Economics
Hyundai Engineering lowers design costs with 3D technology
Hyundai Engineering used 3D technology to increase the efficiency of engineering design on their $2 B petrochemical plant project.
US crude, gasoline stocks build unexpectedly as refineries cut output
According to the US Energy Information Administration, US crude and gasoline inventories rose unexpectedly last week as refineries cut output.
EIA: Crude price differentials a factor as refining profits converge
Refinery earnings were lower in Q2 2016 compared with the same time last year and are converging among different locations globally.
Egypt plans to end fuel subsidies within three years
Egypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65% of their actual cost during the 2016/17 fiscal year.
Emerson to acquire valves & control business from Pentair
Emerson has signed an agreement to purchase the valves & controls business of Pentair for $3.15 B.
California sale of carbon permits falls short
California sold just over one-third of the carbon permits it offered to cover emissions this year, receiving the minimum price at an auction.
Sasol boosts Lake Charles ethane cracker price estimate by $2.1 B
Petrochemicals company Sasol Ltd. raised the price tag of its US ethane cracker project to $11 B from $8.9 B.
CIMIC Group issues update on Gorgon LNG lawsuit
Australia’s CIMIC Group Ltd. released a statement yesterday about a Notice of Dispute the company issued in February relating to the Gorgon LNG Jetty and Marine Structures Project.
China targets teapot oil refineries in tax crackdown
China's crackdown on alleged tax evasion in the oil industry will target independent refineries and follows complaints by state energy giants.
Column: China's fuel exports less worrisome than crude costs for refiners
China's booming fuel exports have contributed to a structural lowering of margins for the region's refiners, but fluctuations are still mostly linked to crude prices.
- Digital Feature (sponsored): Three questions oil and gas companies should ask to improve their operations risk management 3/6
- Nextchem awarded engineering/technology services contract from SATORP (Saudi Arabia) 3/6
- PBF Energy's Martinez refinery (California, U.S.) repairs to cost $30 million 3/6
- Lummus Technology, Resynergi announce commercialization of microwave-powered plastic pyrolysis technology 3/6
- Mercedes-AMG Petronas to use sustainable carbon fiber composites in Formula 1 racecars 3/6
- Vopak to build ethane tanks to support Thailand's petrochemical production 3/6
