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Mid August downstream news update: Asia and the Middle East

Hydrocarbon Engineering,


Asia

Yvonne Chia has been appointed as an independent and non-executive director for Shell Refining Company (Federation of Malaya) Bhd.

India

Bharat Petroleum Corporation Lts has posted a net profit of Rs 150 crore for the quarter ending 30th June, against a loss of Rs 8836 crore in the same quarter a year ago.

Net sales for the quarter increased marginally, by 7.6%, to Rs 58 705 crore.

Gross refining margins (GRM) increased to US$ 4.05/bbl, from US$ 2.62/bbl in the previous quarter.

Profits were boosted due to the fact that the company reduced the under recovery sale of subsidised petroleum products to RS 544 crore. It was Rs 7964 crore in the same quarter a year ago.

Mangalore

Mangalore Refinery and Petrochemicals Limited (MRPL) is expecting to receive an Iranian oil cargo by the end of the week.

MPRL’s managing director said that ‘the cargo was loaded at Kharg on 8th and 9th of this month and is likely to reach Mangalore by the end of this week’. He added that the firm plans to lift four Iranian oil cargoes this month.

Odisha

The Odisha government has decided to employ Singapore based Jurong Consultants Pte Ltd for a product profile and feasibility study of the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) proposed at Paradeep.

Odisha Project Development Company Limited (OPDCL), a joint venture of Odisha Industrial Infrastructure Development Corporation (Idco) and IL&FS is the programme manager for the project.

Idco will also undertake a detailed environment impact assessment (EIA) study for the PCPIR project. This will be conducted soon after the completion of the product profile study.

Middle East

Oman

The Oman Refineries and Petroleum Industries Company (ORPIC) has announced that it will be proceeding with a US$ 5 billion programme to boost processing capacity at its refinery in Sohar and build a nearby petrochemicals complex.

A US$ 3.6 billion facility, to be sited next to ORPIC’s refinery, will have a steam cracker unit, high density polyethylene and linear low density polyethylene plants, and a polypropylene plant.

Once completed, the plastic project will increase Oman’s petrochemical production capacity from 200 000 tpy to 1.4 million t.

ORPIC’s CEO, Musab Al Mahruqi, said that the tender for the front engine engineering design (FEED) stage of the project could be called within two months.

Edited from various sources by Emma McAleavey.

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/14082013/mid_august_downstream_news561/


 

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