News Archive for Petrochemical News

BASF posts solid earnings in a difficult business environment

Friday, Feb 27, 2009

  • Full year 2008: Sales plus 8 percent, income from operations before special items minus
    10 percent
  • Significant decline in global economy impairs fourth-quarter earnings
  • Restructuring and efficiency programs accelerated
  • Outlook 2009: BASF expects a decline in sales compared with 2008 and an even greater decline in income from operations
    Ambitious goals to earn cost of capital and keep dividend stable
    Ludwigshafen, Germany – February 26, 2009 – BASF – The Chemical Company – is acting quickly and decisively to combat the effects of the global economic crisis:
  • Read more…

    RF Glavgosekspertiza Approved Yuzhno-Priobsky Gas Processing Plant Project

    Friday, Feb 27, 2009

    Federal Institution, Central State Expertise Department approved the project documentation for Yuzhno-Priobsky gas processing plant and pipeline to be constructed for the production and transportation of residue gas to the gas transportation system.The project stakeholders made a decision to start the pipeline construction in the nearest future. Until Yuzhno-Priobsky gas processing plant comes onstream the pipeline with the length of 6.9 km will be used in the reversing mode to supply gas from the gas transportation system to Yuzhno-Priobskaya GTPP that is being constructed at the moment by Gazpromneft-Khantos LLC.
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    Gazprom inaugurates Research Center for Reservoir Systems and first phase of corporate core storage facility

    Friday, Feb 27, 2009

    The settlement of Razvilka, Moscow Oblast saw the inauguration of the Research Center for Reservoir Systems and the first phase of the corporate core storage facility located on the territory of the Experimental and Prototype Base of VNIIGAZ.
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    Air Products strikes gold

    Friday, Feb 27, 2009

    Air Products announced today that it signed a contract to build an Air Separation Unit (ASU) to Lihir Gold Ltd, in Papua New Guinea. The plant is situated 900km from Port Moresby, capital of Papua New Guinea.The ASU will produce 1,700 tonnes per day of oxygen, almost doubling the total oxygen production on the island. The oxygen is used to oxidise the ore extracted from the mine, converting sulphide minerals to sulphates to improve the recovery of gold in downstream processing.
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    JFE Steel and Rasselstein Reach Technical Cooperation Agreement

    Friday, Feb 27, 2009

    JFE Steel Corporation and Rasselstein GmbH in Andernach, a subsidiary of ThyssenKrupp Steel AG and Germany’s sole manufacturer of tinplate, have signed a Cooperation Agreement regarding steel used for cans and other packaging.
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    Future Combat Systems Program Completes Integrated Mission Test-1

    Friday, Feb 27, 2009

    Boeing [NYSE: BA] and Science Applications International Corp. [NYSE: SAI], together the Lead Systems Integrator for the U.S. Army’s Future Combat Systems (FCS) program, have successfully completed Integrated Mission Test-1 (IMT-1), verifying that the integration of FCS systems and Battle Command software is proceeding as planned.The test, conducted in January at the FCS Common Control Node at White Sands Missile Range, N.M., caps more than two years of software development, integration and testing involving nearly every FCS Integrated Product Team and One Team Partner, as well as soldiers from the Army Evaluation Task Force (AETF) at Fort Bliss, Texas. The AETF is evaluating and testing FCS capabilities for incremental fielding and the development of full FCS Brigade Combat Teams.
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    Lockheed Martin Unveils Exoskeleton Technology at AUSA Winter Symposium

    Friday, Feb 27, 2009

    Lockheed Martin [NYSE: LMT] debuted an advanced robotic exoskeleton designed to augment Soldiers’ strength and endurance and prevent their premature fatigue.
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    Neptune well placed following record $15.6m profit result

    Friday, Feb 27, 2009

    Revenue: $95 million (1H08: $31.7m)

    • Reported net profit after tax: $12.9m (1H08: $0.8m; 2H08: $6.6m)
    • Normalised NPAT: $15.6m (1H08: $2.2m; 2H08: $8.1m)
    • EBITDA: $24.1m
    • Operating cashflow strong at $6.4m
    • Well funded and low gearing with net debt/equity of 17.2%
    • Completed acquisition of Access Management (WA) Pty Ltd
    • Completed purchase of 70.05m Neptune Trident offshore support vessel
    • Signed LOI for the acquisition of Subsea Engineering Services (completed 9/1/09)
    • Continues to benefit from peerless service offering
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    UK brings subsea solutions to the US market

    Friday, Feb 27, 2009

    A delegation of UK subsea companies will head to Texas next month to showcase their skills and expertise at a major two day exhibition and seminar.
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    BG Group final offer for Pure at $8.25, subject to acquiring 90% interest

    Friday, Feb 27, 2009

    BG Group (“BG Group” – LSE: BG-L) today announced that it will increase its recommended all cash takeover offer for Pure Energy Resources Limited (“Pure” – ASX: PES) from $8.00 to $8.25 per share, on condition that BG Group has acquired a relevant interest in 90% of Pure’s ordinary share capital by the close of the BG Group offer period.

