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Pic: Shutterstock Petrochemical company Hanwha Total Petrochemical (HTC) has invested $1.3 billion to develop new polypropylene (PP) line at the Daesan complex in Korea to boost its production capacity by 60 per cent, bringing it to 1.1 million tons per year. A new propane furnace has also been set up to increase ethylene production capacity by 10 per cent.
The total ethylene production of the unit will now be 1.5 million tons per year, the company said in a press release.
The projects announced in 2017 and 2018 to expand the production capacity at the Daesan integrated refining and petrochemical complex, take advantage of abundant, cost-advantaged propane feedstock from the US.
Iraq considers purchasing ExxonMobil’s share in West Qurna 1 oilfield 04 May 2021 (Last Updated May 4th, 2021 12:44)
Iraq is reportedly planning to purchase ExxonMobil’s stake in the West Qurna 1 oil field via state-owned firm Basra Oil Co (BOC).
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ExxonMobil intends to sell 32.7% stake in the West Qurna-1 oil field. Credit: John R Perry / Pixabay.
Iraq is reportedly planning to purchase ExxonMobil’s stake in the West Qurna 1 oil field via state-owned firm Basra Oil Co (BOC).
Iraq Oil Minister Ihsan Abdul Jabbar was quoted by Reuters as saying that the ministry is considering BOC ‘taking ownership of the Exxon stake in West Qurna 1 and leading the project, as happened with Majnoon’.
Equinor makes oil and gas discovery at Tyrihans field offshore Norway 21 Apr 2021 (Last Updated April 21st, 2021 16:43)
Equinor and partners have made oil and gas discovery at the Tyrihans field in the Norwegian Sea.
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The well 6407/1-A-3 BH was drilled using the Transocean Norge drilling rig. Credit: wasi1370 / Pixabay.
Equinor and partners have made oil and gas discovery at the Tyrihans field in the Norwegian Sea.
The discovery was made during the drilling of the exploration well 6407/1-A-3 BH from subsea template A at the Tyrihans North field.
According to estimates, the discovery holds between 19 million and 26 million barrels of oil equivalent (boe) of recoverable resources.
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