Industry Insights

Darius Sweet has been appointed as chief executive officer of Limetree Bay Terminals LLC, the joint venture of ArcLight Capital Partners LLC and Freepoint Commodities LLC that recently purchased idled storage terminals, refining units, and marine infrastructure at former Hovensa LLC’s idled refinery at Limetree Bay, on the island of St. Croix. Source: News

In its latest Short-Term Energy Outlook, the US Energy Information Administration forecasts the price of Brent crude oil to average $34/bbl in 2016 compared with an earlier forecast of $37/bbl. In 2017, EIA forecasts Brent to average $40/bbl compared with $50/bbl in last month’s forecast. Source: News

Hengli Petrochemical (Dalian) Co. Ltd. (HPDC) has let a contract to a division of E.I. DuPont de Nemours & Co. to provide process technologies for an alkylation unit to be built at HPDC’s grassroots crude-to-paraxylene integrated refining and petrochemical project in Hengli Petrochemical Industrial Park (HPIP) on Changxing Island in Dalian, Liaoning Province, China. […]

State Oil Co. of Azerbaijan Republic (SOCAR) has let a contract to the SOCAR-KBR LLC joint venture to provide project management consultancy (PMC) for the ongoing modernization and expansion of the Heydar Aliyev refinery at Baku in Azerbaijan. Source: News

Malaysia’s state-owned Petronas said its first floating LNG (FLNG) facility is expected to sail in the second quarter. A Mar. 4 naming ceremony marked completion of construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) shipyard in Okpo, South Korea. Source: News

Algeria’s state-owned Sonatrach SPA has let a series of contracts to Amec Foster Wheeler (AFW) to provide front-end engineering and design (FEED) for three grassroots refineries that will add a total of 15 million tonnes/year in refining capacity in the country. Source: News