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Global Processing e-News

OPEC prepares for falling oil market share in 2014

The global oil market is "well-supplied," despite predictions that the market share of the Organization of Petroleum Exporting Countries (OPEC) is likely to slip in 2014, due to increased production from non-OPEC countries.
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30% of global food production is wasted, UN study shows

As much as one-third of the total amount of food produced worldwide is wasted, costing the global economy about $750 billion on an annual basis, a new UN Food and Agriculture Organization report claims.
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BP awards contracts worth £1 billion For North Sea development

British oil giant BP announced last week that more than 30 UK companies have been awarded contracts worth a total of over £1 billion for the development of two oil fields in the North Sea.
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Total plans to increase hydrocarbon resins, polymer production in France

French oil and gas giant Total will invest EUR160 million to convert its Carling petrochemical platform by 2016 and plans to close the naphtha cracker during the second half of 2015.
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Venezuela blames saboteurs for deadly blast at refinery in 2012

Venezuela's oil minister, Rafael Ramirez, announced that the deadly blast at the state-run Amuay Refinery, which killed 42 people, was the result of sabotage.
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Omega Engineering opens new office in Singapore

Omega Engineering, Inc. is opening a new office in Singapore to coordinate its business throughout the Southeast Asia region, the company announced last week.
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Latin American refining sector struggling to capitalize on growing oil output

Latin America's oil production has been on the rise over the past few years but most economies in the region have had difficulties capitalizing on this development.
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British FSA reviews poultry campylobacter strategy

Figures released by the agency reveal that campylobacter is the most common cause of food poisoning in the U.K., affecting about 460,000 people each year.
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China increases paraxylene capacity

One of China's biggest refiners, Sinopec Shanghai Petrochemical, is planning to invest 20 billion yuan ($3.27 billion) in a new paraxylene project with a capacity of 1 million tons.
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Canada pressed to adopt mining operations transparency legislation

Legislation aiming to improve the transparency and traceability of funds paid by mining companies to local governments is already in force in the United States and the European Union, but Canada lagging behind in adopting similar legislation.
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