| WTI Crude | $44.71/bbl | +4.2% |
| Brent Crude | $46.63/bbl | +3.6% |
| HH Nat Gas | $2.47/MMBtu | +10.8% |
| MB Propane | $0.54/gal | +1.9% |
| 3:2:1 Crack | $9.13/bbl | +6.8% |
A new (renewable) unit was delivered to Phillips 66
US-based refiner, Phillips 66, has announced the installation of a new production unit to convert used cooking oil into low-carbon fuel at its only refinery in the UK.
More on the unit:
The unit, composed of "two reactors and nearly 2,000 feet of pipework", was built by a Belgian company nearby and rolled down the road for "installation and commissioning". The oversized cargo (the unit is 50 ft tall and about as heavy as The Space Shuttle) will increase the refinery's renewable diesel capacity from 1,000 barrels per day to 3,000.
What are they saying?
Phillips 66's lead executive in the UK added that the new unit "highlights the refinery’s commitment and investment to further expand our production of biofuels and reinforces our reputation as the refinery of the future.". It wasn't too long ago that the company announced it would be converting its Rodeo Refinery in California into a renewable fuels plant.
Read the press release here.
Lummus Technology forms a new JV for digital solutions
Leading chemical process technology licensor, Lummus Technology, and TCG Digital have announced the formation of a new joint venture called Lummus Digital.
What the JV will do:
Lummus Digital will work with Lummus' existing customers (and potential customers) to "provide big data, advanced analytics, artificial intelligence, process simulations, proprietary know-how and 24/7 advisory services". Those customers are refining, petrochemical, and gas processing operators (for example, an operations company like Lukoil).
Some context:
Back in June, Lummus Technology was divested by McDermott and sold to The Chartterjee Group (TCG). TCG Digital, the other company that's part of the joint venture, is also part of The Chartterjee Group. The formation of the joint venture combines TCG Digital's capabilities with Lummus's brand name.
Read the press release here.
Sika's new plant in Dubai to coat more floors
Swiss specialty chemical company, Sika, has announced that it has commissioned a new facility in Dubai to produce epoxy resins.
Who needs those epoxy resins?
Sika produces epoxy resins for flooring solutions—in other words, they sell epoxy coatings that make sure floors are "hard-wearing and resilient to mechanical and chemical exposure".
But why build it in Dubai?
By choosing this site in Dubai the company is "increasing [its] competitiveness and specifically strengthening [its] position in the region’s flooring solutions market". Sika expects the construction industry in the region to recover quickly from COVID-19 and to see increased growth in the coming years.
Read the press release here.