Americas top stories - weekly summary

04 February 2013 15:00  [Source: ICIS news]

HOUSTON (ICIS)--Here are some of the top stories from ICIS Americas for the week ended 1 February 2013.

(Please click on the link to read the full text.)

US PPG, Georgia Gulf complete $2.1bn commodity chem merger Axiall
US-based chlor-alkali producer PPG Industries announced on Monday that the commodity chemicals business merger with US-based Georgia Gulf has been completed.

Chevron presents bribery evidence in $18bn Ecuadorian legal battle
Chevron filed documents with the federal district court in Manhattan on Monday that included allegations of bribery that took place during an $18bn (€13bn) lawsuit in which the California-based energy company was found guilty of environmental contamination in the Ecuadorian Amazon.

US judge approves BP's $4bn deal to settle criminal spill charges
A US district court judge on Tuesday approved a $4bn (€3bn) agreement for UK-based energy giant BP to settle federal criminal charges in connection with the Deepwater Horizon oil spill.

BP apologises for spill after judge accepts $4bn settlement
BP on Tuesday expressed its regret for its role in the Deepwater Horizon explosion and oil spill, following a district judge’s approval of a $4bn (€3bn) agreement to settle federal criminal charges against the UK-based energy giant.

North American fertilizer majors settle potash antitrust suit
Three major North American fertilizer companies announced on Wednesday that they have agreed to settle a potash antitrust lawsuit.

US economy to see growth in '13 despite Q4 GDP decline – analysts
Even though a preliminary report on Wednesday showed that the US economy contracted in the fourth quarter of 2012 for the first time since the second quarter of 2009, some economists said the decline was expected and that the US should continue to see modest growth through 2013.

US ethylene cycle to hit ‘double peak’ – Dow CEO
The US ethylene cycle is poised to hit a "double peak" in the coming years in the form of higher margins from low natural gas liquids (NGLs) feedstock costs, as well as higher operating rates, the chief executive of US-based Dow Chemical said on Thursday.

LyondellBasell calls off expansion plans for Texas metathesis unit
LyondellBasell has called off plans to expand its metathesis unit in Texas, citing the flood of on-purpose propylene plants that could be built in North America, the company's CEO said on Friday.

By: Staff Reporter
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