April 14, 2025 Latest Energy / Automotive News and Analysis
London, April 14, 2025 (Oilandgaspress) –-As China and United States take turns to up the ante from President Trump’s tariff offensive, the outlook for oil and energy in general has gone from bright to really dim.Bloomberg noted that oil prices have been trending down since Trump took office. U.S. oil exports to China have shrunk considerably since the start of 2025, amounting to just 1% of total oil imports Read Related News
Alpine and the Société des réalisatrices et réalisateurs de films (SRF) are delighted to join forces to award this prize to Thomas Cailley, director of the feature films Les Combattants (2014) and Le Règne Animal (2023), for his audacious work and ability to stray from the beaten track.
This new award is part of Alpine and SRF’s approach to supporting and promoting filmmaking. Alpine enriches its dialogue with the artistic and cultural communities with this award. After several film collaborations (Largo Winch, Faster) and several Art Car* creations, Alpine aims to contribute to the dynamism of the French and international art scene. Through its association with the SRF, Alpine affirms its commitment to innovation and authenticity. Read Related News
The board of directors of Equinor ASA has today decided to propose to the general meeting of the company that the company’s share capital is reduced through cancellation of own shares and redemption of shares belonging to the Norwegian State.
The proposal is made as a result of the company having acquired own shares pursuant to the authorization for share buy-back granted by the annual general meeting of the company in May 2024.
The proposal entails that the company’s share capital shall be reduced by NOK 589,934,295 from NOK 6,981,953,075.00 to NOK 6,392,018,780.00, through cancellation and redemption of a total of 235,973,718 shares. Notice of the general meeting of the company which will attend to the board’s proposal will be announced separately at a later stage. . Read Related News
Octopus Energy have admitted that customers in the Southeast of England would pay more under Zonal Pricing.
In a panel debate organised by the trade publication, Utility Week, Rachel Fletcher, Director for Regulation and Economics at Octopus, acknowledged that “customers in the Southeast, might pay a bit more”.
Speaking on the discussion around within-day pricing, she said the “focus should be on location pricing that matters and drives the majority of benefits of zonal pricing and not the fact that customers in the southeast, on average across a year, might pay a bit more.”
The comments are in direct conflict with a report published earlier this year by Octopus Energy, and continues to be promoted by the company, which suggested zonal energy pricing would reduce household energy bills.
Recent research by Fairer Energy Future found that the British public overwhelmingly reject zonal energy pricing proposals, claiming the plans are unfair and could be impractical, a new survey has found.
The research, of more than 2,000 consumers between 7th and 10th February, found that 85% of respondents thought the proposals to split the energy market in Great Britain into localised zones where prices would depend on supply, demand and availability were not ‘very fair’.
The study from independent research house Yonder also found that a vast majority of people (70%) said they did not consider ‘lower energy bills’ to be a top five factor for when considering where to live.
This finding runs counter to pro-zonal claims that businesses and consumers would seek to move to the cheapest energy areas if zonal pricing were implemented.
Within the debate, Rachel Fletcher also acknowledged that the move to zonal pricing would not be simple or straightforward and would impact investment decisions . Read Related Article
Octopus Energy’s generation arm is making another big splash in offshore wind, chartering ahead with a 10% stake in the East Anglia One wind farm – one of the world’s largest operational wind farms.
The 714 MW wind farm is located 43 kilometers off the coast of Suffolk in the East of England and has been powering Britain with green energy since 2021.
With 102 turbines, it is among the top 10 biggest wind farms in the world, generating enough clean power to electrify around 700,000 homes a year.
This marks Octopus’ fourth investment in a British offshore wind farm and its seventh in Europe. It builds on its stakes in Hornsea One, Lincs and Walney Extension in Britain, Butendiek in Germany, and Borssele V and Borssele III & IV in the Netherlands.
Octopus is also making a play in France, announcing plans to enter the country’s offshore wind tender and develop a brand-new offshore wind farm in partnership with Skyborn Renewables.
Octopus Energy Generation – one of Europe’s largest renewables-only investors – has already surpassed $2 billion in offshore wind deals in two years.
Octopus acquired this latest wind farm stake from Macquarie Asset Management on behalf of Vector, Octopus’ innovative offshore wind fund, which invests in fixed and floating offshore wind and pioneering tech to reduce costs.
