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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...
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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...
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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...
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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...
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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...
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ExxonMobil hits gas in Phu Khanh basin offshore Vietnam
Acquired blocks from BP offshore Vietnam smile to ExxonMobil ExxonMobil acquired the blocks 117,118 and 119 offshore Da Nang on central Vietnam coast in the Phu Khanh Basin from BP in 2009. At that...
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Sabic Al Jubail Polyacetal project at final bid
Ibn Sina to move ahead in high performance chemicals Saudi Basic Industries Corp (Sabic) and its partners in Ibn Sina joint venture, Celanese Corp (Celanese) and Duke Energy Corp., have decided to...
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Versalis takes ground on Asia-Pacific to go global
After Petronas Rapid joint venture Versalis go to China On April 2012, the Italian national oil company Eni decided to rename its chemical branch Polimeri Europa into Versalis. Beyond the branding...
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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...
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