Europe
Gazprom in talks with Petrovietnam for long-term LNG supply contract
Gazprom, the world's largest extractor of natural gas, plans to lift sales to Asia to help offset a drop in demand and regulatory troubles in its most lucrative market, Europe. It is planning to build a gas liquefaction plant in Vladivostok on Russia's Pacific coast. Potential financial terms weren't disclosed.
UK lawmakers to investigate decline in refining
The Energy and Climate Change Committee, appointed by parliament to examine government expenditure, administration and policy, said it was seeking evidence on what must be done to maintain a suitable baseline level of capacity. The UK had 18 oil refineries in the late 1970s, but has just 7 in 2013.
Executives predict shale boom in Russia and China, but Europe lags behind
Torbjorn Tornqvist, chief executive of trading house Gunvor, said Wednesday it was clear that shale production on a scale similar to that in the US is possible in several of the world's biggest current energy producers and consumers -- but that Europe is unlikely to be transformed by it.
IEA warns of no progress on clean energy goals
The IEA estimates that a cut in the carbon emissions per unit of energy of more than 60% is needed to prevent global average temperatures rising by more than two degrees Celsius in the long term, and maintaining current levels would yield a temperature increase of six degrees Celsius.
BASF awards process engineering pact to Jacobs for Antwerp chemicals site
Under terms of the contract, Jacobs is providing process, piping and electrical/ instrumentation engineering services to the Antwerp chemicals site. Officials said the contract duration is three years.
Fluor wins FEED work from BP, Shell for clean fuels project in South Africa
The project will enable a substantial upgrade of the SAPREF refinery, thereby improving the quality of transportation fuels by reducing levels of sulfur, benzene and aromatics and meeting enhanced legislative requirements. The deal allows for a possible EPCm contract to be signed at a later date.
French court rejects bids for Petroplus refinery
The court considered Libya's Murzuk Oil and Dubai-based NetOil as potential bidders after months of selection, but they didn't offer enough financial strength for a project that requires heavy investment. The court-appointed receiver will now seek a buyer for the plant's assets and dismantle it if none is found.
Shell mulls sale of downstream businesses in Italy
The potential sale is consistent with Shell’s strategy to concentrate its global downstream businesses where it can be most competitive, according to company officials. Recent examples include the sale of refineries in the UK and Germany and downstream businesses in Finland and Sweden.
Uganda seals deal to build refinery, export pipeline
The agreement to build a refinery with a capacity of just 30,000 bpd was reached following a meeting on Saturday between Mr. Museveni and representatives of the oil companies. It follows a warning from Total in February that failure to include an export pipeline in the plan would stall the development.
IEA cuts global oil demand outlook, warns on supply
The downward revision by the Paris-based consumer group reflects similar moves by other industry forecasters as concerns over the global economy continue to weigh on demand expectations. The decline reflects very weak demand from industrialized countries, particularly in Europe.
- Aramco’s gas strategy builds momentum with major progress towards growth target 2/26
- Carbon Direct and C2X announce collaboration on pioneering forestry residue-to-biofuel project 2/26
- Air bp signs agreement with Airbus for aviation services and fuel supply in Europe 2/26
- Turkey Wealth Fund in talks for a potential $10-B petrochemical complex 2/26
- Asia's ethanol targets and recent developments 2/26
- Eni can now receive oil from Venezuela as payment for gas, CEO says 2/26
