Shell to shed downstream business in Argentina

Royal Dutch Shell PLC has signed an agreement to sell its downstream business in Argentina—including the 100,000-b/d Buenos Aires refinery—to Raizen Group, Sao Paulo, for $950 million in cash proceeds.  Source: News


MARKET WATCH: Brent crude oil breaks above $75/bbl

Brent crude oil rose above $75/bbl on the London market during Apr. 24 trading, its highest since 2014. The Apr. 23 settlement for Brent’s June contract was $74.71/bbl. Analysts attributed rising oil prices to uncertainty about possible sanctions against Iran. Source: News


LACC advances Louisiana petrochemical project

LACC LLC, a 50-50 joint venture of Lotte Chemical Corp. subsidiary Lotte Chemical USA Corp. and Westlake Chemical Corp., is progressing with work on a long-planned grassroots petrochemical project in southwest Louisiana.  Source: News