Industrial Highlights | OMV Expands Processing Capabilities at Schwechat Refinery with New Plant
Apr,03 2025
OMV, Austria’s leading oil, gas, and petrochemicals company, has announced a significant expansion at its Schwechat refinery with the addition of a new processing plant. This development marks a strategic step in enhancing the refinery’s operational efficiency and product output, reinforcing OMV’s commitment to long-term energy security and industrial sustainability.
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Industrial Highlights | S-Oil Advances Shaheen Olefins Complex Construction in Ulsan
Apr,01 2025
South Korea’s S-Oil Corporation continues to advance its major petrochemical expansion project, the Shaheen Olefins Complex, in Ulsan. The project, which officially broke ground in March 2023 and is expected to be completed by 2026, represents a significant step in South Korea’s refining and petrochemical industry, aiming to enhance the country’s capacity to produce high-value petrochemical products. The development aligns with global trends toward integrated refining and petrochemical operations, maximizing efficiency and profitability.
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Industrial Highlights | U.S. Steel Market Confronts Supply Challenges Amidst Global Trade Dynamics
Mar,28 2025
The U.S. steel industry is currently navigating a complex landscape marked by supply constraints, fluctuating import levels, and evolving international trade relationships.
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Industrial Highlights | Neptun Deep Project Advances with Major Contract Awards and Integration of Specialized Materials
Mar,28 2025
March 21, 2025 – The Neptun Deep project, Romania's largest natural gas development in the Black Sea, is progressing significantly with key contracts awarded to industry leaders. OMV Petrom and Romgaz, the project's main investors, are committing up to €4 billion to develop the offshore gas fields Domino and Pelican Sud, aiming to transform Romania into the European Union's top natural gas producer.
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Industrial Highlights | Cairn Oil & Gas and 2H Offshore Join Forces for Major Offshore Development in India
Mar,26 2025
March 21, 2025 – Cairn Oil & Gas, a subsidiary of Vedanta Group and India’s leading private oil and gas producer, has announced a strategic partnership with 2H Offshore to advance the development of a major offshore oil field on India’s west coast. The project, one of the largest under India’s Discovered Small Fields (DSF) initiative, aims to unlock an estimated 20 million barrels of oil equivalent (MMBOE), strengthening India’s domestic energy security.
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Industrial Highlights | Baker Hughes and NextDecade Partner for Rio Grande LNG Expansion with Advanced Equipment and Materials
Mar,25 2025
March 21, 2025 – Baker Hughes and NextDecade Corporation have signed a framework agreement to support the expansion of the Rio Grande LNG facility in Texas. The agreement involves Baker Hughes supplying state-of-the-art gas turbines and refrigerant compressors to enhance the efficiency and capacity of the facility’s upcoming liquefaction trains. This marks a significant step toward strengthening the United States' position in the global LNG market.
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Industrial Highlights | EIA Predicts Alaska’s Oil Production to Rise in 2026, Reversing Decline Since 2017
Mar,24 2025
The U.S. Energy Information Administration (EIA) has projected that Alaska's crude oil production will increase in 2026, marking the first growth in nearly a decade. This forecast estimates an output of approximately 438,000 barrels per day (bpd), reflecting a 16,000 bpd rise from the previous year. The anticipated growth stems from the development of new oil projects in the region, aimed at revitalizing production that has been in decline since 2017.
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Industrial Highlights | Baker Hughes Secures Major Petrobras Contract for Offshore Completions Systems
Mar,21 2025
March 21, 2025 – Baker Hughes, a leading global energy technology company, has been awarded a substantial multi-year contract by Petrobras to supply advanced completions technology for deepwater oil fields offshore Brazil. This agreement aims to enhance production efficiency and well performance in some of the region’s most technically challenging environments.
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Industrial Highlights | Kazakhstan Eyes Nuclear Power to Address Growing Energy Deficit
Mar,06 2025
Kazakhstan, the world’s largest uranium producer, is considering nuclear power as a long-term solution to its increasing energy deficit. As electricity demand rises due to industrial growth and economic expansion, the country is exploring nuclear energy to ensure a stable and sustainable power supply.
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Industrial Highlights | Shell Projects 60% Growth in Global LNG Demand by 2040
Mar,06 2025
Shell, a leading global energy company, forecasts that global demand for liquefied natural gas (LNG) will surge by 60% by 2040, with Asia playing a dominant role in this expansion. As economies transition toward cleaner energy sources, LNG is expected to play a crucial part in meeting the growing demand for reliable and lower-carbon energy solutions.
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Industrial Highlights | HPCL Announces ₹1.3 Lakh Crore Investment to Expand Refining and Renewable Energy Portfolio
Mar,05 2025
Hindustan Petroleum Corporation Limited (HPCL), a leading Indian oil and gas company, has unveiled plans to invest ₹1.3 lakh crore in expanding its refining capacity and strengthening its presence in the renewable energy sector.
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Industrial Highlights | ADNOC Gas Secures $2.1 Billion Contract for Infrastructure Expansion
Mar,04 2025
ADNOC Gas, a key subsidiary of Abu Dhabi National Oil Company (ADNOC), has announced a significant $2.1 billion contract aimed at enhancing its natural gas infrastructure.
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Industrial Highlights | Vermilion Completes Acquisition of Westbrick
Mar,04 2025
Vermilion Energy Inc. has finalized its acquisition of Westbrick Energy Ltd. for a total consideration of $746 million USD ($1.075 billion CAD).
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Industrial Highlights | BP Shifts Strategic Focus Back to Oil and Gas
Mar,04 2025
BP has announced a strategic pivot, increasing its investment in oil and gas operations to approximately $10 billion annually, while reducing its commitment to renewable energy projects.
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Industrial Highlights | Eni and Petronas will establish a New Joint Venture
Mar,04 2025
Eni and Petronas have signed a memorandum of understanding to establish a joint venture overseeing selected upstream assets in Indonesia and Malaysia.
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Industrial Highlights | Iraq and BP Finalize Deal to Expand Oil Production in Kirkuk
Mar,04 2025
Iraq and BP have reached a significant agreement to develop multiple oil fields in Kirkuk province, aiming to boost production capacity and modernize the region’s energy infrastructure.
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Industrial Highlights | Middle East: A Key Player in the Global Oil & Gas Market
Mar,04 2025
The Middle East holds a pivotal position in the global oil and gas industry.
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Industrial Highlights | Possible New Refinery & Petrochemical Plant Construction between Guyana and Dominican Republic
Mar,04 2025
Guyana and the Dominican Republic are advancing collaborative efforts in offshore oil and gas exploration, alongside plans to construct a petrochemical plant and potentially a refinery in Guyana.
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