Petrochemicals

Recent developments

Offshore and subsea

Equinor advanced NCS tie-backs, awarding subsea packages to TechnipFMC and coordinating NOK 6bn multi‑project awards; bp exited Bay du Nord. Beyond Europe, Saipem’s Kutei FPSO EPCI progressed Indonesian gas, the BTC operatorship transferred to SOCAR, and Petrobras opened the Technological Center for the Brazilian Pre‑Salt, and the Baleine Phase 3 subsea contract.

LNG and marketing

ADNOC consolidated LNG marketing via an integrated global LNG platform and signed a 15‑year Ruwais SPA with INPEX. XRG expanded equity in Rio Grande LNG, while ADNOC, XRG and Mitsui framed collaboration across LNG, crude, sulfur, shipping and chemicals.

Project services and refining

Project execution capacity strengthened as Worley’s PMC framework with Aramco and Fluor’s PMC LTA were awarded. Operations optimization featured Axens–ERC lifecycle support, APC deployment at Petromidia, and Essar’s renewed crude facility to diversify supply.

Low‑carbon and circular

Low‑carbon routes expanded: Topsoe and Sasol’s G2L™ for SUSTAERO, Heurtey’s efurnace at Pacífico Mexinol, MGC’s green methanol offtake, and Axens’ Lurgi MTP™ acquisition. Circularity advanced with LyondellBasell’s 75% recycled wrappers and Al Baleed–Carbeau CO2‑to‑chemicals in Oman.

Policy and feedstocks

Europe opened an antidumping probe into Chinese polyether polyols, and INEOS urged protections for Europe’s chemical industry. Supply chains evolved through Yara’s Texas City ammonia acquisition, MoCI–QatarEnergy resource governance, Zeeland’s integration report, and Eni–Mercuria’s trading JV.