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Qatar Petroleum to build world-scale petrochemicals complex
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
Kuwait seeks $2.6bn loan for LNG terminal
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
Aramco eyes local IPO, may spike overseas listing: report
The Business Times [NEW YORK] Saudi Arabia plans to sell shares of Saudi Aramco on a local exchange and may scuttle entirely an earlier plan for an overseas listing, The Wall Street Journal reported Monday. Aramco had previously discussed an initial public offering in the latter half of 2018 and had been eyeing a listing on New York or another international exchange. However, the oil giant is now contemplating listing on a domestic stock exchange, viewing the l... Read More
Malaysia says concludes talks with Saudi Aramco over Rapid investment
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
Summit Power inks pact with Mitsubishi for integrated LNG terminal, power project in Bangladesh
The Business Times SINGAPORE-based Summit Power International (SPI) and Mitsubishi Corporation have signed a memorandum of understanding (MOU) to develop an LNG-to-power project, which is expected to cost up to US$3 billion, at Matarbari, Bangladesh. Under the MOU, the parties will develop an integrated liquefied natural gas (LNG) terminal with a regasification capacity of up to 1,500 million cubic feet per day, two units of 1,200 megawatt gas turbine combined c... Read More