OMV AG has said that they are looking to invest US$ 301.4 million in refineries across Europe. The money will be spent on a new butadiene plant for the Burghausen refinery, Germany and upgrading butadiene plant in Schwechat, Austria. The workd in Germany is expected to be finished in 2015 and 2014 in Austria.
Kalahari Investment Company Limited is executing a project to build a refinery in Effutu. The facility will have an initial processing capacity of 200 000 bpd which is expected to be expanded to 400 000 bpd within 10 years. The majority of output from the plant will be exported.
A fellow MP has demanded the early implementation of the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) of the Indian Petroleum Minister. The region is to be located in Odisha and its key tenant will be Indian Oil Corporation Ltd.
Operations have commenced at Basrah Gas Company (BGC), the largest gas project in the history of gas processing in Iraq. The facility is also home to the world’s largest flares reduction project. BGC is a joint venture project between Iraq based South Gas Company, Shell and Mitsubishi.
It has been reported that the phase 1 construction of a new refinery in Nigeria may not commence as planned. The facility is part of Memorandum of Understanding (MoU) between the Nigerian federal government and Petroleum Refining and Strategic Reserve. The MoU also covers the construction of five additional refineries in the country.
Also in Nigeria, Africa’s richest man, Aliko Dangote has revealed that he has secured investments of US$ 4.25 billion for the construction of a new refinery in Africa. The funds all come from banks both within Nigeria and offshore.
Edited from various sources by Claira Lloyd.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/08052013/downstream_construction_news_may_384/