The Catalyst Review January 2025 - 10

COMMERCIAL NEWS
Shell Offshore begins oil
production at Whale deepwater
platform in Gulf of Mexico
Shell Offshore has started oil production
at its Whale floating platform in the Gulf
of Mexico, its 14th deep-water project in
the region. Located in Alaminos Canyon
Block 773, the platform will initially tie back
15 wells. With peak production of 100,000
gross boe/d, Whale holds an estimated
recoverable resource of 480 MMboe. The
platform features energy-efficient design,
including waste-heat recovery units,
aiming to reduce greenhouse gas intensity
by 30%. Shell operates the project with
a 60% stake, while Chevron holds 40%.
Source: Oil & Gas Journal, 1/09/2025
Vioneo to use Honeywell UOP's
methanol-to-olefins technology for
Antwerp plant
Vioneo has chosen Honeywell UOP's
methanol-to-olefins (MTO) technology for
its €1.5B plant in Antwerp, Belgium, which
will produce plastics from green methanol
using renewable energy. The facility
will convert biogenic carbon dioxidebased
methanol into essential plastics
components like propylene and ethylene,
supporting Europe's emissions reduction
goals. The plant, set to begin operations in
2028, will utilize Honeywell's technology
to ensure high-purity output, reduce
waste, and minimize costs while promoting
cleaner industrial practices. Source:
Hydrocarbon Processing, 1/13/2025
BASF Enters into Agreement with
Bachl to Sell its Styrodur Business
BASF has signed an agreement to
sell its Styrodur business, an extruded
polystyrene (XPS) insulation material,
to Karl Bachl Kunststoffverarbeitung &
Co. (Bachl), a leading German insulation
manufacturer and long-time Styrodur
distribution partner. The sale, which
includes the Styrodur brand, is expected
to be completed by mid-2025, pending
regulatory approval. Around 50 BASF
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The Catalyst Review
employees in production, marketing, and sales
will remain with the company. This move aligns
with BASF's strategy to focus on expandable
polystyrene, with plans to expand Neopor
production in 2027. Source: Process Worldwide,
1/13/2025
India's refinery capacity to expand by
22%, strong demand drives stability
India's refinery capacity is expected to grow
by 22% in the next 2-3 years, driven by strong
demand for petroleum products like diesel,
petrol, and LPG. Despite subdued gross
refining margins (GRMs) in FY26 due to global
oversupply, the country's refining sector
remains stable with robust demand projections.
While city gas distribution companies may
see lower EBITDA margins due to reduced
domestic gas allocations, they are expected
to maintain stable credit profiles. Upstream
oil companies will continue benefiting from
crude prices above $65/bbl. India Ratings
and Research highlighted that India's energy
transition will depend on hybrid energy and
storage capacity development. Source:
ETEnergyWorld, 1/02/2025
Commercial decisions, not Trump, will
determine US oil production
US oil production reached a record 20.7M b/d
in October 2024, driven more by commercial
decisions than political rhetoric. Despite
potential deregulation under the Trump
administration, Biden's term saw nearly 4.5M
b/d added to production. US crude exports
also hit new highs at 4.1M b/d in 2024, with
Europe and Asia as major markets. However,
Trump's planned tariffs on imports from
China, Mexico, and Canada could raise oil
import costs, impacting prices and demand.
Additionally, his policies on Iran may affect
crude exports to China. Source: Petroleum
Economist, 1/06/2025
Final Rules for 45V Tax Credit Could
Help Clear a Path for Clean Hydrogen
The final rules for the Hydrogen Production
Tax Credit (45V) were published on January 3,
2025, after delays since the Inflation Reduction
January 2025

https://www.process-worldwide.com/basf-enters-into-agreement-with-bachl-to-sell-its-styrodur-business-a-947912d9899aca611fa475ffcd25809f/?cmp=nl-a4c38030-50a7-41e2-b488-959594b07e4f https://www.ogj.com/drilling-production/production-operations/field-start-ups/article/55259926/shell-starts-production-from-deepwater-gulf-of-mexico-whale-development?o_eid=0136C6445378C1T&oly_enc_id=0136C6445378C1T&rdx.ident[pull]=omeda|0136C6445378C1T&utm_campaign=CPS250102011&utm_medium=email&utm_source=OGJ+Expl+Drill+%26+Prod https://energy.economictimes.indiatimes.com/news/oil-and-gas/indias-refinery-capacity-to-expand-by-22-strong-demand-drives-stability-ind-ra/116883043 https://energy.economictimes.indiatimes.com/news/oil-and-gas/indias-refinery-capacity-to-expand-by-22-strong-demand-drives-stability-ind-ra/116883043 https://www.hydrocarbonprocessing.com/news/2025/01/vioneo-to-use-honeywell-uops-methanol-to-olefins-technology-for-antwerp-plant/ https://www.hydrocarbonprocessing.com/news/2025/01/vioneo-to-use-honeywell-uops-methanol-to-olefins-technology-for-antwerp-plant/ https://www.pemedianetwork.com/petroleum-economist/articles/geopolitics/2025/commercial-decisions-not-trump-will-determine-us-oil-production/?oly_enc_id=3914C7547589C2W https://www.pemedianetwork.com/petroleum-economist/articles/geopolitics/2025/commercial-decisions-not-trump-will-determine-us-oil-production/?oly_enc_id=3914C7547589C2W

The Catalyst Review January 2025

Table of Contents for the Digital Edition of The Catalyst Review January 2025