Refining

EIA now forecasts Brent crude oil spot prices to average US$51/bbl in 2017 and US$52/bbl in 2018.

A recent survey conducted by KBC suggests that 85% of oil refiners are currently unprepared to meet shipping demand for low sulfur bunker fuel oil.

Endress+Hauser has invested €4.5 million in a new sales office in Shah Alam near Kuala Lumpur.

Chart Industries has announced it as acquired Hudson Products for US$410 million.

The EIA’s latest report suggests that petroleum refinery capacity in the US is continuing to rise.

The Linde Group has been selected as the lead EPC contractor for Braskem’s new polypropylene production line.

Sandvik has announced the appointment of Paul Storey, who will take on the role of Key Accounts Manager at Halesowen, West Midlands, UK.

Cielo has announced the approval of a development permit to proceed with their refinery that converts rubbish into high grade renewable diesel.

The API has reiterated its support for regulation that targets emissions of volatile organic compounds from natural gas operations.

Sandvik has signed an agreement with FAM AB to divest its Process Systems operations.

The API has welcomed Interior Secretary Ryan Zinke’s order to expedite the oil and gas permitting process on federal lands.

Williams Partners has announced it has completed its sale of interests in the Geismar olefins facility to NOVA Chemicals for US$2.1 billion and entered into a long-term agreement.

Under the MoU, the companies will jointly collaborate on engines and pumps business development in Saudi Arabia.

Vitol has announced it has increased its shareholding in Hascol Petroleum Limited, Pakistan, to 25%.

The API has welcomed the EPA’s proposal to lower biofuel volume but believes that the Renewable Fuel Standard requires reform.