Europe
BP to invest $15bn in Angola over next 20 years
BP plans to invest $15 billion in Angola over the next two decades, CEO Bob Dudley said at a press conference in Luanda. BP has already invested $15 billion in various projects in Angola and plans to invest another $15 billion for the next two decades, the CEO said.
Coca-Cola plans to have 100% plant-based bottle
Coca-Cola expects to have a plastic bottle made entirely from plant-based materials ready for commercial use in the next few years as it looks to reduce its reliance on petroleum used in traditional plastic bottles. Coca-Cola believes it can have the plant-based bottle developed by 2015 so that, by 2020, all of its plastic bottles can be using the new material.
Petrobras, Tereos mulling fuel ethanol production in Mozambique
Brazilian state-owned oil company Petroleo Brasileiro, or Petrobras, and French-controlled sugarcane miller Tereos Internacional said Wednesday they plan to study the possibility of producing and selling ethanol fuel in Mozambique. The two firms already operate a mill in the southern African country that crushes 1.2 million metric tons of sugarcane.
IEA trims 2012 world oil demand growth forecast on economic woes
The International Energy Agency on Tuesday trimmed its forecast for world oil demand growth in 2012 versus its earlier 2012 projection based on the worsening global economic backdrop and persistently elevated oil prices, but said demand will remain robust and markets tight until 2013. The IEA forecast global oil demand at 90.3 million bpd in 2012, up from 89 million bpd this year.
Global refinery runs to rise in first quarter - IEA
Refinery runs across the globe will bounce back in the coming months as refineries return from heavy autumn maintenance and ramp up production even as profits on oil products fall, the International Energy Agency said Tuesday in a monthly report. Refinery runs will rebound to 75.8 million bpd, or 1.2 million bpd higher than the year-earlier quarter, after relatively weak growth since April.
Jacobs awarded work on CO2 capture project at Gassnova refinery in Norway
Jacobs Engineering Group was awarded a framework contract from Gassnova SF for its CO2 Capture Mongstad (CCM) project at its Mongstad refinery site in Norway. Jacobs is providing engineering and technical assistance services to support the installation of a large-scale carbon dioxide (CO2) capture plant for a combined heat and power (CHP) plant at the refinery.
Refining estimates lowered in Q4 for oil majors
Morgan Stanley has lowered by 7% its refining estimates for major oil refineries in the fourth quarter of 2011, the company said in a note Monday. Factors included a narrowing spread between Nymex crude and Light Louisiana Sweet crude.
Haldor Topsøe wins diesel hydrotreater deal for Rosneft refinery in Russia
Haldor Topsøe has won the contract for a diesel hydrotreating unit for the Russian Syzran Refinery owned by Rosneft, the largest Russian oil company. The contract is a continuation of Topsøe’s and Rosneft’s collaboration, the companies said.
Suncor Energy suspends Syria oil operations
Suncor Energy declared force majeure under its contractual obligations and is suspending operations with the General Petroleum Corp. (GPC) in Syria, the company said on Monday. Suncor management is not changing total production guidance (2011 or 2012) because Libyan production is ramping up and was not included in the existing guidance.
Outlook bleak for Europe, US refiners at end of dismal year
A dismal year for the European and US refining market is set to end on a sour note as profit margins are squeezed by high oil prices and lackluster product demand.
- 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
- NASCAR names POET official bioethanol partner: Becomes first major motorsports series to utilize zero-carbon bioethanol 2/16
- ExxonMobil starts third advanced plastics recycling unit at Baytown complex 2/16
- Geoinform, subsidiary of the MOL Group, signs strategic cooperation agreement with Baker Hughes 2/16
