COMPANIES

BP receives FTC clearance to sell Carson refinery and marketing assets to Tesoro

4:45 AM MDT | May 19, 2013 | Natasha Alperowicz

BP says it has received clearance from the US Federal Trade Commission (FTC) to sell its Carson, CA refinery and southwest US retail assets to Tesoro Corp. and expects to complete the sale in the second quarter of this year. Under the terms of the deal...

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Oxea completes feasibility study to expand Bay City, TX, site

Oxea has announced that it has completed a previously announced feasibility study to expand production of oxo products at its Bay City, TX, facility. The expansion will enable the company to add new products to the portfolio and increase output by 25%. The...

Report: Kuwaiti cabinet suspends PIC officials pending K-Dow investigation

Senior officials of Petrochemical Industries Co. (PIC; Kuwait City, Kuwait), a subsidiary of Kuwait Petroleum Corp. (Kuwait City), are to be suspended pending an inquiry into the payment of $2.2 billion to Dow Chemical following a decision in an emergency...

Dow Chemical appeals urethanes price-fixing award

Dow Chemical says it will appeal the judgment entered against the company in connection with a case covering alleged urethanes price fixing. Dow says that the award of $1.2 billion, resulting from the judgment, is essentially the same as the $400-million...

Univar acquires commodities distributor in Mexico

Univar says it has acquired Quimicompuestos (Monterrey, Mexico), a distributor of commodity chemicals in Mexico. Financial terms of the agreement were not disclosed. Quimicompuestos has relationships with more than 50 key suppliers and delivers in excess of...

State officials say cause of Texas fertilizer plant explosion still undetermined

In a public briefing on Thursday, Robert Champion, the agent in charge of the Dallas office of the Bureau of Alcohol, Tobacco and Firearms and Explosives (ATF), says the cause of the explosion at the West Fertilizer Co. that occurred on 17 April, killing 14...

Private equity firm Advent appoints Solvay executive as operating partner in China

Private equity firm Advent International has made a first appointment to its operating partner program in China, the company has announced. Advent appointed Michael Ming-Yue Zhu, country general manager of Solvay China to the program. Zhu will advise Advent...

Court triples Dow's urethanes price-fixing fine, to $1.2 billion

A Kansas federal court on Wednesday ordered Dow Chemical to pay $1.2 billion in a previously announced urethanes price-fixing case, tripling, as expected, the fine announced in February this year. Dow was one of five companies named in a 2005 class...

Tronox reports first-quarter loss but growing TiO2 volumes

The adjusted earnings per share loss of 45 cts fell short of the analyst consensus estimated loss of 21 cts/share....

Oxiteno's Ebitda increases 21%, supported by weaker currency and higher volumes

Oxiteno, the specialty chemicals arm of Ultrapar (São Paulo), achieved an Ebitda of 81 million Reais ($40 million) during the first quarter of 2013 compared with the same quarter of 2012. The Ebitda figure represents a 21% increase over the same...

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