Latest News

Latest News

First Liza FPSO arrives offshore Guyana

Sep 02, 2019

After a 42-day journey from Singapore, the FPSO Liza Destiny has arrived at the Stabroek block offshore Guyana, according to Hess Corp.After clearing customs, hookup and installation of the FPSO will begin.The Liza Destiny, Guyana’s first oil production vessel, is designed to produce up to 120,000 b/d. The Liza Phase 1 development is on track for startup by 1Q 2020. Phase 1 includes the FPSO and four subsea drill centers with 17 production wells. ExxonMobil ... Read More

Kuwait seeks $2.6bn loan for LNG terminal

May 31, 2018

MEED State-owned operator will use the money raised to develop the project in the Al-Zour master development. The Kuwait Integrated Petroleum Industries Company (KIPIC) is looking to borrow up to $2.6bn from banks and export credit agencies to build its planned liquefied natural gas (LNG) import terminal in Kuwait, according to a report. State-owned Kuwait Petroleum Corporation’s subsidiary KIPIC will use the money raised to develop the terminal at Kuwait... Read More

Qatar Petroleum to build world-scale petrochemicals complex

May 31, 2018

Tank Storage Magazine Qatar Petroleum has announced plans to build a world-scale petrochemical complex, with the largest ethane cracker in the Middle East. The company has invited a group of leading international companies to submit proposals for the development and operation of a new complex with Qatar Petroleum at Ras Laffan Industrial City. The complex will include an ethane cracker with a capacity of more than 1.6 million tonnes per annum of ethylene – ... Read More

Elite Petrochemical Launches First Private-Sector LPG Project In Myanmar

May 31, 2018 [Myanmar Times] - Elite Petrochemical Co launched its Liquefied Petroleum Gas (LPG) Terminal and Port Facility at the Thilawa Special Economic Zone on Saturday. The terminal is the first private sector-led LPG investment open for business in the country. The terminal was developed under a Build, Operate and Transfer (BOT) agreement across 49 acres of land in Thilawa after receiving approval from the Myanmar Investment Commission and on recommen... Read More

Malaysia says concludes talks with Saudi Aramco over Rapid investment

Mar 21, 2018

The Business Times [KUALA LUMPUR] Malaysia has completed talks with Saudi Aramco over the oil giant's planned US$7 billion investment in Petronas' Refinery and Petrochemical Integrated Development (Rapid) project, said the minister in the prime minister's department, Abdul Rahman Dahlan. Aramco's investment will come in by the end of the month, minister Abdul Rahman said on Tuesday at the OTC Asia conference. Saudi Aramco agreed last February to buy a US$7 bill... Read More