Europe
Oil edges up in quiet holiday trade, focus on crude glut
(Reuters) — Oil prices rose slightly on Monday, paring steep losses from last week, but the market remained cautious as increases in US drilling activity have undercut an OPEC-led push to tighten supply.
Oxea expands production capabilities for butyric acid, propionic acid
MONHEIM AM RHEIN, Germany — The global chemical company Oxea has concluded an upgrade of its carboxylic acids production facility in Oberhausen, Germany. As a result, Oxea has enhanced the production output of short-chain fatty acids (SCFAs), such as propionic acid, butyric acid, and isobutyric acid.
Oversold: Oil traders punish OPEC for promising too much
VIENNA (Reuters) — As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.
PKN ORLEN opens to a new model of urban mobility
PKN ORLEN has got involved in car-sharing services by becoming the strategic fuel partner for Traficar. As part of this cooperation, in the cities where the service is available, customers will be able to leave or rent a car at selected PKN ORLEN service stations.
Britain's Spirax-Sarco to buy thermal tech firm Chromalox for $415 MM
(Reuters) — Britain's Spirax-Sarco Engineering Plc said it had agreed to buy Pittsburgh-based thermal technology company Chromalox Inc from private equity firm Irving Place Capital for $415 MM on a cash-free, debt-free basis.
Odfjell SE purchases chemical tanker in second-hand transaction
Odfjell SE is pleased to announce the purchase of M/T Argent Eyebright. The vessel was built in November 2009 by Kitanihon Shipbuilding in Japan.
Chevron increases organosulfur capacity at Tessenderlo facility
Chevron Phillips Chemical Company LLC has expanded its Tessenderlo, Belgium plant by debottlenecking its production unit for Ethyl Mercaptan (EM) and Tetrahydrothiophene (THT).
WorleyParsons awarded framework agreement by Refining NZ
Refining NZ has awarded WorleyParsons a 5-yr framework agreement for performance of engineering, procurement, shutdown and construction management services (EPCm) at the Marsden Point Refinery.
OPEC extends oil output cut by nine months to fight glut
VIENNA (Reuters) — OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.
Shell shareholders reject emissions target proposal
THE HAGUE (Reuters) — Royal Dutch Shell shareholders on Tuesday widely rejected a proposal by an environmental group calling for the oil company to set and publish annual targets to reduce carbon emissions.
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- OQ courts other partners for petrochemical complex in Oman as SABIC drops out 12/12
- Brazil's BNDES approves $71 MM for carbon storage project 12/12
- Cuba on edge as U.S. seizure of oil tanker puts supply at risk 12/12
- China oil demand to plateau between 2025 and 2030 12/12
- Germany's PCK refinery says no impact from pipeline leak 12/12
