Report: More firms line up for IPOs Nov 5, 2009
Three Houston companies are in the current IPO pipeline, including exploration and production company , petrochemical products manufacturer LLC and energy seismic firm. A fourth company, utilities and natural gas pipeline company AEI, withdrew its proposed offering in late October. (Houston Business Journal, TX)
Global warming Nov 4, 2009
It is one thing to say, as the appellate court did, that the plaintiffs satisfy the requirements to bring a suit on grounds of "public and private nuisance, trespass, and negligence." It will be quite another to prove in a court of law the causal link between greenhouse gas emissions produced by petrochemical companies operating in Mississippi, climate change, rising sea levels, and the consequent damage inflicted on Mississippi landowners by Hurricane Katrina ... " The appeals court ruled that... (Salon)
16 judges have investments in stocks Nov 4, 2009
Justice RM Lodha owns 200 equity shares of a refinery and petrochemical company. He also owns 2776 units of UT-MEPUS and UTI-Balanced Fund. (India Times)
Chart Announces Opening of JV Manufacturing Facility for Air Cooled Heat Exchangers in the Middle East Nov 3, 2009
The state-of-the-art, 85,000 square foot facility will manufacture air cooled heat exchangers to support the region's energy and petrochemical industries ... "Air cooled heat exchangers are required for various processes in the production and refining of oil, gas, and petrochemicals in the Middle East," stated Mike Durkin, President of Chart E&C. "Until now, this equipment and replacement parts had to be imported into the region," Durkin further stated. (Primezone Releases)
Kimball to make safety devices for Draeger Nov 3, 2009
Kimball Electronics, a division of , has signed an agreement with Draeger Safety, to make safety hazard detection units for the oil, gas and petrochemical industries. Financial terms of the agreement were not disclosed. (Louisville Business First, KY)
Survey: China manufacturing grows for eighth month Nov 1, 2009
The petrochemical industry received a boost Sunday from the Commerce Ministry, which imposed tariffs of up to 35. 4 percent on imports of adipic acid from the United States, European Union and South Korea to stop what the agency said was the dumping of the chemical at too low a cost on the Chinese market. (Fresno Bee -- Business)
Graham net income, sales drop in 2Q Oct 31, 2009
reported a sharp decline profits and sales in the second quarter, citing sustained weakness in the U.S. and international refining and petrochemical markets. Graham, a Batavia-based manufacturer of heat transfer technology, said net income fell 66. (Buffalo Business First, NY)
Nation's quarterly GDP rises 3.5 percent Oct 30, 2009
In its most recent assessment of the U.S. economy contained in its so-called Beige Book the Dallas Fed said activity levels are improving in the areas of high-tech, food, petrochemical manufacturing and staffing. Also from the BEA release. (Dallas Business Journal, TX)
Gas Leak From Puffin Field in Timor Sea Having `No Impact on Environment' Oct 30, 2009
Oct. 30 (Bloomberg) -- , China Petrochemical Corp.s partner in the Puffin venture in the Timor Sea off northwestern Australia, said a gas leak from the project is having no impact on the environment ... Sinopec Group, as Beijing-based China Petrochemical is known, last year paid A$600 million ($550 million) for a 60 percent stake in the venture. (Bloomberg -- Australia & New Zealand)
Fire safety ssues discussed at asphalt plant hearing Oct 30, 2009
The facility s foam wagon (providing automatic film forming foam used to fight petrochemical fires or spills is above and beyond the other two facilities we looked at. Adding that diesel storage is well planned, Parsons said, The plan is such that Westford Fire Department can respond well to a fire or spill at this site. (Westford Eagle, MA)
Italian women protest Berlusconi's sexist quips Oct 29, 2009
"Since he was a teenager, Mr. Berlusconi has had only one thing on his mind: sex. In his view, only sex sells. Over the last 20 or 25 years Italian TV has been invaded by the culture of the show girl," says Ms. Martini, a former manager in a petrochemical company. "Young girls see show girls as role models to become one ensures success because it can lead to a career as an actress or singer or a presenter. My 19-year-old daughter and her friends watch all this and they don't see it as trashy... (Christian Science Monitor -- World)
