Middle East
OPEC sees balanced oil market by late 2018 as cuts erode glut
LONDON (Reuters) — OPEC expects the world oil market to be balanced by late 2018 as its deal with other producers to cut output reduces excess oil in storage, even as US and other producers outside the group pump more crude.
Saudi Aramco lifts spending plans to $414 B over next decade
DAMMAM, Saudi Arabia (Reuters) — Saudi Aramco plans to raise its spending to $414 B over the next 10 yr, including on infrastructure and drilling, as the state oil giant moves into new businesses, executives said.
Saudi Arabia to supply full Jan crude volumes to several Asian buyers
TOKYO/SINGAPORE (Reuters) — Saudi Arabia, the world's top oil exporter, will supply full contractual volumes of crude to five North Asian refiners in January, unchanged from the previous month, five sources with direct knowledge of the matter said on Monday.
Iraq boosts output capacity at Kirkuk oil refinery
BAGHDAD (Reuters) — Iraq's Oil Ministry has added a new processing unit to the Kirkuk oil refinery, increasing the plant’s capacity to 56,000 bpd, the ministry said in a statement on Monday.
CB&I awarded EPC contract for Aramco, Shell refinery
THE WOODLANDS, Texas — CB&I announced it has been awarded a contract for more than $95 MM by Saudi Aramco Shell Refinery (SASREF).
SABIC looking at investing in US gas
(Reuters) — Petrochemicals company Saudi Basic Industries Corp (SABIC) is considering several possible investments in the United States, while state oil giant Saudi Aramco is looking at gas prospects abroad, Saudi energy minister said on Wednesday.
SABIC to open office in Iraq as relations improve
DUBAI (Reuters) — Petrochemical giant Saudi Basic Industries Corp (SABIC) plans to open an office in Iraq soon, Saudi Arabia's energy minister said during a visit to Iraq's southern oil city of Basra, as relations between Riyadh and Baghdad thaw.
Global Project Data
<i>Hydrocarbon Processing</i>’s Construction Boxscore Database is tracking more than 1,700 active downstream projects around the world.
Business Trends: Propane dehydrogenation technology is transforming the propylene business
Propylene demand has been increasing rapidly in recent years, and traditional processes are struggling to keep up.
Industry Perspectives: New downstream project announcements drop 14% in 2017
According to Hydrocarbon Processing’s Construction Boxscore Database, more than 770 new projects have been announced over the past 3 yr.
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