Industry News

Cost of giant Aramco refinery project to rise

India’s planned giant refinery and petrochemical project, which is being built with Saudi Aramco and Abu Dhabi National Oil Co (ADNOC), will cost more than the originally planned $45 billion, India’s oil minister said.

Asian oil refiners' light, sweet tooth drives changes in purchases

Asian refiners are buying more light crude and trimming purchases of heavy oil, as they tweak production to meet rising demand for low-sulfur fuels in the shipping sector.

Industry-first, continuous methane measurement program

Drones equipped with space-age sensors are part of a wave of advanced technology zooming into operation at BP’s new major oil and gas processing projects as part of a program to continuously measure methane emissions.

Air Products advances gasification growth strategy

Air Products announced a new joint venture (JV) with Debang Xinghua Technology Co., Ltd., a subsidiary of Jiangsu Debang Chemical Industrial Group Co., Ltd. (“Debang Group”), to build, own and operate a coal-to-syngas processing facility.

Plans for Israeli gas exports to Egypt on track

Plans to start exporting gas from Israel to Egypt are on track but further steps are still needed before exports can commence, Egyptian petroleum minister Tarek El Molla said.

Refiner starts building IMO-compliant fuel stocks

Cosmo Oil, Japan’s third-largest refiner, has started building stocks of very low-sulfur fuel oil (VLSFO) that can be supplied to domestic marine fuel markets from October ahead of IMO 2020, its top executive told Reuters.

Go West: Nigerian oil skirts U.S. shale boom

Nigeria’s oil, displaced by U.S. shale, has found an unlikely new outlet this year: the coast of the continental United States that is farthest from the African country’s shores.

NOVATEK signs MOU with Petronet LNG

NOVATEK and Petronet LNG signed a Memorandum of Understanding (the “MoU”) on future natural gas cooperation.

Freeport LNG ships first commissioning cargo from Texas plant

The Freeport liquefied natural gas (LNG) project in the United States has shipped its first commissioning cargo, adding to the glut of supply of the super-chilled fuel globally.

Shell delays LNG export project to 2025

Royal Dutch Shell, one of the world's largest liquefied natural gas (LNG) suppliers, has asked U.S. regulators to extend the time by which it should complete an LNG export project in Louisiana by five years to 2025, regulatory filings showed.

Russia, OPEC sources say Saudi shake-up won't affect oil pact

Leadership changes in Saudi Arabia's oil industry will have no effect on cooperation between Moscow and Riyadh, two top Russian officials said, indicating the shake-up won't derail a global pact to support oil prices by curbing output.

Lender says it will not be future owner of Antipinsky refinery

Russia's largest lender Sberbank does not see itself as the future owner of the Antipinsky oil refinery, which filed for bankruptcy earlier this year, Sberbank deputy board chairman Anatoly Popov said.

Refinery increases environmental friendliness in coke production

Gazprom Neft’s Omsk Oil Refinery has completed the installation of the main section of its new delayed coking unit.

U.S. Construction Spending Rose a Slight 0.1% in July

U.S. construction spending ticked up just 0.1% in July, aided by government spending on schools, sewers and the water supply.

Petrobras extends period for companies to flag interest in buying its refineries

Brazil’s state-owned oil company Petroleo Brasileiro SA said that it would extend the deadline for parties to state their interest in buying four refineries it has put up for sale, based on high investor interest.

Europe set to buy more Asian gasoil as shippers switch to cleaner fuels

More Asian gasoil is expected to head to Europe as buyers take advantage of the biggest seasonal price gap between the two regions in at least seven years to build up stocks ahead of a switch to cleaner marine fuels, traders and ship brokers said.