Industry News

World’s largest producer of phenol breaks ground at cumene investment

INEOS Phenol has broken ground at its world-scale cumene investment in Marl Germany. The new state of the art 750,000 tons unit is scheduled to be completed in 2021.

U.S. group forms to defend natural gas against anti-fossil fuel measures

A group backed by anonymous donors launched a campaign to promote the benefits of cheap, abundant natural gas against proposals like the Green New Deal that would phase out use of the fossil fuel.

Petrobras reaches agreement to exit Uruguay gas distribution

Brazil’s Petroleo Brasileiro SA has signed an agreement to exit the natural gas distribution segment in Uruguay, the company said in a statement, without disclosing values.

Thailand's Gulf Energy and PTT to build $1.33B LNG project

Thailand's Gulf Energy Development Pcl and state-owned PTT Pcl will build a 40.9 billion baht ($1.3 billion) gas terminal and port on the country's east coast, the Industrial Estate Authority of Thailand (IEAT) said.

Iran building oil pipeline to terminal outside Gulf

Iran is building a $1.8 billion oil pipeline to its port of Jask outside the mouth of the Gulf, the country’s oil minister said, as part of plans to protect its exports against potential problems in the region and to boost shipments of Caspian oil.

China's Rongsheng says Saudi crude supply to return to normal in October

Saudi crude oil supplies for China’s privately-run Zhejiang Petrochemical Corp will return to normal in October after a slight disruption last month following the attacks on Saudi Aramco’s facilities, two company officials said.

Refiner spends big on petrochemicals, seeks JV

China’s privately owned Bora Enterprise Group has started construction of a $2.5 billion petrochemicals plant in northeast China as it looks to finalize a planned joint venture with LyondellBasell Industries (LYB.N), company sources said.

LNG prices seen wallowing at 10-year seasonal lows by year end

Asian LNG prices will likely be at their lowest, seasonally, in a decade by the end of the year as rapidly rising production outstrips feeble demand, weighed down by a global economic slowdown and the U.S.-China trade war, traders said.

Kosmos touts 2nd LNG plant in Senegal after drilling results

Kosmos Energy, a U.S.-listed oil and gas exploration company, said the results of its appraisal drilling offshore Senegal were good enough to consider a second liquefied natural gas (LNG) export plant in the West African country.

Oil company says refinery revamps set for January

Full restoration work on all three of Nigeria’s state-owned refineries will begin in January, the Nigerian National Petroleum Corporation (NNPC) said in a statement.

Saudi Arabia to restore full oil output by next week

Saudi Arabia has restored more than 75% of crude output lost after attacks on its facilities and will return to full volumes by early next week, a source briefed on the latest developments told Reuters.

Indonesia's Pertamina stops oil spill off Java

Indonesia's state oil and gas company PT Pertamina said it had stopped an underwater leak from an oil well off West Java over the weekend after more than two months of spillages.

Oil firm signs Honeywell Ecofining renewable fuels technology

Honeywell announced that St1 Nordic Oy has licensed the UOP’s Ecofining™ renewable fuels technology to produce 4,000 barrels per day of diesel and jet fuel integrated with its refinery complex in Gothenburg, Sweden. Basic engineering design for the project has already been completed.

Saudi Arabia draws down oil stocks to maintain supply after attack

Saudi Arabia will try to maintain oil supplies to its major customers by drawing down crude stored at tank farms in the kingdom and in its global network while repairing and replacing installations damaged in the recent attacks.

Refinery begins FCCU work; CDU to run below full

BP Plc began a planned overhaul of the small gasoline-producing fluidic catalytic cracking unit (FCCU) at its 430,000 barrel-per-day (bpd) Whiting, Indiana, refinery, said sources familiar with plant operations.

Woodside signs LNG supply deal

Woodside Petroleum saidit has signed a preliminary agreement to supply liquefied natural gas (LNG) to German utility Uniper for 13 years starting in 2021, contingent on Woodside developing its Scarborough gas project.