Asia/Pacific
OPEC says Asian growth offsets low OECD demand
The fundamental forces driving the world oil market were broadly stable in February, due to the familiar pattern of consumption growth in Asia offsetting weaker demand in the West, the Organization of Petroleum Exporting Countries said Friday. Recent data hasn't been encouraging, it said.
Metso buys South Korea globe valve firm Valstone
Metso has acquired South Korean globe valve technology and service company Valstone Control, officials confirmed on Thursday. Valstone has an established customer base in Korean engineering, procurement and construction (EPC) companies and in the domestic South Korean petrochemical industry.
ExxonMobil to spend $185bn through 2016 to grow new energy sources
US-based oil and gas major ExxonMobil plans to invest approximately $185 billion over the next five years to develop new supplies of energy to meet expected growth in demand, CEO Rex W. Tillerson said. A total of 21 major oil and gas projects will begin production between 2012 and 2014.
Dow Chemical picks Fluor as global EPC contractor for capital projects
Fluor announced Thursday that it and Dow Chemical signed a strategic global engineering, procurement, construction (EPC) and construction management agreement in support of Dow’s global capital projects program ranging across all products. The initial deal is for three years with an extension option.
GE, Chesapeake to collaborate on US natural gas fueling infrastructure
General Electric (GE) and natural gas producer Chesapeake Energy said Wednesday that they will work together to develop new infrastructure to accelerate the adoption of natural gas as a transportation fuel. The biggest hurdle to natural gas's wider use in vehicles is refueling.
BASF, Petronas sign pact to develop Johor refinery
Malaysia's state-owned oil-and-gas firm Petroliam Nasional, or Petronas, said Tuesday that it has signed an agreement with BASF to form a joint venture to develop a new refinery project in Pengerang, Johor. The project is part of Petronas' planned Refinery & Petrochemical Integrated Development (RAPID) complex.
Chemtura breaks ground on petroleum additives, urethanes facility in China
US-based specialty chemicals firm Chemtura on Tuesday held a groundbreaking ceremony for its new, multipurpose manufacturing facility in Nantong, China. This facility will be Chemtura’s largest single investment since its formation in 2005 and the centerpiece site for manufacturing in Asia-Pacific.
CERAWeek '12: US shale board talks fracking feud, hypes water management
Members and associates of the US Shale Gas Advisory Board (SGAB) opened the CERAWeek conference by sharing thoughts on the controversies and challenges surrounding shale gas and oil development.
HB Fuller acquires global industrial adhesives business of Forbo
HB Fuller has completed the acquisition of the global industrial adhesives business of Forbo Group, the company said on Monday. The unit generated approximately $580 million in revenue for the fiscal year ended Dec. 31, 2011 and operates 17 manufacturing facilities in 10 countries.
Pakistan rejects US call to drop Iran gas pipeline
Pakistan isn't shying away from a fight with the US over Washington's threat of sanctions if Islamabad continues to push ahead with plans for a gas pipeline to Iran. New Delhi, too, has argued that it needs Iranian crude oil to meet its energy needs, despite pressure from the US to cut back.
- U.S. tariffs on Brazil are a bitter pill for sugar and ethanol makers 7/17
- India launches first hydrogen-powered passenger train 7/17
- U.S. refiner margins hit new records as fuel shortage concerns grow 7/17
- Indonesia president aims to increase sugarcane, bioethanol production 7/17
- Morgan Fuels & Lubes achieves approval under the renewable fuels assurance scheme 7/16
- JERA and Samsung C&T to strengthen supply security of hydrogen and ammonia value chains 7/16
