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Qatar and Iraq have signed an an MoU to establish a 150,000 barrels per day oil refinery in Iraq, the Peninsula reported.. Both countries have also signed an MoU to establish a joint company that will build and operate oil tankers that carry crude oil and petroleum products according to the laws in force in both countries.
3 · This approach resulted in the U.S. becoming the world''s largest oil producer during Trump''s 2017 to 2020 presidency, surpassing Saudi Arabia and Russia. If re-elected, Trump is expected to continue these policies, further increasing U.S. oil output. Increased U.S. oil production under Trump would likely lead to lower global crude prices.
Luo et al. (2020) presented a risk-based inspection and maintenance method for a large crude oil storage tank in the petrochemical industry. The method integrated a risk assessment (using the API method) with a periodic detection approach to optimize the maintenance operation. The proposed model was applied to maintain a
Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million metric tonnes this year, Lebanon''s energy
Earlier on Wednesday, US crude WTI increased by 1.1%, and Brent saw a 0.8% gain, approaching three-week highs. Winter storms in North America last month disrupted global crude production by 1.4 million barrels per day, potentially tightening the market. Simultaneously, India experienced an 8.2% year-over-year increase in oil
Aramco signs US LNG project offtake and equity deal. The broad agreement with US-based Sempra paves the way for the Saudi energy giant to offtake 5 million t/y of LNG and acquire a 25% stake in the second phase of the Port Arthur LNG project. 28 June 2024.
South Korea depends on Kuwait for about 15-20 percent of its crude oil imports. In July, South Korea imported 518,000 barrel of crude oil per day from Kuwait, making it the second-largest crude
Notably, in March, Aramco agreed to acquire a 10% stake in Rongsheng, an investment linked to a 20-year crude oil supply deal with Zhejiang Petrochemical Corp, a Rongsheng-controlled company. This deal, valued at $3.4 billion, was finalised in July. Additionally, Aramco has been in talks for a 10% stake in Shandong Yulong
Saudi Arabia has signed an agreement to export over 100,000 tons of agricultural and industrial sulfur to India and East Asian countries annually, as bilateral investments between the two countries surged to $24 billion,
Watch Genscape and Thomson Reuters'' complimentary on-demand webinar to learn about the current U.S. crude production forecast, updates to Permian takeaway capacity, storage and expansion projects, crude and products imports and exports, and the fall maintenance season. The presentation was followed by a live Q&A session, during which our expert
Lebanon''s energy ministry has launched the country''s third oil and gas exploration licensing round, with bids for the nine blocks offered due by 2 July 2024. On offer are all unlicensed blocks in the country''s maritime exclusive economic zone (EEZ), its ministry of energy said, namely blocks 1, 2, 3 and 4 in the northern half of the EEZ, and
South Korea depends on Kuwait for about 15-20 percent of its crude oil imports. In July, South Korea imported 518,000 barrel of crude oil per day from Kuwait, making it the second-largest crude
The excess of crude available over refinery processing in the first four months of 2024 was 830,000 bpd, compared to 480,000 bpd for the same period last year. The overall picture that emerges is
Yes the petrochemical industry currently accounting for 12% of oil demand will continue to drive demand well into the future. But the main driver will always be global transport accounting for 60%.
Iraq''s government has agreed to continue supplying Lebanon''s state-owned electricity company with heavy fuel oil for another year and to increase the
Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million metric tonnes this year, Lebanon''s energy
(Reuters) — Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on
Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on Friday.The
Huajin Aramco Petrochemical Co (HAPCO), which is a joint venture between Aramco (30%), NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%), is developing the complex that will
Saudi Aramco said on Monday it would buy the stake in Rongsheng Petrochemical, controlling owner of Zhejiang Petrochemical Corp (ZPC) - operator of China''s largest refinery of 800,000 barrels per
Notably, Saudi Arabia has emerged as South Korea''s top oil supplier, accounting for a substantial 33% of all crude oil imports in 2022. This partnership with Aramco further solidifies the strong ties between the two nations and underscores the importance of a reliable energy supply from Saudi Arabia to South Korea. More by Dean
(Reuters) - Iraq renewed its agreement to provide Lebanon with up to 2 million tons of crude oil for a year, Lebanese energy ministry said in a statement on Friday.
2 · Compared to crude oil, petrochemical storage facilities are more diverse and complex. Take propane as an example. For industrial use, propane is usually stored in a cylinder tank. Whereas, for retail use, the storage tanks are called bulk plants, with typically 18,000 to 30,000 gallons capacity each.
the storage tank farm.Hazard Analysis is animportant process and has a vital role in st udies related to hazardous. chemicals handling. Hazard iden tification (HAZID) is the initial step in any
The excess of crude available over refinery processing in the first four months of 2024 was 830,000 bpd, compared to 480,000 bpd for the same period last year. The overall picture that emerges is that China''s oil import growth is modest so far in 2024, and more of those imports are heading into storage than they did in 2023.
Oman''s state energy firm OQ says that its new Ras Markaz crude oil storage facility in the south of the country will receive its first shipment of crude oil in Q1 next year. The first eight tanks with capacity to hold 5.7mn barrels of crude oil have been completed and will be used to hold crude oil feedstock for the nearby greenfield 230,000
It will be built on an area of around 2.5 million square metres, project manager Ali Ibrahim said in a statement published on Monday by Aliqtisad News and other Iraqi publications. Ibrahim said the
Saudi Arabia has signed an agreement to export over 100,000 tons of agricultural and industrial sulfur to India and East Asian countries annually, as bilateral investments between the two countries surged to $24 billion, Arab News reported. The petrochemicals trade volume is anticipated to hit $9.13 billion, with an additional $1.03 billion
4 · ADNOC''s strategic interest in Covestro is aligned with its broader vision of becoming a leading international energy company. As part of its $150 billion capital expenditure plan from 2023 to 2027, ADNOC aims to increase its crude oil production capacity to 5 million barrels per day by 2027. Additionally, ADNOC is focusing on
In the last Iranian year (March 2022-23), $12 billion worth of oil, gas and petrochemical projects were launched. Currently, Iran''s daily crude oil production is 3 million barrels and natural gas output is 1 billion cubic meters, while the annual production capacity of petrochemical products is about 95 million tons, the Oil Ministry''s news
BEIRUT (AP) — Lebanon has signed a deal with Russia''s largest oil company, Rosneft, to upgrade and operate storage installations in country''s northern city of Tripoli.
Keyera plans to develop a crude oil storage and blending terminal at Cushing in Oklahoma, US. Called the Wildhorse, the terminal will comprise 12 above-ground tanks with a combined working storage capacity of 4.5 million barrels of oil (bbl). Most of this will be offered on fee-for-service and take-or-pay storage arrangements for a period
The trading arm of Saudi Aramco, the world''s largest exporter of oil, signed an agreement with Oman''s global integrated energy company, OQ, to explore joint commercial opportunities in the energy sector.. Aramco Trading Company (ATC) and OQ will collaborate directly or through their affiliates to explore business prospects in the
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The two countries signed a memorandum of understanding on Iraq providing Lebanon with fuel oil and crude oil, the Iraqi state news agency INA also reported on Friday, without elaborating. In May Lebanon signed deals to secure more fuel supplies from Iraq as Beirut battles to produce more power to help it emerge from years
3 · Iran on 25 June announced the completion of eight 500,000-barrel oil tanks at the delayed Jask export terminal in Hormozgan province, bringing storage capacity to 4mn barrels. Jask is located outside the Hormuz Strait on the Indian Ocean and was inaugurated four years ago by former President Hassan Rouhani (MEES, 23 July 2021). The claim
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