Pursuant to the agreement, Qatar Petroleum will own a 49 per cent share in the USGC
II project, while Chevron Phillips Chemical will own the remaining 51 per cent share and provide project management and oversight and be responsible for the operation and management of the facility.
Over the past few years, MEOH's FCF has been supressed due to heavy capex spending associated with relocating the Geismar 1 & 2 plants from Chile to the USGC
, as well as oil-linked declines in methanol pricing.
We made excellent progress on our new 750,000 mtpa EG plant in the US Gulf Coast (USGC
) with advantaged feedstock.
The project, which is scheduled for startup during the second half of 2017, is one of as many as six involving world-scale steam crackers in the USGC
scheduled to come online within the next 12-24 months, as part of the first wave of projects fuelled by abundant natural gas-related feedstocks in North America.
However, since USGC
refiners are not willing to sell at lower FOB prices, many Indian buyers are looking for better offers, and are ready to wait rather than buy at current high prices," says Sushmita Rai, Sr.
Latin heavy sour components gained the most over the month, supported by a significant increase in USGC
spot oil markets, particularly medium sour grades.
A report released in February by IHS Energy, which consults for energy companies, concluded that "Canadian crude making its way to the USGC
[Gulf Coast] will likely be refined there, and most of the refined products are likely to be consumed in the United States." It added that "for Gulf refineries, heavy bitumen blends from the oil sands are an attractive substitute for declining offshore heavy crude supply from Latin America." It concluded that 70 percent of the refined product would be consumed in the United States.
The spread reached as high as $28 per barrel in early 2013, when physical constraints limited crude from the US midcontinent and Canada from reaching refining centres on the US Gulf Coast (USGC
), according to Opec.
PoolA, Nishter Club, USGC
Club, Pak Shaheen Club, Muslim Club, T&T Club, Alhamra Club while PoolB, AlMuslim, Zamindar Club, Youngman Club, Muhammadan Club, Pindi United Club, Young Star Club.
initially announced the quake was magnitude-4.3 and quickly upgraded it.
These new phase-two discharge standards are a compromise between the current phase-one standard adopted in the USGC
's final rule and the old phase-two standard outlined in the NPRM.