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12:38 PM, 8th July 2015
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Former Yara CEO and executives sentenced to prison in corruption case

OSLO, NORWAY: A Norwegian court sentenced four former top executives at Yara International ASA, the world’s biggest nitrate fertiliser maker, to prison on Tuesday for paying bribes in Libya and India, in one of Norway’s biggest corruption scandals. Prosecutors had accused the men of paying around $8 million in bribes to officials in India and Libya - including to the family of former Libyan leader Muammar Gaddafi’s oil minister and the family of a financial adviser in Ind ...

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12:07 PM, 2nd September 2015
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Perstorp launches competition for thermoplastic materials innovation

PERSTORP, SWEDEN: Perstorp AB said as a celebration of the 40th anniversary of its Capa caprolactone thermoplastic materials, it launched a competition on 1 Sept, aiming to reach out to people to identify and solve a future challenge in this ever-changing world. The goal via this crowdsourcing initiative is to engage with visionary and technically minded people from all over the world – university students and professionals alike – to scan the horizon for potential challenges and co ...

6:50 AM, 2nd September 2015
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UOP licenses technology to expand refinery in Egypt

DES PLAINES, US: UOP LLC, a Honeywell company said that Egypt’s Alexandria National Refining & Petrochemicals Company (ANRPC) will use UOP technology and equipment as part of a $300 million, multi-year project to expand an existing, state-of-the-art gasoline production facility to meet growing domestic demand for high-octane gasoline. ANRPC will add a second UOP CCR platforming process unit, including a modular CCR section, at the facility in Alexandria to produce high-quality reforma ...

6:10 AM, 16th July 2015
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Portable ‘paper machine’ can diagnose disease for less than $2

CAMBRIDGE, US: In the US and other industrialized nations, testing for infectious diseases and cancer often requires expensive equipment and highly trained specialists. In countries where resources are limited, performing the same diagnostics is far more challenging. To address this disparity, scientists are developing a portable, low-cost “paper machine” for point-of-care detection of infectious diseases, genetic conditions and cancer. Their report appears in the ACS journal Analyti ...

12:38 PM, 8th July 2015
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Former Yara CEO and executives sentenced to prison in corruption case

OSLO, NORWAY: A Norwegian court sentenced four former top executives at Yara International ASA, the world’s biggest nitrate fertiliser maker, to prison on Tuesday for paying bribes in Libya and India, in one of Norway’s biggest corruption scandals. Prosecutors had accused the men of paying around $8 million in bribes to officials in India and Libya - including to the family of former Libyan leader Muammar Gaddafi’s oil minister and the family of a financial adviser in Ind ...

5:04 AM, 18th June 2015
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Shell, BG $70 billion deal crosses key milestone with US clearance

LONDON, UK: US regulators have given the green light for Royal Dutch Shell’s proposed $70 billion acquisition of British rival BG Group, the first clearance for the biggest deal in the energy sector in over a decade. The two companies said on Tuesday the United States Federal Trade Commission (FTC) had cleared the deal. The deal, which the companies aim to complete by early 2016, will require further regulatory clearances from all the countries BG operates in, including the European Unio ...

9:47 AM, 15th June 2015
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Momentive opens logistics centre in Dubai

WATERFORD, US: Momentive Performance Materials Inc said it has inaugurated the Middle East & Africa (MEA) logistics centre at Dubai, UAE and it will act as a vital gateway to serve Momentive’s customers in the MEA region. The new logistics centre, located in the logistic city will complement the company’s sales offices and technical services lab in Jebel Ali. “Momentive continues its commitment to expanding our manufacturing and technology footprint by investing in high gr ...

10:49 AM, 7th June 2015
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SEC investigates allegations of misspending by Dow Chemical CEO

NEW YORK, US: The US Securities and Exchange Commission is investigating allegations that Andrew Liveris, chairman and chief executive officer of the global chemicals giant Dow Chemical Co, misused company funds for personal benefit, according to people familiar with the matter, reported the news agency Reuters on thursday. It is not clear whether the SEC investigation is limited to the spending allegations or is broader in scope. Also unclear is whether regulators have ordered Dow, Liveris or ...

9:55 AM, 7th June 2015
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Rare-earths miner Molycorp prepares to file for bankruptcy protection

NEW YORK, US: Molycorp Inc, the only US miner and processor of rare-earths elements, plans to file for chapter 11 bankruptcy protection as soon as this month to cut its $1.7 billion debt load, according to people familiar with the matter, reported WSJ last week. The Greenwood Village, Colo-based company is completing a plan that would involve senior bondholders exchanging some or all of their debt for ownership of the company, some of the people said. It is exploring options such as an equity s ...

7:39 AM, 2nd June 2015
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Six oil and gas majors call for carbon pricing, policy framework

LONDON, UK: Six major oil and gas companies, BG Group Plc, BP Plc, Eni SpA, Royal Dutch Shell Plc, Statoil ASA and Total SA, announced their call to governments around the world and to the United Nations framework convention on climate change (UNFCCC) to introduce carbon pricing systems and create clear, stable, ambitious policy frameworks that could eventually connect national systems. These would reduce uncertainty and encourage the most cost effective ways of reducing carbon emissions widely. ...

11:18 AM, 27th May 2015
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Borouge and Borealis open sales office in Casablanca; for energy, infra biz

ABU DHABI, UAE: Borouge and Borealis said they have opened a dual-branded sales office in Casablanca, Morocco, with an initial focus on the energy and infrastructure segment, where Borealis and Borouge have well-established track records, in the region. Also a new legal entity established for this venture is owned by Borealis and registered in Morocco, they said. Apart from boosting co-operation between the two parties, Borouge said the new office aims to meet growing demand for polyolefins and ...

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