Asia/Pacific
China approves BP plan for new Zhuhai PTA plant
The ‘Zhuhai 3’ plant will have a capacity of 1.25 million tpy and is expected to start up in late 2014. Zhuhai 3 joins two earlier phases of PTA units at the same location, bringing total capacity at the site to more than 2.7 million tpy. After the launch of Zhuhai 3, BP’s global PTA capacity will be 8.25 million tpy.
Swiss group Glencore to enter Japan LNG market
LNG is traded under either long-term contracts that can span more than two decades or short term contracts of four years or less. Glencore will focus on short-term spot trading, giving it flexibility to switch customers based on prices and increase earnings. The firm will utilize its existing sales network.
Foster Wheeler plans China substitute natural gas unit with Wison, Clariant
The pilot plant will demonstrate Foster Wheeler’s VESTA substitute natural gas (SNG) technology. Under the agreement, Wison Engineering will provide engineering and construction services, Foster Wheeler will license technology, and Clariant will supply the proprietary developed catalyst.
India looks to import more LNG from overseas
India is the fifth largest importer of LNG after Japan, South Korea, the United Kingdom and Spain, the minister said, adding that he expects the country's LNG demand to grow 5%-6% every year until 2020. India has already secured deals to import about 14 million metric tpy of gas.
US petrochemical companies seek exports to Asia
Hydraulic fracturing and other drilling technologies are keeping prices for natural gas -- a key raw material for Dow Chemical and other chemical producers -- below $4/MMBtu. That's cheap enough that the US chemical industry can start taking market share from Middle Eastern producers.
Emerson to supply valve technologies for Chevron gas project in Australia
The contracts include over 1000 control valves, valve controllers and actuators for applications ranging from inlet gas processing, acid gas removal, liquefaction and fractionation to anti-surge and cryogenic. The wide scope of applications is matched by various valve materials to withstand harsh conditions.
China's CNPC to join key Ecuador refining project
CNPC Chairman Zhou Jiping had signed a framework agreement with Ecuador's Coordinating Minister for Strategic Sectors and Petroecuador's President, under which CNPC "will take a share in the construction of the Pacific Refinery project and participate in the exploration and development."
IEA seeks new energy policy to cut GHG emissions
The International Energy Agency called on governments around the world to act to adopt better energy-efficiency measures, cut back on the use of inefficient coal-fired power plants, minimize methane emissions from oil and gas production, and accelerate the removal of fossil fuel subsidies.
Japan, Europe launch joint study to cut LNG prices
Supply and demand situations should decide prices, and the two sides will study how they can eliminate oil-link pricing and the possible ramifications by such an elimination, a top Japanese official said.
Construction approved for second Vietnam refinery
The $9 billion Nghi Son complex will have a refining capacity of 200,000 bpd. It is slated to process Kuwaiti crude supplied exclusively by Kuwait Petroleum International. Construction will begin in July and commercial operations are expected to start in the second quarter of 2017.
- 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
