Looking at Latin America’s oil assets
EBX
The Brazilian company EBX is currently discussing the possibility of constructing a refinery in Brazil in partnership with two Chinese companies. The proposed refinery will be located in Super Porto Acu, Rio and will include a steel mill, which is expected to be majority owned by Wuhan Iron and Steel, China. Once completed, the refinery will process oil from OGX, a subsidiary company of EBX. The funding for the refinery will come from EBX and the two Chinese partner companies.
ENAP
ENAP a Chilean state run oil company has announced that it is looking to seek private investment. ENAP has suffered from financial difficulty as a earth quake earlier this year affected production at its two biggest refineries.
Petrobras
The Petrobras owned Paulinia refinery, Sao Paulo will restart at the end of this week. The refinery has been under going planned maintenance to increase the capacity to by 18 000 bpd to reach 390 000 bpd. The company is also planning on carrying out a month of maintenance at the Recap refinery, also in Sao Paulo.
Petrobras has announced that it is looking to sell part of its Argentina assets. The company is looking to sell its Argentina assets to Oil Combustibles SA for US$ 110 million. The sale package includes a refinery, gasoline stations and crude inventories worth approximately US$ 74 million.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/06052010/looking_at_latin_americas_oil_assets/
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