capital expenditure
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 […]
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 […]
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 […]
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 Stavanger, Norway. It is the first […]
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 faster than expected. Until then, […]
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 the process such as Lube […]
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 runs around 550,000 t/y lubricants, […]
