Downstream industry investment news

India

Bharat Petroleum Corp. has commissioned an expansion at the Bina refinery, central India. The 120 000 bpd facility will hopefully help meet the increasing demand for refined products in the country. Commercial output from the hydrocracker will begin by 15^th February.

Italy

Lukoil are going to increase their stake in the Erg owned ISAB refinery. Lukoil will own 60% of the facility once the deal is complete as they are investing US$ 281.2 million for a further 11%. The facility will continue to be jointly managed by both companies.

Russia

OAO Gazprom Neft is considering acquiring four or five refining assets in Europe. The company is looking at refinery facilities in Germany, UK, Italy and France.

TNK-BP has announced that it plans to invest US$ 2.9 billion to maintain and expand its refineries throughout Russia. The investments will be made as part of a plan that will run until 2015. The company is looking to increase fuel quality to meet European standards.

Saudi Arabia

Saudi Aramco are planning to expand facilities at the Yanbu refinery. The company is looking to increase production of automotive lubricants to 1.3 million tpy. The expansion project will be completed in 2015 and cost approximately US$ 1 billion.

Uganda

East African regional states and foreign investors are partnering with the Ugandan government to construct a US$ 2 billion refinery. The facility will be able to process 20 000 bpd after phase 1 and then be increased through several phases to reach 120 000 bpd.

US

ALFA, SAB de CV (Mexico) has purchased three South Carolinan petrochemical plants. The company has purchased the facilities from Eastman Chemical Company for US$ 600 million. As part of the investment ALFA will also acquire the integrated polyethylene terephthalate and purified terephthalic acid business.

US$ 1.4 billion will be invested by Chevron Corp. to construct a facility in Mississippi for the production of motor oil and other lubricants. The facility will be located in Pascagoula and have a processing capacity of 25 000 bpd.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02022011/downstream_industry_investment_news/