Insights

Chevron Phillips Chemical Corporation (CP Chem) has selected its existing Cedar Bayou facility in Baytown, Texas, USA, to build its new “world-scale” 1.5 million t/y ethylene plant. The ethane will come from the local shale gas resources considered now as a competitive and sustainable feed stock. The ethane cracker will use the Shaw technology and […]

TNK-BP is planning to invest $4 billion during the next three years to develop Arctic oil and gas fields. The intention is to compensate the natural decline of production from the aged Russian fields. “TNK-BP is developing four oil fields in Northern Russia’s Yamal region with first oil planned in 2016 and production to reach […]

Definition:  The acronym “EPCM” stands for “Engineering, Procurement and Construction Management”. It may also be called “EPCS” for “Engineering, Procurement and Construction Services” or “PMS” for “Project Management Services”. As expressed clearly in the “PMS” definition, the “EPCM” refers to very different role from the “EPC” where the engineering company having the “EPCM” contract, supports […]

Qatar Petroleum (QP) and Shell have signed a Head of Agreement to build $6.4 billion olefins and derivatives complex in Ras Laffan, Qatar. QP and Shell have already performed the feasibility study of this complex to be owned 80% by QP and 20% by Shell and to supply the Asia markets. The project includes: –          […]

According to the last financial study released by Al-Rajhi Capital, the growth forecast of the Saudi Arabian petrochemical companies is healthy, despite lingering uncertainties in the global economies. Because of their diversified activities, companies like SABIC or TASNEE should not be impacted by the feedstock costs increase in 2013 as could be the “pure-play producers”. […]

Qatar Petroleum (QP) and Qatar Petrochemicals Corporation (Qapco) have agreed to proceed with the $5.5 billion petrochemical complex in Ras Laffan, Qatar. The project will be owned by 80% by QP, 20% by Qapco, and will have a capacity of: –          1.4 million t/y ethylene –          850 000 t/y high density polyethylene (HDPE) –          430 000 t/y […]

Definition: The acronym “EPC” stands for “Engineering Procurement and Construction”. Sometimes “EPCC” may be used for “Engineering Procurement, Construction and Commissioning”. In both cases, it refers to the execution phase following the “FEED” during which the engineering companies design all the details of the project for execution, proceed to the procurement of all the equipment […]

For 2011, Shell reported $470 billion revenues and $37 billion in free cash flow, well supported by an average price of the barrel over $100 and a shift in the gas market toward countries with higher added value. Today the gas business represents more than 50% of Shell revenues. With a cash flow expected to […]

Definition: This acronym “FEED” stands for the “Front End Engineering and Design” of a project. The “FEED” may also be called “Basic Design” or even “Basic”. This phase follows the “Feasibility Study” to describe in more details the different technical and financial options considered during the feasibility study. The “FEED” will define the process, the […]

 INPEX has established a joint venture with Total, a France-based firm, with the parties holding 76% and 24% shares, respectively. They announced on January 13th 2012 that they have taken the final investment decision for the Ichthys liquefied natural gas (LNG) project in Australia. The project budget jumped by 70%, from US$20 billion dollars to […]