Oxea is one amongst nine other companies that will be merging into the new energy firm OQ which intends to become one of the leading energy companies across the world. The new company also plans to capitalise on greater participation in the global hydrocarbon value chain.

An agreement was signed between Adnoc and Dubai Supply Authority following the discovery of 80 trillion standard cubic feet of shallow gas resources in Abu Dhabi and Dubai. With this agreement, the UAE aims to achieve its goal of becoming self-sufficient in terms of gas reserves.

A report by Brandessence Market Research titled ‘Industrial Catalyst Market’ predicts the global industrial catalyst market to be valued at 24.44 billion dollars by 2025. The report highlights that the Asia Pacific region will dominate the overall market across the globe.

The maiden long term contract between Indian Oil Corporation and Rosneft is in line with India’s strategy for diversifying the country’s crude oil supplies from non-OPEC countries. The move is also expected to bring about price stability and energy security for the Asian nation.

An agreement has been signed between both the parties under which UPM Biofuels will supply Bio Verno, a sustainable raw material to Ineos in order to produce bio-attributed polyolefins in Germany.

Altus Midstream’s Diamond Central cryogenic gas processing complex in Texas, USA marks the first global use of the Ortloff SRX technology from Honeywell UOP. The technology is capable of recovering natural gas liquids from feed gas.

The Abu Dhabi National Oil Company has entered into a strategic framework agreement with Eni under which both the companies will explore opportunities in carbon capture utilisation and storage (CCUS) and R&D across the oil and gas value chain. The move is in line with Adnoc’s sustainability goals.

Canada Kuwait Petrochemical Corporation has selected Heartland Canada Partners as the EPC contractor for its propane dehydrogenation (PDH) facility in Canada. The company expects the plant to commence commercial operations in 2023.

Exxon Mobil has set another benchmark by producing oil in the Liza field located offshore Guyana in record time. Production from the first phase of the field is anticipated to reach full capacity of 120,000 barrels of oil per day.

KSB South Africa in cooperation with Eagle Burgmann specified high-efficiency magnetic couplings to seal the shaft for the newly designed API 685 process pump. It was also decided to use the couplings from the proven MAK685 series because they reliably cover a broad application field in the higher pressure and performance range.