The Catalyst Review August 2019 - 3

COMMERCIAL NEWS
Indonesia, UAE Firms Sign
Agreements Worth $9.7 B...

Reliance and BP to Create Major World-Class Fuels Partnership
for India's Fast-Growing Market...

Companies in Indonesia and the United
Arab Emirates have signed agreements
worth a total of $9.7 billion. Abu Dhabi
National Oil Company (ADNOC) signed an
agreement with Indonesia's state-owned
energy company PT Pertamina for oil
and gas collaboration in both countries
and globally, which has a potential value
of $2.5 billion. ADNOC said the deal
covered projects in the UAE upstream
oil and gas sector as well as refining and
petrochemicals, LNG, LPG, aviation fuel
and fuel retail opportunities in Indonesia.
Indonesia's Chandra Asri Petrochemical
also signed an agreement with Abu
Dhabi's state fund Mubadala and Austrian
energy firm OMV to explore opportunities
in petrochemicals, the three companies
said in a joint statement. The foreign
ministry said the three were exploring the
development of a naphtha cracker and
petrochemical complex, with a potential
value of $6 billion. Source: Hydrocarbon
Processing, 7/25/2019.

BP and Reliance Industries Limited (RIL) announced that they have agreed to form a
new joint venture that will include a retail service station network and aviation fuels
business across India. Building on Reliance's existing Indian fuel retailing network
and an aviation fuel business, the partners expect the venture to expand rapidly to
help meet the country's fast-growing demand for energy and mobility. The partners
have agreed to set up a new joint venture company, held 51% by RIL and 49% by BP,
that will assume ownership of RIL's existing Indian fuel retail network and access its
aviation fuel business. Source: BP, 8/6/2019.
Prince George Due Grassroots Petrochemical Complex...
West Coast Olefins Ltd. (WCOL) of Calgary has taken the first steps toward
development of a $5.6-billion (Can.) grassroots petrochemical complex to be built in
Prince George, BC. WCOL has now secured a 300-acre site in the BCR Industrial Area of
Prince George in preparation for construction of the proposed petrochemical project,
which would include both an ethylene and polyethylene (PE) plant for manufacturing
of PE product for export to growing markets in Asia Pacific. To be built within the
territory of the Lheidli T'enneh First Nation, the overall project would include: An
NGL recovery plant to recover ethane, propane, butane, and natural gas condensate
from Enbridge Inc.'s Westcoast Pipeline; an ethylene plant to produce up to 1 million
tonnes/year of polymer-grade ethylene; a PE plant to consume most of the ethylene
produced; and associated off-site facilities and infrastructure. Company officials said
there also is a possibility plans could include construction of a monoethylene glycol
(MEG) plant on site to utilize the balance of produced ethylene. Source: Oil & Gas
Journal, 7/25/2019.

The Catalyst Review 										

	

August 2019

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The Catalyst Review August 2019

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