IHS Chemical Week
ENERGY AND FEEDSTOCKS

BASF appoints new president of oil & gas and Wintershall subsidiary

2:22 PM MDT | March 27, 2015 | Natasha Alperowicz

BASF said today that Mario Mehren, member of the board of executive directors of Wintershall (Kassel, Germany) responsible for exploration & production/Russia, North Africa and South America, has been named president of BASF’s oil & gas division...


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Chevron to sell stake in Caltex Australia

Chevron announced today that its wholly owned global energy subsidiary has entered into an underwriting agreement for the sale of its 50% stake in Caltex Australia (CAL). The company expects to sell the stake for $3.6 billion. CAL owns an oil refinery at...

CB&I, Chiyoda, and Zachry consortium awarded contract for LNG liquefaction and export facility

A consortium comprising CB&I, Chiyoda International, and Zachry Group today announced the award of a contract valued in excess of $2 billion by FLNG Liquefaction 3 (Freeport LNG) for the engineering, procurement, and construction of the third train of the...

IHS WPC 2015: ExxonMobil sees US petrochemical advantage as durable

“Changing oil prices have not changed the fact that shale production technologies have unlocked an abundant long-term supply of natural gas in the region,” says Matt Aguiar, senior v.p. at ExxonMobil Chemical. “US gas production has grown by 45% over the past six years. The nation has a nearly 100-year natural gas supply, and it’s still growing.”...

IHS WPC 2015: Petchem margins to remain high in new oil environment

Basic chemicals generated record earnings last year, but low crude oil prices have transformed the outlook for 2015 and beyond, according to Dave Witte, sr. v.p. and general manager at IHS Chemical. Supply curves have flattened, feedslates are heavier, and costs have dropped, reducing the competitive advantage of low-cost producers, he explains. The result is that margins have migrated downstream to consumers and away from feed-advantaged geographies and assets, he says....

ACC: US chemical production posts 4.2% YOY gain

Chemicals production in the United States grew by 4.2% on a year-on-year (YOY) basis in February, the largest gain since 2010, according to ACC’s US chemical production regional index (CPRI). On a three-month moving average (3MMA) sequential basis, the...

German chemical trade union calls for "accelerated decision-making" in energy policies

Michael Vassiliadis, chairman of German trade union IG BCE (Hanover), which represents workers in the mining, chemical, and energy sectors, has called on the federal government to accelerate the decision-making process in regard to future energy policies. The...

Singapore researchers claim cost-effective method to transform palm-oil waste into biobased chemicals

Researchers from the Agency for Science, Technology, and Research (A*star; Singapore) have developed a fungal culture to cheaply and efficiently transform waste palm-oil material into biofuels and environmentally friendly plastics, A*star has announced. Palm...

IEA: Energy-related carbon dioxide emissions stalled in 2014

Global emissions of carbon dioxide (CO2) from the energy sector stalled in 2014, marking the first time in 40 years in which there was a halt or reduction in emissions of the greenhouse gas (GHG) that was not tied to an economic downturn, according to...

Petro Rabigh raises supplies from utility company to accommodate expansion

Petro Rabigh (Rabigh, Saudi Arabia), a joint venture between Saudi Aramco and Sumitomo Chemical, announced today an amendment to its existing Water and Energy Conversion Agreement (WECA) with Rabigh Arabian Water and Electricity Company (Rawec) to supply...

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