Refining, Petrochemicals, Gas Processing, Biofuels
Irkutsk Petrochemical Projects in Siberia to be Financed by JBIC
In late December 2021, the Japan Bank for International Cooperation (JBIC) announced a buyer’s credit agreement worth approximately $522 million USD, which was co-financed by the Japanese arms of Deutsche Bank, Société Générale and Goldman Sachs Realty, which brought total funding for two upcoming petrochemical projects spearheaded by Irkutsk Oil up to $871 million dollars.
DL E&C of Korea Signs on for Work at Ust-Luga Gas Chemical Complex
According to a recent regulatory filing, DL E&C has been contracted by RusGazDobycha for the purpose of providing design and equipment procurement services for the upcoming Baltic Gas Chemical Complex portion of the massive gas processing, liquefaction, and chemical production complex under development in Russia’s Ust-Luga area.
Hyundai Engineering Signs on for FEED duties at Indonesian Petrochemical Project
Hyundai Engineering of South Korea announced recently that it has won a contract with PT Pertamina to provide front end engineering design (FEED) services for the state-run company’s TPPI Olefin project in Tuban, Indonesia.
Chevron Phillips Chemical Plans New Propylene Unit in Texas
Chevron Phillips Chemical has announced that it will expand upon its propylene business in the Gulf Coast with the addition of a new C3 splitter unit. This new unit will be located in Baytown, Texas at the company’s existing Cedar Bayou complex.
Refinery Developments Rebound in 2021
2021 brought an anticipated rebound in oil demand as driving activity increased throughout the year and lockdowns from the pandemic eased, along with the seasonal demands for heating as things returned to some level of normalcy in many ways. The resiliency of the industry was tested early this past February when the state of Texas encountered a series of winter storms that put a third of U.S. refining capacity offline for a short time. This event could have been viewed as a harbinger of continuing difficulties for the industry, following the events of 2020 that had already seen approximately 2.3 million barrels per day of refining capacity shut in. Despite this, countries around the world pushed projects forward in different ways and in varying sizes in the face of the emerging energy transition and from potential overcapacity in some regions.
Oriental Energy Starts Up Twin PP Lines in Ningbo, China
Oriental Energy of China has begun operations of two 400,000 tons per year polypropylene (PP) lines at its site in Ningbo, China. W.R. Grace & Co. provided its proprietary UNIPOL technology for these two production lines.
Amur Gas Chemical Complex Secures $9.1 billion to Push Project Forward
Sibur of Russia announced recently that it has secured $9.1 billion USD in loans for the upcoming Amur Gas Chemical Complex under development in Russia. Sibur is co-owner of the plant with Sinopec of China. International banks will provide $2.6 billion of the $9.1 billion figure, while Russian and Chinese banks will issue the remaining $6.5 billion.
ADNOC and RIL Partner on Ruwais Petrochemical Facility
Abu Dhabi National Oil Company (ADNOC) recently announced that through its investment platform with ADQ named TA’ZIZ, it has signed an agreement with Reliance Industries Limited of India for a new world-scale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at the TA’ZIZ Industrial Zone in Ruwais, Abu Dhabi. Reliance has stated that this facility will require an investment of $2 billion USD.
Oriental Energy Chooses Grace for UNIPOL Polypropylene Technology
W.R. Grace of Maryland recently announced that it has licensed its UNIPOL polypropylene process technology to Oriental Energy of China for an upcoming polypropylene plant. This would be the fourth polypropylene plant in recent years that Oriental Energy has utilized Grace’s proprietary UNIPOL technology for its output.
Borouge 4 plant adds Maire Tecnimont and Technip Energies for EPC duties
The upcoming Borouge 4 project in Ruwais has signed separate engineering, procurement and construction (EPC) contracts with Maire Tecnimont of Italy and Technip Energies of France in early December 2021. The $6.2 billion dollar Borouge 4 expansion phase at the Ruwais polyolefins complex in Ruwais, UAE is currently due to be completed by 2025.
St. Croix Energy Wins Bid for Troubled Limetree Bay Refinery
St. Croix Energy LLP announced that it won the recent auction for the shuttered Limetree Bay refinery in the U.S. Virgin Islands for a reported $20 million. The company hopes to restart operations at the long-troubled refinery.
Come By Chance Refinery to Convert to Biofuel Refining by mid-2022
The long running Come by Chance refinery in Newfoundland will indeed be converting over to biofuel operations by the middle part of next year, according to Cresta Fund Management. This U.S. based private equity firm purchased a majority share of the refinery in mid-2021 for this purpose.
SOCAR Makes FID Push for Petrochemical Plant in Turkey
The State Oil Company of Azerbaijan (SOCAR) is working towards a final decision around the construction of the Mercury petrochemical complex in the Aliaga district of Izmir, Turkey. This expectation comes as many projects that had been postponed due to the COVID-19 pandemic effect are seeing new movement, and this previously delayed project is having new urgency attached to it.
