The pledge is seen by GlobalData as an attempt by OPEC to address concerns over a possible undersupply scenario that could hamper global economic growth.
Downstream news updates
Sempra LNG & Midstream has selected Bechtel to help develop the Port Arthur LNG facility in Jefferson County, Texas, US.
TechnipFMC has signed an exclusive cooperation agreement with KEM ONE to support the marketing and licensing of a PVC technology.
Fluor has confirmed that the first modules for Kuwait Integrated Petroleum Industries Co.’s Al-Zour project have arrived in Kuwait.
Clariant has announced the official opening of two new, fully-owned additives facilities at its site in Zhenjiang, China.
LAR Process Analysers AG has been acquired by Process Insights Holdings, strengthening LAR’s position as a specialist in the TOC market.
TechnipFMC has signed a cooperation agreement with OxyVinyls to provide licensing support of EDC and VCM technologies.
ExxonMobil has started production of hydrogenated hydrocarbon resin and halobutyl rubber at its integrated manufacturing complex in Singapore.
Duvas Technologies has pledged its support to tackle the issue of over-exposure to benzene emissions.
More hydrocarbon news updates
Trimble’s global navigation satellite system receiver has been updated to support GLONASS.
Mocoh SA has chosen Allegro’s commodity trading and risk management platform to manage risk and gain operational control as it continues to expand.
Axens has signed a contract with MOL Group for a real-time monitoring service of units.
Bureau Veritas is reiterating the need to increase diversity in STEM education and careers.
KBR has been awarded a FEED contract and an EPC option by Arkema.
A survey by Deloitte suggests that switching to LNG is the preferred solution for shipping companies to adopt in order to meet the IMO’s emissions standards for marine bunker fuels.
Shell Gas Holdings (Malaysia) Ltd has sold its 15% shareholding in Malaysia LNG Tiga Sdn Bhd to the Sarawak State Financial Secretary.
Fluor has achieved substantial engineering completion on the Marathon Petroleum Project in Texas, US.
Cheniere Energy Inc. and Cheniere Energy Partners LP Holdings, LLC have announced a definitive merger agreement.
Crowley Fuels has acquired an additional 40 ISO tanks to meet high customer demand in Puerto Rico.
HIMA has been awarded the Growth Excellence Leadership Award for the process safety systems industry.
Honeywell has introduced CyberVantage Managed Security Services to help its customers enhance their industrial control system (ICS) capabilities.
As part of its 2030 strategy, MOL aims to increase flexibility in refining and strengthen its petrochemical production, including high value olefins.
As the world transitions to a lower carbon future, Ferenc Horváth, MOL Group, Hungary, presents a case for transformational change in refining.