Economics
OCI Global completes $2.35-B sale of clean ammonia to Woodside
OCI Global announced the completion of the sale of 100% of its equity interests in its 1.1 MMtpy Clean Ammonia project under construction in Beaumont, Texas to Woodside Energy Group Ltd for $2.35 B.
Big U.S. oil companies reveal massive payments to foreign governments
The three largest U.S. energy exploration companies paid more than $42 B to foreign governments last year, about eight times more than what they paid in the U.S.
Exxon director joins Elliott group seeking to acquire Citgo Petroleum
ExxonMobil board director Gregory Goff recently joined a newly formed Elliott Investment Management-backed company seeking to acquire control of Venezuela-owned oil refiner Citgo Petroleum.
Funds approach Eni for second biofuel stake sale as it readies deal with KKR
Suitors have approached Eni over the potential sale of a second stake in its biofuel unit Enilive as the Italian group discusses the final details of a deal to sell a stake in the unit to KKR.
Refinery/petrochemical makeup water treatment: A general guide for technical personnel—Part 2
A very important—and sometimes overlooked—unit operation within processing facilities is makeup water treatment for steam generators and other processes. Many cases have been documented in which makeup system upsets have led to boiler tube failures that partially or completely shut down unit processes. This article serves as a guide for those employees who may be on a steep learning curve when it comes to makeup system understanding.
Russian ESPO Blend oil jumps to premium on higher demand from Chinese refiners
Russia's Far East ESPO Blend oil grade has firmed to premium against the Brent benchmark on delivery basis for the first time since November 2023 on higher demand from Chinese refiners cooling India's buying.
Vertex Energy files for bankruptcy, explores sale
Vertex Energy has filed for bankruptcy in a Texas (U.S.) court, just months after it paused renewable diesel output at an Alabama refinery over macroeconomic woes.
Marathon, Teamsters negotiations remain at standstill as strike enters third week
Marathon Petroleum and the Teamsters union, which represents refinery workers in Detroit, Michigan (U.S.), are at a standstill as negotiations for a new labor agreement stagnate and the strike at the plant enters its third week.
Prompt engineering: Extracting operational excellence knowledge from AI—Part 1
Prompt engineering is an emerging discipline at the intersection of AI and process engineering and will undoubtedly contribute to the hydrocarbon and green molecules processing industries. Parts 1 and 2 (October 2024) of this article explore and provide a glimpse of how this technique can help process engineers and operators to manage the power of advanced AI models to optimize processes, contribute to solve complex problems, and improve operational efficiency in refineries and petrochemical plants.
Chinese court declares another Sinochem refinery bankrupt
A Chinese court has declared bankrupt a third refinery owned by state oil and chemical group Sinochem, a court document showed. The Changyi city court also ended reorganization procedures at the refinery, Shandong Changyi Petrochemical.
- Chiyoda, AVEVA forge strategic partnership to power plantOS with AVEVA CONNECT 6/27
- SABIC announces closure of Olefins 6 facility in Teesside, UK 6/27
- LyondellBasell's polyolefin technologies selected by SHCCIG Yulin for petrochemicals complex in China 6/27
- Damaged unit of Iran's South Pars refinery back operating 6/27
- hte conducts research for JGC to advance decarbonization by identifying suitable catalysts for ammonia cracking 6/26
- TES and CPC Finland to develop 500-MW e-NG project in Finland 6/26
