Insights

Definition “Bio-Plastic” refers to plastic produced out of biomass as all so called bio-products. They belong to the bio-based chemical family. They may be used for industrial fibers (bio-fibers) and chemicals (bio-chemical). The bio-platics are biodegradable through composting. Some can be composted under the harsher conditions of domestic composting, while others biodegrade in the soil. Comments The […]

Versalis (ENI) and Novamont innovate with the Porto Torres bio-chemical complex Matrica Spa is a 50:50 joint venture between Versalis, previously called Polimeri Europa (the biggest Italian chemical company, a subsidiary of Eni), and Novamont (a global market leader in biodegradable plastics). Matrica has the mission to design, build and operate chemical plants using vegetable oil […]

While Phillips 66 sells Trainer refinery to Delta Air Lines, BP will supply the crude. Phillips 66, the newly created company to take over the ConocoPhillips Downstream activities is going to sell its Trainer Refinery, close to Philadelphia, Pennsylvania,USA, to Delta Air Lines for $150 million. This refinery has a capacity of 185,000b/d of light […]

Definition: “Call for Tender” is the process by which a company invites potential suppliers to submit offers for the execution of a contract. Comments: In the Oil&Gas and Petrochemical industry this process is very formal as potential bidders must first go through a very demanding qualification process. This qualification process normally assesses and validates the […]

The Dow Chemical Company (Dow) will spend $4 billion in capital expenditure for this ethylene and propylene production facilities in Freeport, Texas, USA. This Olefins project illustrates the previous news about the consequences of the Shale gas to provide long term feedstock at very competitive price to the Downstream activities. As a good example of the relocation into USA of the petrochemical industry, this new ethylene […]

It is not every day that a Major company shakes up its Oil&Gas business model and introduce a new brand to re-position its strategy and consolidate its Market Leadership. But in July 2011, ConocoPhillips had announced to spin off all their Midstream and Downstream activities under the name of Phillips 66. On May 1st, 2012 […]

Definition: “LoI” is the acronym for Letter of Intent . Comments: A LoI 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 and financial terms. Depending on the countries, a LoI may be considered as a formal bidding contract or not. A LoI may also be called Memorandum Of […]

Mariner is the first field to be developed from the $9.6 billion capital expenditure Mariner & Bressay project located in the UK North Sea Because the offshore ultra heavy crude oil is one of the most challenging exploration & production of the Oil&Gas sector, Statoil decided to proceed step by step. Mariner will go first and Bressay will follow one […]

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 USA has generated new hopes […]

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 and financial terms. Depending on […]