Industry News

Aramco Plans $6 Billion Korean Refinery Boost to Place Saudi Oil

By nisa | 10th July 2019

Saudi Aramco is planning a $6 billion expansion at its South Korean refining unit as the state-owned producer signs deals to ensure long-term demand for its crude in Asia. Saudi Crown Prince Mohammed bin Salman took Aramco’s Chief Executive Officer Amin Nasser with him to Korea during a visit that saw a raft of deals…Read more

Iraq looks to Asia to bolster refining capacity

By nisa | 10th July 2019

Iraq, Opec’s second largest oil producer, will look to increase its refining capacity, damaged by decades of war, by turning its head to the Asian market, according to the country’s energy minister. There was a “crucial and urgent need” to bolster downstream capacity to stop its increasing reliance and demand for imported refined crude, said…Read more

Exxon Mobil Jumps Into Low-Sulfur Fuel Market

By nisa | 8th July 2019

Exxon Mobil Corp. plans to sell low-sulfur shipping fuels at seven ports in Europe and Asia in the coming months, becoming the biggest supplier so far to leap into the global market that is being transformed by rules to reduce pollution from merchant vessels. For major refiners, ship fuel has long been a convenient disposal route…Read more

Grace Acquires the Business of Rive Technology, Inc.

By nisa | 28th June 2019

COLUMBIA, Md., June 17, 2019 (GLOBE NEWSWIRE) — W. R. Grace & Co. (NYSE:GRA) today completed the acquisition of the business  and assets of Rive Technology, Inc., including its Molecular Highway™ zeolite technology. As part of the transaction, certain research and development, technical services, and commercial employees will join Grace. Financial details of the transaction…Read more

Latin America Refining Technology Conference (LARTC)

By nisa | 27th June 2019

The World Refining Association has been the world’s foremost for the refining industry for over two decades, with operations on every continent. As part of our activities we offer LARTC which is made up of two days of multi streamed strategic and technical content for refineries and petrochemical plants to address the key shifts in…Read more

Refinery of the future less focused on fuels

By nisa | 24th June 2019

The future may or may not bring flying cars, robot servants and immortality, but it’s bringing exciting changes to the business of refining petroleum. Those changes are opportunities to earn higher profits for plants that recognize how to leverage existing technologies to improve flexibility, integration and communication. Integrated refineries and petrochemical plants are the “Refineries…Read more

The global methanol market is predicted to rise with a CAGR of 5.66% for the forecast period of 2019-2027

By nisa | 20th June 2019

The global methanol market is predicted to rise with a CAGR of 5.66% for the forecast period of 2019-2027. The important drivers contributing to the market growth include the growing demand from the Asia-Pacific regions, increasing acceptance for MTO technology, the need for alternative transportation fuels, etc. The primary driver for the increasing growth of the global…Read more

Global crude demand to improve in H2 despite weaker OECD Asia petchems demand – OPEC

By nisa | 20th June 2019

LONDON (ICIS)–Global crude demand is expected to rally slightly from the sluggish level seen so far in 2019 in the second half of the year, with projected stronger demand from the Americas expected to offset contracting consumption in Europe and the Asia-Pacific region, OPEC said on Thursday. Demand growth in the closing six months of…Read more

Japan’s Inpex to build $18bn onshore LNG project in Indonesia

By nisa | 20th June 2019

Largest Japanese-operated plant looks to export to trade-war hit China TOKYO — Japanese oil and gas company Inpex is set to agree in principle with the Indonesian government to build a liquefied natural gas plant in Indonesia, Nikkei learned Friday. With an estimated total cost of 2 trillion yen ($18.4 billion) and annual production of about 9.5 million tons…Read more

New marine fuel rules to boost diesel prices for at least a year: analysts

By nisa | 14th June 2019

HOUSTON (Reuters) – Global prices for diesel and marine fuels should rise by October ahead of a January switchover to new, very low-sulfur marine fuels, and remain higher for at least a year as refiners shift production to make more of the new fuels, analysts said. Marine fuels containing no more than 0.5% sulfur by…Read more