More oil and gas industry announcements: 19 August 2014

20 richest people in oil and gas

Oil & Gas IQ has published its list of the top 20 richest people and families in the oil and gas sector. The list was researched and authored by Sumit Dutta. There are over 1600 billionaires globally and a significant proporation of them are involved in oil, gas and related industries.

Sumit Dutta, report author said, ‘although an increasing number of oil and gas companies are faling into the sate owned set, there are still a vast number of individuals who continue to benefit in a big way from oil and gas. The combined wealth of the top 20 individuals in this study is an astounding US$ 289.7 billion. As pointed out in the study that is enough to purchase outright some of the world’s biggest companies including the likes of Chevron, Intel and GSK. One interesting detail to emerge is the number of connections between the entrants on the list. It’s also remarkable that over half of the entrats on the list are self made, certainly something to inspire us all.’

Azbil

Azbil Corporation has announced the receipt of an order from Japan Marine United Corporation for the integrated automation system of LNG carriers to be deployed for a US shale gas LNG project. After construction, the LNG carrier is slated to transport LNG mainly from the US as part of the Cove Point project. The carrier will be equipped with a tri fuel diesel electric (TFDE) propulsion system, which is capable of using low sulfur oil as a fuel, in order to comply with US coastal environmental regulations. It also features a heat insulated tank that boasts the world’s lowest boil off rate. Consequently, the LNG carrier is expected to provide excellent fuel efficiency and dramatically reduced environmental impact.

BP

BP has announced that it will serve as a leading corporate sponsor of the Valor Games Midwest, the region’s only competition that invites more than 200 wounded, ill or injured veterans and active duty service members to challenge and support each other. The games, which World Sport Chicago is presenting in partnership with the Chicago Park District, US Paralympics and the US Department of Veterans Affairs, will run from 20 – 22 August at arena venues including Soldier Field and the United Center.

Clive Christison, VP of BP’s Chicago based supply and trading organisation said, ‘BP has long supported our veterans and active duty service members. We are honoured to serve as a gold level sponsor of the Valor Games and to recognise these athletes for their service and sacrifices, while continuing to demonstrate our commitment to para athletes in the Chicago area.’

Frost & Sullivan

Based on its recent analysis of chemicals and materials market in the energy sector, Frost & Sullivan has recognised Sasol with the 2014 African Frost & Sullivan Award for Visionary Innovation. Through its Group Technology function, Sasol’s continuous search for new ways of innovation places it among the cream of South African innovators and underlines its commitment to understanding and leveraging the Mega Trend of ‘Innovation to Zero.’

Companies in the energy sector are expected to increasingly become a part of the ‘Innovation to Zero’ movement through zero emission technologies and full beneficiation of resources. Sasol, for its part, innovates around its own environmental footprint, resources capital, people, as well as future business. By focusing on lower carbon technologies, it has demonstrated a robust understanding of the concept of Innovation to Zero. The company’s closet competitor, although a pioneer of a number of best practice innovation concepts, has limited its focus to sectors that support only incremental innovation.

ICIS

ICIS has launched a new report providing China LNG supply and demand analysis for the country’s seven major regions and provinces. China’s LNG market is becoming increasingly attractive to international players due to the introduction of the country’s gas import source diversification policy. With this important liberalisation, market experts are expecting a rapid growth in LNG imports in the coming five years, with levels likely to exceed South Korea’s by 2018. Taking advantage of recent developments, privately owned enterprises in China are keen to maximise their first mover advantage by investing and building new LNG import terminals.

Rui Qui Wang, senior analyst for the gas industry chain, ICIS said ‘what makes the report unique is that the analysis is broken down in to sub regional markets. We’ve structured the report this way, because regional differences in market dynamics and infrastructure commonly creates complexity when dealing with the Chinese LNG industry.’

Westlake Chemical Partners

Westlake Chemical Partners LP has announced that Max Lukens and Gary Adams have been elected to the company’s board of directors of its general partner, Westlake Chemical Partners GP LLC. Lukens previously served as President and CEO of Stewart & Stevenson Services Inc, as well as Chairman of the board. Lukens has served as director of Westlake Chemical Corporation since 2004.

Adams began his career with Union Carbide. He currently serves as an independent director on the board of Phillips 66 Partners LP, a master limited partnership formed by Phillips 66 Company and is both the Lead Director and Chair of the Conflicts Committee.

Edited from various press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/19082014/further-oil-gas-industry-announcements-19-aug/