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Business Trends: Standardized modularization—Drivers, challenges and perspectives in the oil and gas industry
Modularization is an alternative way of performing engineering aimed to reduce the number of interfaces, the total installed cost (TIC) and overall schedule length of a project, while optimizing the return on investment (ROI) and allowing standardization for similar future projects.
Industry Perspectives: What is the solution to comply with the IMO’s Global Sulfur Cap regulation?
In October 2016, the International Maritime Organization (IMO) announced that it will implement a new regulation that calls for the sulfur content in marine fuels to be reduced from 3.5% to 0.5%.
Editorial Comment: Petrochemical project announcements top $80 B since 2014
Although new petrochemical project announcements have fallen over the past 3 yr, the global petrochemical sector will continue to see strong growth through the end of the decade.
IEA says oil prices will not jump sharply, despite OPEC supply cuts
NEW DELHI (Reuters) -- The International Energy Agency does not expect a major increase in global oil prices despite efforts by OPEC and non-OPEC members to reduce output, its executive director Fatih Birol told Reuters.
ExxonMobil Chemical to expand global hydrocarbon fluids capacity by 250 Mtpy
HOUSTON -- ExxonMobil Chemical Company, a division of ExxonMobil Corporation, announced that it is expanding the capacity of its global hydrocarbon fluid assets by more than 250 Mtpy at its world-scale petrochemical sites in Antwerp, Belgium; Baytown, Texas; and Jurong Island, Singapore.
Rosneft-led deal to buy India's Essar delayed, seen closing in April
NEW DELHI/MOSCOW (Reuters) -- The purchase of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft has been delayed, the two sides said on Friday, because some Indian lenders to Essar have yet to sign off on the deal.
Carbon Clean Solution, Veolia partner for large-scale CO2 capture, industrial re-use
Veolia, the global leader for optimized resource management, announced the signing of a new partnership agreement with Carbon Clean Solutions Limited (CCSL), a global leader in low-cost carbon capture technology, for the large-scale rollout of CCSL’s patented carbon dioxide (CO2) separation technology.
Egypt to halve arrears with oil companies in coming weeks
RAVENNA, Italy (Reuters) -- Egypt expects to cut the $3.5 B euros it owes to international oil companies by around half in coming weeks, the Egyptian oil minister said on Wednesday.
China, EU reaffirm climate action after Trump backs away
BEIJING/OSLO (Reuters) -- Nations led by China and the European Union rallied around a global plan to slow climate change on Wednesday after US President Donald Trump began undoing Obama-era plans for deep cuts in US greenhouse gas emissions.
BP sees trading benefits from oil boom in the Americas
LONDON (Reuters) -- Oil major BP expects its trading operations to benefit from growing global crude trade on the back of abundant US, Canadian and Brazilian production and rising energy demand in Asia, a top BP executive said.
- CNOOC completes construction on $2.9-B, 1.8-MMtpy integrated complex in east China 8/22
- bp's Whiting refinery (U.S.) continues to flare days after severe thunderstorm 8/22
- Bachmann introduces latest version M-Target for Simulink 8/22
- U.S. to rule on biofuel waivers, but big oil refiners may need to wait 8/22
- Chinese independent refiner Hongrun buys Canadian, Brazilian crude 8/22
- Ukrainian attack suspends Russian oil flows to Hungary, Slovakia 8/22
