Terms have been reached between Iran, Algeria, Angola and South Africa for the construction of small refineries in the countries. The country is looking to build refineries around the globe to boost export opportunities.
The Egyptian group Arabiyya Lel Istithmaraat which had placed a bid to purchase the Petit-Couronne refinery has pulled out. The bidding process for the facility is due to come to an end on 16th April.
HPCL has approved US$ 6.7 billion for the construction of a 9 million tpy refinery in Barmar. The facility will also include a petrochemicals complex.
Iran has so far set aside 2.1 billion Euros for the construction of the Persian Gulf Star gas condensates refinery. The new facility will be built in the Hormozgan province and will end up being the biggest gas condensate refinery in the world. Total investment in the project is expected to be 3.6 billion Euros.
The Iranian petrochemicals industry now has the knowledge to produce 40 different petrochemical products according to Gholamreza Jokar. It is now expected that petrochemical products will soon exceed oil exports in value.
After a fire broke out at the Mina Abdulla refinery on Saturday 9th March, it was reported that there were no casualties and it was successfully extinguished. The fire was caused by a leak in the distillation tower’s pumping system.
The Nigerian Security and Civil Defence Corps has destroyed an illegal refinery and associated adulterated diesel in Ondo State. The refinery was located on the coast and all products were being shipped for distribution to various destinations throughout Irele and Ore road.
Adapted form various sources by Claira Lloyd.
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