fetching latest news

News tagged in:  

DOWNSTREAM NEWS

BPCL to increase oil imports from Iraq
Jan. 14, 2019
Source: Gulf Times

BPCL to increase oil imports from Iraq

In an interview last week, director for refineries at BPCL said that the downstream major will import 5mn tonnes of various grades of Iraqi crude in 2019. He also said that importing more crude from Iraq will let BPCL to displace some portion of the other Middle East crude. BPCL enhanced the capacity of Kochi refinery to 15mn tpa, which will allow them to process more dirty cheap crudes.

Valero Energy ordered to suspend pipeline operations in Wales
Jan. 9, 2019
Source: Reuters

Valero Energy ordered to suspend pipeline operations in Wales

Citing water contamination issues in Milford Haven, environmental watchdog of Wales, NRW has ordered to suspend two fuel pipelines on the Valero refinery jetty. Valero Energy had reported a product leak into the Milford Haven Waterway, last week. The US-based downstream firm runs the 220,000 barrel per day oil refinery in Pembroke.

Shell begins production at new petrochemicals unit
Jan. 8, 2019

Shell begins production at new petrochemicals unit

Concluding the startup procedure that begun in December at its Geismar facility, Shell Chemical LP started production of the fourth alpha olefins (AO) unit. Total AO production at Geismar has increased to more than 1.3 million tpa, post the 425,000-tpa capacity expansion. The addition of new AO unit at Geismar has demonstrated the tactical value of its integrated downstream division.

Saudi Aramco concludes stake purchase in Arlanxeo chemicals JV
Jan. 3, 2019

Saudi Aramco concludes stake purchase in Arlanxeo chemicals JV

Saudi Aramco has concluded the purchase of 50% stakes in the Netherlands-based Arlanxeo joint venture (JV). Aramco has now gained full ownership of the synthetic rubber company. The oil major bought the stakes from Lanxess in a €1.5bn deal. Proceedings from the transaction will allow Lanxess to reduce financial debt. Arlanxeo, which produces synthetic rubber and elastomers, will operate as a wholly owned subsidiary of Saudi Aramco.

Iran to invest big in CPCL
Jan. 2, 2019

Iran to invest big in CPCL

In an interview last week, the managing director of Chennai Petroleum Corp. informed that Iran will invest about Rs.1,500 crore in the expansion of CPCL’s Nagapattinam refinery. The expansion project will boost the facility’s capacity to 9 million tpa. The proposed investment will be Naftiran Intertrade Co.’s stake of the Rs 27,500 crore expansion plans. The Persian Gulf country has suffered severe hits on its oil exports due to US sanctions.

Paz Oil extends its contract with Palestinian Authority
Dec. 28, 2018

Paz Oil extends its contract with Palestinian Authority

Paz Oil, Israel's largest refined oil products distributor, has announced that it has extended its contract for two years with the Palestinian Authority. This contract extension is regarding the sales of petroleum products in the West Bank and Gaza Strip. Paz Oil will also provide maintenance and equipment under the agreement which will last till the end of year 2020.

Saudi Aramco enters into fuel retailing
Dec. 27, 2018
Source: Reuters

Saudi Aramco enters into fuel retailing

In a statement released yesterday, state-owned Saudi Aramco informed about launching a domestic fuel retailing subsidiary, Saudi Aramco Retail Co, in order to expand into downstream businesses. Through the newly established entity, the oil major aims to create a network of filling stations within Saudi. While plans of making an IPO were halted this year, the new retail subsidiary could help Riyadh to go ahead with an IPO in Aramco.

Gazprom to go ahead with its LNG bunkering plan
Dec. 27, 2018

Gazprom to go ahead with its LNG bunkering plan

The Board of Directors of Russia’s Gazprom have agreed on the company’s LNG bunkering plan. The company will continue its work of developing infrastructure to produce and market LNG as a marine fuel. A group statement stated “Gazprom continues to build the LNG production, storage and shipment complex near the Portovaya compressor station. It is planned to use the plant’s output to, inter alia, bunker marine vessels in Russia.”

SOCAR, BP joint venture in Turkey
Dec. 21, 2018
Source: Azer News

SOCAR, BP joint venture in Turkey

Supermajor, BP and Azerbaijani state-owned SOCAR’s subsidiary in Turkey yesterday entered into a Heads of Agreement (HoA). Under the agreement, the two oil firms agreed to assess the formation of a joint venture for building and operating a world-scale petrochemicals complex in Turkey. The complex is expected to manufacture 1.25 million tpa of purified terephthalic acid (PTA), 840,000 tpa paraxylene (PX) and 340,000 tpa benzene.

