Lake Charles News
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SinoTech Energy Ltd., a Beijing- based oilfield equipment supplier, agreed to pay $20 million to settle a lawsuit claiming the company misled investors in its 2010 initial public offering.
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After spending years searching for enough crude to pump, the U.S. oil and natural gas industry now is struggling to find and pay for enough skilled workers to tap the abundant supply in shale rock, putting $100 billion in planned petrochemical projects at risk.
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Liquefied Natural Gas Ltd., an Australian company planning to export the fuel from a proposed $2.2 billion plant in the U.S., said it’s in talks with partners and gas suppliers to feed the venture.
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Calcasieu Refining Co. plans to start work Nov. 29 on burners in a process heater at its Lake Charles, Louisiana, refinery, according to a filing with the Louisiana Department of Environmental Quality.
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The liquidator of Bernard L. Madoff’s firm sued Lion Global Investors Ltd. and at least six other companies to recover at least $172.8 million they allegedly received from investments made with the con man by Fairfield Sentry Ltd.
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Pinnacle Entertainment Inc. agreed to buy Ameristar Casinos Inc. for about $900 million, more than doubling to 17 casino resorts with its biggest acquisition.
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Natural gas suppliers from Sempra Energy to Exxon Mobil Corp. are fighting for the first U.S. export permits after a study said selling some of the fuel to Asia will benefit the economy more than consuming it domestically.
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Citgo Petroleum Corp.’s Lake Charles refinery in Louisiana is commissioning a rail terminal next week, said Bob Kent, vice president of refining at the company.
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PPG Industries Inc. declared force majeure for vinyl chloride monomer produced at its Lake Charles, Louisiana, chemicals complex and for all grades of liquid caustic soda after a Dec. 24 fire at the plant.
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A Citgo Petroleum Corp. oil-spill case gives a template for the way BP Plc’s liability and penalty will be decided in the government’s Clean Water Act lawsuit over the worst U.S. offshore spill.
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