Europe
ExxonMobil, UOP to upgrade production technology for Bosnian refinery
The refiner will combine UOP’s Unicracking hydroprocessing solutions with EMRE’s distillate and lubricant de-waxing technologies. The complex will upgrade more than 45,000 bpd of kerosene, diesel and vacuum gas oil feedstock into high-quality diesel and jet fuels.
Rosneft to buy entirety of Russian TNK-BP venture
A Rosneft takeover of TNK-BP would bring the Russian state's control over oil production to nearly 50% and mark a major milestone in Mr. Putin's reassertion of Kremlin control over the strategic oil sector, much of which was sold off in the privatizations of the 1990s to well-connected tycoons.
EU proposes to reduce use of food-based biofuels
The European Commission is proposing to limit the share of energy from food crop-based biofuels to no more than 5% of the total energy used in the transport sector in 2020. That represents roughly the current amount of food crop-based biofuels used in EU transport fuels.
Sudan in talks with Essar Energy, other companies to upgrade two refineries
The minister said Sudan aims to double the capacity of one of the refineries from 25,000 bpd and increase capacity of the other refinery to 50,000 bpd, up from 15,000 bpd. He didn't give any timeline.
BP nears deal to sell stake in TNK-BP crude venture to Russia's Rosneft
TNK-BP has been one of BP's best investments, returning $19 billion in dividends on the roughly $8 billion paid for its 50% stake in 2003. The venture accounts for nearly a quarter of BP's reserves and production. But tensions with AAR over strategy and governance have plagued the venture for years.
French court rejects Petit Couronne refinery bids, orders plant liquidation
The court ordered the plant to keep operating for two months and set an additional deadline on Nov. 5 for companies interested in bidding for the assets under liquidation. Petroplus, which operated five refineries in Europe, filed for insolvency at the beginning of the year.
Höegh LNG orders new FSRU at Hyundai shipyard
The vessel will be able to operate as a floating LNG import terminal, as well as an ordinary LNG carrier, according to the company. The floating storage and regasification unit (FSRU) will be delivered in the first quarter of 2015. Specifications will be adapted to comply with project requirements.
ITT buys German systems firm Bornemann Pumps
Headquartered in Germany, Bornemann Pumps has strong international-installed base of multi-phase pumping systems, according to ITT officials. The company also serves the industrial, food and pharmaceutical sectors. The deal, valued at €206 million, would be funded from ITT’s cash.
OPEC lowers global oil demand forecasts for 2012
Economic growth is mostly set to come from emerging markets, but these countries are reliant on exports to developed economies, which have performed sluggishly this year. Moreover, improvements in the global economy are dependent on the success of government and central-bank action.
Cedecorp to build second Cameroon oil refinery
The new processing plant will produce between 200 and 300 bpd of refined fuel and Cedecorp will run the refinery for 10 years before handing it over to Cameroon. The project will be entirely funded by Texas firm Refinery Technology, although the cost of the construction wasn't disclosed.
- Industry collaboration brings new insights on corrosion under insulation 7/1
- IMI secures major contract to supply wireless vibration monitoring solution in Omani refinery 7/1
- KBR, ReVentas partner to scale polymer dissolution technology to recycle polyethylene and polypropylene 7/1
- Yara to reallocate capital from abandoned $2.9-B Louisiana Clean Energy complex project 7/1
- Schneider Electric to acquire Cognite in $3.1-B all cash deal 7/1
- BASF and Carlyle complete coating transaction, an enterprise value of €7.7 billion 7/1
