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EPC giant, KBR Inc has secured the Basic Engineering Design (BED) and Front-End Engineering Design (FEED) for the Rhoude el Krouf Field (RKF) redevelopment project in Algeria. Operated by a joint venture between Sonatrach and CEPSA, the redevelopment project will bring an additional oil and gas treatment train to the existing facilities. The Sonatrach-CEPSA JV is looking to support the rise of Algeria’s oil and gas capacity.
Refinery major, HPCL is looking to borrow ₹8k crore to carry out its expansion plans. HPCL Chairman, MK Surana said that the proposed plan of raising Rs 12,000 crore in debt has been approved by shareholders. While HPCL is yet to decide upon the time or size of borrowings, it is clear that the fundraising does not involve borrowing plans of subsidiaries.
Supermajor Shell has established its first lubricant laboratory in the Indian city of Bengaluru. The laboratory will serve as an aid to India's OEMs and customers through valuable data analysis and new technologies. The addition of Shell Lubricants R&D laboratory unit is in line with Shell’s direct global reach in India, which is the third largest market for lubricants in the world.
Energy major Chevron Corp. has taken a big step towards the electric car business. It will be offering electric car charging ports at some of its gasoline stations in California. Back in November, Chevron invested in ChargePoint Inc. which is one of the biggest electric vehicle charging network. GM of Chevron said, "We are always exploring how to evolve our offering, helping improve the consumer experience".
India's second largest fuel retailer, BPCL has reported an increase in its profit in the fourth quarter. Its profit jumped by 16% and was at Rs 3,125 crore by the end of the quarter. The company said, "The Corporation has accounted for compensation towards sharing of under-recoveries on sale of sensitive petroleum products of over Rs 882.65 Crores by way of subsidy from Government of India for the current period”.
Oil guzzler, Indian Oil Corp. has said that it will assess the effects of US sanctions on the proposed Iranian investment in the CPCL expansion project. IOCL plans to pull down the Nagapattinam refinery and build a new refinery of 9 million tonnes unit in the upcoming five to six years. While the previously made investments by NIOC will not draw any impact, NIOC’s new investments will remain under scrutiny.
French supermajor Total has informed about suspending operations at some of the Leuna refinery units in Germany, over technical checks due to contaminated Russian crude supply. High levels of organic chloride contaminations were discovered in crude oil supplied via the Druzhba pipeline in April. Total expects operations to resume at the 230,000 barrel-per-day refinery on Saturday.
If sources were to be believed, ExxonMobil and state-owned GAIL (India) Ltd are in talks to form a joint venture in the country. Exxon’s renewed focus on India is an acknowledgment of the rising energy consumption in India. Chairman and MD at GAIL said, “The discussions are on. We are likely to make an announcement in a fortnight or so,".
Oman LNG LLC has awarded the FEED contract for the LNG debottlenecking project at Sur facility to EPC giant, KBR Inc. The terms of the contract require KBR to deliver FEED services to carry out the debottlenecking project at the facility. The project aims at increasing production at Sur facility. The contract award to KBR reinforces Oman LNG’s commitment to knowledge sharing and enhancing staff competency.
Government data released yesterday indicated that Chinese crude oil throughput ramped up in April to hit record daily levels. The rising production levels at private refineries buoyed up the crude oil production in the country. Refinery runs saw an increase of 5% from the previous year to 52.1 million tonnes, matching the record throughput of 12.68 million barrels per day (bpd).
In a statement given yesterday, Indian EPC major, Engineers India Ltd (EIL) informed about signing an agreement to deliver project management consultancy (PMC) services for the new 1.5 million tonne refinery being established in Mongolia. EIL inked the deal with Mongol Refinery State Owned LLC. The state-run EPC firm had previously performed a Detailed Feasibility Study for the project.
EPC giant, McDermott has secured a contract from Petrobras to carry out engineering, procurement, construction and installation (EPCI) of subsea risers and flowlines under Phase-1 of the Sepia field project. McDermott plans to utilize five vessels for the installation phase at ultra-deepwater depths. The engineering work will most likely begin immediately, and McDermott will reflect the contract in the second quarter of 2019 backlog.
American EPC giant, KBR Inc has secured an EPC contract for Train 4 at the Freeport LNG project in Texas. The expected EPC contract will require KBR to carry out engineering, procurement, construction, commissioning and start-up of the 5 mtpy LNG train and associated gas pre-treatment plant. The contract is expected to conclude within this quarter.
India's GSPC-owned Gujarat Gas Ltd has reported an increase in net profit to 77% in the recent quarter which ended in March. The company's profit has surged on the back of higher sales. In a regulatory filing, the company informed that its net profit in the period of January-March has been Rs 116.54 crore. Its sales went up to Rs 1,963.26 crore from Rs 1,777.82 crore in January-March 2018.
Oklahoma-based Matrix Service Company has secured an EPC contract for the Piedmont Natural Gas LNG facility in North Carolina. The contract was awarded to Matrix’s subsidiary, Matrix Service Inc, who will carry out engineering, procurement and construction services for the 1 billion cu. ft storage facility. The project which will begin this month, is slated for completion in the summer of 2021.
In a statement yesterday, CEO at Nayara Energy said that the firm has concluded a $750 million pre-payment deal with BP and Trafigura. The deal will require Nayara Energy to repay the two firms with the supply of gasoline and gasoil over the course of the next four years. Nayara, formerly known as Essar Oil, was acquired in 2017 by Rosneft-led consortium where Russian fund UCP and Geneva-based Trafigura are partners.
In a statement released yesterday, supermajor Chevron informed about concluding the purchase of 112,229-barrel-per-day Pasadena refinery from Petrobras in $350 million. Additionally, Chevron has also acquired Petrobras’ subsidiary, PRSI which operates the refinery and owns PRSI Trading, a trader of crude and refined products. Chevron and Petrobras agreed in January for the sale, but the transfer of the refinery ownership was kept on hold last month.
Aberdeen-based Wood Plc has bagged a contract with SABIC to carry out engineering design for a state-of-the-art petrochemical research center in Jubail Industrial City, Saudi Arabia. The scope of the contract includes engineering design of analytical and material labs for accommodating the testing, characterization and materials analysis, apart from support utilities. The contract pertains to SABIC’s new technology center spread out in 65,000m² in Jubail Industrial City.