Americas
Shale, foreign investment spark 2011 growth in US oil, gas M&A - report
The total value of US oil and gas mergers and acquisitions (M&A) increased significantly in 2011 due to continued investment in shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry. Average deal size also increased in 2011.
Technip wins flexible pipe supply deal for Petrobras
France-based Technip was awarded a 5-year frame agreement contract from Brazil’s Petrobras for the supply of around 1,400 kilometers of flexible pipes. Supply starts in 2013 and orders are guaranteed for at least 50% of the total value, which is currently estimated to be worth around $2.1 billion.
Independents nab control of US refining industry
Independent refiners appear in the driver's seat in the US as integrated oil companies increasingly shed refining assets.
Methanex to relocate Chile methanol plant to US
The company picked Jacobs for engineering services on the project, which it hopes to start up at the new site in 2014.
Canada JV plans cellulosic ethanol plant in Québec
A waste-to-biofuels joint venture between Enerkem and GreenField Ethanol plans to build a commercial-scale plant in Varennes, Québec, using Enerkem's proprietary technology to convert non-recyclable municipal solid waste into biofuels. Officials did not disclose a start-up date for the project.
EIA raises most US price forecasts for crude, petroleum products
The US government on Tuesday raised its predicted prices for most crude oil and petroleum products in the latest edition of its monthly energy forecast. With crude prices serving as the fuel feedstock for petroleum products, forecasts for gasoline and diesel were also up as well.
Global automation groups form single solution for device integration
The five major automation foundations have developed a single common solution for field device integration (FDI). FDI Cooperation’s mandate is to develop a single technology for the management of information that comes from all intelligent devices throughout all areas of the plant.
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.
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