Middle East
Oil industry job site notes massive yearly decline from Libya amid civil unrest
Oil and gas industry job site OilCareers.com expressed concern over the Libyan market, citing a drastic decline in visits from the country. In April 2010, 4,149 visits were recorded. But in April this year, there were only 13 visits amid the nation’s ongoing civil war, officials said on Wednesday.
Global chemical M&A activity jumps sharply in Q1
Merger and acquisition (M&A) activity in the global chemicals industry jumped significantly in the first quarter of 2011 when compared to the same period of 2010, according to a study from advisory firm PricewaterhouseCoopers (PwC).
IEA warns that high oil prices are hurting economy, seeks additional supply for refiners
The governing board of the International Energy Agency (IEA) says it has serious concerns that that the rise in oil prices is constraining the global economic recovery. In a statement issued on Thursday, the board said there was a “clear, urgent need for additional supplies on a more competitive basis to be made available to refiners to prevent a further tightening of the market”, particularly given the seasonal increase in demand from May to August.
BASF awards Technip with umbrella contract for chemical project work
Germany-based chemical major BASF awarded Technip with an umbrella contract for engineering services on its chemical and petrochemical projects. Both companies are contemplating a long-term partnership, they said, which would provide BASF access to the resources of Technip for its capital investments notably in Europe, but also in other regions.
Saudi Aramco awards Jacobs with aromatics project work at Ras Tanura refinery
Jacobs has been awarded the Ras Tanura refinery clean fuels and aromatics project, the first major project received from its general engineering and project management services (GES+) contract with Saudi Aramco, the US engineering group said on Tuesday.
Siemens completes world's largest LNG train, raises Qatar output to 77mn tonnes/year
Siemens said it has successfully completed the world’s largest onshore liquefied natural gas (LNG) compressor “mega-train” for Qatargas in the Middle Eastern country of Qatar.
ExxonMobil, SABIC award contracts for elastomers project at Saudi petchem JV
Saudi Basic Industries Corp. (SABIC) and affiliates of ExxonMobil Chemical said that front-end engineering design (FEED) contracts were awarded and that all components are in FEED phase for the proposed new elastomers project at their Al-Jubail Petrochemical Co. (KEMYA) joint venture petrochemical plant.
IEA lowers estimate for 2011 oil demand growth
The International Energy Agency (IEA) lowered its projection for global oil demand growth in 2011, falling by 190,000 bpd, or 0.2%, from an earlier estimate.
Majority of energy execs see crude exceeding $120/bbl in 2011 - survey
Energy executives expect continued volatility in the price oil for the remainder of the year, with 64% predicting crude prices to exceed $120/bbl in 2011, according to a new survey.
Oman awards contract to Chevron Lummus for Sohar refinery expansion
Oman Refineries and Petrochemicals Co. (ORPC) will use ISOCRACKING technology from Chevron Lummus Global as part of its Sohar refinery expansion project, seeking to boost margins and increase production.
- Valmet to acquire Severn Group to strengthen Process Performance Solutions segment 12/22
- World’s first dynamic green ammonia plant starts operations in Denmark 12/22
- Baker Hughes to supply liquefaction equipment for Commonwealth LNG export project 12/22
- South Korea petrochemical firms on track to cut up to 3.7 MM tons of output 12/22
- MOL and JERA sign HoAs for the charter of ammonia carriers 12/22
- China's November fuel oil imports up 15% from October 12/22
