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Oil & Gas

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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EU working on tighter fracking regulation

The European Parliament supports an amendment to the EU's Environmental Impact Assessment Directive, which states that all operations for hydraulic fracturing for coal bed methane and for shale and shale-like formations should go through environmental impact assessments.
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New pipeline project to Trafigura's Gulf Coast terminal announced

Energy Transfer Partners has signed an agreement with Holland-based global commodity trading company Trafigura Beheer BV for the launch of a new crude and condensate pipeline running from the Eagle Ford shale formation in South Texas to Corpus Christi.
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China's plan for synthetic gas plants may threaten water resources

China is preparing a move to create synthetic natural gas plants, which convert coal to gas. However, operating these plants requires huge amounts of water and this could put some areas of the country under serious water stress.
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Global demand for pipeline materials to grow by 5.3% through 2017

A new report from research company Freedonia Group predicts that global demand for oil and gas pipeline materials will increase by 5.3% on an annual basis through 2017.
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Sabic plans US petrochemical investment

Saudi petrochemical giant Saudi Basic Industries Corp. recently announced plans to invest in a petrochemical project in the United States next year and tap into the U.S. shale energy abundance.
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Iran plans to boost petrochemical production

Iran should stop exporting large amounts of raw petrochemicals and look for ways to make more profit by selling added-value products, according to the leader of the parliamentary Petrochemical Committee.
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Taiwanese companies plan to invest in petrochemical complex in China

The Petrochemical Industry Association of Taiwan announced Monday that a group of eight Taiwanese companies is planning to invest in the construction of a large petrochemical complex in China.
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European refineries still facing major challenges

The future of Europe's refining sector continues to look bleak, as the industry seems unable to adapt to new market conditions and struggles to remain competitive with the United States and emerging markets like the Middle East and China.
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Mideast refineries shift focus in production

Refineries in the Middle East are facing serious challenges to remain competitive, struggling to reduce operating costs and to maximize production among other problems.
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