INEOS Phenol to expand production capacity in Alabama
INEOS Phenol is planning to expand the capacity of its plant in Mobile, Alabama, to 850,000 metric tons per year, making it the largest phenol production unit in the world.
INEOS Phenol CEO Hans Casier said, “An investment to increase the capacity of our Mobile production facilities up to 850 kilotons will make our plant the largest unit in the world. This expansion will meet anticipated growth in demand and shows a clear commitment to our customers to meet their long-term needs in North America.
“The Mobile asset is already the largest and most efficient single-train plant in the USA, and the expansion will build on this key strength. It also takes full advantage of our Gulf Coast location and our proprietary, best-in-class operating technology.”
The INEOS Phenol business is the largest producer of phenol and acetone in the world, and the only phenol and acetone manufacturer with production facilities spanning Europe and America. Its products are used in a diverse range of end-markets including the automotive, construction, electronics and fiber industries.
For more information, visit www. ineos.com or call (251) 443-3073.
Petrochemicals set to be largest driver of world oil demand
Petrochemicals are becoming the largest drivers of global oil demand, according to a major study by the International Energy Agency (IEA).
Petrochemicals are set to account for more than a third of the growth in world oil demand to 2030 and nearly half the growth to 2050, adding nearly 7 million barrels of oil a day by then. They are also poised to consume an additional 56 billion cubic meters (bcm) of natural gas by 2030 and 83 bcm by 2050. “The Future of Petrochemicals” is part of a new IEA series shining a light on “blind spots” of the global energy system — issues critical to the evolution of the energy sector but that receive less attention than they deserve. The report is among the most comprehensive reviews of the global petrochemicals sector.
For more information, visit www. iea.org or call +33 1 40 57 6500.
Sinopec plans to build Canadian refinery
Sinopec Corp. has joined a group planning to build a bitumen upgrading and petrochemical refining facility in Alberta, Canada.
Using approximately 167,000 barrels of diluted bitumen per day, the facility would produce a broad range of products for domestic and exporting consumption.
Gasoline, jet fuel, diesel fuel and basic chemicals would be shipped across Canada and to markets in the U.S. Northwest via existing clean product pipelines and rail, as well as to deepwater for export.
The SinoCan Global refinery would cost $8.5 billion (Canadian). The group hopes to receive regulatory approval from the Alberta and Canadian governments within two years.
For more information, visit www.sinopecgroup.com.
Crude oil entering Gulf refineries lightens as imports decline
The density of crude oil processed by U.S. Gulf Coast refineries has become lighter since 2008 as refineries moved away from heavier imported crude oil to lighter crude oil produced in Texas. The Gulf Coast is home to most of the nation’s petroleum refineries, and these refineries tend to run a diverse mix of crude oils that, similar to the national average, has become lighter since 2008.
Before 2008, crude oil inputs to refineries in the Gulf Coast were getting heavier, from an API gravity of 34.1 degrees in 1985 to their heaviest at 29.5 degrees in 2008. At the same time, imported crude oil processed on the Gulf Coast was increasing from 1.4 million bpd in 1985 to its highest level of 5.8 million bpd in 2004. That trend reversed in 2008-2017, when the API gravity of crude oil inputs to refineries in the Gulf Coast increased to 32 degrees and imported crude oil decreased to 3.1 million bpd.
For more information, visit www.eia.gov or call (202) 586-8800.