Europe
Gunvor to raise $500mn credit for Belgian refinery crude oil, feedstock
The funds will be used to finance the purchase of crude oil and feedstock for the refinery. Cyprus-based Gunvor, one of the world's largest independent traders of commodities, bought the Antwerp refinery from insolvent Swiss-based refiner Petroplus Holdings AG earlier this year.
Gevo, Beta agree to develop integrated process for cellulosic isobutanol
The deal also anticipates commercialization of the technology upon project success, which could enable renewably-sourced, competitively-priced jet fuel as well as other chemicals and fuels made from isobutanol.
BP dragged into UK bribery probe over contractor
Investigators from the Serious Fraud Office have contacted BP over bribery allegations relating to engineering projects one of its contractors is undertaking in Azerbaijan, the Telegraph reports.
Aramco ships Europe fuel oil to Red Sea, eyes more
Saudi Aramco is shipping fuel oil from Northwest Europe to the Red Sea to meet Saudi Arabia's peak summer demand, taking advantage of arbitrage economics that have been favorable up until recently.
Coryton refinery becomes latest casualty of Europe industry doldrums
The site will live on in radically changed form as a distribution terminal employing no more than 50 permanent staff, a tenth of the current staff of 500 - which doesn't include an equal amount of contractors. A first batch of 180 dismissal notices were handed out in late June, with more to follow.
Lyondell to supply PP technology for Sibur in Russia
A SIBUR affiliate has selected the Spheripol process technology from LyondellBasell for a new 500,000 tpy single-line polypropylene (PP) plant to be built in Tobolsk, Russia. Start-up is scheduled for 2017.
ExxonMobil mulls sale of German Esso gas stations
ExxonMobil is in preliminary talks with various parties, some of whom might be from Russia or eastern Europe, the Bloomberg report cited people as saying. Two of the people said the unit, which includes more than 1,100 gas stations, could fetch more than €1 billion ($1.3 billion) in a sale.
Europe plays increasing role in US gasoline market
The current state of the crude oil and refining industry in the Northern Atlantic basin has led to excess European gasoline production playing a vital role, says one analyst. That additional production could be saving the US East coast from shortages, he explains.
BASF to build butadiene extraction plant in Belgium
The plant will have a production capacity of 155,000 tpy and is scheduled to start up during 2014. In recent years, the volumes of butadiene available on the market have declined sharply. At the same time, demand from the tire industry and other industries has been rising.
Nigeria signs $4.5bn refinery deal with US company Vulcan Energy
The deal between US-based Vulcan Energy, the Nigerian government and a local firm, aims to build six refineries with a combined capacity of 180,000 bpd, Nigeria's Trade and Investment Ministry said in a statement, which also listed the 697.5 billion naira ($4.5 billion) price tag.
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- 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