Brazil Opposition Senators Seek to Defeat Chavez, Lula in Mercosur Vote Oct 29, 2009
Braskem SA, Latin Americas biggest petrochemical producer, plans to build two plants in Venezuela. Uruguayan and Argentine lawmakers already approved Venezuelas membership in the treaty organization. (Bloomberg -- Latin America)
Rice University cuts deal to research graphene-infused drilling fluids Oct 28, 2009
Rice University and Houston-based M-I SWACO, the world's largest producer of drilling fluids for the petrochemical industry, have signed an agreement for research funds to develop a graphene additive that will improve the productivity of wells. The company will spend $450,000 over two years for research by the lab of James Tour, Rice's Chao Professor of Chemistry and professor of mechanical engineering and materials science and of computer science. (EurekAlert! -- Business News)
Nigeria: Oil Workers Union Threatens to Shut Key Refinery Oct 27, 2009
Warri Operations of the Warri Refinery and Petrochemical Company (WRPC) may be affected as from today if the National Union of Petroleum and Natural Gas Workers (NUPENG) make good its threat to shut down the company, following the management's lackadaisical attitude to the supposed poor conditions of service of its 2,000 members. Warri Zonal Chairman of NUPENG, Comrade Edmond Ofudje, told newsmen weekend that members of the union in the transport department of WRPC were being treated like slaves... (allAfrica.com)
Royalty on His Resum Oct 27, 2009
We are the largest provider of security for petrochemical refineries, says Burrell. The company also provides personal protection services, background screenings and security patrol services, but the bulk of revenue 75 percent to 80 percent comes from on-site security work. (Triangle Business Journal)
Pace of Canadian Oil, Natural-Gas Acquisitions to Pick Up, Waterous Says Oct 27, 2009
He named China Petrochemical Corp.s C$8. 3 billion ($7. (Bloomberg -- Canada)
Stock Picks: Netflix, Verizon, Shaw Group, KBR Oct 27, 2009
Bannister said in a note to clients said that when the company reports, his questions will focus on the timing of revenue from Shaw's nuclear plant construction projects, expansion of petrochemical work in the Middle East and other issues. Bannister lowered his rating on KBR on Oct. 26, saying that the military contractor's profit could decline significantly this year with the exit of U.S. troops from Iraq. (BusinessWeek)
Ghana: Citizens Must Realize Country's Navy's Worth Oct 26, 2009
Tullow Ghana Limited is to collaborate with the Ghana Navy to promote appropriate maritime environment conducive to the peaceful and profitable development of Ghana's petrochemical endowment. According to Head of Tullow Ghana Legal Department, Mr Tony Dzokoto, the Ghana Navy's maintenance of an ambience of maritime peace in the past should be viewed by Ghanaians as a key stimulus to the country's success in exploration, discovery and the development of oil. (allAfrica.com)
PMFG, Inc. (Parent of Peerless Mfg. Co.) Announces Departure of Charles G. Mogged, Vice President of Manufacturing and Supply Chain Management of Peerless Mfg. Co. Oct 24, 2009
We primarily serve the markets for power generation, natural gas infrastructure and petrochemical processing. Headquartered in Dallas, Texas, we market our systems and products worldwide. (Primezone Releases)
* The ECFA is based on unrealistic hypotheses Oct 24, 2009
As a result, Taiwanese petrochemical products would replace petrochemical products from South Korea and Japan, which accounted for 38 percent X US$38 billion X of the Chinese market in 2007, while Taiwanese mechanical products would replace corresponding products from South Korea and ASEAN countries, which accounted for 23 percent X US$27 billion X of the Chinese market ... Tariffs are not the only factor affecting product competitiveness, and petrochemical and mechanical products are not... (Taipei Times, Taiwan -- World)
Honeywell third-quarter profit fell but topped expectations Oct 24, 2009
Honeywell's specialty chemicals business said sales dropped 23 per cent due to lower volumes and raw material price declines which were partly offset by higher petrochemical sales and environmental initiatives. AP. (Sydney Morning Herald -- Business)
The slow, but essential work of tug boats Oct 23, 2009
This area includes some 250 petrochemical plants. The port primarily serves petrochemical manufacturers and agricultural chemical shippers. (Port Lavaca Wave, TX)
