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Oil & Gas

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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US refiners to ramp up diesel exports to Europe

The recent boom in oil and gas production in the United States has caused a significant rise in production, prompting U.S. companies to look to international markets.
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Sinopec pipeline blast kills at least 35 in eastern China

An eastern Chinese pipeline operated by Sinopec Corp exploded Friday, killing at least 35 people and injuring 166 more.
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Honeywell to modernize one of Europe's largest refineries

Preem AB, Sweden's largest oil producer, will use Honeywell's enhanced high-performance process manager to as much as triple the capacity of the refinery’s existing controllers.
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Asian fuel supply to outpace demand by 2018

As the largest refineries in China and India continue to keep supply well ahead of demand for fuel across Asian markets, many refineries will have to work at a reduced capacity over the next five years.
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Chevron facing $9.5 billion penalty for oil contamination in Amazon

The penalty that Chevron Corporation will have to pay in the case concerning oil contamination in the Amazon has been cut by half by Ecuador's highest court, which upheld the verdict but reduced the fine to $9.5 billion.
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