TechnipFMC wins ‘significant’ contract to cut emissions at Shell Moerdijk plant

The value of the deal has not been disclosed but the energy services giant said it ranged between $75m – $250million. TechnipFMC was awarded the engineering, procurement and module fabrication (EPF) work for equipment and related services for eight new ethylene furnaces at the Shell Moerdijk site. The firm will replace replace older units to […]

Shell plans up to 9,000 job cuts worldwide

The energy giant, which has been grappling with the effects of the oil price downturn and Covid-19, follows rival BP who earlier this year announced plans for 10,000 job cuts. Shell, which employs 6,000 people in the UK, including 1,000 directly in its Upstream oil and gas business in the country, said the “reduced organisational […]

Trafigura and IFM launch renewables joint venture

Commodities trading group Trafigura and investment management firm IFM Investors have formed a new joint venture, Nala Renewables, to invest in solar, wind and power storage projects. The two companies already have the Impala Terminals joint venture for liquid, bulk and container cargo, which was created in 2018 and now operates 28 facilities in 20 […]

Vopak and BlackRock buy three Dow terminals for US$620 million

Vopak Industrial Infrastructure Americas, a 50:50 joint venture of Dutch independent tank storage company Royal Vopak and US investment firm BlackRock’s Global Energy & Power Infrastructure Fund, is to buy three major US Gulf Coast terminals from Dow Chemical for US$620 million (€523 million). The transaction includes Dow’s chemical storage terminal in Freeport, Texas, which […]

When supply outstrips demand

Kpler’s Alex Booth looks at how the global crude crisis in 2020 came about, how it affected storage and the direction of the trends now. THE BUILD-UP TO THE GLOBAL CRUDE OVERHANG – A PRICE WAR COMPOUNDED BY COVID-19 The build-up to the global crude crisis started long before COVID-19 decimated demand. OPEC+ had been […]