News Archive for Petrochemical News

Saratov Oil Refinery Will Increase Its Refining Capacity by 7.7% in 2009 After Its Overhaul and Upgrade

Friday, Jan 30, 2009

TNK-BP will overhaul and upgrade the Saratov Oil Refinery in 2009 and increase its refining capacity by 7.7% up to 7 million tons a year, said Pavel Ipatov, Governor of the Saratov Region, after a meeting with Gernam Khan, Executive Director of TNK-BP.
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Wave Power Machine Offers Green Energy Answer

Friday, Jan 30, 2009

A pioneering wave power device that could provide a major breakthrough in the drive to hit sustainable energy targets is a step closer to commercial use after tests proved the system is highly effective.
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Aberdeen Windfarm in Line for 40 Million Euros of European Funding

Friday, Jan 30, 2009

Plans for Aberdeen’s proposed offshore windfarm received a huge boost today with the news that the European Commission is considering investing 40 million Euros in the project.
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PHA Commission Approves $4.5 Million to Fund Final Design Work for Bayport Container Terminal Gate Expansion

Friday, Jan 30, 2009

HOUSTON, Jan. 29, 2009 (GLOBE NEWSWIRE) — The Port Commission of The Port of Houston Authority (PHA) authorized $4.5 million for the final design component of a professional services contract with Klotz Associates for the Bayport Container Terminal gate expansion and approved amending an agreement with TxDOT/Harris County for a $1.08 million project to widen Main St. in Galena Park at its regular Jan. 27 meeting.
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Proposal to appoint new member of the Supervisory Board of Fugro N.V.

Friday, Jan 30, 2009

The Supervisory Board of Fugro N.V. proposes to recommend to the Annual General Meeting of Shareholders of Fugro N.V., which takes place on 7 May 2009, the appointment of Mrs. Marion Helmes as a member of the Supervisory Board. Mrs. Helmes will succeed Mr. P.J. Crawford who will step down from the Supervisory Board having reached the maximum period of three terms of four years.
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Chevron Announces $22.8 Billion Capital and Exploratory Budget for 2009

Friday, Jan 30, 2009

  • Upstream spending estimated at $17.5 billion, reflecting an excellent queue of crude oil and natural gas projects
  • Downstream budget of $4.3 billion includes outlays for a continued focus on reliability and flexibility of U.S. refineries

SAN RAMON, Calif., Jan. 29, 2009 – Chevron Corporation (NYSE: CVX) today announced a $22.8 billion capital and exploratory spending program for 2009, unchanged from the level of expenditures in 2008. Included in the 2009 program are $1.8 billion of expenditures by affiliates, which do not require cash outlays by Chevron’s consolidated companies.
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Subsea 7 Provide Financial Calendar Update – Forth Quarter 2008 Results

Thursday, Jan 29, 2009

Subsea 7 Inc. will release its fourth quarter and preliminary year end results for 2008 on Tuesday 3 February 2009.  A copy of the earnings release and presentation will be available on the Oslo Stock Exchange (ticker code: SUB) and on the Subsea 7 Inc. website www.subsea7.com from 0900 hours Central European Time (CET) on 3 February 2009.

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Cecon finalizes engineering of new pipelay system

Thursday, Jan 29, 2009

Cecon has finalized the detail engineering of the Pipe Lay Ramp for one of the most versatile systems in the industry. Flexible pipes and rigid pipe will be deployed through the same pipe lay ramp. 
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SABIC Innovative Plastics Completes Portfolio of Valox* SHF Resins, Enabling Electrical & Automotive Part Manufacturers to Go with the Flow

Thursday, Jan 29, 2009

Today electrical/electronic part designers are pulling their hair trying to shoehorn more functionality into ever-smaller spaces and reduce system costs. One way to do both is to relax and go with the flow. Super High Flow resins enable thinner-wall parts that accommodate more capabilities. They also speed up processing and cut costs while maintaining good mechanical and heat performances. SABIC Innovative Plastics has raised the bar with a complete portfolio of glass filled Super High Flow Valox* SHF resins offering twice the flow length of standard glass filled polybutylene terephthalate (PBT). With this comprehensive PBT product family, electrical and automotive part manufacturers have many choices when molding thin-wall parts such as connectors and excess voltage cut-off switches.
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DuPont Enters 2009 with Strong Cash Position; Drives Productivity and Cash-Generating Actions

Thursday, Jan 29, 2009

Highlights

In a challenging environment, DuPont ended 2008 with a strong balance sheet, delivering solid cash performance of $1.1 billion free cash flow, in line with company targets.
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Lundin Mining Announces Receipt of Final Order

Thursday, Jan 29, 2009

Lundin Mining Corporation (TSX: LUN; OMX: LUMI; NYSE: LMC) (“Lundin Mining” or the “Company”) today announced that the Ontario Superior Court of Justice (Commercial List) has issued its final order approving the plan of arrangement under the Canada Business Corporations Act pursuant to which HudBay Minerals Inc. (“HudBay”) will acquire all of the issued and outstanding common shares of Lundin Mining. As a result of the arrangement, shareholders of Lundin Mining will receive 0.3919 of a common share of HudBay for each common share of Lundin Mining.
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Rio Tinto Announces Coal & Allied – 2008 annual results

Thursday, Jan 29, 2009

Coal & Allied reports record financial resultsSUMMARY

  • Revenue was $2,665 million, up 94 per cent compared with $1,375 million for 2007
  • Profit after tax was a record $804 million compared with $110 million in 2007
  • Final dividend of 550 cents per share fully franked

Commenting on the full year results, Coal & Allied’s Managing Director Bill Champion said: “Coal & Allied’s profit in 2008 was an outstanding result. Profit after tax was $804 million, which was 632 per cent higher than 2007. During the year we changed our sales mix to maximise revenue from record semi soft coking coal prices, with semi soft coking coal production being 37 per cent higher than 2007.  Thermal coal prices were also at record levels in 2008 and the company benefited from a weaker Australian dollar in the second half of the year.”

