Taiwan

Qatar Petroleum Ras Laffan Refinery phase 2 at last round negotiations

Technip completed FEED for Ras Laffan Refinery Expansion project Since Technip completed the  front end engineering and design (FEED) contract the Ras Laffan Refinery Expansion project is moving into its final bidding phase for the engineering, procurement and construction (EPC) contract with only four companies still in the competition such as selected by Qatar Petroleum (QP) and its partners, ExxonMobil, Total, Cosmo Oil …

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“EEZ”

Definition EEZ is the acronym of Exclusive Economic Zone EEZ defines the maritime area of 200 nautical miles distance (370 km)  from the coast baseline where each state is entitled to empower its sovereign rights. Comments The legal definition of the EEZ was given in 1982 by the United Nation Convention on the Law of …

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Taiwan to invest $3.3 billion to upgrade Petrochemical Industry

Taipei spots Petrochemicals as a strategic sector December 2011 – In an effort to maximize the economic value of petrochemical materials and minimize carbon emission, the Ministry of Economic Affairs (MOEA) of Tawain set up the  High Value Petrochemical Industry Promotion Office (PIPO) with the missions to:  – Establish R&D centers  – Form information platform for the strategic alliances, …

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Take-or-Pay Contract

Definition “Take-or-Pay Contract” is one of the three most used LNG contracts type, see comments below. Take-or-Pay Contract are written agreements between a buyer and seller that obligate the buyer to pay regardless of whether or not the seller delivers the good or service. Generally, this obligation to pay does not involve the full amount due …

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JCC Contract

Definition “JCC” is the acronym of Japanese Crude Cocktail or more formally Japan Customs-cleared Crude. This Japanese Crude Cocktail results from a basket of the most traded crude oils to be used as the reference price for long-term supply LNG Contracts. Japan created the JCC Contracts  after the first oil shock, in the early 1970s, to secure its first …

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The $1 billion Luberef Yanbu Lube Oil Refinery on Bidding

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, …

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