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If sources were to be believed, RIL head, Mukesh Ambani is mulling plans of boosting the capacity of the world’s largest refinery complex in Jamnagar. If the proposition goes through, Jamnagar refinery will see an addition of new plant with crude processing capacity of 30 million tpa. RIL is fortifying its place in India where energy demand, according to IEA, is expected to more than double by 2040.
China-based Inner Mongolia Huineng Coal Chemical Co Ltd Technology firm has contracted the Linde Group to supply a mid-scale LNG plant in Inner Mongolia. The new LNG plant will be seventh in line for Linde to date in China, and also the largest. Linde's Engineering Division will provide engineering, procurement and site services for the 750,000 tpa LNG plant. Linde will utilise its proprietary LIMUM(R) process for the plant.
Algerian state-owned, Sonatrach will utilise Honeywell’s technology suite at refinery in Arzew, Algeria to produce 200,000 metric tpy of MTBE. Technology giant, Honeywell will deliver technology licensing, design services, key equipment and state-of-the-art catalysts and adsorbents for the project. The technology suite also includes UOP’s Butamer™, UOP C4 Oleflex™, and UOP Ethermax™.
Swiss technology leader, ABB has secured an automation contract from JG Summit Petrochemical Corporation for the petrochemical expansion project. Under the scope of contract, ABB will carry out designing, engineering, manufacturing, and will provide a complete plant electrification system for the proposed expansion. The project aims at increasing cracker production of ethylene, propylene, apart from upgrading the capacity of the new bimodal polyethylene and the existing polypropylene plant.
Asia’s largest oil and gas producer, PetroChina registered its highest Q3 profit since 2014. In a regulatory filing, PetroChina yesterday reported $3.02 billion in net profits, ramping up 350% from 4.69 billion yuan in 3Q2017. Revenue for the state-owned firm rose by 24.8%, owing to higher global oil and gas prices.
EPC giant, McDermott International and Italian contractor, Saipem are planning to jointly bid for NextDecade's proposed Rio Grande LNG project in Texas. CEO, McDermott informed that they are planning to submit the joint EPC proposal in the second quarter of 2019. NextDecade expects to reach a final investment decision on the project by 3Q2019.
Hyundai Engineering & Construction yesterday informed through a regulatory filing about dropping the $521 million deal to construct a petrochemicals complex in Iran. The South Korean firm cited US sanctions on Iran as the reason. It said that the Iranian customer’s ability to fund the project had been hit by the outlook of sanctions against the Persian country.
US downstream player, Phillips 66 yesterday reported 70.2% rise in its earnings to $936 million. The American multinational easily beat analysts’ expectations, owing to cheaper domestic crude prices which boosted its refining margins. US crude's discount to Brent extended to more than $10 a barrel, allowing refiners in the country to register a higher margin for third quarter.
EPC giant, TechnipFMC has concluded the construction of a new ammonia production unit, “Ammonia 4”, executed for Duslo, as part of the Agrofert group. The 1,600 tpd Ammonia 4 unit, which has an estimated operating life of 40 years, utilises Haldor Topsoe’s latest-generation technology. The plant successfully met performance criteria in July. The new unit is operating in the existing fertilizer complex located in Sal’a, in Slovak Republic.
Thai Oil has awarded the consortium of Petrofac, Saipem and Samsung a £3billion clean fuels project in Thailand. The project aims at transforming the existing refinery in the Chon Buri province into a facility that is environmentally-friendly. Under the contract, Petrofac will provide engineering, procurement, construction and commissioning (EPCC) services for over four years, which will also include adding new processing units. Petrofac will receive over £1billion as share.
EPC giant, McDermott International secured an EPC contract of a Delayed Coker Unit, from LUKOIL NizhegorodNefteorgSyntez. The unit will be installed in the Deep Conversion Complex, to be constructed in Kstovo, Russia. This award follows a contract awarded in 2016 to McDermott's JV with Chevron, Chevron Lummus Global (CLG), for its delayed coking technology.
BASF, world’s largest chemical producer, and ExxonMobil are conducting a full scale commercial demonstration of their jointly-developed solvent. The firms have chosen Imperial Oil’s Sarnia Refinery for this purpose. The amine-based solvent is aimed at fulfilling the stringent sulfur emission standards with greater efficiency. The solvent will allow refiners and gas processors to enhance capacity and reduce the operating costs involved with existing equipment.
If sources were to be believed, French energy major, Total is planning to buy stakes in the LNG and city gas projects of Adani Group. The Indian multinational owns 25% stakes in just-completed LNG import terminal at Mundra, apart from building another terminal at Dhamra in Odisha. Total is looking forward to buy 50% of Adani’s interests in the two terminals, apart from stakes in Adani’s already thriving CGD projects.
Sources have said that CNPC-owned PetroChina is setting up its first office in South Asia to look for business opportunities in oil and liquefied natural gas. The move is seen as Chinese oil major’s strategy of expanding its role in overseas markets. According to the Indian Ministry of Corporate Affairs website, the company was listed as PetroChina International (India) in July with a total paid-up capital of $444,000 in Mumbai.
Shell’s subsidiary, Shell Chemical Appalachia LLC has announced the successful installation of its quench tower at the under-construction Pennsylvania Petrochemicals Complex. The lift of the 87 metres tall and 2,000 tonnes quench tower was described as an important milestone in the project. Some 3,000 workers are on site at the Pennsylvania Petrochemicals project, which is bringing economic growth and jobs to the region.
Azerbaijan’s state-owned SOCAR is all set to start-up its new refinery in Turkey, next week. The $6.3 billion Star refinery will provide feedstock to Turkish petrochemicals firm, Petkim to help cut Turkey’s reliance on imported refined oil products. SOCAR’s refinery would have the capacity to process about 200,000 barrels of crude per day, estimated to produce 1.6 million tonnes of naphtha and 420,000 tonnes of xylenes, apart from other products.
Canadian oil firm, Irving Oil has reported a major incident at its Saint John refinery in Canada. Residents in the area witnessed fire and explosion at the refinery. According to CNBC, the Saint John refinery has the capacity to refine 320,000 barrels per day of gasoline, diesel heating oil, jet fuel and other petroleum products. More than half of Irving Oil’s produce is supplied to the United States.
Bayport Polymers has awarded a contract to McDermott International, Inc. for the development of its new High-Density Polyethylene (HDPE), the Borstar Bay3 Project in Texas. Bayport is a JV of Total Petrochemicals & Refining USA and Novealis Holdings LLC. McDermott’s scope of work includes engineering, procurement, fabrication and construction. The capacity of the plant is 625,000 tons/year. The plant will be ready in 2021.