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IOCL receives clearance for Rs766 crore plant
Nov. 11, 2019

IOCL receives clearance for Rs766 crore plant

India's downstream giant IOCL has received clearance from the Ministry of Environment to set up 2G ethanol plant. This Rs 766 crore plant will be set up in Haryana's Panipat district. Union Environment Minister took social media platform to inform that "This project not only promotes use of environment-friendly fuel but also aids in fulfilment of government's goal of doubling farmers' income".

Angola forms consortium for $2 bn LNG project
Nov. 7, 2019

Angola forms consortium for $2 bn LNG project

Angola’s national oil, gas and biofuels agency ANGP has informed about forming a consortium with five international oil companies including Eni and Chevron. The consortium will work on developing liquefied natural gas (LNG) for the Soyo plant. With an initial cost of $2 billion, the project is anticipated to begin production by 2022, an ANGP spokesman said.

Husky concludes sale of Prince George Refinery
Nov. 6, 2019
Source: Rigzone

Husky concludes sale of Prince George Refinery

Canadian firm, Husky Energy has informed about concluding the sale of its Prince George Refinery to Tidewater Midstream and Infrastructure. The deal was finalized for $215 million in cash, excluding a closing adjustment of about $53.5 million. Apart from the deal, Husky also inked a five-year offtake agreement with Tidewater for refined products from the refinery.

ADNOC wants to partner with Eni and OMV
Oct. 16, 2019
Source: Reuters

ADNOC wants to partner with Eni and OMV

Oil major ADNOC is planning to partner with Eni and OMV to diversify its refining capacity. The company wants to take the refining capacity to 1.5 million barrels per day. The energy company has decided to double its refining capacity and triple petrochemicals output potential by 2025. In January, OMV and Eni decided to pay a combined $5.8 billion in order to buy stakes in refining business of ADNOC.

Incident at SASREF kills two
Oct. 16, 2019
Source: Reuters

Incident at SASREF kills two

Saudi Aramco-owned SASREF yesterday informed about the death of two contractors in “an incident” during maintenance work on Sunday. A statement released by the refiner said that the incident also left two others injured. Maintenance work will continue as planned at the facility. SASREF existed as a joint venture between Aramco and Royal Dutch Shell until September when Aramco bought it Shell’s stake in the JV.

Saudi Aramco interested in buying stakes in BPCL
Oct. 16, 2019

Saudi Aramco interested in buying stakes in BPCL

If sources were to be believed, oil supermajor Saudi Aramco is interested in acquiring stakes in Indian downstream major, BPCL. In the biggest privatization bid in the Indian history, the Government of India is aiming to farm out its stakes in BPCL to private investors. Sources revealed that the Saudi state-run behemoth is in the process of evaluating its Indian investments and viewing BPCL buy out as a good opportunity.

Different takes of oil companies on BPCL's privatisation
Oct. 15, 2019

Different takes of oil companies on BPCL's privatisation

Total and Reliance Industries might not bid for acquiring India's BPCL. Further, BP wants to explore the offerings before making a decision to decide for bidding. The Indian government has decided to sell 53.29% stakes of oil refining and marketing company BPCL. The firm accounts for 15% of the total installed refining capacity of the nation. Saudi Aramco might alone bid for the stakes or may have another partner, ADNOC.

Petrobras and Equinor sign MoU for Natural Gas projects
Oct. 11, 2019

Petrobras and Equinor sign MoU for Natural Gas projects

Brazil's Petrobras and Equinor have signed a memorandum of understanding on the joint development of natural gas business projects. Both the companies want to focus on enhancing the downstream value through thermoelectric generation. Petrobras informed that "The companies intend to combine efforts in investment in the natural gas, liquefied natural gas (LNG) and power generation segments".

Reliance to resume Venezuelan oil loadings
Oct. 10, 2019

Reliance to resume Venezuelan oil loadings

Reliance Industries of India will resume loading Venezuelan crude in October after a four-month pause. This will help Venezuela's state-run company PDVSA vacate its inventories. The refineries of Reliance are accustomed to the heavy sour crude that Venezuela sells. And this is why the downstream giant has decided to resume the import. According to PDVSA's documents, Reliance will send at least two vessels to Venezuela's Jose port for loading.