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    African Oil and Gas Projects in February

    At www.youroilandgasnews.com and www.yourprojectnews.com we feature all of the latest oil and gas project and contract news for the African region.  Please find some we featured on the site in February:

    Aegean Marine Petroleum Network Inc. Announces Record Fourth Quarter and Full Year 2008 Financial Results 26-02-2009
    Lundin Petroleum Receives Lagansky Block Licence Extension 25-02-2009
    Noble Energy Announces Fourth Quarter and Full Year 2008 Results 20-02-2009
    E.ON Ruhrgas acquires 29 % interest in exploration licence offshore Egypt 19-02-2009
    Geokinetics Announces 2009 Capital Expenditure Budget and Amendment to Revolving Credit Facility 18-02-2009
    Export credit agencies to fund PetroSA plant 18-02-2009
    Noble Energy, Inc. Announces Its Fourth Quarter 2008 Earnings Conference Call on the Web 18-02-2009
    Jordan- Energy Ministry to study gas supply agreement 18-02-2009
    Tethys Oil Raises MSEK 13 Through a Private Placement 17-02-2009
    Gulf suffers significant fall in foreign direct investment 17-02-2009
    Exxon Mobil Corporation Announces 2008 Reserves Replacement 16-02-2009
    Dana Announces Acquisition of Bow Valley Energy 16-02-2009
    Lundin Petroleum to Release Year-End Report 2008, Wednesday the 18 February 2009 16-02-2009
    Noble Energy Announces Oil Discovery at Carmen in Block ‘O’ Offshore Equatorial Guinea 13-02-2009
    OMV awarded new exploration license in Norway 13-02-2009
    UAE warns under-investment in oil will lead to supply crunch 13-02-2009
    Rwanda encouraged by oil sediment discoveries 12-02-2009
    Aberdeen Harbour Reports Another Record Year 11-02-2009
    Noble Energy Announces Successful Flow Test of Tamar Natural Gas Discovery and Increases Resource Estimate 10-02-2009
    Keppel FELS completes proprietary DSSTM 51 semi for Transocean 09-02-2009

    ODIM introduces game changing technology – ODIM Smart AHTS™

    Thursday, Feb 26, 2009

    ODIM has today launched its groundbreaking ODIM Smart AHTS™ anchorhandling concept, which is three times as effective as competing solutions in terms of capacity, economics, safety and the environment.
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    Rolls-Royce launches lightest waterjet for naval market

    Thursday, Feb 26, 2009

    Rolls-Royce, the global power systems company, has launched a new waterjet for naval markets. The Kamewa FF67 will be the latest in the FF-series of aluminium waterjets, which are the lightest and most powerful in their power range.
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    PG&E Launches 500 Megawatt Solar Power Initiative

    Thursday, Feb 26, 2009

    Utility-Owned and Independent Projects Would Speed Customer Access to Cleaner EnergySAN FRANCISCO, Calif. – Pacific Gas and Electric Company (PG&E) today announced plans for a five-year program to develop up to 500 megawatts (MW) of clean solar photovoltaic (PV) power in its northern and central California service area, one of the largest undertakings of its kind in the country.
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    24th Symposium on Photovoltaic Solar Energy: SCHOTT Solar seeks dialogue with customers, users and developers

    Thursday, Feb 26, 2009

  • OTTI PV Symposium convenes from March 4 – 6, 2009 at Banz Monastery in Bad Staffelstein, Germany
  • SCHOTT Solar reveals latest developments, including a high-performance double glass module
  • Opportunity to tour the site of SCHOTT Solar in Alzenau
    Read more…
  • INEOS ChlorVinyls Announces Price Increases for S-PVC for March 2009

    Thursday, Feb 26, 2009

    INEOS ChlorVinyls announces a price increase of 80 Euro per tonne for all it’s S-PVC grades in Europe for March deliveries.

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    Advancing Formulas for Environmental Leadership

    Thursday, Feb 26, 2009

    Chevron Phillips Chemical is committed to being a global, best-in-class supplier of quality plastics and chemicals while demonstrating responsible environmental stewardship. The Company is focused on finding ways to improve processes to minimize waste, conserve energy and protect our natural resources. 
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    Technip in Consortium Awarded an Engineering Contract for the Shtokman Gas Project

    Thursday, Feb 26, 2009

    Technip, in a consortium with Aker Solutions and SBM Offshore, has been awarded by Shtokman Development AG an engineering contract for the floating production unit for the offshore portion of the first phase of the integrated development of the Shtokman gas-condensate field in Russia. The contract is worth approximately €25 million.
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    Chevron Executive Speaks to Congress About the Outer Continental Shelf

    Thursday, Feb 26, 2009

    Mr. Chairman, Ranking Member Hastings and members of the Committee: My name is Gary Luquette, President of Chevron North America Exploration and Production Company. I have the honor today of representing Chevron’s 28,000 employees that live and work in the U.S. before your committee today.
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    Boeing Delivers 1st FAB-T Engineering Development Model to US Air Force

    Thursday, Feb 26, 2009

    The Boeing Company [NYSE: BA] has delivered the first Family of Advanced Beyond line-of-sight Terminals (FAB-T) Engineering Development Model (EDM) to the U.S. Air Force B-2 Program. Boeing and the Air Force will use the EDM to initiate platform integration and test activities.
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