Asia, Africa and Australasia downstream news: 8th April 2014

South Korea

Korea Basic Science Institute (KBSI) has developed a new breakthrough technology that allows the mass cultivation of microalgae that can be used for biodiesel production.

Kenya

The Kenyan government has begun the process of relocating the Kipevu oil terminal in order to create additional capacity at a cost of US$ 120 million.

Kenyan Ports Authority Chairman Danson Mungatana has said that the new terminal, which is expected to be completed in 2018, will reduce fuel pump prices.

Kuwait

Kuwait is to invite bids for a new oil refinery next month as part of a drive to modernize the sector.

Vietnam

The Can Tho Municipal Department of Planning and Investment has said that if the Can Tho refinery joint venture failed to respond then its investment certificate would be revoked.

Last year the joint venture was requested to submit a deposit of VND 210 billion, equivalent to 3% of the total investment capital of the project. However, the joint venture denied the request.

New Zealand

Refining New Zealand has announced that its hydrocracker and related units will be out of action for a further week.

The oil refinery said that the extended shutdown, which began in the first week of March, would have an impact on its profit margin because its ability to upgrade lower cost feedstock into high value products would be restricted.

Edited from various sources by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/08042014/downstream_news_349/