Europe
Eastman Chemical wins EU approval for Solutia buy
The European Commission has cleared the proposed acquisition of Solutia by Eastman Chemical, the competition watchdog group said. The merger is not expected to result in any substantial change in the markets concerned since Solutia is not a customer of Eastman in the EEA.
US refiners set to begin exports to West Africa
The US industry will soon expand its exporting to include gasoline sales to West Africa, predicts Valero CEO Bill Klesse. "That's something we haven't seen before," he said.
UK investor warns shale gas industry on emissions
One of Europe's largest institutional investors warned the shale gas industry to do more to prevent the release of the potent greenhouse gas methane during drilling, which is undermining its basis as a cleaner alternative to coal. Comments were directed primarily at drilling operations in the US.
Technip to buy Shaw energy, chemicals business
Shaw is selling the segment to Technip for $300 million in cash, adding that further collaborations between the two companies are possible for Shaw’s core business units. The companies further agreed to work toward developing future business relationships involving Shaw’s core business units.
European refiners under pressure from Middle East refining boom - Eni
Eni said a refining boom in the Middle East is putting pressure on European refiners because the Middle East producers, who have lower costs, are now entering the market in Europe - especially the Mediterranean. The official said output at Eni's Sicilian refinery of Gela had already fallen sharply.
Shell remains committed to natural gas plan - CEO
Royal Dutch Shell believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, its CEO Peter Voser said on Tuesday. Despite a recent drop in US gas prices, the long-term pricing outlook for natural gas remains strong, he noted.
PetroSA partners with China's Sinopec to build new South Africa refinery
South Africa's national oil company PetroSA will partner with China Petroleum and Chemical Corp. (Sinopec) to build a new refinery that was originally planned to produce several thousand barrels of oil a day and cost several billion dollars to build. PetroSA first announced plans for the refinery in 2008.
RINA to project manage FLNG terminal in Indonesia
RINA Group will deliver concept selection, FEED, support during negotiations with potential shipyards, project management during construction, and support for commissioning for a new floating LNG terminal in South Sumatra, Indonesia. The terminal is expected to come into service in mid-2014.
Refinery upkeep costs poised to rise, says Tyco
Refinery maintenance will likely become more expensive in the next few years as operators have to make costly changes to comply with new environmental regulations.
UK fuel tanker drivers avert strike after close vote
A threatened strike by fuel-tanker drivers has been avoided after members of the drivers' union voted to accept a deal offering common safety standards and training, as well as an accreditation scheme for drivers. The deal was reached after eight days of talks at the UK arbitration group Acas.
- Morgan Fuels & Lubes achieves approval under the renewable fuels assurance scheme 7/16
- Emerson automates refinery scheduling to improve margins, respond faster to market volatility 7/16
- Russia seeks more gasoline from India after Ukraine attacks refineries 7/16
- Valmet delivers automation system for CO₂ liquefaction plant supporting green transition in Finland 7/16
- EIA: U.S. crude stocks fall as refiners step up processing 7/16
- Opinion: China’s oil fortress will reshape the global order 7/16
