Asia/Pacific
Nuclear disaster will shift $200 billion investment to fossil and renewables
In the next five years over $3 trillion will be invested in dynamic segments of the power, energy and water industries. However, forecasts regarding the division of this investment made just months ago are now revised to reflect lower investment in new nuclear power plants and higher investment in alternatives.
China approves Kuwaiti oil refinery joint project
Beijing officials have approved a bid by Kuwait Petroleum Corp. (KPC) to build an oil refinery in cooperation with China Petroleum and Chemical (Sinopec).
Shaw issues statement on events in Japan
"On behalf of all Shaw employees around the world, I give our deepest sympathy to the people of Japan. This is an extraordinary tragedy, and we can only imagine how painful and challenging this time is for everyone in the country," said J.M. Bernhard Jr., Shaw's chairman, president and chief executive officer.
Update on dire refining situation in Japan
The 8.9 magnitude earthquake that struck Japan on March 11th has caused considerable interruption to oil refinery operations in the country. Hydrocarbon Processing’s Boxscore Database has complied data indicating that with a total of 28 oil refineries, Japan is the second largest refining country after China in the Asia-Pacific region.
Berkshire Hathaway to acquire Lubrizol
Berkshire Hathaway Inc. and The Lubrizol Corp. announced on March 14 a definitive agreement for Berkshire Hathaway to acquire 100% of outstanding Lubrizol shares for $135 per share in an all-cash transaction.
Japan's refining industry partially closed
Chaos continues as bleak news from Japan streams in from devastated areas
Refinery margins may increase on heels of disaster
Profits from gasoil production in Asia may surged to the highest in 2 ½ years, and fuel oil’s loss narrowed the most in a month after Japan’s biggest earthquake knocked out power plants and refineries, according to Bloomberg online article
Scott Health & Safety is now Scott Safety
Scott Health & Safety, a global leader in innovative personal protective equipment and safety devices, today unveiled its new global brand identity and will immediately begin operating under the name Scott Safety.
Foster Wheeler aiding with design of waste plastics to liquid fuels plant in Ireland
Foster Wheeler AG announced today that its Global Engineering and Construction Group has been awarded a contract by Cynar Plc to provide basic process engineering design services for a 6,000 tpy plant to convert non-recyclable waste plastics into liquid fuels, primarily diesel.
Monster quake wreaks havoc on Japan’s refining industry
An 8.9-magintude earthquake caused catastrophic damage to Japan’s northern Pacific coast on March 10.
- 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
- Mitsubishi Chemical Group invests in Licella Holdings, oil conversion technology using supercritical water 7/18
- BASF and Equinor sign 10-yr natural gas supply agreement 7/18
- Oil prices rise after new EU sanctions on Russia 7/18
