Europe
Technip to buy Shaw energy, chemicals business
Shaw is selling the segment to Technip for $300 million in cash, adding that further collaborations between the two companies are possible for Shaw’s core business units. The companies further agreed to work toward developing future business relationships involving Shaw’s core business units.
European refiners under pressure from Middle East refining boom - Eni
Eni said a refining boom in the Middle East is putting pressure on European refiners because the Middle East producers, who have lower costs, are now entering the market in Europe - especially the Mediterranean. The official said output at Eni's Sicilian refinery of Gela had already fallen sharply.
Shell remains committed to natural gas plan - CEO
Royal Dutch Shell believes rising natural gas demand will underpin its future profits, even though oil pricing still accounts for 80% of its margins, its CEO Peter Voser said on Tuesday. Despite a recent drop in US gas prices, the long-term pricing outlook for natural gas remains strong, he noted.
PetroSA partners with China's Sinopec to build new South Africa refinery
South Africa's national oil company PetroSA will partner with China Petroleum and Chemical Corp. (Sinopec) to build a new refinery that was originally planned to produce several thousand barrels of oil a day and cost several billion dollars to build. PetroSA first announced plans for the refinery in 2008.
RINA to project manage FLNG terminal in Indonesia
RINA Group will deliver concept selection, FEED, support during negotiations with potential shipyards, project management during construction, and support for commissioning for a new floating LNG terminal in South Sumatra, Indonesia. The terminal is expected to come into service in mid-2014.
Refinery upkeep costs poised to rise, says Tyco
Refinery maintenance will likely become more expensive in the next few years as operators have to make costly changes to comply with new environmental regulations.
UK fuel tanker drivers avert strike after close vote
A threatened strike by fuel-tanker drivers has been avoided after members of the drivers' union voted to accept a deal offering common safety standards and training, as well as an accreditation scheme for drivers. The deal was reached after eight days of talks at the UK arbitration group Acas.
Nord Stream mulls expansion for Russia-to-Europe gas pipeline system
Nord Stream, the consortium that operates a natural gas pipeline that ships Russian gas to western Europe via the Baltic Sea, said over the weekend it is considering further expanding the pipeline. It didn't say by how much the expansion could increase gas shipping capacity.
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.
Qatar looks to buy stakes in oil giants Shell, Eni
Qatar's sovereign wealth fund, continuing its recent splurge on overseas assets, is eyeing stakes in Anglo-Dutch energy group Royal Dutch Shell and Italy's Eni. Qatar is in "very advanced talks" to buy 3-5% of Shell, a major investor in Qatar, and a 3% stake in Italian oil giant Eni.
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