In addition to expanding its offshore wind portfolio, Octopus is also driving the creation of new wind farms globally through investments in developers and innovations like its ‘Fan Club’, which offers customers cheaper electricity when it’s windy. . Read Related News
Öresundskraft Kraft & Värme AB and INEOS on behalf of Project Greensand have signed an agreement to investigate the opportunity to store up to 210,000 tonnes of CO₂ annually from Sweden in Denmark. The captured carbon dioxide is planned for safe and permanent storage in Greensand storage facility located in the Danish part of the North Sea, with the first volumes expected to be stored from 2028.
This cross-border collaboration represents a significant step toward realizing the potential of carbon capture and storage (CCS) in the Greater Copenhagen Area and beyond. It also underlines the vital importance of international cooperation in achieving climate goals and mitigating global climate change.
Stefan Håkansson, CEO of Öresundskraft, says: “This agreement with INEOS marks an important milestone for us. We are at the forefront among our European industry peers when developing a sustainable and fully integrated CCS solution for energy recovery from waste. Our project has been awarded €54 million from the EU Innovation Fund and is one of Sweden’s first CCS initiatives. Our goal is to offer climate-neutral district heating and achieve negative emissions. Connecting Swedish carbon capture with Danish storage infrastructure highlights the importance of international cooperation in reaching climate goals. We are proud to be working with INEOS on this.”
INEOS, through the Project Greensand consortium with partners Harbour Energy and Nordsøfonden, is leading the development of one of Europe’s most advanced CO₂ storage sites. The latest development will play a key role in receiving CO₂ from various European countries, including Sweden, for safe injection into offshore geological formations in Greensand. Read Related News
INEOS Britannia announces that it has withdrawn its intention to challenge for the next America’s Cup. The decision has been taken after a protracted negotiation with Athena Racing Ltd following the conclusion of 37th America’s Cup, last year in Barcelona. The agreement that had been reached with Athena Racing would have allowed both parties to compete in the next Cup but it depended on a rapid resolution. INEOS Britannia had agreed the substantive terms very quickly, but Athena has failed to bring the agreement to a timely conclusion. INEOS Britannia is of the opinion that this six-month delay has undermined its ability to prepare for the next Cup and so has reluctantly withdrawn its intention to challenge.. Read Related News
The Board of Wood has received a holistic non-binding conditional proposal from Sidara, comprising:
a possible offer of 35 pence per Wood share in cash to acquire the entire issued and to be issued share capital of the Company (the “Possible Offer”);
a possible capital injection of $450 million from Sidara to Wood; and
Wood seeking an extension of, and certain other amendments to, its existing committed debt facilities.
Sidara has confirmed that it has made significant progress with its due diligence on Wood, including in relation to its review of the points raised in the independent review commissioned by Wood.
Work continues on a range of alternative refinancing options to provide the Company with an appropriate and sustainable long-term capital structure. Having carefully considered the viability of these options together with its financial advisers, the Board of Wood currently believes that the Possible Offer represents the better option for Wood’s shareholders, creditors and other stakeholders.
Accordingly, the Board of Wood has indicated to Sidara that, should a firm offer for Wood under Rule 2.7 of the Code for Wood on the terms of the Possible Offer, it would be minded to recommend such an offer to Wood’s shareholders, subject to agreement of the full terms and conditions. Read Related News
The Bangalore Metro Rail Corporation Limited (BMRCL), Bengaluru Metropolitan Transport Corporation (BMTC), and the Electronics City Industries Association (ELCIA), in collaboration with Toyota Mobility Foundation (TMF) and WRI India today launched the “STAMP: Nudging Commuter Behaviour” — a pioneering initiative that leverages behavioural science and technology to encourage commuters to shift from personal vehicles to public transport.
PROJECT BACKGROUND
With the Namma Metro Yellow Line set to launch later in 2025, Electronic City — one of Bengaluru’s largest employment hubs — will be better connected to the city. This expansion will bring over one lakh jobs closer to the metro network, offering a faster and more sustainable alternative to private transport. Recently introduced BMTC feeder buses, launched in collaboration with ELCIA and the Electronics City Industrial Township Authority (ELCITA), are providing first- and last-mile connectivity in the area.
