Americas
Chevron offers $149 million to settle civil lawsuits over Brazil oil spill
The deal would settle two civil lawsuits seeking more than $20 billion in damages, although a criminal case involving Chevron and others will continue, the prosecutor's office said. The deal can be approved if regulators confirm that the spill did not cause any environmental damage.
Air Liquide starts up new Texas nitrogen liquefier
The liquefier, the second of two now in operation at the Cleburne facility, has recently begun commercial production. The increased capacity will enable Air Liquide to increase its supply of liquid nitrogen to customers in a range of industries, including electronics, oil and gas, and chemicals.
Akzo Nobel sells North American paints unit to PPG
U.S. Deco, as the Akzo Nobel unit is known, was hit hard by the slump in the US construction and housing market, struggling to compete with bigger US rivals, such as PPG and Cleveland-based Sherwin-Williams. Akzo Nobel originally acquired the business as part of its 2008 acquisition of UK chemicals group ICI.
PetroChina joins Encana in Canada gas, liquids play
Encana said said it reached a deal with Phoenix Duvernay Gas, a wholly owned subsidiary of PetroChina, to jointly develop Encana's Duvernay natural-gas-and-liquids play in west-central Alberta. The latest deal is one of four major Chinese energy investments in Canada this year.
US shale gas to sustain chemical industry despite slow manufacturing – ACC
Though rising uncertainty over the fiscal cliff, debt ceiling and tax reform have hindered business confidence, the most important domestic energy development in the last 50 years is poised to reshape American manufacturing, with access to vast shale supplies creating a competitive advantage.
Shell to collaborate in FLNG with Technip, Samsung
The agreement between the firms builds on the existing relationship, formed in 2009, to ensure the companies can capitalize on insights gleaned from the design and construction of Shell's Prelude FLNG facility in Australia and expand their technology offerings to the global energy market.
Delta Air to lose money on Trainer refinery in Q4, but future savings expected
The airline attributes the loss during the quarter to Superstorm Sandy, which battered the US East Coast in September. The storm hit just after Delta restarted its 175,000 bpd refinery in Pennsylvania after spending the summer on maintenance work to maximize jet-fuel production.
US ethylene industry to expand 35% by 2017
The ongoing shale gas revolution is boosting prospects for the US ethylene sector, which could raise its capacity by more than a third by 2017, according to a new report. Strong ethane production has helped to lower prices and made the US petrochemicals industry more competitive.
ExxonMobil sees North America becoming net oil, gas exporter by 2025
The closely watched annual forecast of energy trends, set to be released Tuesday, concludes the growth of US and Canadian oil and gas production has staying power and could lead to more international shipments of oil and gas, said Exxon's vice president of corporate strategic planning, who led the study.
EIA lowers 2012 forecast for US crude oil prices
Spot prices for West Texas Intermediate, the US benchmark, will average $88.51/bbl in the fourth quarter, according to the December edition of the US Energy Department's Short-Term Energy Outlook. That's down from the $89.50/bbl that was predicted in November's report.
- Europe's chemical industry seeks a lifeboat to stay in business 7/21
- BlackRock-led group set to invest in $10 billion Aramco Jafurah infrastructure deal 7/21
- Yara announces possible new ammonia projects in the U.S. 7/21
- U.S. firms to develop Syria energy masterplan after Trump lifts sanctions 7/18
- Russian seaborne diesel exports for July 1–15 fall 6% month-on-month 7/18
- INEOS invests £30 MM to slash emissions at Hull site by 75% 7/18
