Industry News

Italian, Chinese majors vie in Pakistan's mega LNG tender

Italian oil major Eni, China’s overseas energy unit PetroChina and two trading houses are vying to supply liquefied natural gas (LNG) to Pakistan in one of the largest tenders ever worth billions of dollars, sources said.

Venture Global secures over $10B for Calcasieu Pass LNG construction

Venture Global LNG, Inc. announced that the company’s $5.8 billion Calcasieu Pass LNG construction financing has received over $10 billion in binding commitments from Initial Coordinating Lead Arrangers.

Reliance Industries' profit rises as Jio, retail cushion refining hit

Reliance Industries Ltd's June-quarter profit rose 7%, as double-digit growth in the Indian conglomerate's retail and telecoms businesses helped offset its worst oil refining margins in 18 quarters.

China's refiners want tax cuts before making cleaner shipping fuel

Chinese oil refiners want changes to tax laws on the consumption and sale of fuel oil in order to start producing low-sulfur marine fuel when new global clean fuel rules start in 2020, four executives at Chinese oil companies said this week.

U.S. ethanol plants expected to cut output on poor margins, oversupply

U.S. ethanol plants are expected to sharply curtail production in the weeks ahead as steep Midwest corn prices and the U.S.-China trade war have led to weak margins and oversupply, industry sources said.

Dominican Republic aims to drive activity

The Caribbean nation hopes that attractive entry terms will spur exploration activity

No impact from Broome earthquake on Australia oil, gas operations

Oil and gas operations onshore and offshore Western Australia were unaffected by a magnitude 6.6 earthquake that struck off the northern coast of the state, the country’s offshore petroleum safety regulator and companies said.

Norway asks Equinor to review safety at Hammerfest LNG plant

Norway's oil safety regulator said it had identified safety breaches at Equinor's Hammerfest liquefied natural gas (LNG) plant, which shut down for repairs in March, and notified the company to review security at the facility.

Japan's Inpex to launch engineering design for $20B Indonesian LNG plant

Japan’s Inpex Corp plans to start front-end engineering design (FEED) on the $20 billion Masela gas project in Indonesia next year, Chief Executive Takayuki Ueda said, with LNG production at the giant field due to start by 2027-2028

Oil and gas company continues to expand petrochemicals business

OMV, the international, integrated oil and gas company headquartered in Vienna, has made the decision to invest EUR 64 mn in the construction of an ISO C4 plant.

Iran set to invest in south Indian refinery

Iran is ready to invest in the expansion of a South Indian refinery, an Iranian official said in New Delhi, as the country seeks new avenues of growth amid debilitating U.S. sanctions.

Refiners test the waters with exports of IMO 2020-compliant fuel

Refineries in Taiwan and South Korea are testing the market for fuels that meet new rules for low-sulfur ship fuel starting next year, exporting some cargoes of very low-sulfur fuel oil (VLSFO) this month.

Ex-owner of Russia's largest independent oil refinery arrested

A former owner of the debt-laden Antipinsky refinery, Russia’s largest independent oil-processing plant, was arrested in Moscow, his company said in a statement.

Shell reports 'operational upset' at refinery site unit

A unit at Royal Dutch Shell’s Pulau Bukom refinery and petrochemical complex experienced an operational upset, a company spokeswoman said.

China's Sinopec sets up fuel oil unit in Sri Lanka

China Petroleum and Chemical Corp, known as Sinopec Corp, said it has set up a fuel oil company in Sri Lanka as it looks to supply fuel to ships along a major maritime route.

Tellurian, Total finalize Louisiana Driftwood LNG export plant agreements

U.S. liquefied natural gas (LNG) developer Tellurian Inc said on Wednesday that units of French oil major Total SA have agreed to buy LNG from the U.S. company’s proposed $30 billion Driftwood export project in Louisiana.