Asia/Pacific
Toyo lands engineering, construction deal on China caprolactam venture
Toyo Engineering Corp. has been awarded a contract for a caprolactam plant for DSM Nanjing Chemical (DNCC), a joint venture company between Royal DSM and Sinopec. After the completion of the new project, DNCC will become the largest caprolactam producer in the world with 400,000 tpy of capacity.
Global oil, gas leaders see higher 2012 spending as industry confidence rises - poll
Oil and gas industry leaders have forecast improved performance and higher levels of capital expenditure in 2012 despite concerns over global economic instability, according to a new report on the future of the sector. North America is emerging as the area with the greatest opportunities in 2012, the poll shows.
Foster Wheeler to design new India LNG terminal
Foster Wheeler has been awarded a contract for a new LNG receiving terminal to be built in Ennore, in the state of Tamil Nadu, India. The LNG terminal facilities are planned for completion by 2015-16.
CNPC inks deal with Shell, Qatar for China refinery, petrochemical project
China National Petroleum Corp. (CNPC) said Thursday that it signed a deal with Qatar Petroleum and Shell to build a refining complex in the eastern Chinese city of Taizhou. The project will import condensate and raw materials to produce ethylene and other petrochemical products.
Samsung, Total tap UOP technology on South Korea petrochemical, fuels venture
Honeywell’s UOP has been selected by the Samsung Total Petrochemicals Co. joint venture to provide technologies for the production of key petrochemicals and high-quality diesel and jet fuel at its complex in Daesan, South Korea. The units are expected to start up in 2014.
Methanex secures gas supply deal, plans restart of New Zealand methanol plant
Methanex says it plans to restart the second methanol plant at its Motunui site in New Zealand. The company signed a 10-year agreement with New Zealand-based Todd Energy to supply natural gas for up to half of the 1.5 million tpy of capacity at the Motunui site.
IEA lowers forecast for China oil demand, output
The IEA said Wednesday that it would slightly lower its 2012 forecast for Chinese oil demand and output due to a slowing domestic economy and the unexpected decline of both onshore and offshore production. But China's crude runs may remain high due to new refineries in Yinchuan and Beihai.
BP unveils global energy outlook through 2030, boosts demand estimate
Global energy demand will continue to grow over the next 20 years, albeit at a slowing annual rate, fueled by economic and population growth in non-OECD countries, BP said in its Energy Outlook 2030 report. The demand projection is up 1.2% from the year-earlier estimate.
Foster Wheeler lands engineering deal for Petron refinery upgrade in Philippines
Foster Wheeler says it has been awarded a contract by Petron for the company’s refinery upgrading project in Bataan, Philippines. The delayed coker unit will have a design capacity of 37,500 bbl per stream day and is a key part of the refinery upgrade.
UAE, China ink energy cooperation agreements
United Arab Emirates said Tuesday that its Abu Dhabi National Oil Co., or ADNOC, signed an energy cooperation agreement with China National Petroleum Corp., or CNPC. The agreement aims to enhance cooperation in areas such as petrochemicals, technical services, engineering and construction services.
- U.S. labor board judge rules Exxon's Texas refinery union lockout was legal 11/28
- U.S. crude stocks fall, gasoline and distillate inventories rise 11/28
- Maersk could use 15%–20% alternative fuels for its fleet in 2030 11/28
- Germany's BSW pushes to restore Russian oil to Schwedt refinery, seeks regional legitimacy 11/28
- Asia likely to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs 11/28
- Singapore distillates stocks tick up for fifth week 11/28
