M&G Chemicals will construct a second-generation bio-refinery in the region of Fuyang, Anhui Province, China, for the conversion of one million tons of biomass into bio-ethanol and bio-glycols.
The project is expected to be a joint venture with Chinese company Guozhen, which will provide one million tons of straw biomass and use the lignin resulting as a by-product from the bio-refinery to feed a 45 MW co-generation plant, which will be constructed at the same time as the bio-refinery at the same site.
European refiners are struggling to salvage what may be one of the worst years on record. Refiners are cutting production, running down stocks of crude oil and closing plants if they make a loss.
Unrest in the Middle East has resulted in a stubbornly high crude oil price, which in turn squeezes profit margins amid weak demand as European economies are struggling to maintain growth.
On the other hand, larger refiners in the US, Middle East and Asia are enjoying cheaper feedstock, giving them a head start in the market race.
US Gulf Coast gasoline weakened yesterday after Citgo Petroleum announced its Lake Charles refinery in Louisiana was operating normally and would restart a unit by the end of November.
Pemex has not axed plans for a new US$ 10 billion Tula refinery, according to the company’s CEO, despite having pushed back completion of the project to an unspecified date.
The future of the new Tula Bicentenario refinery in the eastern state of Hidalgo has been the subject of debate since it was left out of Pemex's updated five-year business plan last month.
Increased flaring caused by a power outage at Valero’s Texas City refinery Wednesday does not pose a risk to residents, Texas City Emergency Management Manager Bruce Clawson said.
Valero spokesman Steve Lee said power was restored about an hour after the outage, which happened mid-afternoon yesterday. The cause of the outage has not yet been determined.
Edited from various sources by Katie Woodward
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