Early September: Global construction update

Belarus

Gazprom Neft will be carrying out maintenance at two Belarus refineries this month and has announced outages. Part of the Moscow refinery which has a processing capacity of 240 000 bpd will be taken offline and approximately 20% of the 240 000 bpd Mozyr refinery will be halted for partial maintenance.

Iran

The National Iranian Oil Engineering and Construction Company have secured an investment fund of approximately US$ 11.6 billion to build new refineries in the country. Also, the country as a whole has earmarked US$ 47.5 billion for investment in oil refining and distribution. There are also plans to invest US$ 2 billion in to Iran’s storage capacity by the end of 2015.

Japan

Last week, Seibu Oil Co Ltd commenced a maintenance period at the Yamaguchi refinery. The crude distillation unit is currently offline and is periodically closed every four years for planned maintenance. The unit has a processing capacity of 120 000 bpd.

Kuwait

Amec Plc and Foster Wheeler have been selected as consultants for the new refinery planned for the country. The facility is going to require US$ 14.2 billion of investment. Along side the refinery, a US$ 4.6 billion clean fuel project will be built and Amec and Foster Wheeler will act as consultants for this project also. Nine companies bid for the consultant roles on both projects.

Nigeria

Orient Petroleum has announced plans to commence processing operations at a new refinery by the end of 2013. The facility will be located in the Anambra state, south east of the country and have a processing capacity of 20 000 bpd. Nigeria is one of the world’s top 10 oil exporters however, due to poor conditions at the country’s refineries it has to import the majority of refined products demanded.

Adapted from press release by Claira Lloyd.

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