A Barrel Fulll Archive

Total and Petrobras signed today an Assets Package Agreement in the framework of their Strategic Alliance announced in October 2016. This agreement reinforces the joint partnership and cooperation between the two companies, in the Upstream and Downstream sectors, covering operations, research and technology. In the Upstream, the technical cooperation will be strongly reinforced between the two companies including joint assessment of the exploration potential in key prospective areas in Brazil and the development of new technologies. Total will also become partner to Petrobras in two high-quality pre-salt licenses of the prolific Santos basin: the BMS-11 with the “Iara” fields currently under development where Total will acquire a 22.5% interest from Petrobras, and in the BMS-9 with the Lapa field which just entered into production and where Total will become the Operator of the license with the acquisition of a 35% interest from Petrobras. The two companies will combine their inter...

15/02/2018 Neptune Energy Group (“Neptune” or the “Company”), is pleased to announce the completion of the acquisition of ENGIE E&P International SA (“EPI”). The transaction sees Neptune become an international independent E&P company across the North Sea, North Africa and South East Asia, producing 154,000 net barrels of oil equivalent per day in 2017. Neptune’s new global platform offers a sustainable asset base throughout the E&P value chain, a good balance of oil and gas and with low operating costs. The North Sea region benefits from a strong operating base in strategic assets such as Cygnus in the UK and Gjøa in Norway, while Neptune is the leading offshore operator in the Netherlands. North Africa and Southeast Asia provide near-term gas volume growth into strengthening markets while Germany offers a strong, long-life oil production base. Sam Laidlaw, Executive Chairman of Neptune Energy Group, said: “I am pleased to announce the completion of this significant achi...

21/07/2022 Bayport Polymers LLC (“Baystar”), a 50/50 joint venture (JV) between Borealis and TotalEnergies, today announces the start-up of commercial operations of a new ethane cracker with an annual production capacity of one million tons of ethylene. This almost USD 2 billion project built on the site of the TotalEnergies Refinery in Port Arthur, Texas, represents 14 million hours worked with more than 2,500 workers at peak construction. The ethylene produced by the cracker will be used as feedstock to supply Baystar’s existing polyethylene (PE) units, as well as a new Borstar® technology polyethylene unit currently under construction in Bayport, Texas. “I am excited to see the start-up of this new ethane cracker, an important milestone for us as we are expanding our global footprint through Baystar. We are pleased to bring Borealis’ proprietary Borstar® technology to North America for the first time, allowing Baystar to produce enhanced polyethylene products for the most demandin...

02 Sep 2018 The Board of Directors of Rabigh Refining and Petrochemical Company (Petro Rabigh) has recently approved the launching of preliminary studies for the project to upgrade and develop the low-value fuel oil product , namely the establishment of two main plants and other secondary facilities to convert low-value fuel oil to diesel and other high-value products with international specifications, with production capacity of approximately 75 thousand barrels per day. During September 2018, Petro Rabigh will invite specialized contractors to tender the initial engineering studies needed to evaluate the project. Any developments will be disclosed as soon as they are available, where the financial impact on Petro Rabigh will be determined later.

Feb. 28, 2019  Jacobs (NYSE:JEC) has received a contract from Rabigh Refining & Petrochemical Company (Petro Rabigh) to provide FEED and Project Management Consultancy (PMC) services on the company's fuel oil upgrade project – Bottom of the Barrel . Located in Rabigh, Saudi Arabia, Bottom of the Barrel is an upgrade project which converts oil residue streams from the crude distillation process into more profitable products. In today's market, there is increased demand for transportation fuels, primarily diesel and low-sulfur bunker fuel oil, as well as decreased demand for residual fuel oil. This shift, combined with the lowering sulfur limits worldwide, makes maximizing conversion critical. Jacobs is projected to employ 150 full time employees while delivering pre-front end engineering design, FEED and project management over a two-year period. "Through this oil upgrade project, we are supporting Petro Rabigh with a unique opportunity in the market to meet growing dem...

20 January 2022 The Heavy Engineering arm of Larsen & Toubro, dispatched six of the World’s largest Coke Drums weighing 658 Tons each for a refinery project in Mexico ordered by PTI Infraestructura de Desarrollo, (PTI-ID), a subsidiary of the Mexico’s state-owned oil company PEMEX (Petróleos Mexicanos). These Coke Drums form a part of a Delayed Coking Unit in the PEMEX Dos Bocas Refinery Project , which will convert the residue from the combined distillation plant into higher-value products. They were successfully manufactured during Covid-19 pandemic at L&T’s state-of-the-art ‘Heavy Engineering Complex’ located at Hazira near Surat. Heavy Engineering continues to provide uninterrupted service to customers despite unprecedented challenges posed by Covid-19 pandemic. Mr. Anil V. Parab, Member – L&T Executive Committee, Senior VP & Head Heavy Engineering said, “We thank PTI-ID for reposing faith in L&T for supplying world’s largest Coke Drums for such prestigious pro...

22 June 2022 ExxonMobil expects to add approximately 20,000 barrels per day of light, heavy and extra-heavy lubricant base stocks when upgrades at its Singapore integrated refining and petrochemical complex are complete in 2025. “ExxonMobil is introducing a unique high-viscosity Group II clear and bright base stock at a large scale,” said Todd Sepulveda, vice president of Basestocks & Waxes at ExxonMobil. “We will produce EHC 340 MAXTM using proprietary technologies that allow us to manufacture a product with performance attributes that differentiate it from other high-viscosity base stocks.” The Singapore Resid Upgrade Project will expand large-scale production of ExxonMobil’s global EHCTM Group II slate to meet growing demand for high-performance lubricants in the Asia-Pacific region. This project will bring additional supplies of EHCTM 50 and EHCTM 120 grades to the market, and up to 6,000 barrels per day of extra-heavy base stocks, including the new Group II base stock, EHC...

