President Donald Trump has rejected a waiver request from Exxon Mobil to continue an oil and gas drilling deal with Russia's Rosneft. "In consultation with President Donald J. Trump, the Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions," the Treasury Department said.
The Texas House of Representatives is considering a bill advanced by the state Senate that would increase the weight limit for trucks in an effort to boost annual containerized exports, especially to the Port of Houston. Observers say the bill would help the region prepare for upcoming transportation bottlenecks identified by the American Chemistry Council and help plants in the Gulf Coast access low-cost natural gas feedstocks.
Interior Secretary Ryan Zinke has picked Daniel Jorjani and James Cason to head a task force for regulatory reform within the department. Zinke also named four other people to serve on the task force, which is being formed in response to a presidential executive order.
The 5th US Circuit Court of Appeals has agreed to delay a case over a 2015 Obama-era rule governing toxic heavy metals in coal-burning power plant wastewater. The Environmental Protection Agency is in the process of reviewing the standards.
AkzoNobel is publicly supporting its chairman after investors led by Elliott Management Corp. sought an extraordinary general meeting for the purpose of his removal. AkzoNobel this week received a third merger offer from PPG Industries, with investors concerned about a possible hostile bid.
Reliance Industries reported a higher-than-expected 12.8% increase in Q4 net profit, saying its chemicals and refining businesses had higher margins. The company said it gets most of its revenue from the two segments but is also working to expand its Reliance Jio Infocomm telecom project in India.
A pair of crackers under development by Shell Chemical and PTT Global Chemical in Monaca, Pa., and Belmont County, Ohio, respectively, are expected to create long-term downstream economic activity. "This is actually bigger than the shale boom itself because these are jobs that will stay for years," said Mike Mancuso of the Salem Area Sustainable Opportunity Development Center.
The administration's proposed fiscal 2018 budget for the Environmental Protection Agency would add $13.8 million for implementing the reformed Toxic Substances Control Act. The budget would also make EPA's pesticides office more dependent upon fees for its funding, as well as end the Integrated Risk Information System program.
Retired Army Corps of Engineers Maj. Gen. John Peabody will testify Wednesday before the Senate Environment and Public Works Committee on the Waters of the US rule. The hearing is set to consider the "technical, scientific and legal basis" for WOTUS.
Lanxess has closed its acquisition of Chemtura and plans to merge their additives portfolios into a specialty additives segment.
- Page 1