Europe
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.
Total partly replacing Iran oil with Saudi crude - CFO
Total stopped buying Iranian crude oil for its refineries and trading activities at the end of 2011 - six months ahead of a European embargo - and has partly replaced it with oil from Saudi Arabia, according to its CFO. The company has removed its exposure to Iran as the US and Europe have tightened sanctions.
Linde Engineering acquires biomass gasification technology of Germany's Choren
Linde Engineering Dresden has acquired the Carbo-V technology of insolvent Choren Industries, Freiberg from German insolvency administrator Dr. Bruno M. Kübler. The acquisition of the Carbo-V technology comprises all related patents and trademarks, and the purchase price was undisclosed.
Poland's PKN Orlen to intensify 2012 shale drilling
Polish state-controlled oil firm PKN Orlen plans to significantly intensify work on its shale gas concessions in Poland this year and has enough resources to continue exploration without partners. The company also plans to enter gas-fired power generation, it said.
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.
- BASF supports European 1,4‑butanediol supply security through increased production in Ludwigshafen 2/16
- Vitol backs proposed $3-billion LNG power plant for South Africa's Durban port 2/16
- HAMR Energy receives additional funding for low-carbon liquid fuels projects 2/16
- Suffocating Western pressure may finally force Russian oil output cuts 2/16
- SkyNRG starts construction on its first SAF plant in Delfzijl, the Netherlands 2/13
- India's Reliance wins U.S. license for Venezuelan oil 2/13
