Lotte, LACC break ground on $3-billion Louisiana petchem project

South Korea’s Lotte Chemical Corp. and LACC LLC, Atlanta, a subsidiary of Axiall Corp. and Lotte Chemical USA Corp.’s 50–50 joint venture Eagle US 2 LLC, have started construction on a long-planned grassroots petrochemical project in southwest Louisiana. Source: News


Blog: Strikes show French refining vulnerability

Refinery strikes now easing in France highlight vulnerabilities of the country’s refining industry, especially in comparison with that of the US, according to analysts at Turner, Mason & Co. Source: News


Chinook divests assets to Tournament Energy

Chinook Energy Inc. has divested most of its oil and natural gas properties in Alberta to privately held Tournament Exploration Ltd. and made a payment of $925,000 for common shares representing about 70% of Tournament’s issued and outstanding share capital. Both companies are based in Calgary. Source: News


Sahara Petrochemicals lets contract for Saudi operations

Sahara Petrochemicals Co. has let a contract to Jacobs Engineering Group Inc., Pasadena, Calif., to provide general engineering services at Sahara’s various chemical businesses at Al Jubail Industrial City in Saudi Arabia’s Eastern Province. Source: News


IEA: Oil stockpile in first half smaller than expected

In its June Oil Market Report, the International Energy Agency stated that less oil has been stockpiled than originally expected during this year’s first half. The surplus of supply over demand in the first half is currently about 800,000 b/d compared with the initial expectation of 1.5 million b/d in January. The sharp reduction is […]