Americas
Keystone delay causing tremors among big oil, benefiting small refiners
The US State Department's decision to delay TransCanada Corp.'s expansion of its Keystone pipeline system sparked quick concern in the North American energy industry. The move would delay completion of the project by a year and a half, according to the American Petroleum Institute (API).
Sinopec confirms deal with Galp Energia to buy 30% of Brazil assets
China Petrochemical Corp. said Friday that it has signed an agreement to buy a 30% stake in the Brazilian unit of Portuguese oil company Galp Energia SA for $3.54 billion. Galp's assets in Brazil include four deep-water blocks in the Santos Basin, it said.
US shale study finds no clear link between fracking, water contamination
Initial findings from a study on hydraulic fracturing in shale gas development suggest no direct link to reports of groundwater contamination. The project leader offered early observations from the study at a briefing in Fort Worth, attended by local government officials, regulators and energy company executives.
Celanese to buy polyvinyl acetate lines of Ashland
US-based specialty chemicals firm Celanese has agreed to acquire polyvinyl acetate assets from Ashland, including its Vinac and Flexbond product lines, to support strategic growth of Celanese’s emulsion polymers business. Revenues of Vinac and Flexbond were approximately $45 million in 2010.
US paints, coatings demand to grow 8%/yr - study
US demand for paints and coatings is forecast to increase 7.8 percent annually to $26.2 billion in 2015, according to a new study from US-based market research firm The Freedonia Group. The US paints and coatings market will continue to be impacted by the trend toward sustainability, the study says.
Shell sees strong interest in proposed reversal of Louisiana-to-Houston pipeline
Shell Pipeline said on Thursday that it has received a “very encouraging response” to its non-binding solicitation of interest period for capacity on its proposed Houma-to-Houston pipeline system reversal project (Ho-Ho Reversal). Subject to customer commitments and regulatory approval, the Ho-Ho Reversal is expected to begin service by early 2013.
Conoco names downstream spinoff Phillips 66, picks Houston for headquarters
ConocoPhillips announced Thursday that its downstream spinoff company will be named Phillips 66 and be headquartered in Houston. ConocoPhillips, which will be a pure-play exploration and production company after the repositioning, will continue to be headquartered in Houston at the existing ConocoPhillips facility.
Colfax launches Total Lubrication Management unit
US-based fluid-handling products and technology firm Colfax launched a new business titled Total Lubrication Management, which it says will provide oil, gas and chemical processing facilities with a holistic approach to lubrication of rotating machinery. Based in Houston, the company said it designs and establishes lubrication programs through a three-step program.
US delays Keystone XL pipeline until after 2012
President Barack Obama called Thursday for further study of the controversial Keystone XL Pipeline, putting off a final decision until after the 2012 elections and triggering both praise and criticism on Capitol Hill. TransCanada Chief Executive Russ Girling said the company remains confident the pipeline will be approved.
Oiltanking plans two new Houston crude pipelines
The board of directors for Oiltanking Partners has approved expansion projects to build two new crude oil pipelines in the Houston Ship Channel, bringing approximately 1 million bbl of new crude oil storage capacity to the company’s Houston terminal facility. In addition, the company is poised to construct additional crude storage tankage to support the rising customer demand at Oiltanking Houston, it said.
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