Middle East
Global diesel prices likely to weaken in 2014 with startup of Jubail refinery
In product markets, the new refinery will add to the supply of clean diesel in Saudi Arabia and Europe -- markets typically supplied by India. Since Indian refiners export diesel to so many markets, the appearance of this competing supply source may have bearish consequences for global diesel prices.
Qatar Petroleum, Total to build condensate refinery
Construction of the refinery, which will be operated by Qatargas, is expected to be complete by the second half of 2016 and will have a total capacity of 146,000 bpd. It will have a daily production capacity of 60,000 bbl of naphtha, 53,000 bbl of jet fuel, 24,000 bbl of gas oil and 9,000 bbl of LPG.
Praxair opens largest Bahrain air separation plant
Praxair's plant has the capacity to produce 350 tpd of oxygen, making it the largest air separation unit in Bahrain. The air separation unit will also produce liquid nitrogen, oxygen and argon to supply a diverse group of customers in the regional merchant market, including refineries and chemical plants.
IEA warns of no progress on clean energy goals
The IEA estimates that a cut in the carbon emissions per unit of energy of more than 60% is needed to prevent global average temperatures rising by more than two degrees Celsius in the long term, and maintaining current levels would yield a temperature increase of six degrees Celsius.
Fluor wins FEED work from BP, Shell for clean fuels project in South Africa
The project will enable a substantial upgrade of the SAPREF refinery, thereby improving the quality of transportation fuels by reducing levels of sulfur, benzene and aromatics and meeting enhanced legislative requirements. The deal allows for a possible EPCm contract to be signed at a later date.
Technip wins engineering work on sulfur recovery project at Bahrain refinery
Technip's work includes the engineering, procurement, construction, pre-commissioning as well as commissioning and start-up assistance. The project will ensure that the #3 unit is capable of safely burning sour water stripper off gas and becomes a viable spare for the new #4 sulfur recovery unit.
IEA cuts global oil demand outlook, warns on supply
The downward revision by the Paris-based consumer group reflects similar moves by other industry forecasters as concerns over the global economy continue to weigh on demand expectations. The decline reflects very weak demand from industrialized countries, particularly in Europe.
SABIC plans new US ethane cracker, possibly more
Mohammed Al-Mady, CEO of SABIC, said the company is in talks with partners to invest in one or perhaps two projects. The plans for a new ethylene plant are based on an abundance of cheap ethane feedstock derived from the ongoing US shale boom. The company did not disclose a specific location.
Eni crude business in Iran may lead to US sanctions
Eni's daily output in Iran averaged 3,000 bbl of oil equivalent in 2012, representing less than 1% of the company's total production. Eni said its refining and marketing division bought 498,000 metric tons of Iranian crude in 2012, paying the country's state oil company $396 million.
Saudi downplays shale boom outside US, Canada
The extra supply is not a competitive threat because it costs more to produce than oil in most of OPEC's member countries, a Saudi official said. "There are many difficulties that face the production activities of shale oil... most importantly, the high production cost which amounts to about $70 to $80/bbl."
- AVTL to develop ammonia terminal in Pipavav, India 6/20
- Chevron seeks buyers for 50% stake in Singapore refinery 6/20
- Asian refiners seek more Mideast oil after spot premiums jump on Israel-Iran conflict 6/20
- Mexican authorities discover clandestine mini-refinery in crackdown of illegal hydrocarbon trade 6/20
- Italy's Eni eyes new unit to manage oil refineries 6/20
- Inatech's Techoil implemented by Flint Hills Resources for a modern, integrated future 6/20