Clock Spring licenses new gasket technology
Dec. 20, 2018
Source: World Oil

Clock Spring licenses new gasket technology

Houston-based Clock Spring has informed about a new technology licensing and distribution agreement for the Pipeotech AS DeltaV-Seal technology. The licensed metal-to-metal gasket technology will improve operations in refineries and petrochemical plants, apart from terminals and on upstream gathering lines. Clock Spring’s gasket employs DeltaV-Seal technology under license from Pipeotech AS.

Petronas and Cheniere enter 20-year gas supply deal
Dec. 19, 2018

Petronas and Cheniere enter 20-year gas supply deal

Malaysian state-owned Petronas has entered into a 20-year deal with Cheniere Energy Partners LP to buy LNG from the sixth plant at the Louisiana export terminal. Under the agreement, Petronas has agreed to purchase about 1.1 million tons a year from the Sabine Pass facility. The firms have agreed to index the purchase price to Henry Hub, plus a fee.

ADNOC, Cespa jointly awards contract to Tecnicas Reunidas
Dec. 19, 2018
Source: Reuters

ADNOC, Cespa jointly awards contract to Tecnicas Reunidas

Spanish engineering firm, Tecnicas Reunidas has secured an engineering design contract for ADNOC and Cespa’s joint project in Ruwais. The linear alkylbenzene (LAB) plant will also be the first derivative unit developed under the $45 billion-Ruwais downstream investment programme. An ADNOC statement read that the plant will manufacture 225,000 tonnes of normal paraffins per year and 150,000 tonnes of linear alkyl benzene per year.

Petrofac secures $115m contract in Oman
Dec. 18, 2018
Source: World Oil

Petrofac secures $115m contract in Oman

US oilfield service provider, Petrofac has secured a $115 million contract for the development of the Qarn Alam Co-Generation Project in Oman. The project will require Petrofac to install and commission a Gas Turbine Generator Package with one Heat Recovery Steam Generator at the power plant. The plant is intended to support oil extraction in Oman’s central region. The 36 month-long project will be managed from Petrofac’s Muscat office.

Croatia’s INA puts off production at its largest refinery
Dec. 15, 2018
Source: Reuters

Croatia’s INA puts off production at its largest refinery

Croatia’s multinational energy firm INA has announced that its largest refinery will undergo a planned maintenance from January to mid-April 2019. The plant, which is located in the northern Adriatic port of Rijeka, has a capacity of 100,000 barrels per day (bpd). INA also owns a 60,000 bpd- refinery in Sisak.

Saudi Aramco and ADNOC’s $50b-refinery project in India delayed
Dec. 12, 2018
Source: Reuters

Saudi Aramco and ADNOC’s $50b-refinery project in India delayed

As reported by Reuters, Saudi Aramco and ADNOC’s prominent $50 billion refinery and petrochemical project in India has been delayed by two years. The proposed coastal refinery with 1.2 mbpd processing capacity will be built by RRPL, a JV between state-owned firms and Saudi Aramco and ADNOC. The project is scheduled for commission in 2023.

Pertamina hires SK and Hyundai for refinery upgrade
Dec. 10, 2018
Source: Reuters

Pertamina hires SK and Hyundai for refinery upgrade

Indonesian state-owned Pertamina has signed up SK E&C and Hyundai E&C for the $4 billion Balikpapan refinery upgrade project. In the same media briefing, the state oil major also entered into a framework agreement with Oman’s Overseas Oil and Gas LLC (OOG) for the development of a $10 billion refinery and petrochemical complex in Bontang.

SOCAR to deploy Honeywell’s PSA Technology
Dec. 7, 2018

SOCAR to deploy Honeywell’s PSA Technology

Technology giant, Honeywell informed that Azerbaijani state-owned SOCAR will deploy Honeywell UOP’s Pressure Swing Adsorption (PSA) technology at its Heydar Aliyev Oil Refinery (HAOR). Honeywell’s technology will enable Azerbaijan to meet the rising demand for Euro V standard transportation fuels. As part of modernising the HAOR plant, HoneywellUOP will supply two PSA units, controlled by Honeywell Process Solutions C300 distributed control systems.

Meridian Energy signs up McDermott for Davis Refinery
Dec. 7, 2018

Meridian Energy signs up McDermott for Davis Refinery

US-based Meridian Energy Group has assigned EPC giant, McDermott as the contractor to the Meridian Davis Refinery in North Dakota. Under the scope of the contract, McDermott will carry out Front-End Engineering Design (FEED). Post completion of the FEED phase, both the parties will ink a comprehensive turnkey EPC agreement. The Davis refinery is entering final design and equipment fabrication phase.

Please Login to Save News for Later