The Station Access and Mobility Program (STAMP), led by TMF and WRI India, has been working to bridge the connectivity gap to taking public transport in Indian cities, by combining research with innovative pilots, from electric autorickshaws to a carpooling app. Launched in Bengaluru in 2017, STAMP has since expanded to six cities: Hyderabad, Kochi, Mumbai, Pune, Nagpur, and Delhi, enabling over 50,000 last-mile metro trips and saving 240,000 passenger minutes. Using a four-step model, it identifies gaps and customizes solutions based on each city’s metro system. Read Related News
CNOOC Limited today announces that Wenchang 9-7 Oilfield Development Project has commenced production.
The project is located in the western Pearl River Mouth Basin, with an average water depth of approximately 120 meters. The main production facility is a new drilling and production platform, which leverages the adjacent existing facilities for development. 25 development wells are planned to be commissioned, including 18 production wells and 7 gas injection wells. The project is expected to achieve a plateau production of approximately 12,000 barrels of oil equivalent per day in 2027. The oil property is light crude. Adhering to the concept of efficient utilization of resources and sustainable development, CNOOC Limited has steadily promoted green development of offshore oil and gas resources. Wenchang 9-7 Oilfield Development Project is the first offshore low permeability oilfield that utilizes miscible gas flooding. The technology solves the problem of low permeability reservoirs development and significantly enhances oil recovery. Meanwhile, the Company pursues efficient recovery and utilization of associated gas and builds a comprehensive gas network in Wenchang Oilfields. The pipelines are interconnected, while flare gas and waste heat is recovered. Leveraging the gas network, Wenchang 9-7 Oilfield has realized “zero flaring”. In addition, Wenchang 9-7 Oilfield is equipped with the world’s first 5MW offshore high-temperature flue gas ORC power generation unit, which is expected to generate up to 40 million kilowatt-hours of electricity and thus reduce carbon dioxide emissions by approximately 33,000 tons per year.
CNOOC holds 100% interest of the project, and is the operator. Read Related News
CNOOC Limited released its 2024 Environmental, Social and Governance (ESG) Report in Hong Kong today.
Adhere to efficient governance and solidify the foundation for sustainable development
Adhere to green development and actively cultivate new quality productive forces
Adhere to ecological protection and safeguard the clear waters and lush mountains
Adhere to contributing to society and fulfill corporate responsibilities
CNOOC Limited positions the ESG report as an important carrier for deepening compliance information disclosures and strengthening stakeholder communication. It provides a comprehensive overview of the Company’s progress and achievements in the ESG domains. In 2024, CNOOC received multiple prestigious awards both domestically and internationally and was ranked in the Fortune China ESG Impact List – representing the capital market’s recognition of the Company’s ESG management performance.
CNOOC Limited adheres to high-quality development and continues to enhance corporate governance capabilities. ESG concepts are deeply embedded into the development strategy of the Company. The Company strictly complys with the code of business ethics, insists on lawful and compliant operations and strengthens risk and internal control management . Anti-corruption and integrity training programs cover all employees. CNOOC Limited has also enhanced its corporate governance system, actively implementing policy on Board diversity and optimizing the structure of the Board. The Company reinforces lean management and systematically implements the tasks through a“six in one” ESG working mechanism consisting of top-level design, performance assessment, process supervision, capability enhancement, disclosure optimization and culture shaping.
CNOOC Limited adheres to green development and actively cultivates new quality productive forces. The Company aims to optimize our production mix and improve the proportion of natural gas in our domestic gross production.In the exploration stage, the Company aims to find both crude oil and natural gas but will put more efforts on natural gas exploration. The South China Sea trillion-cubic-meter gas region has been realized ahead of schedule. At the same time, we have made remarkable progress in green and low-carbon production of oil and gas resources. Wushi 23-5, the first green design offshore oilfields in China, was brought on-stream.
The three phases of Bohai onshore power project were put into full operation.In 2024, the Company implemented 18 energy-saving retrofit projects, achieving a total annual CO₂emissions reduction of 589,500 metric tons. In addition, the new energy and carbon-negative businesses have progressed in an orderly manner. The “Haiyou Guanlan” integrated floating offshore wind power demonstration project operated smoothly. Two offshore CCUS bases in Bohai and Hainan have been under construction. The utilization of digital intelligence has yielded tangible results. A series of intelligent oil and gas fields such as “Shenhai-1” have been completed. The unmanned rate of offshore platforms has increased steadily. The Company has been included in the list of China’s Leading Enterprise in Industrial Data Governance.
