Refinery sales, expansions and construction plans
Construction plans
Kuwait is debating plans to construct a new refinery. The country is looking to boost fuel output as it looks to export products to Asia. If plans are approved by the Supreme Petroleum Council work on the country’s fourth refinery will begin in 2015. Also, Total SA may join Kuwait in the construction of a new refining facility in Zhanjiang, China. Total will enter in to the venture with Kuwait and China Petroleum & Chemical Corp.
An Indian refining company has voiced plans to construct a new refinery near the Barmar oilfield. The field is located near Cairn, India and the new facility is said to be a very feasible project as the Rajasthan government are offering tax concessions for the new refinery, which is expected to be able to produce up to 6 million tpy.
Punj Lloyd has announced that it has won a contract for the construction of a refinery. The Cuddalore refinery will be built in South India and is estimated to have a processing capacity of 6 million tpy.
Expansion
Venezuela is discussing plans to build a power plant for its El Palito refinery. The plant would produce 745 MW of power and will cost approximately US$ 700 million to build. The construction of this power plant is a response to the national energy crisis currently being experienced by Venezuela.
Sales
Shell and Essar Oil are no longer in discussion over the sale of three European refineries. Shell is looking to sell its Heide and Hamburg facilities in Germany and the Stanlow facility in the UK. Essar oil was originally keen to make the purchase and the discussion period was increased from November 2009 to January 2010. Essar have now announced that they have no interest in purchasing the facilities and Shell are now accepting new bids.
The Philippines’ larges food group San Miguel Corp. has announced plans to venture in to the oil refining industry. The company is looking to invest in the Philippines Petro Corp. refinery and acquire a 40% stake in Sea Refinery Corp.
Caltex Australia Ltd. has announced that it would be interested in buying refineries in Australia if any came up for sale. Caltex have made this decision after the company was blocked from purchasing 300 ExxonMobil Corp. filling stations.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/04052010/refinery_sales_expansions_and_construction_plans/
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