Air Liquide and BASF welcome support from European Innovation Fund for joint CCS project
Air Liquide and BASF are planning to develop the world’s largest cross-border Carbon Capture and Storage (CCS) value chain. The goal is to significantly reduce CO2 emissions at the industrial cluster in the port of Antwerp. The joint project “Kairos@C” has been selected for funding by the European Commission through its Innovation Fund, as one of the seven large-scale projects out of more than 300 applications.
Arbor Renewable Gas Picks Beaumont for Renewable Plant Location
Arbor Renewable Gas of Houston, Texas recently announced that it has decided upon a 53-acre site in Beaumont, Texas to be the location of the company’s initial renewable gasoline plant.
Neste to receive funding from the EU Innovation Fund to develop its Porvoo refinery through green hydrogen production and carbon capture & storage
The EU Innovation Fund has given a positive grant decision of EUR 88 million funding to Neste’s green hydrogen and CO2 capture & storage project, which aims to quickly and efficiently reduce greenhouse gas emissions at the Porvoo refinery in Finland. The project introduces carbon capture and storage (CCS) and electrolysis solutions that allow decarbonisation of production at the refinery. The project is currently in the feasibility phase.
ADNOC and Borealis Partner for $6.2 Billion Borouge 4 Project
Borealis recently announced that it has signed a strategic partnership with the Abu Dhabi National Oil Company (ADNOC) to build what would be the fourth Borouge facility at the Ruwais polyolefin complex.
Triangle Energy Plans Renewable Refinery in Australia
Triangle Energy Limited of Australia announced recently that FEED studies had begun for a proposed 5,000 barrel per day renewable refinery in Western Australia. This refinery would be modular in design and have a flexible feedstock ability.
Alberta’s Northern Petrochemical Corporation Announces $2.5 Billion Petrochemical Project
Northern Petrochemical Corporation (NPC) of Alberta announced on November 10th, 2021, that it plans to build a carbon neutral ammonia and methanol facility in what will be the Greenview Industrial Gateway in northwestern Alberta on 265 acres.
Construction Continues for Dos Bocas Refinery in Mexico
Samsung Engineering recently announced that it has begun shipping modules destined for the upcoming Dos Bocas Refinery project under construction in Tabasco, Mexico. This facility will be Mexico’s first refinery built in the last 40 years.
ExxonMobil Invests in Huizhou Petrochemical Complex
ExxonMobil announced on November 8 that it had indeed made a final investment decision on its multi-billion dollar petrochemical complex now under construction in China’s Dayawan Petrochemical Industrial Park in Huizhou’s Guangdong Province. No specific cost figure was attached at this time.
China to Shutter Teapot Refineries for Upcoming Mega Complex
The Shandong Province of China is expected to close in 10 independent refineries with over 500,000 barrels per day capacity by the end of 2022 in order to clear a path for a new integrated refinery already under construction.
230,000 bpd Refinery in Oman to Start Up in Early 2023
The often-delayed Duqm refinery in southern Oman is now anticipated to begin its operations in the first quarter of 2023, according to the project operator. The 230,000 barrel per day refinery is a 50/50 joint venture between the state owned OQ and Kuwait Petroleum International, known collectively as the Duqm Refinery and Petrochemical Industries Company.
Maire Tecnimont Signs Preliminary Agreement for Rosneft Grassroots VGO
Maire Tecnimont S.p.A. announced this week that it has signed an Agreement of Intent with Rosneft regarding the construction of a grassroots Vacuum Gas Oil (VGO) hydrocracking complex to be placed at the Ryazan refinery site in Ryazan, Russia.
Howden to Supply Compressors for Shell’s Biofuel Project in Rotterdam
Howden of Scotland recently announced that it has agreed to supply compressors for the upcoming Shell owned biofuel facilities under development in the Netherlands. This complex will be at the former Pernis refinery site in Rotterdam and will be one of the largest of its kinds in Europe upon its completion.
Lummus and Clariant to Provide Technology to India’s first PDH Plant
Lummus announced this week that it and its catalyst partner, Clariant Catalysts, have won a major contract award for GAIL of India’s upcoming propane dehydrogenation (PDH) plant in Usar, Maharashtra. This plant is expected to be the first PDH plant in India.
Worley Awarded Services Contract for Ras Tanuras Residue Upgrade
Worley of Australia has been awarded a services contract for a residue upgrade project by Saudi Aramco on October 12, 2021. This residue upgrade project will be placed on the large Ras Tanuras refinery complex grounds.
Dow Plans World’s First Net Zero Ethylene and Derivates Complex
Dow recently announced that is has begun planning the first ever net-zero carbon emissions integrated ethylene cracker and derivatives site in regard to scope 1 and 2 carbon dioxide emissions.
ADNOC Scraps Plans for 400,000 bpd Ruwais Refinery
ADNOC of Abu Dhabi stated this week that it will cease its current plans for a new 400,000 barrels per day refinery in Ruwais, Abu Dhabi. Changes in the economy for the project were cited as the likely reason for this decision.
Oil Demand in India Pushes Refinery Developments
Oil demand in India is expected to push construction of new refining projects in the region, as this demand could more than double to 11 million barrels per day by 2045. With this growth anticipated, new projects have been developing throughout the year to stay on pace to capitalize on this demand.