CNOOC Limited adheres to ecological protection and safeguards the clear waters and lush mountains.We strictly comply with the environmental laws and regulations in China and other host countries. The Company upholds the concept of “paying equal attention to environmental protection and resource development”, and endeavors to enhance environmental governance capabilities, optimize energy resource management, and implement environmental protection measures throughout the entire process of exploration, development and production. The Company adheres to the principle of “prioritizing ecological protection” and regularly organizes public welfare activities on environmental protection, to enhance public environmental awareness, effectively protect biodiversity and promote harmonious development between our operations and the natural environment. In 2024, the Company carried out about 30 ecological compensation and restoration projects. Read Related News
CNOOC Limited announces that its wholly owned subsidiary, CNOOC International Limited, has completed closing of the Stock Purchase Agreement with INEOS Energy. Read Related News
Hyundai will livestream the reveal of the all-new 2026 Palisade SUV during its North American debut at the 2025 New York International Auto Show. This new-generation three-row SUV flagship builds on the momentum of the outgoing model, which enjoyed its best-ever sales year in 2024 – up 23 percent year-over-year. The new Palisade is bigger, better and goes further than its critically acclaimed predecessor — and its SUV competition.
The reveal will take place at the New York International Auto Show at 10:30 a.m. ET on April 16, during media days at the Jacob Javits Convention Center. The press conference will be livestreamed around the world. The livestream can be viewed at 10:30 a.m. ET.
Tune in to see the reveal of Hyundai’s bold new flagship SUV. Read More
From 11 to 28 March, the European press had the opportunity to discover Bigster on the roads of Provence. The projects were presented to the journalists, who were able to vote for their favourite.
The student designers were able to visit the event and talk to David Durand, Design Director of the Dacia brand.
David Durand points out that ‘this competition has enabled the entire Dacia team to exchange ideas with the designers of tomorrow. YouClip is an ideal testing ground and creative medium for exploring the uses and ergonomics of accessories that could be incorporated into a Dacia. These future designers are talented, creative and inspiring, and we had a lot of fun sharing with them during the competition. Congratulations to Hector Vanquaethem, who won over international journalists with his Legătură project’. Read More
Daimler Coaches North America has broken ground on a state-of-the-art delivery and service center in Jacksonville, Florida, further strengthening its footprint and commitment in the North American market. This expansion enhances customer support by centralizing operations and providing a premium experience for both new Mercedes-Benz Tourrider motorcoaches and pre-owned coaches. “Building this new facility underlines our continued commitment to the North American market and focus on our customers. It will provide them with a modern environment for the delivery of their Mercedes-‑‑Benz Tourrider coaches. We are also showcasing our pre-owned vehicles,”.” Says Dr. Thomas Rohde, President and CEO of Daimler Coaches North America.
Daimler Coaches North America is proud to partner with ARCO Design/Build as the builder and Brookwood Capital Partners as the investment firm for this significant expansion. ARCO, known for its expertise in large-scale industrial and commercial construction, will lead the development of the state-of-the-art facility, ensuring it meets the highest standards for efficiency and innovation. Brookwood Capital Partners, a leading real estate investment and development firm, brings valuable industry experience to the project, reinforcing the long-term commitment to Daimler Coaches’ growth in the U.S.
Daimler Coaches North America’s new 43,700-square-foot facility in Jacksonville will include a 16,000-square-foot shop and maintenance center, a two-story administration building, and a dedicated training and delivery center for customers and service partners. Read More
Daimler Buses is planning further growth in the field of e-mobility – also beyond vehicles and infrastructure. To this end, the company is introducing new services to extend the useful life of electrically powered buses: For example, Daimler Buses is now offering its customers the remanufacturing of electric bus batteries. In addition, the manufacturer is expanding its range in 2026 to include a latest-generation battery replacement with a longer range. Daimler Buses thus wants to enable the longest possible useful life for its electrified vehicles – as with diesel buses. The two offers are part of an e-service offensive that looks at the entire life cycle and profitability of e-buses and batteries.
Daimler Buses is initially offering the new services for the electrically powered Mercedes-Benz eCitaro city bus. The vehicle has been in series production since 2018 and is now equipped with third-generation batteries (NMC3). In 2026, the significantly refined next battery generation (NMC4) is to follow. These services are also a possible prospect for the Mercedes-Benz eIntouro inter-city bus in the future. Daimler Buses presented a near-series prototype of the eIntouro at the end of 2024. The bus will be equipped with the same battery technology, known as LFP (lithium iron phosphate) batteries, as the Mercedes-Benz eActros 600 long-haul truck and will be available on the market from 2026.
