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Oil Prices Surge amidst US-Iran Tensions

World Update

Oil Prices Surge amidst US-Iran Tensions

24/06/2019 - Post the attack on two oil tankers in the Gulf of Oman, oil prices have surged. The U.S. President also called off a military strike on Iran stating that he was not seeking a war with Iran. read...

IEA’s Oil Market Report for 2020

Industry Trend

IEA’s Oil Market Report for 2020

24/06/2019 - The International Energy Agency (IEA) has launched its oil market report for 2020. The report predicts that there will be plenty of non-OPEC supply growth which will be available to meet any likely level of demand. Also, the OPEC countries will be sitting on 3.2 mb/d of spare capacity. read...

40 Billion Dollar Ratnagiri Refinery Relocates to Raigad

India: Project Update

40 Billion Dollar Ratnagiri Refinery Relocates to Raigad

21/06/2019 - Protests by locals in the Ratnagiri region have led the Mahrashtra Government in India to relocate the gigantic project to the neighbouring district of Raigad. The new site is around 10,000 acres and is being identified as a better option than the former Ratnagiri land. read...

Petrofac Collaborates with Marginal Field to Maximise Recovery

UK: Gas Resources

Petrofac Collaborates with Marginal Field to Maximise Recovery

21/06/2019 - Under the terms of the agreement, Petrofac and Marginal Field Development Company will join forces and operate gas to wire facilities for recovering marginal gas fields in the UK. The move is expected to maximise economic recovery and support the country’s clients. read...

Air Liquide Enters into Two Supply Agreements with Marathon Petroleum

USA: Oxygen Supply

Air Liquide Enters into Two Supply Agreements with Marathon Petroleum

20/06/2019 - Under the long term contracts, Air Liquide will supply Marathon Petroleum with 900 tonnes per day oxygen for the petroleum company’s refineries in Texas and Louisiana. Marathon Petroleum Corporation produces more than 3 million barrels per day of crude oil refining capacity across 16 refineries in the USA. read...

Articles

Characterization the Sealing Behavior: Talking Statistics

Sealing Statistics

Characterization the Sealing Behavior: Talking Statistics

29/11/2018 - Characterization the behavior of sealing elements using statical testing plays a vital role — When developing sealing solutions, statical testing is a mighty tool. Thus, understanding its methodology, its disturbances and variables becomes a decisive factor in the development process. Is there any standard procedure to determine sealing behavior? read...

NEWS

Total to Expand Giant Mero Field Development

Brazil: Oil Production & Storage

Total to Expand Giant Mero Field Development

Total’s Mero 1 project is progressing as per plan with a start-up scheduled in 2021. The company has also announced its plans to launch Phase 2 for the Mero project. The Mero 2 FPSO is expected to have a liquid treatment capacity of 180,000 barrels per day and is anticipated to begin by 2022. read...

Mc Dermott Wins Technology Contract from Ningbo Union King Polyester

China: Paraxylene Facility

Mc Dermott Wins Technology Contract from Ningbo Union King Polyester

The contract involves offering technology license, process design engineering, and operator training services for Ningbo Union King's 1,600 KTA paraxylene plant in Ningbo, China. Mc Dermott will be making use of the Lummus Technology for the facility. read...

Sabic and Exxon Mobil Move Forward with Gulf Coast Growth Ventures Project

USA: Plant Construction

Sabic and Exxon Mobil Move Forward with Gulf Coast Growth Ventures Project

The Gulf Coast Growth Ventures project includes construction of a chemical facility and a 1.8 million metric tonne ethane steam cracker in Texas, USA. The project is anticipated to create an economic output of 22 billion dollar plus during construction and 50 billion dollars during the first six years. read...

Total Commences Production in Culzean Gas Field

UK: Gas Development

Total Commences Production in Culzean Gas Field

With this move, Total aims to contribute to about 5 % to the UK’s gas consumption via the Culzean gas field. The Culzean project will include drilling of six wells, construction of three bridge-linked platforms as well as a FSO unit. read...

Shell to Sell Martinez Refinery to PBF Energy

USA: Business Deal

Shell to Sell Martinez Refinery to PBF Energy

Shell has reached an agreement with PBF Holding Company, a subsidiary of PBF Energy regarding the sale of Shell’s Martinez Refinery in California, USA. The deal is in line with Shell’s strategy to transform its refining business into a smaller and smarter portfolio. read...

Demand for Natural Gas to Grow in Next 5 Years: IEA

Market Scenario

Demand for Natural Gas to Grow in Next 5 Years: IEA

The main demand drivers behind this market scenario are the strong demand from Asian countries and further development of the international gas trade, according to the international Energy Agency (IEA). read...

Petrofac Wins 75 Million Dollar Contract from Petroleum Development Oman

Oman: EPCM

Petrofac Wins 75 Million Dollar Contract from Petroleum Development Oman

Petrofac has been awarded a procurement services project for the Mabrouk North East Line Pipe Procurement Project in Oman. The scope of work involves management of line pipe material from sourcing, technical and commercial evaluation, planning and control services with management and co-ordination of interfaces with all parties involved. read...

Exxon Mobil Announces Expansion Plan in Vaca Muerta Basin

Argentina: Oil Development

Exxon Mobil Announces Expansion Plan in Vaca Muerta Basin

Located in Argentina’s Bajo del Choique-La Invernada block, the project is expected to produce up to 55,000 oil-equivalent barrels per day within five years. In addition to this, it is also anticipated to complete 90 wells, a central production facility and export infrastructure. read...

Eurochem Opens One Billion Dollar Ammonia Plant in Kingisepp

Russia: Fertilizer Production

Eurochem Opens One Billion Dollar Ammonia Plant in Kingisepp

Eurochem has opened a new ammonia production plant in Kingisepp, Russia. The plant has the largest single-train production capacity in Europe, at 1 million tonnes per year. read...

Lyondell Basell Won't Acquire Braskem

Brazil: Discussions Ended

Lyondell Basell Won't Acquire Braskem

Lyondell Basell has ended discussions with Odebrecht concerning the potential acquisition of Braskem. The company is the controlling shareholder of São Paulo-based Braskem. read...

Exxon Mobil to Continue Growth Plans and Advance Lower-Emissions Technologies

USA: Emissions Reduction

Exxon Mobil to Continue Growth Plans and Advance Lower-Emissions Technologies

Exxon Mobil is progressing growth plans while researching technology breakthroughs to reduce emissions, Chairman and CEO Darren Woods told shareholders during the company’s annual meeting. read...

Exxon Mobil to Increase ‘Block 15’ Production Offshore Angola

USA: Oil Production

Exxon Mobil to Increase ‘Block 15’ Production Offshore Angola

Exxon Mobil along with its partners plan to further invest in Block 15 and aim to produce approximately 40,000 additional barrels of oil per day. The project is also expected to generate about 1,000 local jobs during construction. read...

Chiyoda Group Announces EPC Contract for Onshore LNG Project

Mozambique: Engineering

Chiyoda Group Announces EPC Contract for Onshore LNG Project

Chiyoda Group with its JV partners Saipem and Mc Dermott International will be responsible for carrying out the project. Under the terms, Saipem will execute the project while Mirai Engineering Italy will offer specified technical support. read...