THE GOVERNMENT OF THE UNITED ARAB EMIRATES HAS EXPRESSED THE OPINION THAT THE CURRENT GLOBAL OIL PRICE OF AROUND US$50 PER BARREL HAS MANY POSITIVE EFFECTS. IS SUCH A LOW OIL PRICE REALLY BENEFICIAL? Low global oil prices do indeed have certain positive effects, but we need to differentiate which industries are the main beneficiaries. First of all, cheap crude oil comes as good news for industries that use oil as a…

Do you ever hear operators complaining about refinery fuel gas being too lean?  Do your process engineers ever tell you that your furnaces are duty limited because the fuel gas valves are saturated?   Every refinery engineer has seen an operator just dump more LPG into the fuel gas system at one point in time or another.  Everybody may have gotten comfortable with this lazy habit.  If your refinery engages in this…

During January - a month when all eyes were on oil production cuts - exports leaving the Middle East Gulf (MEG) region hit the highest level in at least two years. At the end of November 2016, the Organization of the Petroleum Exporting Countries (OPEC) addressed the perceived global oversupply of oil and consequent low prices. OPEC members agreed that all countries, except Iran, would cut total production by 1.2 million barrels per…

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