Company News

ArcelorMittal and Japanese steelmaker Nippon Steel & Sumitomo Metal Corp. are planning a joint bid to buy ThyssenKrupp AG's Steel Americas unit to ramp up automotive steel sheet production.

Hess Corporation has announced that it will pursue the sale of its terminal network in the United States. Hess also announced that it will complete its exit from the refining business by closing its Port Reading, New Jersey refinery. “By closing the Port Reading refinery and selling our terminal network, Hess will complete its transformation from an integrated oil and gas company to one that is predominantly an exploration and production company and be able to redeploy substantial additional capital to fund its future growth opportunities,” said John Hess, Chairman and CEO. The terminal network is located along the U.S.

Statoil has acquired close to 70,000 operated net acres in the liquid rich part of the central Marcellus area. "The US unconventional plays hold a substantial resource base and represent an increasingly important part of future energy supplies,” said Statoil US onshore senior vice president, Torstein Hole.

Aerodyne Alloys has announced that 16 original Art of Alloys photographs will be presented in the New Britain Museum of American Art (NBMAA) in 2014.

Cashco, Inc. has announced that Laura Rathbun has been promoted to Purchasing Manager for the company, where she will be responsible for the purchase of raw materials and components used in the manufacturing of the diversified Cashco product lines.

Chevron Corporation has announced a $36.7 billion capital and exploratory investment program for 2013. "Consistent with long-stated strategies, we're investing in a portfolio of very attractive oil and gas projects that will deliver volume growth and real value to our stockholders," said Chairman and CEO, John Watson.

Foster Wheeler AG has acquired Three Streams Engineering, Ltd., a privately held engineering company located in Calgary, Alberta, Canada. “The acquisition of Three Streams is part of our stated strategy to grow the upstream capabilities and the geographic footprint of our Global Engineering and Construction Group,” said Chief Executive Officer of Foster Wheeler AG, Kent Masters.

BP has sold a number of its oil and gas fields in the deepwater U.S. Gulf of Mexico to Plains Exploration & Production Company (PXP).

Marathon Oil Corporation has announced a $5.2 billion capital, investment and exploration budget for 2013. About $1.9 billion, of which is targeted to the Eagle Ford shale play in Texas.

Precision Castparts Corp. has acquired Synchronous Aerospace Group, a leading build-to-print supplier of highly complex mechanical assemblies for commercial aerospace and defense markets. Synchronous manufactures such mechanical assemblies as high-lift mechanisms and secondary flight controls, as well as structural components, including wing ribs, bulkheads, and track and beam assemblies.