Americas
CB&I awarded oil sands expansion work in Canada
CB&I has won a contract, valued in excess of $750 million, by Imperial Oil Resources for work on its Kearl expansion project in Alberta, Canada. Work scope includes the engineering, procurement and module assembly and construction of a second bitumen extraction plant.
BP unveils global energy outlook through 2030, boosts demand estimate
Global energy demand will continue to grow over the next 20 years, albeit at a slowing annual rate, fueled by economic and population growth in non-OECD countries, BP said in its Energy Outlook 2030 report. The demand projection is up 1.2% from the year-earlier estimate.
Obama rejects TransCanada pipeline Keystone XL
The Obama administration on Wednesday formally rejected TransCanada’s proposed Keystone XL oil pipeline expansion. However, TransCanada and other companies will be allowed to reapply with an alternate route going through Nebraska, where an important regional aquifer is located.
TransCanada will reapply for Keystone XL permit
TransCanada said late Wednesday that it had received the US Department of State's decision that the Presidential Permit for its proposed Keystone XL pipeline has been denied. However, the company will reapply for a permit and hopes to start up pipeline service as soon as 2014.
Sunoco completes spinoff of SunCoke Energy unit
US-based transportation fuels firm Sunoco completed the spinoff of its metallurgical coke manufacturing business SunCoke Energy. The planned separation was first announced in January 2011.
Georgia Gulf rejects $1bn unsolicited takeover bid from Westlake Chemical
The board of directors for US chemicals firm Georgia Gulf rejected Westlake Chemical’s unsolicited proposal to acquire the company for a $30/share bid, valued by analysts at just over $1 billion. Georgia Gulf also modified its shareholder rights plan in hopes of thwarting the bid.
Oil India plans to buy up to $200mn in US, Australia shale gas assets
State-run Oil India plans to buy shale gas assets worth up to $200 million and is scouting for potential acquisitions in the US and Australia as it seeks to gain expertise in the field ahead of India's plans to auction blocks in the country, a senior executive said Monday. India is seeking to tap into its shale gas resources to meet rising gas demand from power plants and factories.
Westlake bids for US chemicals firm Georgia Gulf
Westlake Chemical has submitted an unsolicited proposal to US-based chemicals firm Georgia Gulf to acquire all of the outstanding shares of Georgia Gulf for $30/share in cash. Thus far, Georgia Gulf’s management “has been unwilling to engage in substantive discussions", the company said.
Origin Oil partners with US DoE on conversion of algae into renewable crude
Renewables firm OriginOil plans to co-develop an integrated system with the US Department of Energy's Idaho National Laboratory (INL) for direct conversion of raw algae into a renewable crude oil that can be used by existing petroleum refineries.
EU remains uncertain on timing of Iran oil embargo
A European Union embargo on Iranian oil could be enacted after a six-month grace period under one of the options being considered, but there is still no consensus on the matter. EU diplomats familiar with the discussions said Friday that while six months is one of the possible options, there is no convergence yet.
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