Downstream news

GlobalData has reported that Iran is set to lead Middle East new-build refining capacity additions by 2024.

LyondellBasell and Bora have signed definitive agreements to form a Chinese petrochemical joint venture.

Prostar will invest up to US$100 million in expanding and upgrading its GTI Statia storage terminal.

WEKA has fully licensed Toshniwal to produce WEKA magnetic level indicators locally, expanding its Indian presence.

Due to COVID-19, IHS Markit anticipates 1Q20 world oil demand to decline by the largest volume in history.

Burckhardt Compression has announced the acquisition of Japan Steel Works’ global compressor business.

Hannover Messe has announced that it will be postponed to July 2020 due to the developing COVID-19 coronavirus outbreak.

Adler and Allan has announced that it has expanded its non-destructive testing team.

Sulzer has announced the opening of a new service centre in Riyadh, building on its local pump manufacturing capabilities.

Implico and Brainum have announced that they will showcase new cloud solutions and web services at StocExpo.