EGoM to consider allocation of gas Oct 23, 2009
NEW DELHI: An Empowered Group of Ministers headed by FM Pranab Mukherjee will meet shortly to decide on allocation of natural gas produced by RIL to users in power, petrochemical and refinery sectors ... EGoM headed by FM Pranab Mukherjee will meet shortly to decide on allocation of natural gas produced by RIL to users in power, petrochemical and refinery sectors. (India Times, India -- Intl Business)
Beige Book reports some stabilization Oct 23, 2009
In its Beige Book report, the Dallas Fed said activity levels are improving in the areas of high-tech, food, petrochemical manufacturing and staffing. However, the labor market remains weak and most contacts are still uncertain of the timing of a full recovery, even though they are seeing some bottoming out of activity, the report said. (Houston Business Journal, TX)
Iran Keeps Obama Waiting on Nuclear Deal Oct 22, 2009
Iran's President Mahmoud Ahmadinejad (left) and his Venezuelan counterpart Hugo Chavez (right) attend a ceremony to open the Borzouyeh petrochemical complex in Asalouyeh Seaport, Iran. Miraflores Palace / Reuters. (Time.com)
Dallas Fed sees some stabilization Oct 22, 2009
In its most recent assessment of the U.S. economy contained in its so-called Beige Book the Dallas Fed said activity levels are improving in the areas of high-tech, food, petrochemical manufacturing and staffing. However, the labor market remains weak and most contacts are still uncertain of the timing of a full recovery, even though they are seeing some bottoming out activity, the report said. (Dallas Business Journal, TX)
RIL paying $9 for buying spot LNG Oct 21, 2009
RIL buys about 10 million standard cubic meters per day of regassified-LNG from Petronet LNG Ltd and Royal Dutch/Shell - the nation's only two LNG importers, for use in its refineries and petrochemical plants. "We need about 15 mmscmd (of gas). We get some gas from Panna/Mukta and Tapti fields (in western offshore) and the rest has to be met from spot LNG purchase," he said. (India Times)
* Committee proposes new energy, emissions taxes Oct 20, 2009
Taipower is followed by China Steel Corp (), China Petrochemical Development Corp () and CPC Corp, Taiwan (CPC, xWo), which produces 15. 15 percent, 9. (Taipei Times, Taiwan)
Earnings leap at Saudi Sabic Oct 19, 2009
The offices of Saudi petrochemicals giant Sabic in the Saudi capital Riyadh. Saudi petrochemicals giant Sabic said Sunday it doubled earnings in the third quarter against the previous period as the global economy bottomed out and its product prices surged on higher oil prices ... RIYADH (AFP) - Saudi petrochemicals giant Sabic said Sunday it doubled earnings in the third quarter against the previous period as the global economy bottomed out and its product prices surged on higher oil prices. (Yahoo! Asia News)
Energy, Coking Coal, Live-Hogs May Help Dalian Boost Futures Volume, Role Oct 15, 2009
The Dalian exchange is studying coking coal, crude oil, electricity, petrochemical products and live-hog futures, according to a statement. It will allow a fair amount of speculation to ensure fluidity of the market, Liu said. (Bloomberg -- Asia)
OPEC upgrades forecasts for world oil demand Oct 14, 2009
Most of the demand would be seen in the industrial, transport and petrochemical sectors. "In addition to the world economy, the main factors that might play an important role in next year's oil demand are oil prices, taxes and the removal of price subsidies," OPEC said. (Sydney Morning Herald -- Business)
Harsco Expands Its Services to UK Industrial Sector With New Acquisition Oct 13, 2009
Oct. 12, 2009 (GLOBE NEWSWIRE) -- Worldwide industrial services company Harsco Corporation (NYSE: - ) announced today its acquisition of Nicol UK Ltd., a multi-disciplined provider of industrial insulation services, site services, and scaffolding to major petrochemical, energy and industrial clients throughout the UK. Terms were not disclosed. Related Quotes. (Primezone Releases)
LG Chem Posts Record Net, Beating Estimates, on Raw-Material Costs, China Oct 13, 2009
Profit has climbed for three straight quarters as the cost of naphtha, an ingredient in petrochemicals, declined while demand from China increased, spurred by the countrys $586 billion stimulus spending ... LG Chem benefited from increased petrochemical demand from China, South Koreas largest market, backed by Beijings stimulus package, said Choi Ju Hwan, an analyst at NH Investment & Securities Co. Its an extension of the story in the second quarter, Choi said ...... (Bloomberg -- Asia)
