Tuesday, May 18, 2021

Chemical News

World's First Barge-to-Ship Methanol Bunkering Carried out in Rotterdam

Image courtesy NYK Line

On May 10, 2021, the methanol-dual fueled chemical tanker Takaroa Sun, owned by NYK Bulkship (Asia) Pte. Ltd. participated in what is touted as the world’s first barge-to-ship bunkering of methanol fuel. The bunkering…

Great Ships of 2020: Seri Everest, World’s Largest Ethane Carrier

Photo Courtesy MISC Berhad

Seri Everest, the first in a series of three 98,000 cbm Very Large Ethane Carriers (VLECs) built at Samsung Heavy Industries Co., Ltd. (SHI) and delivered to MISC Berhad on October 30, 2020. Seri Everest is the first…

Fortescue Assessing Green Ammonia Plant in Australia's Tasmania

(Photo: Fortescue Metals Group)

Fortescue Metals Group said on Tuesday it was assessing prospects to build an ammonia plant in the southern island state of Tasmania, as part of its push to become a major renewable energy producer.The project would include…

Exxon Committed to Singapore Refinery Expansion

(File photo: ExxonMobil)

Exxon Mobil Corp said on Thursday it remained committed to expanding its refining-petrochemical complex in Singapore amid an ongoing review of its projects globally.Along with other oil producers, Exxon has been slashing…

Shell to Shut Its Convent, La. Refinery Amid Pandemic

(Photo: Jiri Buller / Shell)

Royal Dutch Shell said on Thursday it will shut down its refinery in Convent, Louisiana, the largest U.S. facility to close since the coronavirus pandemic first hit and devastated economic demand worldwide.The shutdown…

Baker Hughes Plots Low Carbon Future

Snam and Baker Hughes recently tested the world’s first hydrogen blend turbine for gas networks (Photo: Baker Hughes)

Baker Hughes is pivoting to customers preparing for the transition to a low-carbon future, bolstering its footprint beyond oil and gas oilfield services, its chief executive said on Tuesday.The company will continue to…

PipeChina to Buy $56B Worth of Pipelines

Illustration - hanmaomin

China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion).Under the deal…

China Grants Zheijang First Private Fuel Export License

Image by Grispb/AdobeStock

China has granted Zhejiang Petroleum & Chemical Co (ZPC) a license to export refined oil products, making it the first private oil refiner to win such permission, two sources with knowledge of the matter said on Thursday.The…

China's Sinopec Starts Hiring for New Risk Management Unit

Sinopec Logo: Image by Alexey Novikov - AdobeStock

China Petrochemical Corp, or Sinopec Group, has started hiring for six top management positions for a new commodities risk management unit, according to a statement posted on the state energy company's official wechat…

BP to Sell Petrochemicals Business to Ineos for $5B

Image Credit: BP

British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary, BP’s chief financial officer…

China to Boost Energy Reserve Capacity, Support Unconventional Gas Exploration

Illustratin; Image by xmentoys - AdobeStock

China said on Friday it will bolster the capacity of the country's energy reserves and offer lower gas and electricity charges to key industries, as it looks to ensure energy supply and offset the impact of the coronavirus…

Japan's JXTG to Spend $14B on Low-Carbon Transformation

JXTG Holdings Inc, Japan's biggest oil refiner, said on Wednesday it will spend 1.5 trillion yen ($14 billion) for the next three years to drive its transformation into a supplier of low-carbon energy and materials.The planned spending…

Cygnus 1 IS Gauge Certified to IECEX

(Image: Cygnus)

Cygnus Instruments announced its Cygnus 1 IS Ultrasonic Thickness Gauge now has IECEx Zone 0 Certification.In 1996 the IECEx was established through the initiative of the Ex industry and with support from certification bodies in the UK…

Linde, Hyosung to Build World’s Largest Liquid Hydrogen Plant in S. Korea

South Korea's Hyosung and the global industrial gases provider Linde Group will invest in the construction of a liquid hydrogen plant on an area of about 30,000 square meters within the site of Hyosung Yongyeon plant…

Exxon Posts First Loss in 30 Years on $3 Bln Writedown, Oil Plunge

© Alexey Novikov / Adobe Stock

Exxon Mobil Corp on Friday posted its first quarterly loss in three decades on plunging oil demand and collapsing prices, reporting a $610 million quarterly deficit after a nearly $3 billion inventory writedown.Global…

More Disruption and Uncertainty in Store for Petrochemicals

© Mohok / Adobe Stock

The impact of the coronavirus lockdowns on the oil, gas and chemicals industries’ integrated value chains is radically shifting relationships and profitability.It is also making planning virtually impossible, as BASF…

Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts

Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output.

OMV Sees Hope for Oil Price Recovery in Second Half 2020

For illustration only; An OMV offshore platform in Malaysia -  © OMV Aktiengesellschaft

Austrian energy group OMV sees hope for a recovery in oil prices in the second half of 2020 helped by increased fuel demand and output cuts by producers such as Saudi Arabia, its chief executive said.The spread of the…

U.S. Oil Firms' Quarterly Reports to Show Depths of Slump

Illustration by Namning, AdobeStock

Investors are in for more bad news on the energy front in the coming weeks as a host of the sector's biggest companies report quarterly results following the historic collapse in oil prices.Forecasts for U.S. energy sector…

New Enhanced Digital Smart Positioner

Photo: Rotork

Rotork has introduced the new digital smart positioner which is appropriate for both control and on/off valve applications where enhanced diagnostics are required. It is ideal for highly critical applications in chemical/petrochemical…