Oil Refining Center of Gravity Is Shifting



Oil Refining Center of Gravity Is Shifting
Here is a look back at some of Rigzone's most viewed downstream-related articles from the past week.

One of the most popular articles from the past week among Rigzone’s downstream readership focuses on the reality that the center of gravity is shifting in the global refining industry. Read on to learn more about this trend, along with other top downstream-focused articles in terms of page views.

China to Take US Oil Refining Crown

As Shell demonstrated with its recent decision to close a Louisiana refinery, refiners in the United States and Europe face pressure to reduce processing capacity. The story is different in China, which accounts for much of Asia’s growing fuels and plastics demand. As this Bloomberg article points out, Chinese refiners continue to add capacity and will likely overtake their U.S. peers soon. The news service points out the Asian refining growth trend – also underway in India and the Middle East – has been hastened by the region’s economies’ recovery from COVID-19.

$2B Pacific LNG Export Project Advances

A joint venture between Sempra LNG and IEnova has decided to develop, construct and operate the ECA LNG Phase 1 project. Located near an existing regasification facility near Ensenada, Baja California, Mexico, ECA LNG Phase 1 will be the first liquefaction-export facility on North America’s Pacific Coast, according to Sempra Energy. The co-venturer pointed out the project will leverage pipeline access to natural gas supplies from the Permian Basin and Western U.S. to serve markets in Mexico and various other Pacific Basin countries. TechnipFMC has also received a notice to proceed for its lump-sum, turnkey engineering, procurement and construction contract for ECA LNG Phase 1.

Aramco Says No One Hurt in Blast

An attack on a Saudi Aramco fuel depot in the Red Sea city of Jeddah also garnered considerable page views from Rigzone’s downstream readers this past week. According to Bloomberg, Houthi rebels in Yemen claimed responsibility for the missile strike. The news agency stated that an unnamed Aramco official said the attack, which resembled a 2019 incident and suggested a high level of sophistication by the Houthis, tore an approximately two-meter hole in a diesel storage tank. The official also reportedly said the attack caused no injuries and failed to disrupt supplies from the facility.

To contact the author, email mveazey@rigzone.com.



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.