MOSCOW (MRC) -- The federal Pipeline and Hazardous Materials Safety Administration on Thursday ordered ExxonMobil Pipeline Company to pay a USD2.63 million fine for violations of safety regulations that contributed to a 2013 oil spill in Mayflower, said Arkansasnews.
In a 46-page order, the regulatory agency said it found nine violations by ExxonMobil. The company said in a statement Thursday it has received the agency’s order and is evaluating its options.
The March 29, 2013, rupture of the Pegasus pipeline in Faulkner County released thousands of barrels of crude oil into homes, yards, a creek, wetlands and a cove of Lake Conway. Regulators initially estimated the volume of the spill at 5,000 barrels, but later the volume was calculated at 3,190 barrels.
In April, ExxonMobil agreed to pay a USD5.07 million settlement to resolve allegations by the U.S. attorney’s office for the Eastern District of Arkansas, the U.S. Department of Justice and the Environmental Protection Agency that it had violated federal and state environmental laws in connection with the spill.
As MRC informed before, in late February 2015, large fire explosion’ rocks ExxonMobil’s Torrance Refinery in California. Workers evacuated an ExxonMobil refinery in Torrance, Calif., after an explosion, which occurred near a fluid catalytic cracking unit, according to the United Steelworkers union that represents operators at the plant.
ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
MRC
MOSCOW (MRC) -- Oct 5 Southeastern Asset Management, a shareholder group with a stake in Swiss chemicals company Sika AG, reaffirmed its support for the current board on Monday after controlling shareholders renewed efforts to oust the board after a failed attempt in July, said Reuters.
Southeastern, which owns about 4 percent of Sika, said in a statement the sale of the Schenker-Winkler family's 16 percent stake to Compagnie de Saint-Gobain at an 80 percent premium is disadvantageous to all non-family Sika stakeholders and to Saint-Gobain and its shareholders.
Last December, Saint-Gobain agreed to buy a 16.1 percent stake from the Burkard-Schenker family that carries 52.4 percent of Sika's voting rights -- enough for control and, at 2.75 billion Swiss francs (USD2.83 billion), a far cheaper option than buying the whole company.
However, at a shareholder meeting called by the family in July to remove some board members, the board capped their voting rights at 5 percent, thwarting any attempts to elect a replacement aligned with the Burkard-Schenker family to sell their stake to Saint-Gobain.
Sika could not be immediately reached for comment outside regular business hours.
As MRC informed before, Sika AG reported a 28% increase in annual profit as the Swiss construction and industrial chemical maker continues fending off a hostile takeover bid from France's Saint-Gobain SA.
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories. Its more than 16,000 employees generated annual sales of CHF 5.6 billion in 2014.
MRC
MOSCOW (MRC) -- Univar Inc.announced that its wholly owned subsidiary, Univar Canada Ltd., has acquired all of the outstanding stock of Future Transfer Co., Inc.; BlueStar Distribution Inc.; and BDI Distribution West Inc., said the company in its press release.
Founded in 1973, Future/BlueStar specializes in logistics, warehousing, packaging and formulation services to the agriculture industry in Canada. The company has 90 employees and operates from six locations, four in Ontario and two in Manitoba.
"This acquisition positions Univar as the leader in multiple value-added services in the Canadian agriculture market," said Univar President and Chief Executive Officer Erik Fyrwald. "Future Transfer and BlueStar Distribution bring additional expertise in multiple areas, that combined with Univar Agriculture’s capabilities, are vital to maintaining and growing relationships with suppliers, who are increasingly focused on research and are moving toward these services to support their growth."
Univar plans to combine the Future/BlueStar businesses with Fort Storage, a Univar company that provides warehousing, logistics, and distribution services in Canada. In addition to providing the company with an immediate, national presence in the 3PL market, the acquisition enhances Univar Agriculture’s distribution network, which now includes 10 facilities in four provinces with more than 1.2 million square feet of Agrichemical Warehousing Standards Association (AWSA) warehouse space, the most in Canada.
Founded in 1924, Univar is a global distributor of specialty and basic chemicals from more than 8,000 producers worldwide. Univar operates more than 700 distribution facilities throughout North America, Western Europe, the Asia-Pacific region, and Latin America, supported by a global network of sales and technical professionals. With a broad portfolio of products and value-added services, and deep technical and market expertise, Univar delivers the tailored solutions customers need through one of the most extensive chemical distribution networks in the world. Univar is Chemistry DeliveredSM.
MRC
MOSCOW (MRC) - October contract price of propylene in Europe was agreed down EUR110/tonne below the level of September. On the back of the reduction of the monomer prices European producers announced a decrease in export prices of polypropylene (PP) for the markets of the CIS countries by EUR90/tonne, according to ICIS-MRC Price Report.
Negotiations on October prices of European PP began last week. Many market participants said European producers have not reduced their export PP prices proportionally to the price decline of the monomer.
Deals for homopolymer PP for October delivery into CIS markets were discussed last week in the range of EUR1,010-1,080/tonne FCA, while a month earlier the deals were agreed in the range of EUR1,110-1,160/tonne FCA.
Many companies reported a tight supply of homopolymer PP raffia grade at the most producers. Some producers were able to ship polypropylene not earlier than in the end of October.
Deals for PP block copolymers were discussed in the range of EUR1,070 - 1,150/tonne FCA, on average down by EUR90/tonne below the level of September. Negotiations on October shipment of PP random copolymers were done in the range of EUR1,120-1,180/tonne FCA.
MRC