Economics
Egypt plans to end fuel subsidies within three years
Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65% of their actual cost during the 2016/17 fiscal year.
Emerson to acquire valves & control business from Pentair
Emerson has signed an agreement to purchase the valves & controls business of Pentair for $3.15 B.
California sale of carbon permits falls short
California sold just over one-third of the carbon permits it offered to cover emissions this year, receiving the minimum price at an auction.
Sasol boosts Lake Charles ethane cracker price estimate by $2.1 B
Petrochemicals company Sasol Ltd. raised the price tag of its US ethane cracker project to $11 B from $8.9 B.
CIMIC Group issues update on Gorgon LNG lawsuit
Australia’s CIMIC Group Ltd. released a statement yesterday about a Notice of Dispute the company issued in February relating to the Gorgon LNG Jetty and Marine Structures Project.
China targets teapot oil refineries in tax crackdown
China's crackdown on alleged tax evasion in the oil industry will target independent refineries and follows complaints by state energy giants.
Column: China's fuel exports less worrisome than crude costs for refiners
China's booming fuel exports have contributed to a structural lowering of margins for the region's refiners, but fluctuations are still mostly linked to crude prices.
ExxonMobil defends handling of Torrance refinery outage
ExxonMobil is defending its handling of an outage at its Los Angeles refinery following a blast in February 2015 after a prominent trading company told a state commission that the process had lacked transparency.
NAC acquires Swiss Heights Engineering, Bellelli Group and Petrochem Industrie Group
NAC Global Technologies Inc. finalized its acquisition of Swiss Heights Engineering, a company that owns the Bellelli Group and Petrochem Industrie Group.
LNG slump, cost cutting spur rare output curb at Australian plant
Spending cuts and weak global liquefied natural gas prices have forced the operator of the Gladstone LNG project in Australia to consider running the plant at less than full tilt.
- Shell, CNOOC take FID on 1.6-MMtpy petrochemical complex expansion in China 1/15
- Russian oil products trapped at sea by U.S. sanctions 1/15
- California (U.S.) withdraws clean truck EPA waiver request ahead of Trump inauguration 1/15
- Amazon orders 200 new electric heavy trucks from Daimler for Germany, UK 1/15
- Colonial Pipeline shuts main gasoline artery after potential gasoline spill 1/15
- KT-Kinetics Technology, NEXTCHEM awarded contracts for Petronas hydrogen unit 1/14
