Economics
Shareholders approve all-share offer by Wood Group for Amec Foster Wheeler
Shareholders of Wood Group and Amec Foster Wheeler overwhelmingly approved Wood Group’s recommended all-share offer for Amec Foster Wheeler. The deal remains subject to relevant clearances from competition authorities in certain countries where both companies operate. It is expected that the transaction will complete in the fourth quarter of 2017.
IEA: Oil supply growth to outpace rise in consumption in 2018
LONDON (Reuters) — Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 MMbpd for the first time, the International Energy Agency said on Wednesday.
Mexico's Pemex fined $20 MM for anti-competitive fuel practices
MEXICO CITY (Reuters) — Mexico's antitrust watchdog has fined a division of state-owned oil company Pemex for failing to establish a competitive fuel market, the agency said on Monday.
GE wins US antitrust approval for Baker Hughes deal
WASHINGTON (Reuters) — General Electric Co won US antitrust approval to merge its oil and gas business with Baker Hughes Inc to form a new publicly traded company, the Justice Department said on Monday.
Crude oil, fuel shipping costs from Qatar set to rise on port ban
SINGAPORE (Reuters) — The costs to ship fuel and crude oil from Qatar are expected to rise after the United Arab Emirates banned vessels that previously called at Qatar from docking at UAE ports, multiple sources from the oil and shipping sectors said on Monday.
Petrobras denies Brazil govt meddling in LPG pricing move
RIO DE JANEIRO (Reuters) — The Brazilian government is not meddling in pricing decisions by state-controlled oil producer Petróleo Brasileiro SA, which on Wednesday kept cooking gas out of a pricing system based on international parity.
UAE re-imposes port ban on Qatari-linked oil tankers
SINGAPORE (Reuters) — Abu Dhabi Petroleum Ports Authority has re-imposed a ban on oil tankers linked to Qatar calling at ports in the United Arab Emirates, reversing an earlier decision to ease restrictions, and potentially creating a logjam of crude cargoes.
Vitol, Gunvor eye Mozambique fuel distributor privatization
MAPUTO (Reuters) — Global oil traders Vitol and Gunvor are interested in buying Mozambique's struggling state-owned fuel distributor Petromac, local media reported on Wednesday.
Modified revamp process to reduce energy use in an SDA unit
Solvent deasphalting (SDA) is emerging as a low-cost, bottom-of-the-barrel upgrading process to recover valuable oil from short residue. This oil can either be further processed to make lube-oil-based stocks or cracked in secondary processing units.
Global Project Data
<i>Hydrocarbon Processing’s</i> Construction Boxscore Database is tracking more than 1,700 active downstream projects around the world.
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