Refining

Indian-based engineering firm, Megha Engineering and Infrastructures Limited (MEIL), has clinched a significant deal in Mongolia for the construction of a crude oil refinery plant.

Global oil demand will reach record levels in 2023, with demand expected to continue to grow each year and peak in 2035, according to Bloomberg Intelligence’s (BI) latest oil sector survey of energy-related investors.

Delays at the Panama Canal because of low water levels are causing very large gas carrier (VLGC) rates to reach record highs, increasing the cost of shipping LPG.

Kuwait’s oil exports are shifting from crude oil to refined petroleum products following the addition of new refining capacity, according to data from the EIA's Country Analysis Brief: Kuwait.

KBC (A Yokogawa Company) has announced the launch of Petro-SIM® 7.4 simulation software for the oil and gas, renewables, and process industries.

Galp has reached final investment decision (FID) on two large scale projects to reduce the carbon footprint of the Sines refinery in Portugal.

Elessent has announced the signing of license and engineering contracts with Trafigura for the construction of an IsoTherming® diesel hydrotreater at the Bahía Blanca Refinery located in Argentina.

3Q23 marked an important milestone for Chilean oil refiner, ENAP Refinerías S.A. (ENAP), with the successful startup of their newly installed BELCO® wet gas scrubber at the Aconcagua Refinery located in Concón, Chile.

The EIA reports that US exports of petroleum products grew by 2% to nearly 6 million bpd in 1H23.

ExxonMobil has announced the startup of two new chemical production units at its Baytown, Texas, US, manufacturing facility.

Monthly average natural gas wholesale spot prices at the US benchmark Henry Hub have been generally declining so far in 2023, but these relatively low prices do not immediately translate into lower retail prices for residential consumers.

The EIA has reported that record volumes of crude oil were imported into China during 1H23 because of refinery expansions in the country and initiatives to reopen the economy.

Topsoe will provide its HydroFlex technology for the production of renewable fuels at the Cilacap Refinery Complex in Central Java, Indonesia.

Aramco has agreed to purchase a 100% equity stake in Esmax Distribusción SpA (Esmax), a downstream fuels retailer in Chile.

Use of energy for transportation remained low in the US during 2021 compared with pre-pandemic levels and only increased in 12 states.