A Barrel Fulll Archive

Construction has commenced on the Pluto Train 2 project , a key milestone supporting jobs and economic growth in Western Australia. The Deputy Premier of Western Australia, the Hon. Roger Cook MLA, officially launched construction on the project at a ceremony in Karratha today. Pluto Train 2 will be the second liquefied natural gas train at Woodside Energy’s existing Pluto LNG onshore facility and will process gas from the Scarborough development. The construction site for Pluto Train 2 is within the existing Pluto LNG boundary. The Pluto Train 2 project will deliver significant economic benefits for Western Australia. Woodside, as operator of Pluto Train 2 and Scarborough, has made commitments to the Western Australian Government in its community development plans to support positive and sustainable community outcomes in the Pilbara region. Bechtel will execute the engineering, procurement, and construction of Pluto Train 2, which will have an LNG capacity of approximately 5 million t...

04 Nov 2019 MOL today signed an agreement with Chevron Global Ventures, Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated E&P and mid-stream interests in Azerbaijan, including a 9.57% stake in the Azeri-Chirag-Gunashli (“ACG”) oil field , and a 8.9% stake in the Baku-Tbilisi-Ceyhan (“BTC”) pipeline . MOL Plc. (“MOL”) hereby notifies the market participants of the following: MOL today signed an agreement with Chevron Global Ventures, Ltd and Chevron BTC Pipeline, Ltd to acquire their non-operated E&P and mid-stream interests in Azerbaijan, including a 9.57% stake in the Azeri-Chirag-Gunashli (“ACG”) oil field, and an effective 8.9% stake in the Baku-Tbilisi-Ceyhan (“BTC”) pipeline that transports the crude to the Mediterranean port of Ceyhan, for total consideration of USD 1.57bn (subject to adjustments at closing) with an effective date of 1 January 2019. Once completed, this transaction will make MOL the third largest field partner in ACG. The supergiant ACG fiel...

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...