Technip completed FEED for Ras Laffan Refinery Expansion project Since Technip completed the front end engineering and design (FEED) contract the Ras Laffan Refinery Expansion project is moving into its final bidding phase for the engineering, procurement and construction (EPC) contract with only four companies still in the competition such as selected by Qatar Petroleum (QP) and (more…)
Read moreAfter Petronas Rapid joint venture Versalis go to China On April 2012, the Italian national oil company Eni decided to rename its chemical branch Polimeri Europa into Versalis. Beyond the branding operation, Eni intends to go global with its Europe centric chemical business to benefit from the high growth in (more…)
Read more
24
Aug
2012
Sabic Al Jubail Polyacetal project at final bid
Ibn Sina to move ahead in high performance chemicals Saudi Basic Industries Corp (Sabic) and its partners in Ibn Sina joint venture, Celanese Corp (Celanese) and Duke Energy Corp., have decided to reactivated the Polyacetal (POM) project in Al Jubail Industrial City, Saudi Arabia. Ibn Sina is the common name (more…)
Read moreAcquired blocks from BP offshore Vietnam smile to ExxonMobil ExxonMobil acquired the blocks 117,118 and 119 offshore Da Nang on central Vietnam coast in the Phu Khanh Basin from BP in 2009. At that time BP managed to extract gas from these fields but with high content of hydrogen sulfide (more…)
Read more
13
Aug
2012
“EEZ”
Definition EEZ is the acronym of Exclusive Economic Zone EEZ defines the maritime area of 200 nautical miles distance (370 km) from the coast baseline where each state is entitled to empower its sovereign rights. Comments The legal definition of the EEZ was given in 1982 by the United Nation (more…)
Read moreTaipei spots Petrochemicals as a strategic sector December 2011 - In an effort to maximize the economic value of petrochemical materials and minimize carbon emission, the Ministry of Economic Affairs (MOEA) of Tawain set up the High Value Petrochemical Industry Promotion Office (PIPO) with the missions to: - Establish R&D centers - Form information (more…)
Read more
07
May
2012
Take-or-Pay Contract
Definition “Take-or-Pay Contract” is one of the three most used LNG contracts type, see comments below. Take-or-Pay Contract are written agreements between a buyer and seller that obligate the buyer to pay regardless of whether or not the seller delivers the good or service. Generally, this obligation to pay does not (more…)
Read more
04
May
2012
JCC Contract
Definition “JCC” is the acronym of Japanese Crude Cocktail or more formally Japan Customs-cleared Crude. This Japanese Crude Cocktail results from a basket of the most traded crude oils to be used as the reference price for long-term supply LNG Contracts. Japan created the JCC Contracts after the first oil shock, in the early (more…)
Read more
Recent Comments