Economics
Japan oil firms lift annual spending on refineries, cut exploration
TOKYO (Reuters) -- Some Japanese oil companies have raised their capital investment plans for the year that started on April 1, putting money into refineries and other downstream projects, while others have focused on cutting spending on exploration and production.
BASF sees role of oil and gas unit declining further
MANNHEIM, Germany (Reuters) -- BASF, the world's largest chemicals maker, said its focus would be on boosting profitability at its chemicals and crop protection businesses as the contribution to earnings from oil and gas, hurt by low crude oil prices, diminishes further.
Shell proposes adding Russian oil to Brent benchmark
LONDON (Reuters) -- Royal Dutch Shell on Wednesday urged oil pricing agency S&P Global Platts to protect the dated Brent crude benchmark from declining North Sea supply by including other grades, such as Russian Urals, in its price-setting process.
Calif. Assemblyman Travis Allen files ballot initiative to repeal $52 B gas tax
SACRAMENTO, Calif. -- Travis Allen (R-Huntington Beach) filed an initiative to repeal the recently signed $52 B gas tax and move it to a vote of the California people in 2018.
Pemex seeks investors for its refineries, but who's buying?
NEW YORK/MEXICO CITY (Reuters) -- Sweeping energy reforms have turned Mexico into one of the world's most attractive offshore prospects, but one segment is getting no love from US investors: the nation's aging refineries.
ConocoPhillips to lay off 300 in Canada oil sands pullback
CALGARY, Alberta (Reuters) -- ConocoPhillips will lay off 300 Canadian workers after selling most local assets to domestic crude producer Cenovus Energy Inc, the Houston-based company said on Thursday.
UK oil lobby warns May post-Brexit tariffs could double trade costs
LONDON (Reuters) -- The cost of Britain's oil and gas trade with the rest of the world could nearly double if the country fails to agree new tariffs when it leaves the European Union, the country's oil lobby group has warned Prime Minister Theresa May.
Equipment critical analysis: The need for an effective maintenance program
Oil refineries and large petrochemical plants contain thousands of pieces of process and utilities equipment that are subject to wear, erosion, deterioration, aging, etc., resulting in increasing breakdowns and outages. Imagine being a maintenance engineer and receiving 50 work orders during an overhaul with a limited budget, time, labor, spare parts, tools, machines, etc. How does that engineer prioritize the work?
Global: The future growth of Argentina’s oil and gas industry hinges on additional investments
Attracting new investments is vital to revive the Argentine oil industry. It is essential to involve multinationals, due to the lack of financial resources of the Argentinian government. The modernization of the country’s downstream infrastructure is crucial to improve productivity, and the nation will need international support to obtain profitable results.
Industry Perspectives: Hydrocarbon Processing’s IRPC returns to Europe in June
Founded in 2009, Gulf Publishing Company and Hydrocarbon Processing’s International Refining and Petrochemical Conference (IRPC) provides a series of events for the international downstream industry covering technical innovations, and exploring both the challenges and opportunities found in today’s market.
- Kumho Mitsui Chemicals to increase capacity of MDI production facilities 12/15
- ABS, Eneos, NYK Line and Seacor Holdings launch joint study to develop a methanol marine fuel supply network in the U.S. 12/15
- ENEOS accelerates AI-driven materials discovery of immersion cooling fluids and novel catalysts Using NVIDIA ALCHEMI 12/15
- SAMSUNG E&A wins FEED contract for nearly $5-B SAF plant in the U.S. 12/15
- KBR wins green ammonia project by IGNIS in Spain 12/15
- Phillips 66 announces $2.4-B capital budget for 2026 12/15
