Middle East
Global refining catalyst market driven by growth in hydroprocessing
The market improvement is led by demand for cleaner fuels, increasing use of heavier and dirtier feedstocks and additions to refining capacity, a new study says.
Grace venture to build FCC catalysts plant in UAE
W. R. Grace & Co. has signed a memorandum of understanding to form a joint venture with Al Dahra Agricultural Co. to build and operate a fluid catalytic cracking (FCC) catalysts and additives plant in the Middle East. The production plant would be located in Abu Dhabi and start up in 2015.
Sasol finds alternate oil supply amid Iran sanctions
South Africa's Sasol said Thursday it has found suppliers to replace the crude oil it normally sources from Iran as the West imposes trade restrictions and sanctions on the Islamic Republic. Sasol relies on Iranian oil imports for about 20% of its crude requirement, or 12,000 bpd, at its Natref refinery.
Refining deals up sharply in 2011 amid shedding of global assets
Refiners realigned their corporate strategies in 2011, with many shedding refining assets and others choosing to exit the sector altogether, according to a new report.
US to exempt EU, Japan on Iran oil sanctions
The US has decided to grant exemptions to Japan and 10 European Union (EU) countries under a new set of Iran oil sanctions, a key lawmaker said. Aimed at shutting down Iran's nuclear program, the sanctions target financial institutions that do business with Iran's Central Bank, a main conduit for Iran's oil sales.
Shaw, Total form global alliance on polystyrene
The Shaw Group said Monday that it formed an exclusive alliance with Total Petrochemicals to jointly market and license Total’s polystyrene technology on a worldwide basis. Shaw has had a similar alliance with Total Petrochemicals for styrene monomer, the primary feedstock for polystyrene, for 15 years.
EIA raises oil price forecast for 2012
In its March "Short-Term Energy Report," the DOE/EIA raised its oil price forecast for 2012 to $106/bbl, up $5/bbl from the previous forecast amid concerns over geopolitical tensions in the Middle East, growth in world demand and supply constraints in non-OPEC countries.
OPEC pins high oil prices on speculators, IEA warns of supply woes
Leaders of some of the world's largest oil producing nations Wednesday pinned current high oil prices primarily on market speculators, just as consuming nations warned that even present increased output levels are being more than offset by numerous supply problems.
Oil producers start to worry about rising prices
As they prepare to meet with consumers at an energy summit in Kuwait, some of the world's top oil producers voiced concern that rising oil prices may backfire by jeopardizing a global economic recovery. The UK's Brent contract has risen by 17% since the start of the year amid tensions with Iran.
OPEC says Asian growth offsets low OECD demand
The fundamental forces driving the world oil market were broadly stable in February, due to the familiar pattern of consumption growth in Asia offsetting weaker demand in the West, the Organization of Petroleum Exporting Countries said Friday. Recent data hasn't been encouraging, it said.
- SkyNRG starts construction on its first SAF plant in Delfzijl, the Netherlands 2/13
- India's Reliance wins U.S. license for Venezuelan oil 2/13
- Singapore light distillates stocks hit over 3-yr high on robust imports 2/13
- Three contractors injured at ExxonMobil facility in Beaumont, Texas (U.S.) 2/13
- China's epic renewables boom lifts it into rare clean capacity club 2/13
- TotalEnergies booked loss in France due to refining activities, CEO says 2/13
