Company News - Sonatrach buys Pluspetrol's share in Camisea project

Peru has authorized Algerian state oil firm Sonatrach to operate in Peru, following its projected purchase of an additional 20% share in the Camisea natural gas and condensate project from Argentina's Pluspetrol SA.The percentage being acquired is evenly split between upstream and downstream holdings. Until now, Pluspetrol has held 36% of the project's upstream portion and 19.2% of the downstream.Independent crude oil marketer and transporter EOTT Energy LLC reported Sept. 5 that it will cut its petrochemical production operations starting Oct. 1. Houston-based EOTT's plan will include the "phasing out" of the company's Morgan's Point methyl tertiary butyl ether produc...

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