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Oil & Gas

Global crude oil demand to increase in 2014

This rise in consumption is attributed to demand from countries outside of the Organization for Economic Cooperation and Development, led by China.
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Colombia's petrochemical sector sees poor output performance in 2013

Colombian market conditions are expected to improve in 2014, leading to growth in industrial production and better performance of petrochemicals-consuming sectors.
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Global petrochemical market to grow by 6.7% through 2018

China is anticipated to retain its position as a world leader though 2018, as demand for petrochemicals will continue to grow faster than in other parts of the world.
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Colombia's Ecopetrol to invest $10.6 billion in 2014

The investment will be used to add more crude oil reserves to the company's portfolio and to fund the drilling of 20 new exploratory wells, most of which will be located onshore.
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Middle East to dominate new natural gas-processing capacity through 2017

The Middle East is set to outpace Europe and Africa in adding new capacity provided that Iran's industry is not stifled by international sanctions.
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Brazil to increase plastics production in 2014

The Brazilian plastics market is expected to become more favorable and profitable to local plastics producers.
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Mexico may allow private companies to extract oil

The proposal to amend Mexico's constitution and allow private investors access to the country's oilfields comes from members of the two largest political parties.
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Ineos to import US ethane for Grangemouth facility

The Grangemouth chemical plant in Scotland may go from huge losses to instant profitability thanks to the saving plan drawn up by Swiss-based international operator Ineos Group Ltd.
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UK oil industry reports highest amount of oil spilled in decade

Last year 246 oil spills were reported in the UK, with the total amount of oil released in these spills reaching 86 tons.
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Brazilian petrochemical companies urge for measures to revive sector

Brazil's petrochemical industry leaders are calling on the government to provide businesses with an incentive package that will promote investment and is asking for a lower natural gas price, so that it can have an access to cheaper domestic feedstock.
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