Till Oberwörder, CEO of Daimler Buses: “The future of buses is clearly electric. In addition to the high demand for our electrified buses and our range of services for developing turnkey e-infrastructure, we see great potential in the field of e services – and we want to exploit this potential. Our customers should be able to use electric buses as economically and for as long as conventionally powered vehicles. This makes us pioneers in the industry.” Read More
The U.S. Energy Information Administration (EIA) expects recent developments in global trade policy and oil production to contribute to lower global demand growth for petroleum products through 2026, which contributes to significantly lower oil prices than previously forecast.
In its April Short-Term Energy Outlook (STEO), EIA points out significant uncertainties in energy supply, demand, and prices.
The STEO is based on current market conditions, and in the first week of April, numerous developments affected the global market—especially oil markets. On April 2, President Donald J. Trump signed an Executive Order announcing a minimum 10% tariff on imports from all countries, which also included higher tariffs on some countries. On April 4, China responded by imposing 34% tariffs on imports from the United States. Amid the tariff announcements, OPEC+ members announced on April 3 that some countries will start oil production increases in May that were originally set for July.
These announcements caused the Brent crude oil spot price to fall by 12% on April 2 to $68 per barrel on April 4. EIA completed its forecasts on April 7, so the April STEO includes some of the recent changes in the energy market, but the agency expects continued volatility as market participants respond to further developments. Some key highlights from the April STEO include:
Global oil supply, demand, and prices: EIA expects continued growth in U.S. and global oil production as OPEC+ accelerates its previously announced production increases and the United States exempts energy from its recently announced tariffs. EIA expects global oil inventories to increase starting in the middle of 2025, but market uncertainty could lead to lower economic growth, which could lead to less growth in demand for petroleum products than EIA had previously forecast. The combination of growing supply and lower demand leads EIA to expect the Brent crude oil price to average less than $70 per barrel in 2025 and fall to an average of just over $60 per barrel in 2026.
Those prices are about 10% lower than the March STEO forecast and reflect more uncertainty around global oil demand growth as well the potential for additional supply from OPEC+ in the coming months. Other uncertainties in EIA’s oil price forecasts include existing sanctions on Russia, Iran, and Venezuela, which also could affect oil prices. Read More
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $62.43 | Up |
| Crude Oil (Brent) | USD/bbl | $65.65 | Up |
| Bonny Light 10/04/25 CBN | USD/bbl | $67.55 | — |
| Dubai | USD/bbl | $66.47 | Down |
| Natural Gas | USD/MMBtu | $3.50 | Up |
| Murban Crude | USD/bbl | $66.95 | Up |
| OPEC basket 11/04/25 | USD/bbl | $66.35 | Down |
Widespread acclaim for Lancia’s return to rally
History, innovation, and passion came together for a high-octane weekend in Alba with the new Ypsilon Rally4 HF instantly reaching the podium.
Easter Egg Hunt the Opel Way: Find the Sharks in the New Grandland
Dive into the depths of the Grandland: Several sharks hide in the new top SUV
Iconic idea: Shark tradition at Opel began around 20 years ago with a boy’s brainwave
Attention to detail: Designers fill Opel’s pure and bold design philosophy with life
To be continued: Small sharks also in the new Opel Frontera and further models
AN ACTION-PACKED MIAMI E-PRIX FOR DS AUTOMOBILES, WHICH HOLDS ONTO FOURTH PLACE IN THE STANDINGS
The Miami E-Prix, round five of Formula E Season 11, was not kind to DS Automobiles and PENSKE AUTOSPORT
After a tricky qualifying session, Jean-Éric Vergne and Maximilian Günther were unable to showcase their talents during the race
DS Automobiles nonetheless maintains its places in the top four of the Teams’ standings, before Monaco’s double-header from May 3-4
Baker Hughes Rig Count: U.S. -7 to 583 Canada -15 to 138
U.S. Rig Count is down 7 from last week to 583 with oil rigs down 9 to 480, gas rigs up 1 to 97 and miscellaneous rigs up 1 to 6.
Canada Rig Count is down 15 from last week to 138, with oil rigs down 8 to 91, gas rigs down 7 to 47 and miscellaneous rigs unchanged at 0.
