The International Maritime Organization’s (IMO’s) 2020 regulation has been described as the most disruptive change to impact the oil industry in the past 30 yr.
When top oil marketer Geneva Energy Markets LLC liquidated its trading book holding1 “millions of barrels of open interest across crude oil, refined products and natural gas,” managing partner Mark Vonderheide emphasized the pressures and potential damage of new market regulations.
According to multiple industry reports, the global refining sector will add between 7 MMbpd and 8 MMbpd of new crude distillation unit (CDU) capacity by the early 2020s.
US margins recorded losses as crack spreads declined for all products except fuel oil, despite lower refinery crude intakes.
The Chinese refining industry is on the verge of massive production cuts and consolidation. A new tax rule aimed at curbing alleged tax evasion by independents and the end of an era of liberalization in the industry are driving the downsizing.
Alkhasli, E., SOCAR Turkey Enerji;
Baerends, M.,
Baars, F., Fluor Energy and Chemicals;
Khidirov, B., SOCAR;
Asgar-zadeh, S., Azerbaijan National Academy of Sciences
The following case study describes the early development phases of SOCAR’s ongoing major revamp project at the Heydar Aliyev Refinery (HAR) in Baku, Azerbaijan, and its interface with the associated Azerikimya (AZK) steam cracking complex near Sumgait. References are made to the related SOCAR polymer project in Sumgayit, as well.
With the exception of fuel oil, US product markets showed losses against pressure from across the barrel and high crude oil prices.
Hydrocarbon Processing, the downstream processing sector’s leading technical publication, has announced the finalists for its second annual awards.
Fuel is a necessary requirement of global economic development.
It is no surprise that electric vehicles (EVs) are getting a lot more attention, now that carmakers have announced plans to increase production of them.