South Korea May Target 4% Cut in Emissions, Overriding Industry Objections Oct 13, 2009
Most companies want the government to choose the first option or a lower target because a deeper target will place a big burden on industries including steel, petrochemical and oil refining, said Park Tae Jin, head of the Korea Chamber of Commerce & Industrys sustainable business institute. Almost 70 percent of companies surveyed by the chamber, which represents 45,000 businesses and groups, preferred the lowest emission cut target, Park said. (Bloomberg -- Asia)
2 B-CU students honored as standouts Oct 12, 2009
As a union leader in the petrochemical industry, Ringo saw the impact of pollutants on the health of friends, family and community members. His talk is titled, "The Green Economy: America's New Frontier.". (Daytona Beach News Journal)
Taiwan, China to hold informal trade talks next week Oct 12, 2009
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Good-paying jobs are state's best resource Oct 11, 2009
Third, Alaskans can get really carried away by either hype or feel good projects as in the once proposed Alpetco petrochemical plant and the short-lived Delta barley project. Finally, Alaska's leaders can prepare for the possibility that the oil and gas cow will dry up and cannot be freshened. (Anchorage Daily News)
Sumitomo Chemical Participates in the Industrial Collaboration Program of Saudi Arabia's King Abdullah University of Science and Technology Oct 10, 2009
Sumitomo Chemical, in partnership with the Saudi Arabian Oil Company (Saudi Aramco), has built one of the world's largest integrated refining and petrochemical complexes in Rabigh on the coast of the Red Sea, a complex that recently began operation ... Sumitomo Chemical Co. Limited (TSE:4005) is one of Japan's leading chemical companies, offering a diverse range of products in the fields of basic chemicals, petrochemicals, fine chemicals, IT-related chemicals, agricultural chemicals, and... (JCN Network, Japan)
Indian government retains Deloitte Touche Tohmatsu to assist in global auction for fertilizer assets Oct 10, 2009
Interested parties with whom informal talks have been held include overseas and domestic companies in the chemical, fertilizer, petrochemical and mining space, said the source. US-based Mosaic and privately-held German-based Helm were previously mentioned as potential bidders, as reported. (FT.com -- Markets)
Plastic bags and the rise of the eco-terrorist Oct 8, 2009
Before accepting a poison petrochemical pouch, you must qualify your evil. You should say, "Well, as I've left my renewable Hessian 'Act Local, Think Global' shopping bag in the bio-fuel tractor back at the organic avocado collective from which I recently cycled with my pals at Critical Mass, I guess I'll have to say yes." You might want to add, "I really like dolphins, you know". (Sydney Morning Herald -- Opinion)
Reliance rallies on bonus plan Oct 8, 2009
Still, lower refining and petrochemical margins could offset higher production and lead to a "weak" performance for the company during the September quarter, brokerage CLSA said in its earnings preview published earlier this month. Reliance is yet to give a date for its quarterly results. (India Times)
A Threat to Global Recovery: Too Many Factories Oct 7, 2009
Although China's economy is growing relatively strongly, the government is so concerned about excess capacity that it recently banned investments in aluminum production and imposed stiffer conditions on new projects in the steel, coal and petrochemical sectors. Without such controls, "it will be hard to prevent vicious market competition and increase economic benefits, and this could result in facility closures, layoffs and increases in banks' bad assets," a government statement said. (Time.com)
Hidden Diversity In Key Environmental Cleanup Microbes Found By Systems Biology Assessment Oct 6, 2009
(June 15, 2009) Bioremediation of industrial sites and petrochemical spillages often involves finding microbes that can gorge themselves on the toxic chemicals. This leaves behind a non-toxic residue or mineralized. (Science Daily)
Click to read:Unemployment Figures Cloud Recovery Hopes Oct 4, 2009
Piping designer jobs are in the grassroots of new projects in construction; refinery, nuclear, chemical, petrochemical, pulp and paper. That's what I go by. (CBS News)
* CPC, Formosa cut gasoline, diesel prices Oct 3, 2009
