Europe
Greek refiner Motor Oil Hellas no longer buying Iranian crude
Greek refiner Motor Oil Hellas is no longer buying Iranian crude, and has not done so for some time, a person at the company told Dow Jones Newswires Monday. Motor Oil Hellas is one of two major refiners in Greece and is able to process more than 180,000 bpd of oil.
Gazprom predicts no drop in European gas demand
European political goals to lessen reliance on Russian natural gas won't affect demand, the deputy chief executive of OAO Gazprom told Wednesday's edition of Hungarian business paper Vilaggazdasag. The CEO was discussing European efforts to create new natural gas cross-border interconnectors.
Hyundai Heavy inks $1bn of Europe LNG ship orders
Hyundai Heavy Industries, the world's largest shipbuilder by order value, said Tuesday it has received, along with its affiliate company, a combined $1.1 billion LNG ship order in Europe. The companies said they will deliver five LNG ships by the first half of 2015.
Jacobs wins engineering work on four Arkema PVC projects in China
Jacobs said it won four contracts from Arkema France for basic engineering services to support the provision of Arkema's proprietary suspension and emulsion technology to four of its clients in China. As currently planned, the four new projects in China will add more than 4 million tpy of PVC capacity.
KBR to process deep oils for Russian refiner TAIF
KBR was awarded a contract by TAIF Group to provide licensing and engineering services for the Veba Combi Cracker (VCC) to be implemented at the Nizhnikamsk refinery in the Republic of Tatarstan, Russia. It marks the largest VCC project award for KBR since acquiring the technology in January 2010.
Total to boost investments as quarterly profits rise
France-based Total said 2012 has begun favorably and that it will step up investments over the next three years after reporting a 12.8% increase in fourth-quarter net income on high oil prices and in spite of weak downstream markets and stable output. Total is targeting a 2.5%/yr increase in average output in 2012-2015.
Halliburton, Petronas form partnership to develop global shale resources
Halliburton and PETRONAS Carigali have signed an agreement for the evaluation and development of global shale resources, the companies said on Friday. They plan to set up a shale technical center in Kuala Lumpur, Malaysia, which is where the deal was signed.
IEA cuts 2012 outlook for global oil demand growth, cites weaker economy
The IEA lowered its estimate for global oil demand growth in 2012 to 800,000 bpd, compared to its previous forecast of 1.1 million bpd amid weaker economic predictions. Global GDP growth is revised down to 3.3% for 2012, from the 4.0% level assumed since September, the agency noted.
Gazprom to double European gas storage by 2015
Russian state gas firm OAO Gazprom plans to almost double the capacity of its underground gas storage capacity in Europe by 2015, the company said on Friday. Gazprom has recently been extracting gas from its European storage facilities at maximum levels.
Global paints, coatings demand to rise 5.4%/year through 2015 - study
Global demand for paints and coatings is forecast to rise 5.4%/year to 45.6 million metric tons in 2015, according to a new study. The Asia/Pacific region will remain the leading consumer of paint and coatings through 2015, and will also see the most rapid gains, according to the report.
- Aster Chemicals declares force majeure at Singapore naphtha cracker 8/29
- Orlen signs 1-yr deal with Equinor for supply of 15% oil it uses 8/29
- Novatek partially resumed processing at Ust-Luga complex 8/29
- Phillips 66 to begin winding down Los Angeles-area refinery next week 8/29
- Update: Mexico's Minatitlan refinery back online, Olmeca still down 8/29
- SIBUR produces test batch of first hexane plant in Russia 8/28
