Middle East
Technip to provide basic engineering, equipment for Saudi furnace project
Technip will provide basic engineering and proprietary equipment for a grassroots ethylene cracking furnace in Jubail, Saudi Arabia.
Qatar's Texas LNG venture eyes exports by 2021
Top LNG exporter Qatar anticipates exports from its Golden Pass JV in Texas to begin in 2021. State-run Qatar Petroleum owns a 70% stake in an LNG receiving terminal in Texas that is backed by Exxon Mobil and ConocoPhillips.
Saudi Aramco finalizes IPO options, plans more global expansions
Saudi Aramco's continued investment in downstream industry is seen as a crucial element of economic diversification plans.
Aramco eyes oil-to-chemicals project with SABIC
SABIC has previously said the proposed project could cost as much as $30 billion, processing petrochemicals directly from crude oil instead of first refining the oil into products such as naphtha.
India, Iran reach payment deal allowing refiners to buy Iranian crude
Indian refiners have been holding 55% of the oil payments to Iran after a prior route was halted in 2013. Iran was India's second-largest oil supplier before the recent sanctions.
Saudis raise crude oil pricing for Asian refiners by most in over a year
Refiners may choose to not take full contracted volumes, instead seeking alternative crudes on the spot market or access the large amount of crude stored around the region.
Saudi Arabia’s SABIC targets US shale as leading chemical feedstock
Saudi petrochemicals businesses have benefited in the past from feedstock subsidies that are being phased out as the government looks to bridge a substantial budget deficit after oil's two-year downturn.
Petrochemicals: The changing competitive landscape for GCC ethylene production
Much of the global petrochemical industry is built around the abundant oil and gas reserves of the Gulf Cooperation Council (GCC) countries.
Business Trends: Global petrochemical overview—Part 2
Part 1 of this series provided an overview on the present state of the petrochemical industry, a breakdown on construction project numbers by region, as well as major trends in Africa, the Middle East and the US. Part 2 examines the landscape in Asia-Pacific, Canada, Europe and Latin America.
Global Project Data
According to <i>Hydrocarbon Processing’s</i> Construction Boxscore Database, nearly 300 new downstream projects have been announced around the globe over the past year.
- ITT to acquire SPX Flow for > $4.77 B, expanding leadership in highly engineered components and adjacent flow technologies 12/5
- MOL Group introduces eco-friendly Bag-in-Box packaging for lubricants 12/5
- Addis Energy secures $8.3 MM to scale its transformative approach to low-cost ammonia production 12/5
- World Fuel Services supplies cruise line with waste-based biofuels 12/5
- Chevron announced $18 B-$19-B CAPEX budget for 2026 12/5
- Russia and India sign deal to build urea plant in Russia 12/5
