During the third Conference on Rotating Equipments at Oil Industry and Power Plants, an Iranian official from the country’s oil ministry announced that the country now supplies 70% of the equipment needed for petrochemical processing domestically. The minister announced that the main challenges in this industry is manufacturing and repairing rotating equipment as well as producing catalysts for petrochemical processes.
A US$ 1.7 billion contract has been awarded to Marubeni Corp. The contract is part of phase 3 of the modernisation project for the Atyrau refinery. The facility is the largest refinery in Kazakhstan and has a processing capacity of 100 00 bpd. As part of phase 3 a new fluid catalytic cracker will be added to the plant to help the facility produce oil products that meet European environmental standards.
The Nigerian Minister of Works Mr. Mike Onolememen has announced that three new refineries are in the pipeline for the country. The new facilities are part of the new benefits to the country after the withdrawal of the fuel subsidy in the country.
The Sultan of Oman, Al Mansouri and UAE Minister of Economy have met to further discuss the joint refinery venture to be executed in the Duqm region. The International Petroleum Investment Company, Abu Dhabi and Oman Oil will own the facility which is expected to process 230 000 bpd. This is part of a four phase project from International Petroleum Investment Company who hope to build three more facilities in the Oman region.
Saudi Aramco are set to sign a deal with Sinopec of China to construct a new refinery in the Yanbu area. The signing ceremony will commence on 14th January this year. The facility is expected to have a processing capacity of 400 00 bpd and be jointly owned by the two companies. Saudi Aramco will own 62.5% and Sinopec will claim the rest. The operating company will be known as Yanbu Aramco Sinopec Refining Co.
Sabic UK Petrochemicals has awarded AMEC two contracts. The first is an extension to a preexisting deal between the two companies. AMEC will provide continuing maintenance and is worth £ 40 million. The second contract is also a continuation of an existing agreement and is worth approximately £ 30 million. Both contracts are due to expire in 2014
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