IOCL lets contract for Indian vacuum residue upgrade unit

In what is being called the first ever unit of its type in India, Indian Oil Corp. Ltd. has let a contract to CB&I, Houston, for the license, engineering design, and catalyst supply for a vacuum residue upgrading unit in Mathura, India.   Source: News

Shell opts for full exit from Woodside ownership

Royal Dutch Shell PLC has opted for a complete exit from the Woodside Petroleum Ltd. share register just hours after an initial agreement to sell 64% of its holdings. Source: News

Growth seen for electric vehicles, oil use

Demand for oil will grow through 2040 even as dominance of the internal combustion engine weakens in road transportation, according to base-case projections by IHS Market. But gasoline consumption will decline as fuel economy improves and as gasoline-fueled vehicles lose their share of new-vehicle sales, the firm says in research it calls Reinventing the Wheel. […]

EQT completes Rice Energy acquisition

EQT Corp. has completed its $8.2-billion acquisition of Rice Energy Inc, Canonsburg, Pa. Acquired properties include 421,000 net acres in the Marcellus and Utica shale plays, average natural gas sales of 1.3 bcfd, and midstream interests. Source: News

California air-quality board begins petroleum-source study

The California Air Resources Board formally began its study of neighborhood air near petroleum sources, or SNAPS, as it launched a web site on Nov. 13 and prepared to hold its first public meeting a day later. The Nov. 14 meeting will be held at the California Environmental Protection Agency headquarters in Sacramento. Source: […]