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China and Russia To Lead Global Polypropylene Capacity Additions By 2018

July 24, 2014 2:27 pm | by GlobalData | Comments

Global polypropylene capacity increased at a Compound Annual Growth Rate (CAGR) of 5.2% from 2003, reaching 65 million tons per year (mmty) in 2013, and is expected to continue rising to 86 mmty by 2018, at a slightly higher CAGR of 5.8%, according to research and consulting firm GlobalData.

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3M Q2 Profit Rises

July 24, 2014 9:59 am | by Associated Press | Comments

The maker of Post-it notes, industrial coatings and ceramics posted net income of $1.27 billion, or $1.91 per share, in the quarter ending June 30, compared with $1.2 billion, or $1.71 per share, in the same quarter a year ago.                    

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U.S. Refineries Running At Record Levels

July 24, 2014 9:55 am | by U.S. Energy Information Administration | Comments

Last year was the third year in a row that North American refineries showed considerably higher profitability than European refineries as measured by earnings per barrel processed.                           

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Breitburn Buys QR Energy For $1.46B

July 24, 2014 9:44 am | by Associated Press | Comments

QR unitholders will receive approximately 72 million common units of Breitburn Energy Partners LP, or 0.9856 of a Breitburn unit, for each unit of QR Energy that they own. The consideration to be received by QR unitholders is valued at $22.48 per unit, a 19 percent premium to Wednesday's closing price of $18.87.

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Slow Emergency Response Raises Safety Concerns In The Oil Fields

July 24, 2014 9:43 am | by JOSH WOOD, Associated Press | Comments

A more efficient system must be established to alert residents of danger in North Dakota's booming oil patch, an emergency manager and residents said, after authorities failed to alert the public for more than six hours when a facility storing toxic chemicals exploded. 

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The economic reports this week were mixed with several reports coming in weaker than expected.

U.S. Chemical Production Higher In June

July 23, 2014 5:14 pm | by American Chemistry Council | Comments

According to the American Chemistry Council (ACC), following an upwardly revised 0.5 percent gain in May, the U.S. Chemical Production Regional Index (U.S. CPRI) continued to expand, rising by 0.3 percent in June. Chemical output was higher in all regions.

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Multi-Million Metal Research Center Heads To Detroit

July 23, 2014 5:07 pm | by Associated Press | Comments

The $148 million American Lightweight Materials Manufacturing Innovation Institute (ALMMII) is expected to help move cutting-edge metals from research into vehicles, planes and ships used commercially and by the U.S. military.                 

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Oil Gains On Sharp Drop In U.S. Supplies

July 23, 2014 4:54 pm | by Associated Press | Comments

The price of oil rose Wednesday after the government reported that U.S. oil supplies rose more than expected.                                              

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Air Quality Deemed Safe After Oil Supply Plant Fire

July 23, 2014 4:51 pm | by JOSH WOOD, Associated Press | Comments

Air quality tests at the site of an industrial fire in Williston showed levels "that would not raise concern," according to North Dakota Department of Health Air Quality Division director Terry O'Clair.                            

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New Safety Rules Proposed To Phase Out Old Oil Trains

July 23, 2014 4:48 pm | by Associated Press | Comments

Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed Wednesday in response to a series of fiery train crashes over the past year, including a runaway oil train that exploded in the Quebec town of Lac-Megantic, killing 47 people.

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Oil Supply Plant Fire Finally Extinguished

July 23, 2014 10:07 am | by JOSH WOOD, Associated Press | Comments

A massive blaze that shot fireballs into the sky at an oil supply and logistics company in a western North Dakota oil patch hub has been extinguished, according to the town's fire department.                                      

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Industrial Fire's Cause Still Unknown

July 23, 2014 10:05 am | by JOSH WOOD, Associated Press | Comments

More than half a day after an industrial fire broke out in the North Dakota oil patch town of Williston, authorities still were unable to say what caused the massive blaze.                          

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Dow Chemical Adjusted Profit & Revenue Rise

July 23, 2014 9:59 am | by Associated Press | Comments

Dow Chemical's second-quarter net income slid 62 percent as the prior-year period benefited from a $2.16 billion payment related to a scrapped joint venture.                             

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The EPA's Twitter Faux Pas

July 22, 2014 4:58 pm | by DINA CAPPIELLO, Associated Press | Comments

The Environmental Protection Agency's fight to clean up water pollution got a splash of pop culture, thanks to an Internet flub involving reality TV star Kim Kardashian.                                        

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Flaws Found In Gas Drilling Regulation

July 22, 2014 4:51 pm | by Associated Press | Comments

Pennsylvania's state auditor general released a performance audit report saying the Department of Environmental Protection lacks a clear policy on the timeliness and frequency of inspections of the thousands of wells and does not routinely verify information the industry provides about waste disposal.

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