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

8:55 AM MDT | May 17, 2013 | Francinia Protti-Alvarez

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...


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Sasol to defend propylene and PP pricing policies before competition tribunal

The Competition Tribunal (Pretoria) is set to hear next week the case brought against Sasol by the Competition Commission (Pretoria), under which Sasol was accused of charging excessive prices for propylene and polypropylene (PP) in the South African market...

Ferro, shareholder group reach agreement on board nominees

Ferro has reached an agreement with FrontFour Capital and Quinpario Partners over nominees to Ferro’s board by support for election two out of three of the shareholder group's board nominees. The agreement comes after months of sparring between...

ENI and Versalis lose appeal against EU synthetic rubber price-fixing fine

The EU Court of Justice (Luxembourg) says it has rejected ENI's (Rome) appeal against a ruling by the EU General Court covering ENI's involvement in a price-fixing cartel in the synthetic rubber market between 1996 and 2002. ENI and its chemical...

Proxy advisory firm endorses Ferro director slate

Glass Lewis (San Francisco), a corporate governance research and proxy advisory firm, has endorsed Ferro’s three board nominees—Richard Brown, Gregory Hyland, and Ronald Vargo—at the company’s shareholder meeting to be held on 15 May...

Ashland-Clariant JV sold casting products to Iran

ASK Chemicals, a 50-50 joint venture between Ashland and Clariant, sold granulate, coatings, and hot top metal casting products to Iranian government entities, Ashland said in a regulatory filing. The jv sold about €790,000 ($1.04 million) worth of the...

Argentina launches process to protect workers at Vale's Rio Colorado potash project site

The Argentinean government has launched a negotiation process to protect the workers, including subcontracted personnel, at Vale's (Rio de Janeiro) Rio Colorado potash project in Mendoza, Argentina, the Ministry of Labor (Buenos Aires) announced. The measures...

European Parliament publishes draft report amending sustainability criteria for biofuels

The European Parliament has published a draft report that proposes drawing a distinction between the different types of biofuel based on their climate impacts. The draft report was introduced by parliamentary rapporteur Corinne Lepage on 17 April. Under the...

Argentina's biodiesel exports drop by almost 50% during first quarter

Argentinean biofuel exports have shrunk by a half so far this year, according to statistics published by Carbio, the Argentinean biodiesel chamber. During the first quarter of this year, 225,750 m.t. were exported, down 49.3% from the first quarter of 2012...

EU renewable energy directive will likely cost UK motorists £460 million in 2013–14

The United Kingdom's decision to increase the portion of biofuels to be blended into gasoline and diesel to 5% will cost motorists a total of £460 million ($706 million) during the 2013–14 fiscal year—but could increase to £1.3...

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