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Oil & Gas

US to surpass Saudi Arabia as global oil production leader

LONDON — The United States is likely to emerge as the world''s biggest oil producer by 2020, following a shale oil production surge that will allow it to surpass
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Chevron announces natural gas discovery off Australian coast

SAN RAMON, Calif. — Chevron Corp. announced its Australian subsidiary has made a natural gas discovery in the Greater Gorgon Area, located in the Carnarvon Basin, a premier hydrocarbon
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European butadiene market to remain strong thanks to emergence of US shale gas

NEW YORK — Despite waning local demand, the European butadiene market will remain strong thanks to export demands from overseas, according to a new report by industry research firm
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Prosep awarded $3 million in contacts for crude blending systems

MONTREAL — ProSep Inc., a provider of process solutions to the oil and gas industry, has been awarded contracts for the supply of three ProMix proprietary crude blending systems
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Petronas, LanzaTech to recycle carbon dioxide into sustainable chemicals

KUALA LUMPUR, Malaysia — Malaysia’s national oil company Petronas announced Monday a collaboration with New Zealand-based LanzaTech to accelerate the development and commercialization of technologies to produce sustainable chemicals
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ITT to acquire Bornemann Pumps

WHITE PLAINS, N.Y. — ITT Corp. has signed an agreement to acquire Joh. Heinr. Bornemann GmbH (Bornemann Pumps), a German manufacturer of pumps and systems for the oil and
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Ecolab acquires Champion Technologies for $2.2 billion

ST PAUL, Minn. — Ecolab Inc. has agreed to acquire Champion Technologies and its related company Corsicana Technologies in a transaction valued at approximately $2.2 billion. Champion is a
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Asia’s synthetic rubber sector expected to recover

NEW YORK — Asia’s weakened demand for synthetic rubbers, commonly used in tire production, is expected to recover following this year’s drop in car production, according to a new
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Braskem Idesa awards $2.7 billion contract for Mexican petrochemical complex

COATZACOALCOS, Mexico — Brakem Idesa, a joint venture between Brazilian petrochemical firm Braskem and Mexican group Idesa, has awarded a $2.7 billion contract to Odebrecht, Technip and ICA Fluor
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BP sells Texas City refinery to Marathon Petroleum

FINDLAY, Ohio — Marathon Petroleum Corp. (MPC) has agreed to buy BP’s Texas City refinery for $598 million, plus inventories estimated at $1.2 billion. The purchase includes refinery, three
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