Oil and gas survey reveals ‘crisis of confidence’ in the sector
A survey of oil and gas workers has spotlighted a “crisis of confidence” in the sector, ushered in by the Covid-19 pandemic.
Petrochemicals
Ineos completes £4billion acquisition of BP petrochemicals business
Ineos has completed its £4billion acquisition of the petrochemicals business of BP.
BP to sell petrochemicals business to Ineos for £4bn
One of the UK's largest private companies has struck a five billion dollar (£4 billion) deal to buy a wing of BP that had fallen out of favour at the oil giant.
INEOS gets on the grid with Mercedes
INEOS has launched a five-year partnership with the Mercedes-AMG Petronas F1 Team.
Yemeni rebels target Saudi Aramco in Jazan
Yemen’s Houthi rebels launched a missile attack on Saudi Aramco, but an oil official in the kingdom said the projectiles were intercepted before they could hit their target in the southern Jazan region.
Wood wins deal to support Ineos’ £2.6bn Antwerp chemicals complex
Wood has announced a deal to support construction of Ineos’ £2.6billion chemicals complex in Antwerp.
Saudi Aramco in £52.2billion deal for majority stake in Sabic
Saudi Aramco has signed a £52.2billion deal to acquire a majority stake in petrochemicals firm Sabic from the country’s sovereign wealth fund.
Houston fire a ‘blemish’ for petrochemical industry’s image
The Deer Park petrochemical blaze prompted school closures, shelter-in-place orders, spikes in benzene levels and ship channel closures. It also cast a shadow over a petrochemical sector that has struggled to counter negative stereotypes that present the industry as dirty and dangerous.
ExxonMobil, Sabic pick site for new Texan petrochemicals complex
ExxonMobil and Sabic have picked a site in Texas for a new petrochemical complex on the US Gulf Coast.
Saudi firm mulls petrochemicals venture with Exxon affiliate
Saudi Basic Industries Corp (Sabic), one of the world's largest petrochemicals groups, said on Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of US firm Exxon Mobil (NYSE: XOM). The project will be on the US's Gulf Coast, possibly in Texas or Louisiana, and will include a production facility which will supply ethylene to other units to produce ethylene derivatives, Sabic said in the statement. The two parties will conduct studies and work with state and local officials to help identify a potential site with adequate infrastructure access before making a final investment decision, said Sabic.
MOL posts increased profit despite upstream slump
Oil and gas producer MOL posted a big jump in first-quarter profit, despite a big drop in its E&P (exploration and production) business performance.
Repsol beats analyst estimates thanks to chemicals and refining
Repsol, the worst-performing major European oil stock over the past year, beat analysts’ estimates as the performance at the refining and chemicals division compensated for low oil prices.
The unloved business saving Big Oil from low energy prices
Big Oil is suddenly Big Chemical.
Rosneft obtains approval to dissolve Joint Venture
Rosneft has obtained approval to dissolve the Ruhr Oel GmbH Joint Venture from the German Federal Ministry of the Economy and Energy.
South Korea’s GS E&C wins $270 mln contract to expand KPIC’s naphtha unit
South Korea's GS Engineering and Construction Corp has signed a contract to expand a Korea Petrochemical Industry Co (KPIC) naphtha cracking plant for 311 billion Korean won ($270 million), the two companies said on Wednesday. The project will help KPIC expand its ethylene production capacity to 800,000 tonnes per year (tpy) from 490,000 tpy, along with its raising benzene, toluene and xylene production capacity to 300,000 tpy from 220,000 tpy, according to the builder GS E&C in a statement.