Archive for April, 2012

ONGC and ConocoPhillips sign MoU for shale gas in India

Oil and Natural Gas Corporation Limited (ONGC), India and ConocoPhillips, USA, have signed on March 30th a Memorandum of Understanding (MoU) to co-operate and develop the shale gas resources in India, North America and elsewhere besides deep water opportunities in Eastern offshore India.  The unprecedented growth of shale gas in the […]

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“MoU”

Definition: “MoU” is the acronym for Memorandum Of Understanding. MoU may also be called Letter of Intent (LoI) Comments: A MoU is a document by which two parties describe how they intend to work together. It can be just a technical base line of co-operation or a more extended agreement with commercial […]

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Lundin $4.2 billion Edvard Grieg oil field development approved

Lundin Petroleum received the formal approval from the Norwegian Ministry of Petroleum and Energy to proceed with the $4.2 billion plan development and operation (PDO) of the Edvard Grieg oil field. The Edvard Grieg oil field was previously called  Luno and is located in the Norwegian North Sea close to the Tellus discoveries, 180 kilometers west of […]

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How shale gas reshapes the Oil&Gas and Petrochemical industry

When the USA, led by companies like ExxonMobil or Chesapeake, decided to boost the development of shale gas, the world perceived it as a local matter to help this country to reduce its reliance on overseas production countries. Then in 2011, the USA have become already self sufficient in gas, much […]

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Lube oil

Definition: “Lube Oil” is a lubricant, to be used in all mechanical system to reduce friction between moving parts. Produced out of crude oil, this Lube oil is also called Mineral oil. Comments: The word Lubricant is mostly used to speak about the products, while Lube oil is normally referring to […]

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The $1 billion Luberef Yanbu Lube Oil Refinery on Bidding

Luberef stands for the Saudi Aramco Lubricating Oil Refining Company created by Saudi Aramco and ExxonMobil. But since 2007, Luberef is a 70/30 joined venture between Saudi Aramco and Jadwa Investment to operate lube oil refineries in Yanbu and Jeddah. With Jeddah and Yanbu refineries, the total Luberef actual capacity […]

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Sabic invests $100 million in Shanghai Technology Center

Sabic takes a decisive leap in breaking-ground for this $100 million capital expenditures in Technology Center in Kangqiao, close to Pudong Airport, east of Shanghai. This Technology Center will use 60,000 sqm in a brand new building to host 400 employees, including 200 scientists and engineers working in Research & […]

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Polycarbonate

Definition: “Polycarbonate” name comes from a polymer based on combination of carbonate groups (–O–(C=O)–O–).  Comments: Polycarbonate is issued from the Aromatics family as produced out of Bisphenol A. Most of the polycarbonates are derived from rigid monomers. A balance of useful features including temperature resistance, impact resistance and optical properties position polycarbonates. The polycarbonates […]

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“PTA”

Definition: “PTA” is the acronym of Purified Terephthalic Acid. Comment: Modern technologies produce PTA by the catalytic liquid-phase oxidation of Para-Xylene (PX) in acetic acid, which is done in the presence of air and uses manganese or cobalt acetate as a catalyst. PTA is purified in a crystallizer, where unreacted xylene […]

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Sinopec & Sabic sign for $1.7 billion Tianjin Polycarbonate

Sinopec and Sabic have decided to extend their co-operation with this major Polycarbonate complex to be built in the Tianjin Binhai New Area, China In October 2009, Sinopec and Sabic had created a 50/50 shared joined venture, called Sinopec SABIC Tianjin Petrochemical Company (SSTPC), for a 1 million t/y Ethylene cracker which went […]

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