Caltex Australia Limited has announced plans to shut the Kurnell Refinery in New South Wales. The company is planning to convert part of the site into a refined products import terminal. The closure is reportedly due to market conditions. The refinery is still online for the next month, however, on September 17, an auction will take place to sell off the refinery and its components.
According to a new report from ESAI Energy LLC, over the next 12 months an increase in new distillation capacity will result in the closure of refineries in Europe. The report has said that the increase in capacity of 2 million bpd which is anticipated over the next year will undermine the profitability of European refineries and inevitably end in their closure.
It has been reported that Kuwait Petroleum Corp is looking to invest in Indian Oil Corp’s new Paradip refinery. KPC is also aiming to supply approximately 60% of the oil required for processing at the facility. KPC is looking to secure a 50% share in the plant as well as fuel marking rights according to reports.
Hindustan Petroleum is to meet with state officials over the next week to cement key issues and plans for the proposed Barmer refinery in Rajasthan. The company is looking to invest R 37 230 crore in the project which will result in a 9 million tpy refinery.
Oil Refineries of Israel is going to close a hydrocracker at its refinery. The unit is being taken offline in order for repairs to be made to a pipeline that supplies the facility. The unit will be offline for approximately one month as repairs are made. The total cost of work that needs to be done is estimated at US$ 10 million.
An illegal refinery has been found and set on fire by authorities in Asusi village which is in the Okene Local Government Area. The Kogi State Command of the Nigerian Security and Civil Defence Corps found the site and arrested the suspected operator. The site had been under surveillance for a reported two weeks before the arrests were made.
The Engen refinery will reportedly resume operations this week following a period of 90 days in which is has been offline for maintenance. The refinery in Durban has been offline since July 30 for routine, planned maintenance work and all units were affected.
The Ukranian Minister of Energy and Coal Industry has said that the country is interested in importing oil from Azerbaijan for processing at its refineries. The country is also apparently seeking to maintain relations with Azerbaijan across the entire energy market.
Edited from various sources by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/09092014/oil-refining-news-9-sept/