Smaller rival Formosa Petrochemical Corp (x) also announced that it would cut fuel prices to match CPCs, effective today. Formosa Petrochemical added that it was maintaining its favorable rates in 21 townships seriously devastated by Morakot, with discounts of NT$3. (Taipei Times, Taiwan -- World Business)
* [BUSINESS BRIEFS] Oct 2, 2009
Formosa Petrochemical Corp (x), the nations only publicly traded oil refiner, shut a crude distillation unit and a fuel oil plant yesterday for maintenance ... Formosa Petrochemical expects crude processing to fall to 430,000 barrels a day in the fourth quarter from about 490,000 barrels in the previous three month because of the stoppage, Lin said. (Taipei Times, Taiwan -- Business)
Ghana: Trinidad And Tobago Shows Interest in Ghana's Oil And Gas Industry Oct 2, 2009
The delegation, having visited the Akosombo dam over the weekend, on Monday met Ghana's two deputy Ministers of Energy, Emmanuel Kofi Armah-Buah and Dr. Kwabena Donkor, in Accra to officially announce their interest in the West African state's emerging oil and gas industry, particularly, its petrochemical sector. The delegates were drawn from various private companies, which have high experiences in the areas of formulating strategies, regulatory framework and policies that have seen Trinidad... (allAfrica.com)
EPA moves to regulate smokestack greenhouse gases Oct 1, 2009
"This proposal incorrectly assumes that one industry's greenhouse gas emissions are worse than another's," said Charles T. Drevna, president of the National Petrochemical and Refiners Association. Jeff Holmstead, a former top EPA air pollution official who is now a lobbyist for the energy industry, said the agency was trying to "fit a square peg into a round hole.". (Albany Times Union)
Pebble Rain: Exoplanet Has Bizarre Atmosphere Oct 1, 2009
The atmosphere works the same way as fractionating columns, the tall knobby columns that make petrochemical plants recognizable from afar. In a fractionating column, crude oil is boiled and its components condense out on a series of trays, with the heaviest one (with the highest boiling point) sulking at the bottom, and the lightest (and most volatile) rising to the top. (Science Daily)
EPA rule aims to cut facilities' emissions Oct 1, 2009
Charles Drevna, head of the National Petrochemical & Refiners Association, said his group may sue the EPA. The proposal would make the nation "much less energy secure," he said. Posted. (USA Today)
Refinery study should add to what we know Sep 30, 2009
The AP stated Charlie Drevna, president of the National Petrochemical and Refiners Association in Washington, D.C., said economic and political hurdles are huge. A brand new refinery hasnt been built in the U.S. since 1976, Drevna told the AP.. (Williston Daily Herald, ND)
Land reclamation completed for Jurong Island Sep 26, 2009
It was about helping chemical companies save costs by capitalising on vertical and horizontal linkages - upstream plants supplying feedstock to downstream manufacturers, sharing common facilities," said Mr Lim. Ninety-five leading energy and chemical companies have invested more than S 31 billion in fixed assets on Jurong Island. JTC Corporation, the island's industrial landlord, said the eastern part of the island is now fully occupied, but plots remain for investors on the western side. JTC... (Channelnewsasia.com)
Hot Microbes Cause Groundwater Cleanup Rethink Sep 25, 2009
5, 2009) Micro-organisms occurring naturally in coastal mudflats have an essential role to play in cleaning up pollution by breaking down petrochemical residues. Research reveals essential differences in the. (Science Daily)
Marubeni Wins Contract for Construction of Combined Heat and Power Plant from IRPC in Thailand Sep 25, 2009
Tokyo, Sept 25, 2009 (JCN) - Marubeni has been awarded a contract for construction of a Combined Heat and Power (CHP) plant from IRPC Public Company Limited, a petroleum refinery and petrochemical manufacturer belonging to the PTT group, the largest energy company group in Thailand ... IRPC is the owner of the South East Asia's largest integrated petrochemical complex in Rayong province of Thailand, and plans to further invest 1 ... The electricity and steam generated by the CHP plant will... (JCN Network, Japan)
Brazil's Lula Defends Iran's Ahmadinejad, Plans Visit to Tehran Next Year Sep 24, 2009
Iran has also promised investments in the energy and petrochemical industries of Chavezs allies Ecuador and Bolivia. U.S. Representative , a New York Democrat who chairs the subcommittee overseeing relations with Latin America, said he regretted Lulas embrace of Iran, which makes it harder for him promote closer U.S. ties to Brazil. (Bloomberg -- Latin America)