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Xstrata Preliminary Results Announcement

Thursday, Jan 29, 2009

Zug, 29 January 2009

In conjunction with today’s announcement of a Rights Issue and acquisition of Prodeco, Xstrata plc has accelerated the publication of its preliminary annual results for the year ended 31 December 2008.
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Boeing Part of Development Team for US Air Force F-16 Training Program

Thursday, Jan 29, 2009

Boeing [NYSE: BA] today announced that it will assist in the development of the U.S. Air Force F-16 Mission Training Center (MTC) program as part of a team led by L-3 Link Simulation & Training (L-3 Link). The Aeronautical Systems Center’s Simulator Systems Group at Wright-Patterson Air Force Base, Ohio, awarded L-3 Link a $68.2 million contract for the program in December 2008.”This program supports our growth strategy of capturing contracts for non-Boeing platforms, expands our F-16 business base to allow expansion to markets outside the United States, and supports our position as a leader in the Distributed Mission Operations [DMO] market,” said Mark McGraw, vice president of Training Systems & Services, a division of Boeing Integrated Defense Systems Global Services & Support.
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Sky Announces Interim Results For The Six Months Ended 31 December 2008

Thursday, Jan 29, 2009

Sky have announced their Interim Results for the six months ended 31 December 2008.  Please use the link below to download the full results press release:

Download press release

For more Sky press releases go to www.yourcommunicationnews.com

ConocoPhillips Reports Fourth-Quarter Net Loss of $31.8 Billion

Thursday, Jan 29, 2009

$21.37 per share

Adjusted earnings of $1.9 billion or $1.28 per share

HOUSTON, January 28, 2009 – ConocoPhillips [NYSE:COP] today reported a fourth-quarter net loss of $31,764 million, or $21.37 per share. This compared with net income of $4,371 million, or $2.71 per share, for the same quarter in 2007. Revenues were $44.5 billion, versus $52.7 billion a year ago.
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Shell Provides fourth quarter and full year 2008 results and interim dividend announcement

Thursday, Jan 29, 2009

At 07.00 GMT (08.00 CET and 02.00 EST) on Thursday 29 January, 2009 Royal Dutch Shell plc released its fourth quarter and full year results and fourth quarter interim dividend announcement for 2008.
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BASF and Cibus achieve development milestone in CLEARFIELD® Production System

Wednesday, Jan 28, 2009

Enhanced herbicide tolerance in new CLEARFIELD® trait proven in greenhouse and field trials.

  • Results confirm new technological paradigm for developing valuable traits in plants.
  • BASF to enhance the value of CLEARFIELD Production System traits for oilseed rape / canola with Cibus’ RTDSTM   (Rapid Trait Development System).Ludwigshafen, Germany and San Diego, USA (January 27, 2009) – BASF SE, the world’s leading chemical company, and Cibus, a leading plant trait development technology company, today announced that they have reached a significant research milestone for developing CLEARFIELD Production System plants in Brassica winter oilseed rape and in spring canola. Cibus’ patented Rapid Trait Development System ( RTDSTM) was used to enhance the tolerance levels of spring canola plants to BASF’s popular CLEARFIELD herbicides. Data from both greenhouse and field trials show that the new generation of products demonstrates enhanced tolerance levels to CLEARFIELD herbicides. Additionally, the new and improved CLEARFIELD traits will enable canola breeders to develop high yielding hybrids more quickly with greater efficiencies.  
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  • Delaware Court of Chancery Grants Rohm and Haas’s Request for Expedited Hearing in Litigation with the Dow Chemical Company

    Wednesday, Jan 28, 2009

    Rohm and Haas Company (NYSE:ROH) has announced that the Court of Chancery of the State of Delaware granted Rohm and Haas’s request for expedited proceedings in the case of Rohm and Haas Co. v. The Dow Chemical Co. (NYSE:DOW), et al. The trial on Rohm and Haas’s complaint for an order requiring Dow to close its merger with Rohm and Haas is now scheduled to commence on March 9, 2009, in Georgetown, Delaware, and is scheduled to be concluded that week.
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    RWE Innogy and Daldrup & Söhne are setting up a joint venture for the development of geothermal power station projects

    Wednesday, Jan 28, 2009

    RWE Innogy has set up a joint venture with Daldrup & Söhne AG in Ascheberg today. Its purpose is to develop, plan and construct a range of geothermal power stations. Daldrup & Söhne is a publicly traded company that specialises in planning and conducting geothermal drillings. The first step of the joint venture will be to develop RWE Innogy’s existing deep geothermal drilling areas – for which permits have already been obtained – and to apply for further permits. However, plans are also in place to participate in geothermal and project development companies in Germany and other European countries. The joint venture has been set up on the proviso that it will be approved by the German antitrust authority, Bundeskartellamt.
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