Oil Price Iran’s exports of crude oil, condensates, and petrochemical products hit their highest level in the Iranian month of November since 2018, when the U.S. reimposed sanctions on the Islamic Republic’s oil industry, Petroleum Minister Javad Owji said. “Iran’s oil industry is currently at the forefront of the economic war and the highest sanctions have been imposed on the industry,”
From Bloomberg As fuel demand flattens, refiners shift production mix Global waste backlash is dimming rosy forecasts for growth As the world strives to wean itself off fossil fuels, oil companies have been turning to plastic as the key to their future. Now even that’s looking overly optimistic. The global crackdown on plastic trash threatens to take a big chunk
Aramco aims for world-scale petrochemical advances
From the Pittsburgh Business Times Work continues to ramp up at Shell’s petrochemical plant being built in Beaver County, with about 50 cranes on the site, including some of the world’s largest. There are so many cranes that they all can’t be seen in one view on the site, said Michael Marr, Shell’s business integration lead who provided an update on
As ADNOC preps $45 billion partnership to create the single largest integrated refining and petrochemicals destination in the world From Gulf News Abu Dhabi: Baker Hughes, a GE Company, is aiming to double its investments in the petrochemical industry in the UAE and also expand its footprint in the region due to growing opportunities driven by higher oil prices, a
Quantum Energy Partners and Stonecourt Capital LP have announced the formation of PetroLogistics II LLC, with founders David Lumpkins and Nathan Ticatch. PetroLogistics II, headquartered in Houston, Texas, plans to continue the strategy of its predecessor, PetroLogistics Company LLC. The newly formed company will acquire, develop and operate petrochemical manufacturing, processing and logistics assets in North America. Quantum, Stonecourt and
Incentives to draw PetroChem developers was Alberta’s royalty credits Inter Pipeline Ltd. (ticker: IPL) is getting help from the Canadian Government to build a world-scale integrated propane dehydrogenation (PDH) and polypropylene (PP) plant with a price tag of $3.5 billion. The facilities will be collectively referred to as the Heartland Petrochemical Complex, the $3.5 billion superstructure is designed to process
