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Conoco Signs 2 Billion Dollar Settlement Contract with Venezuelan State-Owned Oil Firm

Venezuela: Business Trade-off

Conoco Signs 2 Billion Dollar Settlement Contract with Venezuelan State-Owned Oil Firm

08/21/2018 - Under the International Chamber of Commerce judgement, Pdvsa has agreed to make initial payments of 500 million dollars within 90 days. The pending amount is expected to be paid on a quarterly basis in the next 4.5 years. read...

Petrofac Awarded EPC Contract by Basra Oil Company

Iraq: Oil Processing

Petrofac Awarded EPC Contract by Basra Oil Company

08/20/2018 - Petrofac has been awarded a contract worth around $ 370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in the Majnoon Field, Southern Iraq. read...

Eni Gets Approval for Offshore Exploration License in Mediterranean Sea

Egypt: Oil & Gas

Eni Gets Approval for Offshore Exploration License in Mediterranean Sea

08/16/2018 - The exploration license is named ‘Nour’ and with this project the firm is expecting to strengthen its position in Egypt. The company intends to commence drilling of the exploration well in the second half of 2018. read...

Petrofac Bags 370 Million Dollar Contract from Basra Oil Company

Iraq: EPC

Petrofac Bags 370 Million Dollar Contract from Basra Oil Company

08/16/2018 - The project involves the expansion of the Central Processing Facility in the Majnoon Field and work is expected to be complete in a time frame of 34 months. read...

Haldor Topsoe to Fully Acquire Ferrostaal Topsoe Projects

Denmark: Acquisition

Haldor Topsoe to Fully Acquire Ferrostaal Topsoe Projects

08/15/2018 - Danish catalyst specialist Haldor Topsoe announced that it was going to acquire full ownership of German Ferrostaal Topsoe Projects GmbH. The acquisition adds project planning and development know-how to the company's portfolio of high-performance catalyst and proprietory technologies for the chemical and refining industries. read...

Articles

To the Last Drop – How Pumps Can Become Efficiency–Enablers for Tank Farms

Screw Pumps/Tank Storage

To the Last Drop – How Pumps Can Become Efficiency–Enablers for Tank Farms

05/29/2018 - How screw pumps strip out even highly viscous media – When emptying an oil or fuel tank (a process refferd to as stripping), quite often residual product of the highly viscous media is left behind. But does it have to be that way? Pumps with excellent intake at low NPSHr values can in fact completely empty tanks – even of crude oil and bitumen. And one technology in particular outperforms the rest... read...

NEWS

Toyo Wins Contract for Naphta Cracking Furnaces Project

Japan: Naphta Cracker

Toyo Wins Contract for Naphta Cracking Furnaces Project

Toyo Engineering Corporation was awarded an expansion of naphtha cracking furnaces project from Maruzen Petrochemical, which is intended to increase ethylene production at its Chiba plant. read...

Positive Environmental Assessment Report for Velocys' Planned Biorefinery

USA: Biofuels

Positive Environmental Assessment Report for Velocys' Planned Biorefinery

Velocys announced that the US Department of Agriculture (USDA) has issued a Finding of No Significant Impact (Fonsi) on the environmental assessment report for Velocys’ planned Bayou Fuels biorefinery in Natchez, Mississippi. read...

Saudi Aramco, Air Products, and Acwa to Create 8 Billion Dollar plus JV

Saudi Arabia: Business Expansion

Saudi Aramco, Air Products, and Acwa to Create 8 Billion Dollar plus JV

The PPP mega gasification/power JV project is expected to produce power, hydrogen and other utilities for Saudi Aramco. The project is in line with the Kingdom’s Saudi Vision 2030 and is scheduled to commence in 2019. read...

Adnoc Aims to Improve Business Relations with Japan

UAE/Japan: Energy Prospects

Adnoc Aims to Improve Business Relations with Japan

The Arabian firm has plans to focus on the increasing energy needs of Asian economies and at the same time aims to attract new investment opportunities in its Upstream and Downstream operations. read...

Moda Midstream Acquires Ingleside Terminal from Occidental

USA: Export Terminal

Moda Midstream Acquires Ingleside Terminal from Occidental

Liquids terminaling and logistics provider Moda Midstream has entered into a definitive agreement to acquire the Oxy Ingleside Energy Center and certain crude oil and LPG infrastructure from Occidental Petroleum Corporation. read...

Sumitomo Awarded Contract by Hyundai for CFB Power Plant

South Korea: Biomass Power Plant

Sumitomo Awarded Contract by Hyundai for CFB Power Plant

Sumitomo SHI FW has been awarded a contract by Hyundai Engineering & Construction (HDEC) for design and supply of the Daesan Biomass Power Plant boiler island. read...

Eni and Snam Collaborate to Create 20 Fresh CNG Refuelling Stations

Italy: Sustainable Mobility

Eni and Snam Collaborate to Create 20 Fresh CNG Refuelling Stations

The project encourages sustainable mobility and supports the development of natural gas and biomethane refuelling stations in the country. The investment for the CNG stations is expected to be within 11.58 million dollars. read...

Pöyry Awarded Contract for Biogas Plant Expansion by Gasum

Finland: Biogas Plant

Pöyry Awarded Contract for Biogas Plant Expansion by Gasum

Gasum has awarded Pöyry an engineering, procurement and construction management (EPCM) services assignment for the expansion project of the Topinoja biogas plant in Turku, Finland. read...

BP Takes Over World-Class Unconventional Assets from BHP

USA: Oil & Gas

BP Takes Over World-Class Unconventional Assets from BHP

The acquisition will transform BP’s US onshore business and also lead the firm to possess assets that have a combined production of 190,000 boe/d and 4.6 billion boe resources. read...

Jizzakh Petroleum to Use Honeywell UOP Technology for New Refinery

Uzbekistan: New Refinery

Jizzakh Petroleum to Use Honeywell UOP Technology for New Refinery

Honeywell announced that Jizzakh Petroleum will use Honeywell UOP technologies to build a new refinery capable of processing 5 million tons per year of crude oil to produce gasoline, diesel and jet fuel. The refinery is being built in the Jizzakh region of Eastern Uzbekistan. read...

Ichthys LNG Project Commences Offshore Production

Australia: Liquefied Natural Gas

Ichthys LNG Project Commences Offshore Production

Total announced the opening of the first offshore production well at the Ichthys LNG Project. At full capacity, the offshore facilities are expected to produce 1,600 mmscfd of gas (285,000 barrels of oil equivalent per day) and 85,000 barrels of condensate per day. read...

Exxon Mobil Earns $ 4 Billion in Q2 2018 as Key Projects Proceed

USA: Second Quarter Results

Exxon Mobil Earns $ 4 Billion in Q2 2018 as Key Projects Proceed

Exxon Mobil announced that key projects in Guyana, the US Permian Basin, Brazil, Mozambique and Papua New Guinea are positioning the company well to meet the objectives outlined in the long-term earnings growth plans. This resulted in estimated earnings in the second quarter 2018 earnings of $ 4 billion, compared with $ 3.4 billion a year earlier. read...

Saipem Announces New Contracts Worth About $ 800 Million

Italy: Onshore E&C Contracts

Saipem Announces New Contracts Worth About $ 800 Million

Saipem has been awarded Onshore Engineering & Construction contracts in Saudi Arabia, Serbia, Mexico, Iraq and Nigeria worth approximately $ 800 million in total. read...