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Oil & Gas

GE reorganizes Energy business

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FAIRFIELD, Conn. — GE announced July 20 that it will reorganize its Energy business into three standalone businesses effective in the fourth quarter of 2012. The Energy headquarters organizational
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Report analyzes India’s booming polymers industry

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LONDON — According to a new report by business analysts GlobalData, India is currently the world’s third largest consumer of polymers, behind China and the U.S., with a share
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Joint venture established to build new petrochemical complex in Oman

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MUSCAT, Oman — Oman Oil Company (OOC) and the International Petroleum Investment Company (IPIC) announced the formation of a joint venture, Duqm Refinery and Petrochemical Industries LLC, to own
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Canola oil supplier to increase processing capacity by 25%

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WINNIPEG, Canada — Richardson Oilseed Limited is increasing crushing capacity at its canola processing plant in Yorkton, Saskatchewan, by 25% due to growing demand for Canadian canola and canola
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Aither Chemicals launches ‘Open Season’ for ethylene

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SOUTH CHARLESTON, W.Va. — Aither Chemicals LLC has signed a Memorandum of Understanding (MOU) to launch an “Open Season” for ethylene from a potential catalytic ethane cracker in the
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Depth Compensator for Offshore Drilling Applications

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Tobul’s SEAsure™ depth compensator is specifically designed for offshore drilling and production applications that demand high strength performance and resistance to seawater. The SEAsure™ depth compensator utilizes undersea pressure
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Financing approved for largest petrochemical complex in Americas

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VERACRUZ, Mexico — Braskem Idesa, a joint venture between Brazil’s Braskem SA and Mexico-based Grupo Idesa, has received approval of a line of credit in the amount of $700
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Value of polyurethane to rise, report predicts

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NEW YORK — The global market value of polyurethane will rise in the coming years, with thermal insulation potentially becoming a key material application, predicts a new report by
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Formosa restarts largest naphtha cracker

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TAIWAN — Formosa Petrochemical Corp. has restarted the largest of its three naphtha crackers after a two-week shutdown, Fox Business reported. The 1.2-million-metric-ton-a-year naphtha cracker began operations Friday at
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Chevron Phillips studies petrochemical project in Iraq

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BAGHDAD — Chevron Phillips Chemical Co. signed a letter of intent to evaluate the feasibility of developing a petrochemical plant in Iraq, Bloomberg reported. The company, a joint venture of
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