Asian Downstream Insights | Cutting-edge trends from the oil & gas sector

Exxonmobil advancing Singapore Resid Upgrade Project towards 2025 startup

ExxonMobil expects to add approximately 20,000 barrels per day of light, heavy and extra-heavy lubricant base stocks when upgrades at its Singapore integrated refining and petrochemical complex are complete in 2025. “ExxonMobil is introducing a unique high-viscosity Group II clear and bright base stock at a large scale,” said Todd Sepulveda, vice president of Basestocks…

Report: $759bn required for petrochemicals to achieve net-zero

759 billion dollars. That’s how much the petrochemicals sector is estimated to need if it’s going to achieve net-zero by 2050, if this recent report by research firm BloombergNEF (BNEF) is anything to go by. Titled “Decarbonizing Petrochemicals: A Net Zero Pathway”, the report states that electrification and carbon capture and storage (CCS) will likely…

ENEOS, PETRONAS, PTTEP to withdraw from Myanmar

ENEOS subsidiary JX Nippon Oil & Gas Exploration Corporation has announced plans to exit Myanmar, withdrawing from the Yetagun gas project due to concerns about “the country’s current situation”. PETRONAS subsidiaries PETRONAS Carigali Myanmar Inc and PC Myanmar have similarly announced their intentions to withdraw from the Yetagun gas project. So has Thailand’s PTTEP, calling…

Shell claims “strong progress” towards net zero

Shell recently published its Energy Transition Progress Report 2021 detailing the company’s progress over the past year; This report will be put to shareholders for an advisory vote at the Annual General Meeting on 24 May 2022. “In a time of great uncertainty, it is vital that our long-term energy transition strategy remains on track,”…

Energy Transition “Now or Never”, warns IPCC

The King of Rock and Roll Elvis Presley may have had romance on his mind when he released his hit single “It’s Now or Never” in 1960, but the Intergovernmental Panel on Climate Change (IPCC) is singing an entirely different tune. “It’s now or never, if we want to limit global warming to 1.5°C,” cautioned…

Advisory Committee Confirms Theme for ADS, ARTC 2022

The theme for this year’s Asian Downstream Summit (ADS) and Asian Refining Technology Conference (ARTC) will be “Reconfiguring the Industry for the Global Energy Transition”. This was announced by the conference and exhibition’s Advisory Committee, after they confirmed their decision on Tuesday, 3 March. Topics along the announced theme include explorations into ways that refiners…