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Sources have revealed that Rosneft-owned Nayara Energy is planning on investing $19 billion in at Vadinar near Jamnagar. Staying in line with its expansion plans, the energy firm plans on setting up a 10.75 MMTPA capacity petrochemical complex and expand the refinery from 20MMTPA to 46MMTPA. The expansion will also be a debut venture into petrochemical business for the firm.
State-run Qatar Petroleum has inked an agreement with Chevron Phillips Chemical to construct a new petrochemicals complex. The new petrochemical plant, which is expected to come online by 2025, will be developed in Ras Laffan Industrial City. While Chevron Phillips Chemical Co (a JV between Chevron Corp and Phillips 66) will possess a 30% interest in the complex, Qatar Petroleum will own the rest.
State-owned Qatar Petroleum yesterday informed about inking a 10-year sales agreement with Thailand’s SCG Chemicals. The long-term supply agreement will require QP to deliver 3 million metric tons of Light Naphtha to SCG, beginning April 2019. The agreement marks the first Qatar Petroleum for the Sale of Petroleum Products Company (QPSPP) naphtha feedstock sale to an end-user like SCG in Thailand.
Leading technology provider, HoneywellUOP has announced the award of work for propylene production in Vietnam. Phu My Plastics Production JSC will deploy Honeywell’s C3 Oleflex™ technology for manufacturing polymer-grade propylene at its facility in the country. The proprietary C3 Oleflex technology converts propane to propylene through catalytic dehydrogenation. This award is first in line for Honeywell’s propane dehydrogenation technology in Vietnam.
Haldia Petrochemicals Ltd’s ₹28,700 crore-investment proposal received clearance from the Odisha government yesterday. The Indian downstream player proposed to establish an integrated refinery and petrochemicals facility in Balasore. A state government official revealed that the government will allocate land and consider fiscal concessions for the project. HPL’s proposed unit is estimated to produce 1.6 mtpa of paraxylene and 2.5 mtpa of PTA, and light naphtha and petrol.
In an inauguration ceremony yesterday, Prime Minister Narendra Modi unveiled BPCL’s integrated refinery expansion complex in Kochi. The integrated refinery comes with world class standards and would establish Kochi Refinery as the largest PSU refinery in India. The Prime Minister also laid the foundation stone for a new petrochemical complex at the Kochi refinery, apart from inaugurating a mounded storage vessel at the LPG bottling plant of the IOCL refinery.
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.
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.
French supermajor Total’s JV with Amsterdam-based Corbion, Total Corbion PLA informed about starting-up the new bioplastics plant in Rayong, Thailand. The 75,000 tpa-capacity plant will produce poly lactic acid (PLA), which is in high demand. The firms are looking to meet rising demand in markets such as consumer goods, packaging, 3D printing and the automotive industries.
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.
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.
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.
SNC-Lavalin has secured a Project Management Contract from Long Son Petrochemicals Company Limited (LSP). The Montreal-based engineering major will form an integrated team of personnel with LSP to manage a variety of contractors on site. President, Oil & Gas at SNC-Lavalin said that the project will leverage SNC-Lavalin’s project management and technical skills. LSP is investing US$5.4 billion to develop, construct and operate Vietnam’s first integrated petrochemicals complex.
Assam Petrochemicals Limited (APL) is launching a new pilot project next month to evaluate the feasibility of methanol as a cooking fuel. The project is part of an initiative by policy think tank, Niti Aayog, to promote the use of methanol. APL chairman yesterday said that methanol is estimated to be at least 30% cheaper than LPG.
Continuing on the downstream expansion strategy, oil major, Abu Dhabi National Oil Company (ADNOC) incorporated a specialised coker unit as part of its Carbon Black and Coker Project. The new delayed coker unit will enable ADNOC to recover highly specialised and valuable grades of carbon black and calcined coke. The UAE state-owned firm is eyeing the growth in Asian market for its petrochemical business.
On Wednesday, one of South Korea's largest refiner, S-Oil, said that it is planning to spend more than $4.5 billion on a petrochemical project by 2023. The new facilities will be built in Ulsan where the company’s 669,000 barrels per day (bpd) refinery is located. According to sources, S-Oil is conducting a feasibility study in order to expand its petrochemical business.
Jacobs Engineering secured a two-year contract renewal from Saudi Aramco Total Refining and Petrochemical Company (SATORP). Jacobs continues to provide services that include basic engineering, front-end engineering design (FEED), detailed design, procurement through to construction management, commissioning support at the SATORP Jubail II refinery. Jacobs has developed strong partnerships in Saudi Arabia, operating in various segments for over 40 years.
Zhejiang Petrochemicals of China, owned by Rongsheng Group, reportedly secured an oil import quota to import 5 million tonnes of crude oil this year. The huge import quota will allow Zhejiang to sustain the recently built oil refining and petrochemical complex. The complex will consist of two 400,000 barrels-per-day oil refineries and two 1.4 million tonnes-a-year ethylene plants.