Industry News

Russia eyes petrochemicals as answer to crude oil reliance

On a sprawling construction site in Western Siberia, about 20,000 workers are busy building what will be one of the world's five biggest petrochemical plants, part of a play by Russia to capture more of the value from the oil it produces.

Shell Lubricants unveils the 'Power of Partnerships' campaign

Shell Lubricants, the global market leader in finished lubricants, launched 'Power of Partnerships' in Mumbai, to encourage industry collaboration and harness relationships to achieve operational efficiency together.

Japan's Inpex expects to ship first LNG cargo from Ichthys site in Aus by end-Sept

Japan's Inpex Corp expects to ship the first liquefied natural gas (LNG) cargo from its giant Ichthys LNG project in Australia by the end of September, an industry source with knowledge of the matter said.

Orbital Gas U.K. secures second biomethane contract from major European industrial company

CUI Global, Inc. announced that its wholly-owned Energy subsidiary, Orbital Gas Systems Ltd. ("Orbital UK" or the "Company"), was awarded a second contract valued in excess of $500,000 for a biomethane-to-grid unit by a major European industrial company.

API: U.S. petroleum demand sustains its highest level in 11 years

The American Petroleum Institute (API) reported that the first four months of this year saw U.S. petroleum demand average 750,000 bpd above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 MMbpd of oil.

SDX Energy confirms significant discovery in South Disouq, Egypt

SDX Energy Inc., the North Africa focused oil and gas company, has announced the positive results of the well test conducted on the Ibn Yunus 1X well, following the recent conventional natural gas discovery at South Disouq, Egypt.

Colombian oil revival hopes face electoral test

An upcoming election and auction round will help determine the country's oil fortunes

Land acquisition woes thwart India's mega refinery plan with Saudi Aramco

MUMBAI/NEW DELHI, (Reuters) - At the International Energy Forum in Delhi in April, the world's top oil producer Saudi Aramco inked a preliminary deal to partner with a consortium of Indian players to build a $44 billion refinery and petrochemical project on India's west coast.

COLUMN: Expected LNG surplus evaporates, scramble for new projects looms

Liquefied natural gas (LNG) producers around the globe are once again considering new investments as expectations of a glut in supply wither away in the face of strong, China-led demand growth in Asia.

Total stops Iran gas project as risk from sanctions too high

Total SA said it will not risk investing in Iran following the return of U.S. sanctions, unless it can secure a waiver.

Crude rises to $80/bbl for first time since 2014

Oil rose to $80/bbl for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of renewed sanctions on OPEC member Iran.

FERC OK's New Atlantic Sunrise Operations

FERC has authorized additional Atlantic Sunrise Pipeline operations that add 150,000 MMcf/d of incremental capacity and enable bi-directional flow on Transco's existing system.

LNG Canada committed to starting construction on project in 2018

he chief executive of the LNG Canada project on British Columbia's northern coast said that the company was committed to starting construction on the C$40 billion ($31.1 billion) liquefied natural gas export project this year.

GTT receives notification for the order of two new LNG carriers

GTT has received an order notification from an Asian shipyard for the design of the LNG tanks of two new LNG carriers (LNGCs). These vessels will be built on behalf of a European shipowner.

ADNOC and Ravago Group explore collaboration opportunities at Ruwais Industrial Complex

The Abu Dhabi National Oil Company (ADNOC) announced that it has signed a Memorandum of Understanding (MOU) with Ravago Group (Ravago), a leading service solutions provider in the global polymers and chemicals market, to explore opportunities for cooperation at the Ruwais Industrial Complex in the UAE.

Bunge cuts biodiesel output in German refinery

U.S. agribusiness group Bunge said on Wednesday it was reducing biodiesel output at a German refinery, the latest in a series of production cuts in Germany following a surge of cheap imports of the green fuel into Europe.