading into Memorial Day weekend average $2.40/gal nationally, up from last year's price of $2.30/gal. Despite the year-over-year increase, 2017 marks the second-lowest price ahead of the Memorial Day weekend since 2009, when the national average price of retail regular gasoline was $2.31/gal.
Britain's Spirax-Sarco to buy thermal tech firm Chromalox for $415 MM
(Reuters) — Britain's Spirax-Sarco Engineering Plc said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for $415 MM on a cash-free, debt-free basis.
Emerson completes acquisition of MYNAH Technologies
AUSTIN, Texas — Emerson announced it has completed the purchase of MYNAH Technologies, a long-time Emerson alliance partner and a provider of dynamic simulation and operator training software.
KBR returns to Malaysia via JV with BIV Builders
HOUSTON — KBR, Inc. announced it has signed a JV agreement with BIV Builders for a standalone, self-sufficient, long-term JV based in Kuala Lumpur, Malaysia. The JV will be known as KBIV.
Venezuela says considering options to repay debts
VIENNA (Reuters) — Venezuela is considering several options to repay its debts, the oil minister said on Thursday, after a deep recession and low crude prices hit output and prompted Caracas to seek funds from China and Russia.
- YPF, Eni and XRG sign joint development agreement advancing 12-MMtpy Argentina LNG project 2/12
- Maire launches new technology to produce PTMEG, the key polymer composing the spandex fiber. 2/12
- Verde Clean Fuels announces suspension of development of Permian Basin gas-to-gasoline project 2/12
- Vietnam's largest refinery to operate at 120%-125% of designed capacity in Q1 2/12
- Indonesia's Medco expansion plans bet on rising energy demand in Southeast Asia 2/12
- Brazil to rebuild ethanol stocks in new harvest after 21% drop in 2025-2026 2/12
