News

Holly Energy Partners (HEP) will undertake two expansion projects to provide 60,000 barrels per day of additional crude pipeline take-away capacity resulting from increased Delaware Basin drilling activity in southeast New Mexico. The first project will boost one of HEP's existing crude oil trunk lines from 35,000 BPD to 60,000 BPD.

Italy-based Marcegaglia Group has invested in a new stainless pipe and flat steel service center in Vladimir. The new establishment will produce about 35,000tns of steel per year, with an expected turnover of EUR 130 million,

Dow Chemical Co. has disclosed plans to build and operate a USD 20 billion Saudi Arabian chemicals complex in partnership with Saudi Arabian Oil Co. Both companies believe that this move will create one of the world's largest integrated chemical facilities.

POSCO is now the world’s No. 2 stainless steel producer, after expanding the capacity of its Chinese stainless steel JV. The company also intends to list the JV in Hong Kong or Shanghai after 2013. Zhangjiagang Pohang Stainless Steel (ZPSS) has completed construction on additional facilities

Houston Structures Inc., a member of Ulven Companies, has successfully completed a contract from U.S. Army Corps of Engineers to provide tainter gate wire rope assembly replacements for 11 dams in Oklahoma and Kansas. The USD 2.96 million contract, awarded through the Corps of Engineers' Tulsa District

The oil ministers of Iraq, Iran and Syria have signed a preliminary agreement for a USD 10 billion natural gas pipeline deal. The agreement was inked in the Assalouyeh industrial region in Bushehr by Iranian oil minister Mohammad Aliabadi, Iraq's oil minister Abdul Kareem Luaiby

Outokumpu has appointed Jarmo Tonteri as the new EVP Specialty Stainless and member of Outokumpu Group's Executive Committee, effective 1 August 2011. He will report to Mika Seitovirta, the CEO of the company.

Sandmeyer Steel Company has appointed Richard Zakrzewski as District Sales Manager of the Midatlantic sales territory which includes eastern Pennsylvania, New Jersey, Delaware, Maryland, Virginia, and southeastern New York.  

Taiyuan Iron & Steel Group has raised the contract prices of austenite stainless steel by CNY 500 per tonne for domestic market for August 2011 delivery. The prices for ferrite stainless steel will remain unchanged however.