Petrochemicals
Crude oil prices forecast to decline beginning in the second half of 2023
In the EIA's January 2023 Short-Term Energy Outlook, it was forecast the Brent crude oil price (the global benchmark) will rise from an average $81 per barrel (b) in December 2022 to average $83/b in the first quarter of 2023.
Green industries could be worth $10.3 T to economy by 2050
Industries helping the world shift to net-zero emissions could be worth $10.3 T to the global economy by 2050, sustainable development consultancy Arup and economics advisory firm Oxford Economics said in a report on Tuesday.
Sinopec releases China Energy Outlook 2060, anchoring new path of energy transformation development
This is Sinopec’s first publicly released research findings of their medium and long-term energy outlook, providing a new perspective for the scientific planning of transformation and development of China’s energy and chemical industries.
Maire Tecnimont signs already announced $1.3 B EPC petrochemical contract
The $1.3 B EPC Lump Sum contract, already announced on December 21, 2022, is part of this complex and has been awarded to Tecnimont by a Joint Venture composed of QatarEnergy and Chevron Phillips Chemical.
QatarEnergy, Chevron Phillips Chemical to begin construction on integrated polymers complex
QatarEnergy and Chevron Phillips Chemical Company LLC announced they will proceed on construction of a $6 B integrated polymers complex in Ras Laffan Industrial City, Qatar.
Samsung Engineering receives an ethylene project contract from Ras Laffan Petrochemicals in Qatar
Samsung Engineering will be in charge of the major ethylene production facilities with its scope of work including furnaces, C2 hydrogenation, hydrogen purification unit and three main compressors.
Technip Energies wins large project management consultancy contract by Kuwait Oil Company
The five-year framework agreement contract covers front-end engineering design (FEED), project management, and associated services for KOC’s major projects.
Kuwait's Al Zour offers more low-sulfur fuel oil for January
Kuwait has issued a tender offering three cargoes of low-sulfur fuel oil (LSFO) from its Al Zour refinery, ramping up volumes for January compared with previous months.
Maire Tecnimont Group wins new contracts for approximately $280 MM
Maire Tecnimont announced that its subsidiaries Tecnimont, KT-Kinetics Technology and Stamicarbon have been awarded several new contracts for an overall value of approximately $280 MM.
Energy commodity prices in 2022 showed effects of Russia’s full-scale invasion of Ukraine
After increasing 68% from January through June, the energy component of the S&P Goldman Sachs Commodity Index (GSCI) ended the year 10% higher than the first trading day of 2022.
- thyssenkrupp Uhde completes pre-FEED for HAMR Energy’s renewable fuels project in Australia 8/21
- U.S.: Indiana's bp refinery restarts after severe flooding 8/21
- Berlin weighs trusteeship extension for Rosneft's German assets 8/21
- Trump administration to rule on biofuel exemption requests, delay reallocation decision 8/21
- TotalEnergies' Donges refinery fire extinguished 8/21
- CMB.TECH completes merger with Golden Ocean 8/21