International Rig Count is down 6 from last month to 899 with land rigs down 2 to 709, offshore rigs down 4 to 190.
| Region | Period | Rig Count | Change |
| U.S.A | 11 April 2025 | 583 | -7 |
| Canada | 11 April 2025 | 138 | – 15 |
| International | March 2025 | 899 | -6 |
Eni’s CEO, Claudio Descalzi, and the President and CEO of YPF, the State Energy Company of the Republic of Argentina, Horacio Daniel Marín, today signed a Memorandum of Understanding (MoU) to evaluate Eni’s participation in the Argentina LNG project, promoted by YPF.
Argentina LNG is a large-scale upstream and midstream integrated gas development project, designed to develop the resources of the “Vaca Muerta” onshore gas field and serve international markets through exporting in various phases up to 30 million tons per year (MTPA) of LNG by the end of the decade.
The project phase covered by the MoU between Eni and YPF relates to the development of upstream, transportation and gas liquefaction facilities through two Floating LNG units of 6 MTPA each, for a total of 12 MTPA.
Eni’s CEO stated: “YPF’s choice of Eni as a strategic partner stems from the specific and distinctive know-how we have developed in FLNG projects in Congo and Mozambique, and from the recognition of our global leadership in implementing projects with this technology.” Today’s MoU is in line with Eni’s strategy of promoting the energy transition, favouring the development of gas production and reducing the emission impact, with the goal of achieving carbon neutrality by 2050, as well as contributing to the security and competitiveness needs of energy supplies. Read More
New role for Eva Lys: Germany’s best women’s tennis player will in future represent Porsche as a ‟Friend of the Brand”. It means the 23-year-old and the sports car manufacturer have intensified their partnership. She will be playing this week at the Porsche Tennis Grand Prix. Eva Lys was prepared for the challenges of a professional career for many years as a member of both the Porsche Junior Team and the Porsche Talent Team. Now she and the sports car manufacturer are taking the next step, and Eva Lys is now really looking forward to her new role as a ‟Friend of the Brand”. Read More
This upcoming weekend, the development programme for the new customer racing model, based on the current GT3 race car, will take its next step under competitive conditions. The pivotal test outing will be held in collaboration with Herberth Motorsport on April 19–20 at Belgium’s Spa-Francorchamps circuit.The Creventic 24h Series will stage a split-format endurance race under the banner “Michelin 12H Spa-Francorchamps” on Saturday and Sunday. Following practice sessions, testing and qualifying, the event begins on April 19 with five hours of racing, before resuming the next day with the remaining seven hours. Behind the wheel of the No. 91 test car – the updated Porsche 911 GT3 R – will be former Porsche Junior and reigning IMSA GTD Pro Champion Laurin Heinrich from Germany, alongside fellow countrymen Ralf Bohn and Alfred Renauer. Both drivers, along with the Herberth Motorsport outfit, are renowned for their wealth of experience in endurance racing.
The evolution of the Porsche 911 GT3 R builds upon the highly successful current model and is set for public reveal in the summer. For the 2026 racing season, Porsche engineers have placed a strong emphasis on enhancing driveability. Modifications to aerodynamic components aim to reduce pitch sensitivity – improving front-end behavior under braking and acceleration. Important software updates have also been implemented, and the steering system has been refined by the engineering team in Weissach. Further technical details about the evolved Porsche 911 GT3 R will be disclosed at a later date. Read More
Aramco, China Petroleum & Chemical Corporation (Sinopec), and Yanbu Aramco Sinopec Refining Company (Yasref) announced the signing of a Venture Framework Agreement (VFA) intended to pave the way for a major petrochemical expansion at Yasref, in Yanbu, on the west coast of Saudi Arabia.
Coinciding with Yasref’s 10th anniversary, the agreement seeks to advance engineering studies for the development of a fully-integrated petrochemical complex at Yasref, a joint venture owned by Aramco (62.5%) and Sinopec (37.5%). The project aims to maximize operational synergies and create additional value through introducing a state-of-the-art petrochemical unit, a large-scale mixed feed steam cracker with a 1.8 million tons per year capacity, and a 1.5 million tons per year aromatics complex with associated downstream derivatives integrated into the existing Yasref complex. This is expected to enhance Yasref’s ability to meet growing demand for high-quality petrochemical products. Read Related News
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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