Petrochemical

No Deal Yet as Braskem Idesa, Pemex In Talks to Modify Ethane Supply Contract

No Deal Yet as Braskem Idesa, Pemex In Talks to Modify Ethane Supply Contract

The terms of a new ethane supply agreement between Mexican national oil company Petróleos Mexicanos (Pemex) and petrochemical firm Braskem Idesa remain under discussion, despite indications from the government that a new agreement had been finalized, according to management of Braskem Idesa parent Braskem SA. The current 20-year, take-or-pay/supply-or-pay contract for Pemex to supply 66,000…

March 17, 2021
Pembina Blames Pandemic for Shelving Alberta Petrochemical Project

Pembina Blames Pandemic for Shelving Alberta Petrochemical Project

The Covid-19 virus has stalled a C$4.5 billion ($3.4 billion) Alberta petrochemical project and its forecast demand for 23,000 b/d of natural gas liquids, according to sponsor Pembina Pipeline Corp. Pembina, in issuing its 2021 capital budget on Monday, said it has shelved the proposed project with Kuwait partner Petrochemical Industries Co. until further notice.…

December 15, 2020
Easton Energy Snags ExxonMobil’s South Texas Petrochemical Pipeline

Easton Energy Snags ExxonMobil’s South Texas Petrochemical Pipeline

Houston-based Easton Energy LLC is expanding its midstream assets in South Texas, agreeing to buy a petrochemical pipeline system from ExxonMobil for an undisclosed amount. The South Texas Pipeline System runs 720 miles from ExxonMobil’s Clear Lake and Katy gas plants near Houston to Energy Transfer LP’s King Ranch gas plant and the Port of…

November 12, 2020
Alberta Offering Construction Subsidy for Natural Gas-Focused Petrochemical Plants

Alberta Offering Construction Subsidy for Natural Gas-Focused Petrochemical Plants

The Alberta government has posted a subsidy offer to pay 12% of construction costs for petrochemical projects that use liquid byproducts of natural gas as raw materials. No ceilings limit the total value of the Alberta Petrochemicals Incentive Program (APIP) or the sizes of aid candidates. The sole restraints exclude coverage of cost overruns and…

November 2, 2020
Work on Shell’s Pennsylvania Ethane Cracker Progressing, but Schedule Clouded by Covid-19

Work on Shell’s Pennsylvania Ethane Cracker Progressing, but Schedule Clouded by Covid-19

Construction of Royal Dutch Shell plc’s multi-billion dollar ethane cracker in western Pennsylvania is about 70% complete, while the 98-mile pipeline system that would feed the facility is 95% complete, a company executive said Tuesday, noting that the Covid-19 pandemic has complicated the project. “All of the major equipment is up, all of the modules…

September 29, 2020
Mountaineer NGL Storage Pulls Key Ohio Permits, But Project Still Moving Ahead

Mountaineer NGL Storage Pulls Key Ohio Permits, But Project Still Moving Ahead

An underground natural gas liquids (NGL) storage project in Ohio — seen as key to the Appalachian Basin’s petrochemical buildout — has hit another snag as its backers have withdrawn their permits in the face of a lawsuit from environmental groups.  The Ohio Department of Natural Resources (ODNR) last week cancelled three permits to drill…

September 29, 2020
EIA Says U.S. Ethane Production to Grow at Steady Clip Through 2021

EIA Says U.S. Ethane Production to Grow at Steady Clip Through 2021

A rebound in demand for ethane as a key feedstock for petrochemical manufacturing should fuel production growth through 2021, according to the Energy Information Administration (EIA). EIA forecasted in its August Short-Term Energy Outlook that ethane production would exceed 2 million b/d by the fourth quarter. That would mark a 9% increase from the start…

August 14, 2020
Ohio NGL Project Lands First Customer in Possible Breakthrough for Appalachian Hub

Ohio NGL Project Lands First Customer in Possible Breakthrough for Appalachian Hub

Plans for an underground natural gas liquids (NGL) storage facility in Ohio seen as key to the region’s petrochemical build-out have moved another step closer to reality as the backer of a multi-billion dollar ethane cracker has signed a preliminary agreement to further its development.   Energy Storage Ventures LLC (ESV) and an affiliate of Thailand’s…

July 27, 2020
Daelim Cites Covid-19 in Dropping Stake in Ohio Ethane Cracker

Daelim Cites Covid-19 in Dropping Stake in Ohio Ethane Cracker

PTT Global Chemical pcl has lost its equity partner in a multi-billion dollar ethane cracker proposed for southeast Ohio.  Daelim Chemical USA dropped its stake, citing the Covid-19 pandemic’s impact on the project timeline and the global economy’s impact on its investment plans. PTT affiliate PTTGC America LLC said it would move ahead with the…

July 17, 2020
BP Strikes $5B Deal to Sell Petrochemicals Business to Ineos as Energy Transition Escalates

BP Strikes $5B Deal to Sell Petrochemicals Business to Ineos as Energy Transition Escalates

BP plc on Monday announced it is selling off its substantial petrochemicals business, much of it in the United States, in a $5 billion deal with chemicals giant Ineos Group. The sale, designed as “the next strategic step in reinventing BP,” would strengthen the balance sheet and deliver on the supermajor’s $15 billion total planned…

June 29, 2020
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