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Asia update: downstream news in early July

Hydrocarbon Engineering,


India

Three companies are showing interest in purchasing shares in West Bengal’s Haldia Petrochemicals Ltd according to reports. The three companies are Mangalore Refinery and Petrochemicals Ltd (MRPL), Indian Oil Corp (IOC) and Reliance Industries Ltd (RIL).

The London, UK based company Vedanta Resources is expressing interest in buying a minority stake in an oil refinery. The plant will be constructed in Rajasthan and have a processing capacity of 9 million tpy. A 200 billion rupee investment will be needed to complete construction of the facility.

Engineers India Ltd have been awarded a contract by Bharat Petroleum Corp. The contract worth US$ 129.5 is for the consultancy process of increasing capacity ay the Kochi refinery to 15.5 million tpy.

Korea

During the first six months of this year petrochemicals were the number one export in Korea. This is the first time this has happened in recorded history. Petrochemicals accounted for US$ 27.3 billion between January and June 2012, which equates to 9.9% of the country’s total exports.

Philippines

Linde Philippines Inc, part of the Linde Group has been awarded a contract by JG Summit Petrochemicals Corporation. This contract is for the installation and operation of nitrogen and hydrogen plants on site at JG’s petrochemical plant as it installs its first naphtha cracker. This cracker will be the first in the country.

Thailand

Due to the fire at the at the Bangchack Petroleum Pcl refinery last week, IRPC Pcl and Thai Oil Pcl have announced intentions to postpone planned maintenance at both facilities to later in the year. These decisions have been made so that supply shortages can be averted whilst repairs are carried out at Bangchack after the fire.

Edited from various sources by Claira Lloyd.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/09072012/early_july_asia_update/


 

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