Petrochemicals

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, …

Managing Director of National Petrochemical Company said that 10 petrochemical projects will be inaugurated in the country this year. Morteza Shahmirzaei made the remarks at the press conference of the 14th edition of international conference of the Iranian petrochemical industry or IPF held in Tehran. He stated that the capacity …

The Islamic Republic of Iran exported petrochemical products worth $26 billion in the last Iranian calendar year (March 21, 2022 to March 20, 2023), according to a senior official at the country’s Oil Ministry. Deputy Oil Minister and CEO of the National Petrochemical Company (NPC) Morteza Shahmirzaei announced the figures …

Saudi Aramco’s new refinery deal to buy a 10% stake in private Chinese chemical group Rongsheng Petrochemical includes agreements on crude oil storage in eastern China and the supply of plastics and petrochemicals to the Middle East energy giant. Saudi Aramco said on Monday it would buy the stake in …

Aramco, one of the world’s leading integrated energy and chemicals companies, has joined forces with Linde Engineering, a global leader in the production and processing of gases, to develop a new ammonia cracking technology. The collaboration between the two companies will see Linde Engineering and Aramco’s experience and capabilities being …

Investments in the development of the Turkish petrochemical complex Petkim Petrokimya Holding in 2022 reached 4.108 billion Turkish lira, or $214.6 million, the holding said. SOCAR Turkey Enerji, the Turkish subsidiary of the State Oil Company of Azerbaijan, SOCAR, is the owner of a 51% controlling stake in the Petkim …

China’s petrochemical industry saw an increase in revenues and a decline in profits in 2022, according to the China Petroleum and Chemical Industry Federation (CPCIF). The country’s petrochemical industry registered a total revenue of 16.56 trillion yuan (about 2.41 trillion U.S. dollars) in 2022, climbing 14.4 percent year on year, …