Americas
Nalco to build dry polymer plant at Louisiana facility
Nalco announced the construction of a new dry polymer production facility at the company’s complex in Garyville, La. Construction of the facility is expected to be completed in December 2012. The plant is expected add 22 full-time positions to the company’s current Garyville workforce of 235 employees.
IEA predicts sharp rise in global refining production
Refiners are poised to ramp up production after seasonal spring maintenance and expected stronger demand for oil products through the summer, the IEA says. Fuel demand traditionally picks up in the northern hemisphere summer but especially in the US, the world's largest oil consumer.
NOVA to sell North American styrenics unit to PFB
PFB Corp. has agreed to acquire performance styrenics business of Canada’s NOVA Chemicals, including the expandable polystyrene (EPS) and ARCEL resin products. PFB says the acquisition will underpin a vertically-integrated, construction-materials focused product offering in the US.
OPEC boosts group oil production to highest level since '08 recession
Acting to dampen market nervousness amid Iran supply fears, OPEC on Thursday said it was pumping more oil than the market needs - at levels not seen since summer 2008 - and signaled demand destruction had been halted for now. Crude production was up 317,000 bpd month on month.
PetroChina eyes idled Valero refinery in Aruba
PetroChina is reportedly in talks to buy the 235,000 bpd refinery for $350 million. After a January restart, Valero suspended operations in March, citing poor economics.
TransCanada to start building Keystone oil terminal
TransCanada said Wednesday that it successfully concluded an open season for the Keystone Hardisty terminal project. Based on the commitments, the company is expanding the proposed 2 million bbl of crude oil batch accumulation tankage and pipeline infrastructure to a 2.6 million bbl terminal.
Petroplex to build major Louisiana liquids terminal
Petroplex International says it has raised capital to move forward with plans to build a $600 million bulk liquid terminal in St. James Parish, Louisiana, with a projected initial storage capacity of 4 to 6 million bbl. Construction is expected to commence during the first half of 2013, with start up in 2014.
Westlake Chemical restarts VCM plant in Louisiana following March fire
Westlake Chemical said Wednesday that the vinyl chloride monomer unit at its complex in Geismar, Louisiana, has been safely repaired and restarted. The company added that it is working with customers and suppliers to mitigate the impact of the outage and to meet their needs.
Exxon restarts part of Louisiana pipeline after spill
ExxonMobil Pipeline Co. has restarted part of its North Line oil pipeline in Louisiana, which was shut down April 28 because of a leak, Reuters reported Monday citing a spokeswoman. The stretch of North Line affected by the leak, northwest of Baton Rouge, remained shut, according to the company.
HB Fuller to sell Latin American paints business
H.B. Fuller has signed an agreement to sell its Central American paints business to Colombia's Pintuco, a company of Grupo Mundial. "Our strategic vision is to be the best adhesives company in the world, and the paints business is not, therefore, core to our strategic plan," said CEO Jim Owens.
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