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End of 2013: European downstream news

Hydrocarbon Engineering,


Italy

LukOil has taken full control of the ISAB refinery near Priolo, Sicily after buying out Italian energy company ERG’s remaining 20% share of the joint venture for €400 million.

Russia

Rosneft began handling and installing oversize equipment at its Kuibyshev, Syzran, Achinsk, Komsomolsk and Angarsk refineries in early December.

Work is also underway towards installation of four hydrocracking reactors ranging in weight from 350 – 1300 t and measuring in length from 24 – 48 m at the Achinsk refinery.

Also in Russia, Russian holding company Alliance Group is selling its Khabarovsk refinery to a company controlled by Eduard Khudainatov, a former senior executive at Rosneft.

Scotland

Almost all 1350 employees at Ineos’ Grangemouth refinery and petrochemical plant have signed up to the country’s new pension plan and accepted new terms and conditions. The acceptance of the deal follows a long dispute between Ineos and the unite union over the dismissal of a union representative.

Also in Scotland, Swedish oil company Nynas is to shut down its underperforming crude plant in the Port of Dundee.

A depot operation is to remain at the site in order to allow Nynas to continue supplying its Scottish based customers, but the overall workforce will be slashed to 20.

Germany

Private equity giant Carlyle Group and Swiss trading house Vitol have teamed up to launch a 50/50 venture, Varo Energy, which has bought 45% in Germany’s Bayernoil refinery from OMV.

Edited from various sources by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/06012014/europe_downstream_news_christmas_2013_13/


 

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