March 3, 2022 QatarEnergy has exercised the North Field South Options for the North Field Expansion Project EPC-3 contract to expand the existing liquid product storage and loading facilities required for two future additional LNG trains that are planned for the North Field South project. The North Field Expansion Project EPC-3 contract, which was awarded on 19 August 2021 to Técnicas Reunidas, provides for the engineering, procurement, and construction (EPC) to expand the existing infrastructure for increased liquid production from four new LNG trains announced in February 2021 for the North Field East project with scheduled start-up of the first LNG train by year-end 2025. The exercise of the North Field South options includes the expansion of existing liquid storage and loading facilities for light naphtha and field condensate, propane and butane and the expansion of existing storage facilities for Mono-ethylene glycol, within Ras Laffan Industrial City. The planned duration of the...

May 24, 2021 Técnicas Reunidas has been selected by the Polish company PKN ORLEN, the largest company in Central and Eastern Europe in the fuel markets, to carry out the expansion of the industrial complex PKN owns in the city of Plock (Poland) , considered the cornerstone of its Petrochemical Development Program. The agreement was made public today during a ceremony organized by the Polish company at the industrial plant’s facilities, which was attended by Jacek Sasin, Deputy Prime Minister and Minister of State Assets; Daniel Obajtek, Chairman of the Board of Directors of PKN ORLEN; Chang Hag Kim, President of Hyundai Engineering; and Juan Lladó, Executive President of Técnicas Reunidas. The project, which will involve an investment of around 1,800 million euros, about half of which will be in Técnicas Reunidas’ scope, will maximize PKN’s petrochemical potential by adding new capacity to the existing facilities. This will contribute to improving the European country’s balance sheet i...

January 14, 2019 The €3 billion investment will be the biggest ever made by INEOS and is first cracker to be built in Europe in 20 years. The investment is a game changer for the chemical sectors and will bring huge benefits to the Belgium and wider European economies. Sir Jim Ratcliffe, Founder and Chairman of INEOS says: “Our investment in a gas cracker and world-scale PDH unit is the largest of its kind in Europe for more than a generation and is an important development for the European petrochemical industry. We believe this investment will reverse years of decline in the sector.” INEOS has today announced that Antwerp, Belgium will be the location for its multi-billion Euro project for an ethane gas cracker and world-scale PDH unit in Europe. The €3 billion investment is the largest investment in the European chemicals sector in 20 years and could be a game changer for the Belgium economy. Sir Jim Ratcliffe, CEO and Chairman of INEOS said: “Our investment in a gas cracker and w...

08/21/2017 Total is pleased to announce that the Boards of Total and A.P. Møller – Mærsk have both approved the acquisition of 100% of the equity of the E&P company Maersk Oil & Gas A/S (Maersk Oil), a wholly owned subsidiary of A.P. Møller – Mærsk A/S, by Total in a share and debt transaction. Under the agreed terms, A.P. Møller – Maersk will receive a consideration of $4.95 billion in Total shares and Total will assume $2.5 billion of Maersk Oil’s debt. Total will issue to A.P. Møller – Maersk A/S, 97.5 million of shares, based on the average Total share price on the 20 business days prior to August, 21 (signing date) which will represent 3.75% of the enlarged share capital of Total. Underpinning this share based partnership, subject to Total shareholders’ approval, Total has also offered the possibility of a seat on its Board of Directors to A.P. Møller Holding A/S, main shareholder of A.P. Møller – Mærsk. The proposed transaction is subject to the applicable legally ...

21.10.2020 PGNiG Supply & Trading GmbH (PST), the international trading arm of the Polish Oil and Gas Company (PGNiG), and Ørsted Salg & Service A/S (Ørsted), a subsidiary of Ørsted A/S, have signed a multi-year contract for the sale and purchase of natural gas. The agreement covers a total volume of approx. 70 TWh (6.4 bcm) to be supplied between January 01st 2023 and October 01st 2028. With this agreement, PST continues to grow and strengthens its position in Northern Europe and particularly in the Danish wholesale market. Denmark is linked to Germany via the interconnector at Ellund and will be linked to Norway and Poland via the Baltic Pipe which is currently under construction. “We are pleased that we can cooperate with Ørsted who is a trustworthy and highly valued partner and an important player in the Danish market. The agreement between Ørsted and PST provides a solid basis for a further strengthening of relations between both companies. It also means more security an...

5 May 2022 Höegh LNG Holdings Ltd. ("Höegh LNG") announces it has signed binding implementation agreements with the German Federal Ministry for Economic Affairs and Climate Action to charter out two FSRUs from its fleet for operations in Germany for 10 years. The detailed FSRU contracts are scheduled to be completed by September/October, and FSRU operations are expected to commence at the end of this year. President and CEO of Höegh LNG, Thor Jørgen Guttormsen, commented: “We are very pleased and honored to be selected by the German government to support Germany’s security of energy supply with two of our modern, large-capacity FSRUs.” One of the vessels will be used by the Brunsbüttel Floating LNG Terminal