Published on February 21, 2015
UAE’s oil and gas sector is feeling the heat from the record fall in oil prices in recent months. A recent survey recorded that a large number of the 200 firms it polled were expecting to add jobs in 2015. The growing sectors include financial services, retail, tourism and health care; and 91 per cent of those polled are expected to hire new employees. However, the job market for the oil and gas sector has softened following the oil market crash. The falling oil prices have led to a redu ..
Published on September 3, 2014
The two basic chemical – Phenol and Acetone, which in due course have become an essential ingredients in copious beneficial products that are mostly used by consumers in day to day life and it also allows manufacturing derivative products. The chemical Phenol consists of six-member aromatic ring, bonded directly to a hydroxyl group as it is also known as carbolic acid which is an organic compound, and as a precursor to many materials and useful compounds Phenol is produced on a large ..
Published on July 9, 2014
Gas shortage has put a stop to several petrochemical projects in Egypt. Lack of sufficient natural gas has pushed the government to focus on projects that rely on naphtha. Projects that have been affected include a fertilizer complex in the industrial zone west of Damietta port. The USD 2.2 billion project is expected to have a production capacity of 2 million tonnes of urea per year. A polystyrene complex in Dekheila port in Alexandria worth USD 408 million, with a production capacity of 200 ..
Published on May 17, 2014
In the year 2013, revenues earned by the Indian chemicals industry were in the range of USD 155-160 billion and in the next two to three years it is likely to rise at a rate of 11-12%, according to the global growth consulting firm Frost & Sullivan. Due to diminished industrial output, the global research firm expects commodity and bulk chemicals to experience slow growth whereas considerable growth is projected to see in the specialty chemicals segment. A multi-business entity SRF who ..
Published on March 29, 2014
The Ukraine-Russia crisis has been the talk of the town for the past few weeks. Experts have busy analysing the situation and the implications of this standoff for various nations. The impact on the Gulf region, however, is unclear. Trade exchanges between Ukraine and GCC countries are negligible. Exports from Ukraine to Saudi Arabia in 2012 were worth only $926 million. But this amount is equal to only 0.5 per cent of Ukraine’s GDP. In 2012, Saudi exports to Ukraine amounted to only $150 ..
Published on March 27, 2014
India witnessed the failure of the programme to blend 5 per cent of ethanol in petrol sold across the country, primarily due to incapacity of the oil marketing companies (OMCs) to get hold of the amounts at a reasonable price. The national level currently stands at a mere 1.5 per cent and it is way too early to even think about increasing the level to 10 per cent. Before the blending programme was implemented, ethanol produced in India was used for two purposes; one for the producing potable li ..
Published on March 15, 2014
Royal Dutch Shell recently announced a 71 per cent decline in profits and failed to accomplish production growth and shareholders return targets. Shell has made its presence known in almost 100 countries, produces 3.2 million barrels of oil per day and is one of the biggest energy companies. Shell paved the way for world’s first oil tanker. The company even discovered oil and gas fields of Nigeria, Brunei, Indonesia, Oman, Malaysia and New Zealand. But, the oil giant has been slammed by hu ..
Published on March 8, 2014
Northwest Innovation Works (China) has plans to build two mega-methanol plants at the Port of Kalama and Port of Westward near Clatskanie, US. China is one of the biggest consumers of methanol and is looking for a new supply. The plants in the country are polluting the air by burning coal to manufacture methanol, thereby enabling U.S. manufacturers to make methanol with cleaner and cheaper natural gas. China is likely to use up half the global production of methanol this year, demand is also ex ..
Published on October 8, 2013
INEOS Phenol and Sinopec Yangzi Petrochemical Company (Sinopec YPC) have decided to establish a petrochemical plant in China. The National Development and Reform Commission (NDRC) recently gave approval for this petrochemical plant, which is expected to produce 650,000 tonne phenol and acetone and 550,000 tonne cumene. The facility will have a production capacity of 400,000 tonnes of phenol and 250,000 tonnes of acetone. This ground-breaking project will be the largest phenol and acetone plant i ..
Published on September 24, 2013
Expedition on the discussions over joint ventures between the oil and the gas sector, have been agreed and brought on priority by the Kuwaiti Deputy Prime Minister and Minister of Oil Mustafa Al- Shimali and Indian Minister of Petroleum and Natural Gas M Veerappa Moily. An assured confirmation by Al-Shimali to Moily that Kuwait is open for further cooperation with Indian oil companies in refinery and petroleum projects to strength relations. Earlier as well, India and Kuwait have signed several ..
