Page 157 - CW E-Magazine (27-2-2024)

News from Abroad

PARTNERSHIP
Baker Hughes, Dussur open JV facility for oilfield

and industrial chemicals in Saudi Arabia

Dussur, owned by the Saudi Arabian
Public Investment Fund (PIF), Saudi
Aramco and SABIC, in collaboration
with energy technology firm, Bakers
Hughes, recently launched an oilfield
services and industrial chemicals fac-
tory in Jubail, Saudi Arabia. The joint
venture facility will be known as the
Saudi Petrolite Chemicals facility.

The facility spans approximately
90,000 square metres with an on-site
quality control lab, ethylene oxide, pro-
pylene oxide pipeline feedstock, and 14 raw materials like solvents and glycols, more than 70%,” said Dr. Raed Al-Rayes,
storage tanks. The facility will make as well as accelerate the development of CEO of Dussur. Baker Hughes said the
chemicals for oilfield, power genera- manufacturing skills and capabilities of new facility builds its continued strategy
tion and industrial chemicals. the local workforce. “This new project to source and produce chemicals in proxi-
will provide special, distinguished oppor- mity to key demand hubs, as recently
The facility is expected to increase tunities for the sons and daughters of our achieved with the Singapore chemicals
Saudi Arabia’s supply base targets of nation, as we target a Saudization rate of manufacturing facility in 2022.

CHANGING STRATEGIES
Shell withdraws from Iraqi petchem project amid

global review

British oil & gas giant, Shell, has Iraq’s Ministry of Oil said Shell Shell is already seeking buyers for
said that it will not proceed with the would not proceed with discussions its oil refining and petrochemicals plant
Nebras petrochemical project in south- involving the Ministry of Industry and in Singapore. The company has repor-
ern Iraq as part of its review of its ope- Minerals and the Ministry of Oil about tedly shortlisted at least four potential
rations in the sector that has seen a its investment in the project. buyers including energy trader Vitol,
sharp drop in profits in recent years. China National Offshore Oil Corporation
The project, once estimated to come (CNOOC), and Chinese chemical compa-
“After in-depth evaluation on the online within six years of the agree- nies Eversun Holdings and Befar Group
feasibility of the Nebras integrated ment, faced setbacks due to financial for the Singapore assets. Shell is said to
petrochemicals complex with our and contractual disagreements, leading have requested formal bids from these
government partners, Shell has decided to Shell’s eventual withdrawal from the entities by the end of February 2024.
not to proceed with the project,” a deal.
spokesperson said in a statement. Recently, Shell had also announced
“Shell will continue to play a vital plans to close its oil refinery in Wesseling,
In 2015, Shell had signed a preli- role in Iraq’s energy landscape through Germany, by 2025. The site is set to be
minary agreement for the $11-bn our partnership in the Basra Gas Com- transformed into a facility dedicated to
Nebras Petrochemical Project, which pany (BGC) joint venture as the main producing lubricant feedstock, indicating
aimed to position Iraq as a major petro- gas processing entity in Iraq,” the com- a pivot in the company’s operational
chemical producer in the Middle East. pany said. focus.

Chemical Weekly February 27, 2024 157

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