Exxon Mobil Plans Chemicals Expansion in Bet Chinese Demand Will Increase Sep 23, 2009
More than half of the worlds petrochemical growth is going to be in China, so theres definitely room for more facilities to be built out there. . (Bloomberg)
Oil Refineries Seeking to Complete Merger of Company With Carmel Olefins by Year End 2009 Sep 23, 2009
HAIFA, Israel, September 23 /PRNewswire-FirstCall/ -- Oil Refineries Ltd. (TASE: ORL.TA) (the "Company" or "ORL"), Israel's largest oil refiner, announced today that following the Company's announcement of January 1, 2009 relating to the merger transaction between the Company and Carmel Olefins ltd. (CAOL), in which the Company holds 50%, the Company is pleased to announce that together with Israel Petrochemical Enterprises Ltd. (IPE), which holds the balance of shares in CAOL, the parties are... (PR Newswire)
Sagittarius Enters Into Letter of Intent for Qualifying Transaction Sep 23, 2009
5 - 20mm), which are mainly used in petrochemical, machinery, shipbuilding and power station industries. Seamless has approximately 300 staff, including 18 engineering technicians and 12 managerial personnel. (CCNMatthews Press Releases)
EXCLUSIVE: Sanctions Buster Hand-Picked by Iran Sep 23, 2009
In June 2007, Amirnazmi wrote to Ahmadinejad again, thanking him for helping the plan along: "You were kind to facilitate my trip to Iran on June 8, 2007 in order to meet with the National Petrochemical Company and the Technology Cooperation Office of the President.". The following September, in 2007, Ahmadinejad returned to New York to speak again at the U.N. General Assembly. (Fox News)
S.F. takes green issue to dry cleaners Sep 20, 2009
Some petrochemical companies are marketing their product as an environmentally friendly alternative to unsuspecting dry cleaners, he charged. Truth-in-advertising law. (San Francisco Chronicle)
* Animal rights campaigners cook up a meat-free Monday xWg@Y EG@}] Sep 19, 2009
Su points out that, according to statistics compiled by the UN Food and Agriculture Organization in 2006, livestock production, not humans, is the biggest producer of carbon dioxide, as it accounts for 18 percent of greenhouse gas emissions X a bigger share than the petrochemical industry, cars, and motorcycles, which were mistakenly thought to be the major causes in the past ... Transforming the petrochemical industry will be even more difficult. (Taipei Times, Taiwan -- World Business)
PRESS DIGEST - Financial Times - Sept 19 Sep 19, 2009
The GMB and Unite unions will instruct their members to accept a two-year pay and conditions deal in a move that could signal the end of unofficial walkouts by staff at power station and petrochemical sites. The disputes centred on suggestions that local workers were being passed over for jobs in favour of foreign labour in a bid to undercut terms and conditions. (Scientific American)
PotashCorp Reduces 2009 Earnings Guidance Sep 19, 2009
Several factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to: fluctuations in supply and demand in fertilizer, sulfur, transportation and petrochemical markets; changes in competitive pressures, including pricing pressures; the current global financial crisis and conditions and changes in credit markets; the results of negotiations with China and India; timing and amount of capital expenditures; risks associated with... (PR Newswire)
Full Story » Sep 18, 2009
Richard Hilyard, president of Q.Pro, said "SCI has been in the mechanical integrity and inspection business since 1996 and has an outstanding reputation and service quality record here in the Gulf Coast refining and petrochemical markets, including an impressive list of blue chip clients. SCI fills an important role in our service offerings, which will allow us to further expand and compliment our mechanical integrity and asset management business, and provides us with the ideal platform to... (Yahoo News -- Press Releases)
Hope for Home Builders? Sep 18, 2009
But the economy also has gotten a boost from the petrochemical industry as well as large projects such as the new nuclear power fabrication facility now under construction. Builders in Fayetteville (N.C.) metro, home of the U.S. Army's Fort Bragg, are preparing for a flood of new residents arriving as part of the Base Realignment and Closure program. (BusinessWeek)
