-The FCCU damaged in an explosion at ExxonMobil’s Torrance, Calif., Wednesday was offline for unplanned maintenance when the blast occurred, the Associated Press reports. The unit had been down for two days due to problems with a recently repaired alkylation unit. It is not yet known if the alkylation unit repairs played a role in the explosion or to what extent the FCCU was damaged. Four contractors received minor injuries in the blast, but no harmful emissions were reported.
-The engineering and construction sector saw a 215% increase in deal value year-over-year in 2014, according to a new report from Pricewaterhouse Coopers (PwC). It was the highest deal value increase among all U.S. industrial products sectors — a group that includes aerospace and defense, chemicals, industrial manufacturing and transportation and logistics. The chemical sector was the most active, with a 50% increase in deal volume. PwC expects more strong M&A activity in the industrial products sector this year due to CEO confidence, low commodity prices, new technologies and a skilled U.S. labor force.
-U.S. District Judge Carl Barbier today rejected BP’s request to cap its Deepwater Horizon spill liabilities at $3,000 per barrel. Prosecutors are seeking to hold BP liable for the $4,300-per-barrel maximum allowed under the Clean Water Act. Via FuelFix, BP asked the court to set the cap at the level determined by Congress in 1990. In his ruling, Barbier said the EPA has the authority to adjust the maximum fine based on inflation.
-LyondellBasell named Jeffrey Kaplan executive vice president and chief legal officer, effective March 1. He will replace Craig Glidden, who is leaving LyondellBasell to become general counsel at General Motors. Kaplan has served as deputy general counsel since joining LyondellBasell in 2009. He served in various leadership roles at Chevron Phillips Chemical Co. prior to that.
-PPG appointed COO Michael McGarry president. McGarry is a 34-year veteran of PPG who has served in various leadership roles in the U.S., Europe and Asia. He became COO last August.
