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Economics

Koch escalates tax reform battle with report on gasoline prices

WASHINGTON (Reuters) -- A Koch Industries-funded report warned on Friday US gasoline prices would rise if Congress passed a Republican proposal to adjust US corporate tax rates to favor exports over imports, escalating a lobbying battle over the measure.

Brazil's Braskem to pay $920 MM in leniency deal for corruption case

SAO PAULO (Reuters) -- Brazil's Braskem SA , the largest petrochemical producer in Latin America, signed a leniency deal on Wednesday with Brazilian prosecutors leading a sweeping corruption probe into political kickbacks at state-run oil company Petrobras, the company said in a securities filing.

Saudis order oil cuts to US, Europe before non-OPEC talks

VIENNA/SINGAPORE (Reuters) -- Saudi Arabia has told its US and European customers it will reduce oil deliveries from January as Russia signaled that a commitment from non-OPEC producers to join OPEC's output limits still faced challenges.

Oil extends gains on hopes for non-OPEC output cuts

TOKYO (Reuters) -- Oil prices extended gains for a second session running on Friday on optimism that non-OPEC producers would agree to cut output following a cartel agreement to limit production.

Organization urges Buffett's Berkshire to sell fossil fuel investments

(Reuters) -- A Nebraska nonprofit on Friday said it will propose that Warren Buffett's Berkshire Hathaway Inc. sell its investments in oil refiner Phillips 66 and other companies involved in fossil fuels over 12 years.

FMC, Technip announce Brazilian antitrust clearance of merger

HOUSTON and PARIS – FMC Technologies, Inc. and Technip today announced that the pending combination between the companies has received a clearance decision issued by the General Superintendent of the Administrative Council for Economic Defense (CADE), the Brazilian antitrust authority. The decision is subject to a 15-day waiting period.

Business Trends: Global refining overview—Part 4

Hydrocarbon Processing Staff: Nichols, Lee

Throughout its overview series of the global refining industry, <i>Hydrocarbon Processing</i> has provided a look at the state of the refining industry, new project developments, demand outlooks for the refining sector and the move to low-sulfur fuels. The previous sections have taken a detailed look at the refining sectors of Asia-Pacific, North America and South America. This fourth and final installment analyzes major trends in Africa, Europe and the Middle East, and offers data on planned refinery capacity additions, upgrades and grassroots facilities.

Industry Perspectives: New downstream project announcements drop 35% in 2016

According to <i>Hydrocarbon Processing’s</i> Construction Boxscore Database, nearly 470 new projects have been announced in the downstream hydrocarbon processing industry over the past two years. New project announcements have fallen from 285 in 2015 to 185 in 2016. This trend analysis represents a year-over-year decrease of approximately 35%.

Viewpoint: A new value proposition for a licensor and EPC contractor

Maire Tecnimont: Folgiero, P.

The drop in oil prices has changed the overall dynamics of the hydrocarbon processing industry (HPI), as well as reduced prices for petrochemical products. Approximately $150 B of oil and gas projects have been canceled or put on hold.

Automation Strategies: Drive maximum asset capability with operational technologies

ARC Advisory Group: Hill, D.

Owner-operators across the hydrocarbon processing industry (HPI) strive to gain maximum business value from their process plant assets. Here, automation assets and other operational technology (OT) typically play a major role.

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