Published on February 23, 2018
Duqm Refinery announced the signing of three major contracts with engineering, construction and procurement (EPC) contractors for the construction of the 230,000 barrels per day refinery in Duqm. The first EPC package (process units) has been awarded to a joint venture of Técnicas Reunidas and Daewoo Engineering & Construction. The second EPC package (utilities and off-sites) has been awarded to the joint venture of Petrofac International and Samsung Engineering. Third EPC package (of ..
Published on February 22, 2018
The proposed petrochemical complex at Kakinada in Andhra Pradesh, a joint project of GAIL and HPCL seems to have hit a roadblock with the Centre asking the state government to pay Rs 5,000 crore upfront in the form of viability gap funding. The complex at Kakinada, East Godavari district, is proposed to be jointly set up by GAIL and HPCL, both central PSUs. The proposed complex, with a cracker unit, was supposed to produce ethylene and its derivatives. After a feasibility study by Engineers ..
Published on February 21, 2018
Many leading manufacturers of Styrene have announced force majeure due to extreme cold weather. Consumer facility in Lousiana earlier announced force majeure at their Louisiana based unit. The shut down now has been extended till mid-April. Cosmar has got two Styrene Monomer units having the total production capacity of 1.15million mt/year. On similar grounds SABIC announced a force majeure on styrene in the last week of January due to extreme cold weather. The styrene force majeure was expecte ..
Published on February 20, 2018
The Ministry of Commerce of the People's Republic of China announced the anti-dumping duties of 5%-10.7% would be implemented on styrene monomer from South Korea, Taiwan, and the US, with effect from February 13. The duty varies according to the company from which the cargo is produced, and will be paid to China's General Administration of Customs. The Hanwha Total Petrochemical Company with dutiable level of 7.8%, Yeochun NCC Company with 7.8%, Lotte Chemical Corporation with 8.4% LG Chemical w ..
Published on February 19, 2018
The proposed petrochemical complex at Kakinada in Andhra Pradesh, a joint project of GAIL and HPCL, seems to have hit a roadblock with the Centre asking the state government to pay Rs 5,000 crore upfront in the form of viability gap funding (VGF). With certain legal technicalities between state government and central government the project seems be under uncertain. The proposed complex, with a cracker unit, was supposed to produce ethylene and its derivatives. The state government has submitted ..
Published on February 16, 2018
Baghdad signed a deal in late January with a consortium of Chinese investors to develop a world-scale refining and petrochemical complex in the south of the country. With recapturing of territory in the north and west last year, the area has increasingly been the focus of efforts to improve downstream provision. Two Chinese companies had been selected to develop a 300,000- bpd export refinery and petrochemicals complex on the Al-Fao peninsula in the far south of Basra province. Al-Fao is where ..
Published on February 13, 2018
US based CB&I has won the contract for engineering and design services for the Methanol complex. The contract also includes terms for the exclusive selection of CB&I for the engineering, procurement and construction (EPC) of the four methanol trains to be developed at the site. The unit will be built at the gulf coast and will have the manufacturing capacity of 7.2 m tonnes/year. This unit uis regarded as the world’s largest methanol production complex, the facility is expected to ..
Published on February 12, 2018
Iran's annual petrochemical revenue has averaged $20 billion in the last five years, Oil Minister Bijan Namdar Zanganeh said. “To increase non-oil exports, we should raise petrochemical investments and avoid selling raw materials,” IRNA quoted Zanganeh as saying, adding that the country is in need of foreign finance and know-how to materialize its development plans. Tehran earned $9.55 billion in revenues from petrochemical exports last year, official data show. Petrochemical consi ..
Published on February 10, 2018
Many new units are likely to start their production line for methanol in US in this year. The major chunk of production is expected to be consumed by China. In a recent meet, industry experts believe that most of the demand growth is from China and majorly depends on its MTO units. The new methanol units based US are likely to driven by Chinese consumers. The rise in Methanol values in the end of year is very prominent but experts believe that this hike will not get over completely but will see ..
Published on February 9, 2018
Saudi Aramco and Malaysian refinery Petronas are under process of signing a deal to take loan of 8 billion dollar which would partly finance the construction of their joint refining and petrochemical complex in Malaysia. The Malaysian refinery will have the capacity to refine 300,000 barrels of crude per day. It is expected to start up in 2019, producing gasoline, diesel, and feedstock for its integrated petrochemical complex to the tune of 3.5 million tons of products annually. According to Pet ..
