Published on September 27, 2018
Lihuayi Group Co. Ltd. subsidiary Lihuayi Lijin Refining & Chemical Co. Ltd. (formerly Lijin Petrochemical Plant Co. Ltd.) has let a contract to KBR Inc. to supply technology licensing, catalyst, and basic engineering design services for an olefins production unit at its 5.5 million-tonne/year refining complex in Dongying, China. In addition to basic engineering design services, KBR will deliver licensing for its proprietary Catalytic Olefins Technology (K-COT) and Selective Cracking ..
Published on September 26, 2018
India’s crude oil demand is likely to escalate to 500 million tonnes per year by 2040, but increase in oil prices might act as a dampener for the rate of growth. Globally oil demand will increase by 15.8 million bpd from now till 2040. India’s growth of 5.9 million bpd will make up about 24 percent of the overall gain. India’s refining capacity would increase to about 439 million tonnes per year by the financial year of 2030 as new and existing refineries continue enhancing the ..
Published on September 25, 2018
A refinery joint-venture project between Petronas and Saudi Aramco is expected to be unloaded on Monday. The very large crude carrier (VLCC) Navarin carrying 1 million barrels each of Saudi Arab Medium crude and Iraqi Basra Light crude arrived at Malaysia on Sept. 21 and is now moored off the Pengerang oil terminal. The project, Refinery and Petrochemical Integrated Development (RAPID), is a $27 billion complex located between the Malacca Strait and the South China Sea, conduits for Middle Eas ..
Published on September 24, 2018
Rönesans Holding and Port of Rotterdam entered into a framework cooperation agreement for the development of a major petrochemical complex in Turkey on 17 September 2018. Rönesans Holding is leading the development of the Ceyhan Mega Petrochemical Industrial Zone in the south of Turkey with its planned petrochemical investment in the industrial zone. Along with this investment, Rönesans Holding will cooperate with Port of Rotterdam to develop the entire zone with additional ..
Published on September 22, 2018
The central government said it wants to promote environment friendly chemicals and petrochemical units. Chemicals and Petrochemicals Secretary P Raghavendra Rao said the government will encourage companies which promotes environment friendly units. He said the government was focusing at agro chemicals and petrochemicals sectors. According to analysis, chemicals will turn into a USD 384 billion industry by 2025. Government wants more chemicals and petrochemicals parks and it was trying to have c ..
Published on September 21, 2018
S-Oil has recently started on-spec production at its cracker. The cracker has an ethylene production capacity of 200,000 mt/year. Plant is located at Onsan in South Korea. ..
Published on September 21, 2018
Coal India Ltd (CIL), one of the world’s largest coal miner is planning to set up an Methanol plant in West Bengal state of India. According to Chairman of CIL, “Steps have been taken towards methanol production, with the Centre recently easing norms for Coal India (CIL) to extract natural gas, coal bed methane from coal seams”. The unit will have the production capacity of 6.76lakh metric tonne per annum. The Methanol plant will be set up Dankuni Coal Complex (DCC) of Sou ..
Published on September 19, 2018
Demand and supply, as well as the impact from a weakened Yuan, will dominate Asian petrochemical markets in the near term .As per source, Paraxylene market is likely to remain firm on strong November demand on production issues in Asia. Benzene prices will remain bearish due to an increase in supply for October and November. Ethylene is expected to remain stable in near term as market participants are waiting for a clearer price trend to emerge. Propylene market will probable see a boost i ..
Published on September 17, 2018
Russian refinery acquired the Essar Oil based in Jamnagar in 2017 and named it as Nayara Energy. The plan for expansion includes setting up of a greenfield petrochemical complex and ramping up its existing refining capacity from 20 million tonnes per annum (mtpa) to 46 mtpa at Vadinar near Jamnagar in Gujarat, according to two industry officials close to the development. The total investment for the project is estimated to be around Rs 1.5 lakh crore. The expansion plans also include increasing ..
Published on September 15, 2018
The Iranian government has announced a new rule for steel and petrochemical exports with immediate effect. According to the directive dated September 5, exporters of steel (including semi-finished, finished and downstream products) and petrochemical materials, must return all hard currency earned from overseas sales into the country within 60 days from the date of export. A steel trader said that considering the US restrictions imposed on Iran steel trade and banking transactions, the new re ..
