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Industry news
News and events from around the industry
Lead News
Symposiums highlight strategies for winning in a downturn
Shell Global Solutions' recent Regional Symposiums in Barcelona, Singapore and Calgary/Banff addressed key industry issues through keynote speeches from technical experts and industry leaders.
Downstream
Deloitte foresees trouble for refining industry
Refining margins in the USA are likely to shrink in the coming years because stricter fuel economy standards and rising mandates for blending ethanol and other biofuels will reduce gasoline demand, according to a recent study by Deloitte LLP.
Investing in Iranian refining
Several Chinese companies are to expand their presence in Iran's oil refining sector by investing in new and existing facilities in a construction spree that will substantially increase the country's refinery output.
Energy landscape reshape possible
A recent study from IHS Cambridge Energy Research Associates (IHS CERA) suggests that meeting energy efficiency goals could lower natural gas consumption by 16% by 2020 and fundamentally reshape Europe’s energy landscape by 2030.
Design and construction costs fall
The recent IHS CERA index shows that design and construction costs for refineries and petrochemical projects declined during the six months to March 2009 after a long period of increase.
Upstream
Iraqi unions fight foreign oil players
Unions are lobbying against Iraq's new oil contract with BP and China's CNPC, but the weakened labour movement may have a hard time thwarting the deals desperately needed to revive a struggling oil sector.
Deep-water exploration looks promising in Gulf of Mexico
Vigorous deep-water exploration over the next few years could push Gulf of Mexico oil production to 1.8 million barrels a day, according to the US Minerals Management Service.
Pipeline deal to break gas monopoly
Turkey, Austria, Bulgaria, Romania and Hungary have formally agreed to route the 3,300‑km Nabucco pipeline, a project to pump natural gas from Azerbaijan to Europe via Turkey, across their territories, thus pushing forward a US and EU backed attempt to make Europe less dependent on Russia for gas.
Industrial markets
Paper industry earnings fall
Global forestry, paper and packaging earnings have dropped, according a PriceWaterhouseCoopers industry survey.
Low steel demand to crimp output through 2009
Weak steel demand will continue to weigh on steel output and pricing through to the end of this year. Some improvement is expected in the second half from destocking, according to a special global report by Fitch Ratings.