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Industry news
News and events from around the industry
Lead news
Innovative technology centre opens in Amsterdam
Shell has opened a new, energy-efficient, state-of-the-art technology centre in Amsterdam, the Netherlands.
Downstream
Japanese merger to take on oil majors
Nippon Oil Corporation and Nippon Mining Holdings Inc. have merged in an $11.3 billion deal – the largest in Asia this year.
New technologies for Taiwanese petrochemicals company
Chang Chun Petrochemical Co. Ltd, one of the largest privately owned petrochemical companies in Taiwan, has signed a licensing agreement with Shell Global Solutions International BV.
New hydrocarbon streams treatment alliance
Shell Global Solutions (US) Inc. has an authorised licence with Merichem Company (Merichem) to market and license technologies for treating hydrocarbon streams.
Upstream
Angola plans dramatic increase in oil production
Substantial inward investment in the Angolan oil industry is a welcome consequence of the current peace in the African state. Angolan officials predict that the result will be a two-thirds increase in production over the next five years.
British government support for Cadogan Petroleum
The UK government has intervened in a dispute between Cadogan Petroleum plc and the government of Ukraine, which revoked five of the company’s oil exploration licences in the first half of 2009. The result for Cadogan was losses in the region of $28 million.
Gulf of Mexico discovery raises BP’s value
BP’s discovery of a giant oil reserve 400 km from land in the centre of the Gulf of Mexico has pushed the company’s value to over $166 billion.
Brazil looks set to become a major oil producer
Major oil and gas reserves have been discovered in the Atlantic off the Brazilian coast.
Industrial markets
Multibillion-dollar investment in Mexican petrochemicals
Braskem SA of Brazil, Latin America’s largest petrochemical producer, has announced a $2.5 billion initiative to build a petrochemical plant with Mexico’s Grupo Idesa SA. The Mexican plant will supply one million tonnes of ethylene a year.
US Congress reviews tax credit on “black liquor”
The US Congress is considering legislation that will save the government $24 billion dollars a year by removing a proposed tax credit from black liquor, an alternative fuel that is a by-product of the paper industry.