OGJ Processing Report - Mar 15th, 2023
 
 
OGJ Processing Report | View online
 
March 15, 2023
Shell and CNOOC let a contract to Shell Catalyst & Technologies to deliver process technology for a third major expansion of ethylene production capacity at the JV CSPC's petrochemical complex in Huizhou City, Guangdong Province, China.
Russian oil exports rose by nearly 300,000 b/d in January 2023 to 8.2 million b/d, close to the record high reached in February 2020, as crude loads rebounded from December's lows, according to the International Energy Agency.
Pembina Pipeline Corp. is expanding NGL fractionating capacity to its existing Redwater fractionation and storage complex in Redwater, Alta.
Targa Resources is expanding its cryogenic natural gas processing and fractionation capacities as part of the operator's strategy to further extend its Permian basin gathering and processing position.
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EnLink Midstream LLC is proceeding with relocation of an underutilized natural gas processing plant from the Barnett shale of North Texas to the company’s operations in the Permian’s Delaware basin.
In 2022, Chinese refineries processed less crude oil than in 2021, the first year-on-year decline since 2000. The reduction was the result of mobility restrictions related to the COVID-19 pandemic and low petroleum product export quotas, EIA said.
The US Energy Information Administration increased its global liquid fuels consumption forecast to 100.9 million b/d in 2023 from an average of 99.4 million b/d in 2022.
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US crude oil inventories for the week ended Mar. 3, excluding the Strategic Petroleum Reserve, decreased by 1.7 million bbl from the previous week, according to data from the US Energy Information Administration.
High prices and the demand for energy security will drive US to be the leading exporter of LNG in 2023 and potentially pave the way for $100 billion in new developments to support long-term growth, according to Wood Mackenzie. In 2022, the US was the third-largest exporter of LNG at 76.4 million tonnes/year (tpy). With the resumption of the Freepor...