According to the US EIA, net oil revenues from oil producing and exporting countries (OPEC) in 2016 were the lowest they have been since 2004.
The latest downstream news
Wood Group has announced it has secured a contract with Sakhalin Energy for Sakhalin's offshore projects, LNG plant, oil export terminal and tanker loading unit.
Clariant and Huntsman have announced the companies will combine in a Merger of Equals.
More hydrocarbon news updates
Jordan Petroleum Refinery Co. has awarded a technology supply contract to UOP, for the planned expansion of the kingdom’s sole refinery at Zarqa, close to Amman.
Saudi Aramco, China North Industries Corp. and Panjin Xincheng Industrial Group Co. Ltd recently signed the joint development agreement for the Saudi Aramco-Norinco Refining, Petrochemical and Retail Project.
Transnet National Ports Authority has appointed Oiltanking Grindrod Calulo Holdings to construct a new liquid bulk handling facility in South Africa.
L.A. Turbine will provide turboexpander units for gas processing and NGL recovery within Honeywell UOP Russell modular gas plant installations.
RasGas Co. Ltd’s fleet of 27 long-term chartered vessels received the Green Award (GA) certification for its commitment to safety, quality and high environmental performance.
Burckhardt Compression will modernise the third-party Hyper Compressor at MOL Petrochemicals’ plant in Hungary.
The field equipment protection specialist Intertec has launched a revolutionary advance in antistatic surface coating treatment for its glassfibre reinforced polyester (GRP) outdoor enclosures.
Woodside has signed a contract to become the first client to utilise Contract Resources’ Karratha LNG Waste Processing Facility.
The first phase of Klaipeda’s LNG distribution hub is on track to be operational by the end of the summer.
Gazprom has announced that documents have been signed to advance Russian-Chinese cooperation in underground gas storage.
The API has urged the EPA to adopt a regulatory system that promotes technological innovations and industry best practices.
Energy and Environmental Services has announced it is carrying out a H2S treatment field test with Flogistix, LP.
Fluor Corp. has begun the mechanical construction for The Dow Chemical Company’s new ethylene derivative facility in Freeport, Texas, US.
LyondellBasell has announced it has begun construction on its Hyperzone polyethylene plant at its La Porte Complex, US.
Following the announcement of the 100-day action plan between the US and China, the deal has the potential to alter the global LNG trade.
TMC Compressors will deliver a marine compressed air system to a FSRU under construction for Höegh LNG.