Asia/Pacific
IEA cuts 2012 outlook for global oil demand growth, cites weaker economy
The IEA lowered its estimate for global oil demand growth in 2012 to 800,000 bpd, compared to its previous forecast of 1.1 million bpd amid weaker economic predictions. Global GDP growth is revised down to 3.3% for 2012, from the 4.0% level assumed since September, the agency noted.
Global paints, coatings demand to rise 5.4%/year through 2015 - study
Global demand for paints and coatings is forecast to rise 5.4%/year to 45.6 million metric tons in 2015, according to a new study. The Asia/Pacific region will remain the leading consumer of paint and coatings through 2015, and will also see the most rapid gains, according to the report.
Qatar inks Korea LNG deal as it boosts gas to Asia
Qatar said Thursday it has signed a deal to supply South Korea with 2 million metric tpy of liquefied natural gas, or LNG, for 20 years from 2013, the latest in a string of deals struck over the last two months with energy-hungry Asian countries. RasGas already supplies Kogas with 7 million tpy of LNG.
Saudi Aramco signs 20-year crude supply pact with Korean refiner S-Oil
South Korea-based refiner S-OIL said it signed 20-year long-term crude supply contract with Saudi Aramco. S-OIL’s refining capacity is 669,000 bpd and Saudi Aramco’s total annual supply volume to S-OIL is approximately 230 million bbl in respect of the refiner’s production size.
India boosts Iran oil imports, largely offsets China reduction - sources
India has boosted its imports of Iranian oil, becoming the Islamic Republic's largest customer last month and largely offsetting a cut in Chinese purchases as sanctions fail to dent Tehran's sales for now, people within the oil industry said this week. Iranian crude exports to India were up 37.5% from December.
BP to sell global LPG bottles, tank filling business
BP plans to sell its liquefied petroleum gas (LPG) bottles and tank filling operations in Portugal, UK, Austria, Poland, Netherlands, Belgium, Turkey, China and South Africa, as well as its non refinery-integrated wholesale business. The company expects to complete any deal by the end of 2013.
Global automation groups form single solution for device integration
The five major automation foundations have developed a single common solution for field device integration (FDI). FDI Cooperation’s mandate is to develop a single technology for the management of information that comes from all intelligent devices throughout all areas of the plant.
Shaw lands technology upgrading deal for FCC unit at Thailand refinery
The Shaw Group was awarded a contract to provide the technology license and process design package for the revamp of a residue fluid catalytic cracking (RFCC) unit for Star Petroleum Refining Co. in Map Ta Phut, Thailand. The upgrade will incorporate the latest advances in reactor system technology.
SI Group plans new phenolic resin plant in China
US-based SI Group said Friday that it plans to invest $30 million to build an additional phenolic resin manufacturing site in the Nanjing Chemical Industry Park (NCIP) in China. The site, chosen because of strong logistics operations and access to raw materials, is set to commence operation in May 2013.
PetroChina buys 20% stake in Canada shale gas project from Shell
Shell confirmed it agreed to sell a 20% stake in a Canadian shale gas project to state-controlled PetroChina, saying that the move was the latest example of its strategic co-operation with parent China National Petroleum Corp. The natural gas output of the Groundbirch project is 125 million cubic feet/day.
- thyssenkrupp Uhde to build a low-emission polyester plant for KÖKSAN in Turkey 4/9
- Honeywell to supply digital process and automation technologies to the Dangote refinery 4/9
- Technip Energies awarded contract for Long Son Petrochemicals enhancement project in Vietnam 4/9
- Japan weighs new release of about 20 days' worth of oil from reserves 4/9
- Germany probes Klesch's planned purchase of bp refinery 4/9
- Southern Energy Renewables and Axens Sign MoU to advance SAF projects in Louisiana and beyond 4/8
