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Global downstream news: 15 September 2014

Hydrocarbon Engineering,


South korea’s state run Korea National Oil corp. (KNOC) has agreed to sell it Canadian oil refining subsidiary to a New York based commodities merchant bank.

Harvest Operations, KNOC’s energy affiliate in Canada, has indicated that it will hand over its 100% stake in the North Atlantic Refining Limited (NARL) to SilverRange Financial Partners LLC for an undisclosed price.

The agreement includes the Come by Chance refinery in Newfoundland, as well as 53 gas stations and convenience stores.


Six workers have been injured in a fire at a Petrobras refinery in Sao Paulo. Petrobras has indicated that it is investigating the cause of the incident, which occurred at the Henrique Lage refinery in Sao Jose Campos.


Poland has resumed natural gas deliveries to Ukraine after receiving a pledge that Russia’s Gazprom would deliver requested supplies to Polish state run gas importer PGNiG.


Saudi Aramco may team up with Thailand’s largest oil and gas conglomerate, PTT PLC, to develop an oil refinery in central Vietnam.

The companies have completed a feasibility study for the project, to be located in Binh Dinh province, and have submitted it to the national government for approval.

The planned refinery will have a processing capacity of 400 000 bpd of rude and will cost approximately US$ 22 billion to construct. Construction is expected to begin in 2016, with the plant coming online in late 2020.

Edited from various sources by Emma McAleavey.

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