Early August downstream news update: Europe, Asia and the Middle East

Europe

Greece

The State Oil Company of Azerbaijan Republic (SOCAR) has purchased shares in the Greek gas transport company, DESFA.

SOCAR made an improved offer of 400 million euros for 65% of shares (31% of the State Privatisation Fund and 35% of Greek oil refining company ‘Hellenic Petroleum’.

The Governing Council of ‘Hellenic Petroleum’ have indicated that the final decision of the part of the company will be made at a special shareholders meeting on 2^nd September.

Asia

India

N. Yuvaraj, Vice Chairman of the Visakhapatnam Urban Development Authority, has commented that the 15 million tpy refinery to be set up by HPCL in the Andhra Pradesh Special Economic Zone (APSEZ) in Visakhapatnam district is critical to the success of the Petroleum, Chemical, Petrochemical Investment Region (PCPIR) between Visakhapatnam and Kakinada.

The PCPIR Special Development Authority is making every effort to get the project underway.

Yuvaraj said the draft master plan would be made public on 5^th August. A public hearing is to be conducted next year, after the completion of all studies.

Yuvaraj also outlined that the PCPIR was expected to attract investments in the region of Rs 300 000 crore by 2031, generating 640 000 new jobs.

Also in India, state owned Engineers India Ltd have landed a Rs 670 crore contract from Chennai Petroleum Corporation Ltd (CPCL) for the construction of a coker unit that will convert residual oil into fuel.

Middle East

Egypt

Egypt is receiving natural gas relief from Qatar.

The first of five shipments of LNG from Qatar has arrived at an Egyptian port in order to address energy concerns.

Energy research group Wood Mackenzie, in June suggested that natural gas production from Egypt should stay approximately 6 billion ft³/d, and is not expected to rise much beyond this for the rest of the decade.

Wood Mackenzie also commented that Egypt could find short term relief with natural has from Qatar.

Kazakhstan

Rominserv, part of Rompetrol group, secured a contract worth US$1.072 billion to modernize the processing capacity of Pavlodar refinery in Kazakstan.

The work will increase capacity to 7 million tpy, additionally improving product quality and reducing environmental impact.

Initially, the company is to procure materials and equipment for new installations and the restoration of existing installations.

Phase II of the project will commence in 2014, following the completion of Pavlodar analysis.

Edited from various sources by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/06082013/early_august_downstream_asia_middleeast_europe534/