Middle East
OPEC sticks to 2024 oil demand view, sees strong travel season
OPEC is sticking to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air travel would support fuel use in the summer months.
EIA: Global oil market will be in supply deficit next year
Global oil demand will outpace supply next year, the U.S. Energy Information Administration (EIA) said on Tuesday, reversing a prior forecast for a surplus.
Saint-Gobain to acquire chemicals construction company FOSROC for $1 B
Saint-Gobain has entered into a definitive agreement to acquire FOSROC, a leading privately owned global construction chemicals player, for $1 B (€960 MM) in cash.
NEXTCHEM (MAIRE) awarded new contracts for proprietary equipment, technology, engineering services
MAIRE has announced that NEXTCHEM (Sustainable Technology Solutions) has been awarded new contracts for an overall value of approximately €30 MM by leading international clients, mainly in the Middle East and Europe.
Aramco’s strategic gas expansion progresses with $25 B in contract awards
Aramco has awarded contracts worth more than $25 B to progress its strategic gas expansion, which targets sales gas production growth of more than 60% by 2030.
New DNV survey highlights oil and gas sector paradox
The latest DNV survey, “The Paradox of Petroleum—How the oil and gas sector is transforming through uncertainty,” gathered insights from nearly 450 senior oil and gas professionals to examine rapidly evolving trends and the near-term outlook for the sector.
Japan's Mitsui building ammonia plant in UAE, to start production in 2027
Mitsui & Co. has begun building an ammonia plant in the United Arab Emirates (UAE) with partners including an Abu Dhabi National Oil Company (ADNOC) unit.
A multi-objective optimization study for an integrated oil refinery-petrochemical plant—Part 2
In this research, the integration of an oil refinery and an ethylene-producing facility was examined using a mixed-integer nonlinear programming model that prioritized maximizing ethylene and propylene production and net profit.
Global Project Data
Spotlight on Asia
Saudi crude oil exports to China to fall for 3rd straight month in July
Saudi crude oil exports to China will fall in July for a 3rd straight month to about 36 MMbbl amid plant maintenance and as some refiners opted for other sources of cheaper oil.
- KazMunayGas starts building polyethylene plant with Sinopec, SIBUR 4/1
- Blue Tide, Shell Lubricants complete re-refining facility to develop high-performance lubricants 4/1
- Lummus successfully starts up PFAS demo unit to destroy "forever chemicals" 4/1
- Solvay partners with Cavalinho to reduce emissions at Brazilian chemical plant 4/1
- Shell completes Singapore refinery sale to Chandra Asri-Glencore JV 4/1
- Japan's Maruzen Petrochemical to shut ethylene unit in Chiba 4/1
