On the weekend a fire broke out at the Reduc refinery owned by Petrobras. This is the fourth incident of this nature at a plant owned by the company since the end of November last year.
Lukoil Neftochim Burgas has been given a credit line by several European banks including the Italian Export Credit Agency. The US$ 576 million is earmarked for modernisation of the company’s refinery and the establishment of a new unit at the plant. Work should be completed by the end of this year with testing starting in 2015.
A Taiwanese consortium is proposing to build a petrochemicals complex in Fujian province, China, in partnership with Sinopec. The plant is expected to require investment of US$ 15 billion and the consortium is reported to include USI Corp and Ho Tung Chemical Corp. Sinopec is likely to own 50% of the project, according to reports.
The Iraqi anti corruption body has been asked, by the government, to investigate a contract awarded to Satarem of Switzerland with regards to possible corruption. The Company were contracted to build a US$ 6 billion refinery in October 2013.
Strike action has been avoided at the Northern Tier Energy owned St. Paul Park refinery. A three contract was struck between the owners and Teamsters Local 120 just hours before the strike was due to begin. Under the agreement, there is a 3% rise annually for all the union’s members.
ExxonMobil Corp. reported a release of flammable vapour at the Baton Rouge refinery, Louisiana. 6300 lbs were released from a safety valve and a filing was made with the US National Response Centre. The cause of the release has been stated as a lifting of an over pressurised safety valve.
Following a fire at the Citgo Petroleum Lemont, Illinois refinery in October 2013 the company has announced it will restart the vacuum section of the crude unit on 15th January. The plant processes mainly heavy Canadian crude.
Edited from various sources by Claira Lloyd.
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