Bharat Oman Refineries Limited’s new $2.4 billion refinery complex will be formally dedicated on May 20. Those involved see the project, in which Oman Oil Company has a 26% equity interest, as a symbol of burgeoning economic relations between Oman and India. The 120 000 bpd refinery is capable of producing 6 million tpy of petroleum products, in addition to smaller quantities of jet fuel and gasoline. The complex was commissioned earlier this year, boosting refining capacity in the deficit prone northern and central regions of India.
Essar Energy Plc today has said it is on track for completion of the US$ 1.8 billion Phase 1 expansion project of the Vadinar refinery, Gujarat. The project aims to increase capacity from 300 000 bpd to 375 000 bpd and remains on track for completion by the end of 2011. The upgrade will significantly increase the complexity of the refinery, allowing it to process much heavier varieties of crude oil and improve margins. An additional optimisation project to increase capacity to approximately 405 000 bpd by September 2012, is also reportedly on track.
State owned oil company Petronas unveiled plans on May 13 for a US$ 20 billion oil refinery and petrochemicals complex in a southern state bordering Singapore, as part of its energy processing expansion. There are hopes that the project, which will be completed by late 2016, will serve to complement Singapore, which is Asia’s largest oil trading and storage center but lacks resources for further expansion.
Global Energy & Industrial Operations, Inc. is set to construct Sri Lanka’s first private oil refinery. The US$ 1.5 billion project would involve the construction of a 100 000 bpd plant in Trincomalee twice the size of the only current state run Sapugaskanda refinery.
PDVSA has reiterated its commitment to jointly upgrade the Dung Quat refinery with Vietnamese state oil company PetroVietnam. The companies have also agreed to invite a Japanese partner to join the project to raise the refinery's capacity from 130 000 bpd to 210 000 bpd. Upon completion of the upgrade, the refinery will process crude oil imported from Venezuela.
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