Petrochemicals

Demand for petrochemicals in India is expected to remain resilient as consumption of products is rebounding, executives in the industry told Reuters this week. India’s petrochemicals demand will be a bright spot among the major markets, amid a slowdown in demand in other markets, most notably China, and new supply …

Iranian Oil Minister Mohsen Paknejad has stated that the Islamic Republic is planning to invest up to $120 billion in petroleum projects as the country seeks to increase its oil and gas production to respond to a rising demand for energy. Paknejad said on Saturday that Iran will invest some …

Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China’s Fujian province. The new venture includes a 16 million metric ton-per-year (tpy), or 320,000 barrels per day refinery, a 1.5 million tpy ethylene plant, a 2 million paraxylene …

India is positioning itself for a petrochemical boom, with $87 billion expected over the next decade to meet surging demand. As more of its citizens rise into the middle class, the need for petrochemical-based products—from plastics to fertilizers—is set to soar. According to India’s oil minister, Hardeep Singh Puri, this …

Saudi oil giant Aramco is proceeding with plans to boost its downstream presence in its most important export market, China, with discussions to buy a minority stake in a Chinese petrochemical company. Aramco has entered into discussions with Hengli Group Co., Ltd. regarding the potential acquisition of a 10% stake …

Last year, Bloomberg caused quite a stir in energy circles when it predicted that global demand for road fuel will peak in 2027. According to Bloomberg, demand for road fuel will hit an all-time high of 49 million barrels per day just three years from now before entering terminal decline. …

Petrochemicals have been driving oil demand in recent years but that could all change if new restrictions come into place to curb the production of plastics and other products. The global demand for petrochemicals has been gradually rising over the last two decades, as an increasing number of consumers spend …

Qatar is paving the way to build a new chemical plant in Algeria as part of a potential partnership with the country’s state-owned Sonatrach, Elkhabar Daily reported. The partnership between Qatar’s Power International Holding and Sonatrach would include the construction of a new petrochemical complex that will produce raw materials …

The idea that the energy transition to an energy system dominated by wind and solar power appears to be at odds with the idea of an oil and gas refining industry. Yet this is a superficial contradiction: wind and solar cannot exist without oil and gas refining. Now, Chinese refiners …

Saudi Arabian Oil Company (Aramco) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday. “Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, …