Americas
BP upgrades dividend as Gulf oil spill trial looms
BP raised its dividend on the strength of improved earnings, but reiterated that it would only settle upcoming litigation related to the 2010 Gulf oil spill if certain minimum conditions are met. CEO Bob Dudley said the company's "bias has always been towards settlement, but only at a fair and reasonable price."
Magellan Midstream CEO: El Paso-Houston pipeline not fully committed
Magellan Midstream plans to begin by 2013 its project to ship oil from increasingly productive south Texas fields to the refining belt along the US Gulf Coast despite lacking enough shipper interest to fill the line. Last year's WTI-Brent crude price disparity helped spark multiple projects to bring Cushing crude to the Gulf.
US chem council unveils energy advocacy campaign
The American Chemistry Council (ACC) launched a new energy advocacy and awareness campaign, From Chemistry to Energy. Americans agree that a national energy strategy is needed, the ACC said.
US shale boom drives oilfield chem demand - study
The oilfield specialty chemicals market grew to nearly $16 billion in 2010, driven in large part by the rapid expansion of shale oil and gas drilling and production in North America, according to a new study. World demand for these chemicals is expected to grow at an average rate of 3.5% during the next five years.
Rockwood to build $140mn lithium plant in Chile
Rockwood will invest $140 million in a new lithium carbonate production plant in Chile. Under the new investment program, Rockwood will build a 20,000 tpy lithium carbonate plant at the sight at LeNegra, near the port of Antofagasta in northern Chile, the company said.
Sunoco to swap CEOs amid transition to logistics
Sunoco’s Lynn Elsenhans will step down as CEO and be replaced by Brian MacDonald in March, as the US-based company continues its exit from the manufacturing industry and transition to a logistics and retail focus. MacDonald, 46, joined Sunoco in 2009 as senior vice president and chief financial officer.
CB&I inks Houston Ship Channel storage tank deal
CB&I said Friday it awarded a $60 million, by BOSTCO for the engineering, procurement, fabrication and construction of storage tanks for its grassroots black oil storage terminal on the Houston Ship Channel.
Petrobras mulls LNG regasification, fertilizer plants in Rio Grande do Sul
Brazilian state-run oil company Petrobras said Friday that it had signed a letter of intent to study the feasibility of building fertilizer and liquefied-natural-gas, or LNG, regasification plants in Rio Grande do Sul state. The letter was signed by Petrobras, Samsung's machinery and ships division and Hyundai's bulk-carrier division.
ExxonMobil's natural gas emphasis may hurt small US producers
ExxonMobil’s decision to leave US natural gas output untouched despite low commodity prices may push smaller producers out of the business, force industry consolidation and make Exxon an even more powerful force. The company said drilling for natural gas in some areas is still profitable, even at current prices.
Shell looking at ways to improve US gas profits
The company says it may seek land for potential liquefaction and export terminals. After heavy investment in US shale assets, low gas prices are driving up project costs.
- Envision Energy powers world's first green marine ammonia bunkering 7/25
- New catalyst breakthrough could make clean ammonia easier to produce 7/25
- U.S. Gulf refiners seek Middle East, S. American oil to offset Venezuela, Mexico losses 7/25
- CEO of Russia-backed Indian refiner Nayara resigns after EU sanctions 7/25
- PetroChina makes FID for new northeast refinery complex 7/25
- Valero Energy beats Q2 profit estimates as refining margins improve 7/24
