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

Pengerang Energy Complex well on track, says CEO

The Pengerang Energy Complex (PEC) is well on its way toward financial closing, according to developer ChemOne Group. Slated for EPCC commencement in Q1 2023, the US$4.4 billion (approximately SG$6.12 billion) PEC facility aims to be one of the world’s largest and most competitive integrated condensate splitter and aromatics facilities, and will be located within…

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…

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…