The scope of work includes engineering, procurement, fabrication, and construction of the HDPE plant. Capable of producing 625,000 tonnes per year, the facility is expected to be complete by 2021.

The merger aims at establishing a leading independent European oil and gas company under the name Wintershall DEA. The new firm is expected to focus on international operations in core regions.

The pilot plant comprises a processing capacity of up to 100 kg per hour and can churn out 100 liters of synthetic crude per hour. The facility makes use of a thermo-chemical process to produce synthetic crude.

The U.S. Naval Research Laboratory (NRL) has been granted the first patent for a method to simultaneously extract carbon dioxide and hydrogen from seawater. This single process provides all the raw materials necessary for the production of synthetic liquid hydrocarbon fuels.

Both the firms have chosen Yanbu which is located on the west coast of Saudi Arabia as the site for establishing the project. On completion, the complex is expected to process 400,000 barrels per day of crude oil and produce approximately 9 million tonnes of chemicals and base oils in a year.

Clariant has signed an agreement for a new partnership with Neste on the supply of renewable hydrocarbons for its product development. In this way, the speciality chemicals company intends to increase the number of products in its portfolio that are derived from renewable raw materials.

The Abu Dhabi National Oil Company (Adnoc) and Mubadala Investment Company signed a framework agreement to explore together potential global growth opportunities that build on the partner's refining and petrochemicals assets. The oil company also announced an investment of $ 1.4 billion to upgrade and expand its Bu Hasa Field as it ramps up onshore crude production capacity.

Exxon Mobil has started operations of a new unit at its Antwerp refinery in Belgium to convert heavy, higher-sulfur residual oils into high-value transportation fuels such as marine gasoil and diesel.

The new strategy aims at making the UAE self-sufficient in gas reserves as well as a net gas exporter over a period of time. In terms of oil production, the company intends to escalate its capacity to 4 mmbpd by the end of 2020 and 5 mmbpd by 2030.

Under the long-term agreement, Praxair will construct two vacuum pressure swing adsorption plants at the facility and also utilise its proprietary HOB technology for increasing syngas yield from the gasification process.