Economics
Aramco, Total sign Jubail refinery financing
SAUDI Aramco and Total have closed a low-cost, $8.5bn project financing for Saudi Arabia's Jubail export refinery. Signed in late June, the deal – the first project financing in Saudi Arabia to feature an Islamic bond – was comfortably oversubscribed, receiving commitments for over $13.5bn. The financing covers 70% of the total project cost; the remainder will be funded directly by the sponsors, working together as Saudi Aramco Total Refining & Petrochemical's (Satorp), of which Aramco holds 62.5% and Total the remainder.
IEA says China overtakes the US to become world’s largest energy consumer
IEA calculations based on preliminary data show that China has now overtaken the United States to become the world's largest energy user. China's rise to the top ranking was faster than expected as it was much less affected by the global financial crisis than the United States.
Norcorom refinery to change hands
AMIN subsidiary International American Refineries, Inc., has acquired all outstanding shares of Norcorom Industries. Norcorom owns a refinery in Ingleside, Texas, with a capacity of 40,000 bpd.
ABB snaps up K-TEK
ABB has completed its acquisition of the Prairieville, Louisiana, company K-TEK, which becomes part of the Measurement Products business unit within ABB’s Process Automation division.
CPFD Software set to distribute Barracuda in China
CPFD Software LLC, the creators of the Barracuda simulation package for particle-fluid systems, announced the signing of a distribution agreement with Hi-Key Technology to distribute and support Barracuda in China.
Refinery and petrochemical construction costs continue steady rise
The costs for designing and constructing downstream refining and petrochemical projects rose 1.5 % from Q3 2009 to Q1 2010, according to the latest edition of the IHS CERA Downstream Capital Costs Ind..
CITGO completes $2.1 billion refinancing
CITGO Petroleum has completed the refinancing of its $2.1 billion debt, which will extend the maturity of said debt and secure liquidity for its further operations.
Liquefied natural gas and North American shale gas: Room for both?
Let’s take a look at the drivers affecting these commodities
Materials market update: Opportunities in a challenging economy
As companies emerge from the downturn, new capital project models will be vital
Dynamic simulation of liquefied natural gas processes
Here’s how to improve the process design and operation of your facility
- Indonesia's Pertamina merges refinery and logistic units 2/5
- About 2 MMbbls of Venezuelan oil being shipped to Spain's Repsol for refining 2/5
- Aster to complete Singapore refinery expansion, berth works in 2H 2026 2/5
- India exports first fuel to Europe since ban on Russian crude-derived products 2/5
- Indonesia discussing oil refinery plan with India's Essar Group 2/5
- Nigeria's NNPC in talks with Chinese company on refinery rehabilitation initiatives 2/5
