Europe
Mississippi ranked as world's top spot for oil and gas investment
Mississippi is ranked as the top place in the world for oil and gas investment, according to the opinions of international petroleum executives and managers in the annual Global Petroleum Survey, released today by the Fraser Institute.
Total unloads UK downstream marketing assets
Total has signed a sale and purchase agreement to sell most of its marketing assets in the UK, the Channel Islands and the Isle of Man to Rontec Investments, a consortium led by Snax 24, an independent forecourt operator in the UK.
Release of strategic oil reserves: New form of economic stimulus
On June 23 International Energy Agency (IEA) members announced the release of 60 million barrels of strategic oil reserves over a month—the equivalent of 2 million barrels per day (bpd) for 30 days. Half of this amount—30 million barrels—will come from the US Strategic Petroleum Reserve (SPR), which currently holds 726.5 million barrels of crude. The release of 60 million barrels over 30 days will temporarily increase world oil supply by about 2.3 percent.
IEA nations to tap oil reserves as supply disruptions continue in Libya
International Energy Agency (IEA) executive director Nobuo Tanaka announced Thursday that the 28 IEA member countries have agreed to release 60 million bbl of oil in the coming month in response to the ongoing disruption of oil supplies from Libya.
Honeywell ‘green’ jet fuel powers first-ever transatlantic biofuel flight
Honeywell said its green jet fuel successfully powered the first transatlantic biofuel flight, which landed over the weekend at the Paris-Le Bourget airport.
KBR, Shell to align on hydroprocessing technology
KBR and Shell have formed a new alliance in which KBR will market, sell and provide technology and design packages with Shell for hydroprocessing solutions worldwide.
AkzoNobel plans €140mn expansion, upgrade to German chlorine plant
AkzoNobel will invest €140 million to convert its chlorine plant in Frankfurt, Germany, to state-of-the-art membrane electrolysis technology, the company said on Monday.
IEA sees increasing natgas use, warns of high oil prices curbing demand
Annual growth in oil demand could average 1.2 million barrels per day (mb/d) between now and 2016, while natural gas demand could grow by around 500 billion cubic meters – around 2.5 times Russia’s current gas exports – during the same time, according to the International Energy Agency’s (IEA) medium-term oil and gas market outlook.
Foster Wheeler wins engineering design deals for Preem refinery in Sweden
Foster Wheeler won a contract from Preem AB (Publ) Preemraff Lysekil (Preem) to perform the basic engineering design (BED) and front-end engineering design (FEED) for a 2013 turnaround at the Preemraff Lysekil oil refinery, located north of Gothenburg on the west coast of Sweden.
Tessenderlo to sell Europe PVC, chlor-alkali units to INEOS for €110mn
Tessenderlo will sell its polyvinyl chloride (PVC) and chlor-alkali businesses to INEOS subsidiary Kerling for €110mn, the companies said on Tuesday.
- 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
