Oil and gas industry announcements: 27 January 2015

Alfa Laval

Alfa Laval has won an order to supply compact heat exchangers to a refinery in the US. The order, booked in the Energy & Process segment, has a value of approximately SEK80 million. Delivery is scheduled for 2016. The compact heat exchangers will be used for heat recovery in the process where heavy crude oil is upgraded to ultra low sulphur transportation fuels. Reusing heat in the oil refining process will maximise the energy efficiency.

Lars Renstrom, President and CEO said, “oil refining is a very energy intensive process. By using our efficient compact heat exchangers the producer can save energy and thereby improve their bottom line.”

Apco

Apco Oil and Gas international Inc. has announced that its shareholders, at an extraordinary general meeting (EGM) approved the proposal to adopt the previously announced merger agreement, dated October 2 2014, pursuant to which Pluspetrol Resources Corporation will acquire Apco. At the EGM, there were 24 778 669 shares voted by proxy or in person, representing approximately 84% of Apco’s total outstanding shares as of the record date, December 19 2014.

In addition, the shareholders also approved the non-binding advisory compensation proposal included in the proxy statement filed on December 22 2014. The consummation of the acquisition of Apco by Pluspetrol remains subject to the satisfaction or waiver of a number of customary closing conditions set forth in the merger agreement and discussed in detail in the definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission by Apco on December 22 2014.

Atlas Copco

Atlas Copco’s Systems Hemel Hempstead custom engineering workshop has been officially reopened following the completion of a £680 000 upgrade to strengthen its world class credentials. The workshop at Systems Hemel Hempstead, one of Atlas Copco’s six global competence centres that design and assemble bespoke compressed air and nitrogen generation packages primarily for the oil and gas industry, has more than doubled in size and been equipped with a range of new facilities in order to meet growing international demand for its services.

OriginOil

OriginOil Inc. is collaborating with the Idaho National Laboratory (INL) of the US Department of Energy. A proposed project focuses on development and implementation of novel approaches to improve efficiency in algal biofuel production. Together, OriginOil and INL have submitted a proposal in response to a Funding Opportunity Announcement (FOA) titled ‘Targeted Algal Biofuels and Bioproducts (TABB). The TABB FOA seeks alternative pathways to overcome two of the key barriers to commercialising algal biofuels, the high cost of producing algal biomass and the low yield of target biofuel and bioproduct feedstocks produced from algae.

Deborah T Newby, INL Senior Staff Scientist said, “the proposed work scope complements current department funded work at INL, which focuses on the development of productive, stable polycultures. Specifically, this proposed research will facilitate testing to advance the understanding of using algae in developing sustainable fuels.”

Petrobras

Petrobras’ refineries in Brazil achieved a new annual oil processing record in 2014. The average volume processed was 2.1 million bpd of oil, up 34 000 bpd from the previous record set in 2013. In addition, Petrobras achieved a number of monthly records at its refineries, with the amount processed rising from 2.151 million bpd in March to 2.172 million bpd in June, for example. Besides the increased processing at distillation units in 2014, there was also strong performance in facilities that are part of the diesel and gasoline production processes.

Edited from press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/27012015/oil-gas-global-announcements/