Petrochemicals

U.S. Energy Department to allocate $118 MM to biofuels projects

The U.S. Department of Energy (DOE) this week will announce over $100 MM in funding to expand U.S. biofuels production, as the Biden administration works to cut greenhouse gas emissions from transportation and meet climate goals.

Veolia Water Technologies & Solutions and OLI Systems to team up for digital transformation projects

Veolia Water Technologies & Solutions announced a collaboration with OLI Systems, a leader in water chemistry-based process simulation and electrolyte thermodynamics, to optimize operating performance in the refining and petrochemical industries.

Baltic states bought twice as much Russian LPG last year

Russian exporters more than doubled sales of liquefied petroleum gas to the Baltic states in 2022, some of which was sold on to Ukraine, according to data from three trading and freight-handling sources covering the region.

Sonatrach, Sasol to produce 'low carbon' hydrogen in Sicily

Algerian state energy company Sonatrach is teaming up with South Africa's petrochemical group Sasol on a project in Sicily to produce "low carbon" hydrogen and synthetic natural gas (syngas) as well as to capture and reuse CO2.

BASF shareholders say Russia exit sets up oil and gas IPO

BASF investors said that oil and gas business Wintershall Dea's exit from Russia, though painful, clears the way for plans to take it public and for BASF to focus on its chemicals operations.

Nuberg EPC wins 550 TPD sulfuric acid plant project in Czech Republic

Sulfuric Acid produced by the 550 TPD sulfuric acid plant project in Czech Republic will be used for petrochemical and fertilizer based applications.

Crude oil prices forecast to decline beginning in the second half of 2023

In the EIA's January 2023 Short-Term Energy Outlook, it was forecast the Brent crude oil price (the global benchmark) will rise from an average $81 per barrel (b) in December 2022 to average $83/b in the first quarter of 2023.

Green industries could be worth $10.3 T to economy by 2050

Industries helping the world shift to net-zero emissions could be worth $10.3 T to the global economy by 2050, sustainable development consultancy Arup and economics advisory firm Oxford Economics said in a report on Tuesday.

Sinopec releases China Energy Outlook 2060, anchoring new path of energy transformation development

This is Sinopec’s first publicly released research findings of their medium and long-term energy outlook, providing a new perspective for the scientific planning of transformation and development of China’s energy and chemical industries.

Maire Tecnimont signs already announced $1.3 B EPC petrochemical contract

The $1.3 B EPC Lump Sum contract, already announced on December 21, 2022, is part of this complex and has been awarded to Tecnimont by a Joint Venture composed of QatarEnergy and Chevron Phillips Chemical.