Top 5 News for November 6 -10, 2017
Every week, BIC Magazine publishes the top five articles as a recap. Here are this week's top headlines for November 6-10, 2017.
1. Shell starts main construction on Pennsylvania petrochemicals complex
Shell Chemical Appalachia LLC announced the official start of the main construction phase of its major petrochemicals complex in Potter Township, Pennsylvania. This follows the successful completion of the site preparation and detailed design and engineering work.
2. Port Cameron to bring deepwater port to Southwest Louisiana
The Lake Charles area is recognized as a hub for the petrochemical industry, serving as home to several national and world leaders in oil refining and chemical manufacturing, such as Citgo, Phillips 66 and Alcoa.
3. LyondellBasell approaches Brazil's Braskem for takeover
LyondellBasell Industries NV has approached Brazil’s Braskem SA for a potential takeover, valuing the petrochemicals company at more than $10 billion. The talks are at an early stage and there is no guarantee of a deal.
4. American Industrial Partners acquires The Brock Group
American Industrial Partners has acquired majority ownership of The Brock Group, a Houston-based provider of mission-critical services to the refining, petrochemical, power generation and other industries. AIP is a New York-based private equity firm that focuses on buying, improving and growing industrial businesses in the U.S. and Canada.
5. ExxonMobil Baton Rouge refinery back in production after fire reported
ExxonMobil Corp returned to production the large crude distillation unit at its Baton Rouge, Louisiana, refinery after it was idled following a fire in another unit, said sources familiar with plant operations.