Downstream contract news

Prefere Resins will acquire INEOS Melamines & Paraform in a transaction which is expected to complete in 2Q19.

Zhejiang Energy will receive 1 million tpy of LNG from ExxonMobil for 20 years and is planning to build an LNG receiving terminal.

Saudi Aramco will acquire a 17% stake in South Korea’s Hyundai Oilbank for approximately US$1.25 billion.

The signing of a sales-purchase agreement by MOL to acquire Aurora signals MOL’s entry into recycled plastic compounding.

Marathon Petroleum Corp. to acquire a terminal and retail locations in Buffalo, New York.

HRRL has selected Axens to supply technology for its new integrated refinery and petrochemical complex in Pachpadra Tehsil, India.

Wood has been awarded an EPC support services contract for the installation of a 55 000 bpd, four drum delayed coking unit at a Port Arthur refinery in Southeast Texas, US.

The methanol plant, which will be located in Bintulu, Sarawak State, Eastern Malaysia, will come into operation in 2023.

Working together, both parties will explore opportunities for cooperation to promote natural gas and LNG development.

Fluor Corporation has announced that its joint venture with TechnipFMC has successfully completed its EPCM services.