Americas
Dow reaches $2.5mn settlement with US agencies over Michigan pollution claims
The Midland, Mich. operations of Dow Chemical have reached a proposed comprehensive settlement agreement with the US Environmental Protection Agency (EPA) and the Department of Justice (DOJ), the company said on Friday. The agreement encompasses air, water, and waste issues identified during an inspection that was conducted over a 20-month period between August 2005 and March 2007.
Sulzer closes deal for Sweden pump supplier Cardo Flow Solutions
Equipment manufacturing firm Sulzer on Friday completed its previously-announced acquisition of Sweden-based pump supplier Cardo Flow Solutions. For a total cash consideration of SEK 5.9 billion (CHF 852 million), Sulzer acquired one of the leading suppliers of pumps and related equipment in the attractive wastewater market, it said.
Gulf oil, natural gas platforms shut in production as Tropical Storm Don targets Texas
Several oil and natural gas producers in the Gulf of Mexico began shutting in production and evacuating platforms on Thursday as Tropical Storm Don moves toward the lower Texas coast. Overall, the Gulf of Mexico accounts for 29% of US oil production and 13% of natural gas, according to the US Energy Information Administration (EIA).
US groups API, NPRA praise House passage of bill seeking Keystone XL Pipeline decision
The American Petroleum Institute (API) and National Petrochemical & Refiners Association (NPRA) each issued statements of support after the US House of Representatives passed the North American-Made Energy Act, which seeks to speed up the permitting process for the proposed Keystone XL Pipeline.
FMC forms agrochem distribution JV in Argentina
The agricultural products group of chemicals firm FMC Corp. has entered into a joint venture to form a new Argentine agrochemical distribution company named Ruralco Soluciones SA. FMC's partners in Ruralco are well-established agrochemical dealers previously associated with Argentine distributor Agropecuaria del Litoral, it said.
Chevron, Apache sign LNG sales pact with Tokyo Electric Power Co.
Chevron, Apache Energy and Kufpec have signed binding sales and purchase agreements (SPAs) with Tokyo Electric Power Company (TEPCO) to deliver liquefied natural gas (LNG) from the Chevron-operated Wheatstone natural gas project in Australia.
Braskem to buy global polypropylene business of Dow Chemical for $340mn
US-based Dow Chemical has agreed to sell its polypropylene (PP) business for $340 million to Braskem, a move which makes Braskem the top polypropylene producer in North America. The assets involved in the deal include two manufacturing plants in the US and two in Germany, with a total annual polypropylene production capacity of 2.3 billion pounds.
Rare earths sales likely to triple by 2015 - study
World demand for rare earths is forecast to expand by 7.1%/year to 180,000 metric tons by 2015, according to a new study from US industry market research firm The Freedonia Group. In dollar terms, sales are expected to more than triple from $3.0 billion in 2010 to $9.2 billion in 2015.
Calumet to buy Wisconsin refinery from Murphy Oil for around $475mn
Murphy Oil has agreed to sell its 34,300 bpd refinery in Superior, Wisconsin, for $214 million plus the value of hydrocarbon inventory to refiner Calumet Specialty Products. The hydrocarbon inventory will be valued based on market prices at closing, the company said. The inventory was valued at approximately $260 million as of June 30.
Biofuels firm Gevo to build isobutanol processing demonstration plant in Texas
Renewable chemicals and advanced biofuels firm Gevo will work with a subsidiary of the Arabian American Development Co. to build a hydrocarbon processing demonstration plant at their facility just outside of Houston in Silsbee, Texas.
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