Downstream news update: 19th February 2014
UK
Essar Energy Plc has said that it will shutdown a small crude unit and start a US$ 100 million cost improvement programme at the UK’s second biggest oil refinery as part of efforts to stem a sharp decline in refining margins.
USA
Montana
Calumet Montana Refining has resubmitted its application for an air quality permit related to the 10th February expansion, after the state asked for more information on the original proposal.
The bureau has until 12th March to decide if the filing is complete, after which it could issue a preliminary determination that would be open to a 30 day comment period.
Nigeria
The military taskforce operating in the Koko community has destroyed 42 illegal refineries and arrested 62 oil thieves.
Saudi Arabia
Emrill has signed a US$ 27.2 million deal with Irish company, Sepam for the construction of Saudi Arabia’s biggest petrochemicals plant.
The project will be the largest single phase petrochemical development in the world and is due for completion in 2016.
Iraq
A South Korean joint venture has secured a US$ 6.04 billion contract to build an oil refinery in Iraq.
The order was placed by State Company for Oil Project (SCOP) and will be built in Karbala.
Construction is expected to take approximately 54 months, and the finished refinery will have the capacity to process 140 000 bbls of crude oil per day.
China
Eastern China’s Shangdong province has banned approvals of new oil refining projects.
No state refiners have refinery projects under construction or pending approval in Shangdong. It isn’t clear how many refiners might be affected.
Yemen
Security forces have detained 27 armed men accused of attempting to attack an oil refinery in Al-Braiqa district of Aden on Saturday.
Indonesia
Local firm PT Indosmelt aims to sell its ahres to the public to generate US$ 500 million in funds by the end of next year.
President director Natsir Mansyur said that the firm was currently in negotiations with potential underwriters including Kresna Securities.
‘We will use the funds gained through the initial public offering to support our plan to build a gold refinery’.
Bahrain
Bahrain Petroleum Company (Bapco) has launched a campaign to foster occupational safety at the refinery.
‘Hand Safety’ campaign aims to enhance awareness among Bapco and its contractors employees in reducing and eliminating the number of hand injuries.
Edited from various sources by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/19022014/downstream_news_171/
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