BPCL's denationalization paves path to privatization
Oct. 7, 2019

BPCL's denationalization paves path to privatization

In a major shakeup to the fuel retailing sector, the Government of India has repealed the legislation that had nationalized the downstream major, BPCL. The move will do away with the requirement to look for a Parliamentary nod before selling it off to private and foreign firms. The state is mulling to farm out most of its 53.3% stake in BPCL to a strategic partner, to encourage competition.

IOCL uses plastic waste to construct road
Oct. 4, 2019

IOCL uses plastic waste to construct road

India’s biggest oil guzzler, IOCL has built an 850 metres long road by using 16 metric tonnes of single-use plastic waste in bitumen concrete. The downstream major has also called for ‘expression of interest’ from different parties and aggregators to regularly provide commercial amounts of such waste. IOCL officials said that the road was constructed outside the firm’s R&D facility in Faridabad on an experimental basis.

Total and Sunfire join hands to produce hydrogen fuels at refineries
Oct. 3, 2019

Total and Sunfire join hands to produce hydrogen fuels at refineries

German clean-tech company Sunfire and Total have joined hands for a pilot project in Germany. The companies will try to produce methanol from renewables and carbon dioxide at the Leuna refinery. A plant is being constructed at the refinery which will be completed next year and production is expected to start in 2021. The plant will produce 500 tonnes of green methanol in the first three years.

Fire at Revap refinery under control: Petrobras
Sept. 30, 2019
Source: Reuters

Fire at Revap refinery under control: Petrobras

Brazilian state-run major, Petrobras informed about a fire that broke out at its Revap refinery, in Sao Jose dos Campos. On Sunday afternoon, the tanks which store materials used to produce asphalt and fuel caught fire. A statement released by Petrobras read that the fire was brought under control without any casualties. Investigations on the incident are underway.

IGL rolled out piped gas connections to record 2 lakh homes: Chairman Singh
Sept. 25, 2019

IGL rolled out piped gas connections to record 2 lakh homes: Chairman Singh

Natural Gas distribution firm, Indraprastha Gas Limited (IGL) has taken piped gas connections to more than 2 lakh homes in India, Chairman Gajendra Singh told shareholders on Monday. Singh added that the firm has expanded its CNG network to 500 stations by establishing 54 new outlets in 2018-19. IGL is now aiming at the consolidation of its position in current areas and ventures into new geographical locations.

“How dare you,” asks Greta Thunberg at UN Climate Summit
Sept. 24, 2019
Source: The Hindu

“How dare you,” asks Greta Thunberg at UN Climate Summit

The United Nations Climate Action Summit yesterday experienced an angry teenager climate change activist Greta Thunberg condemning world leaders for failing to take strong measures to combat climate change. “How dare you,” she said. “You have stolen my dreams and my childhood with your empty words,” the little climate change activist said. U.N. Secretary-General Antonio Guterres convened the summit in New York.

Exxon will invest £140m on Mossmorran plant
Sept. 18, 2019
Source: Energy Voice

Exxon will invest £140m on Mossmorran plant

Fife Ethylene Plant (FEP) at Mossmorran is operated by ExxonMobil. The plant is having flaring issues and Exxon has decided to invest £140m to reduce it. The plant manager of FEP said, "These planned investments demonstrate our commitment to long-term reliable operations at the site". Flaring accompanied by thick black smoke has become quite frequent which disturbs the residents. They have also complained of noise and light disturbance.

Baker Hughes concludes demerger with GE
Sept. 17, 2019
Source: World Oil

Baker Hughes concludes demerger with GE

Fullstream company, Baker Hughes has concluded its demerger with GE, closing a secondary offering of 132.25 million shares of BHGE Class A common stock. With Baker completing the share repurchase, GE and its affiliates lost ownership of more than 50% of the voting power of all classes of BHGE’s voting stock. BHGE aims to revise its corporate name to Baker Hughes Company, known as Baker Hughes.

IOCL to spend Rs 2,282 crore to establish second R&D centre in Faridabad
Sept. 11, 2019

IOCL to spend Rs 2,282 crore to establish second R&D centre in Faridabad

India’s largest oil guzzler, IOCL is looking to establish its second Research and Development (R&D) centre, nearby to an existing facility in Faridabad, Haryana. The proposed facility to be set-up at a cost of Rs 2,282 crore will research on alternative & renewable energy, industrial bio-technology, nanotechnology, refining technology, petrochemicals, applied metallurgy, pipeline research, catalytic interventions for clean energy processes and carbon nanotube & batteries.

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