It has been announced that the first private oil refinery will be built in Tunisia this year. There is already one refinery in Tunisia however, it is state owned. The new facility will be in Skhira and have a processing capacity of 120 000 bpd after the first phase of construction and will be expanded to 250 000 bpd in the second phase.
Reliance Industries is currently seeking US$ 1 billion worth of funding to expand its petrochemical industry as well as its telecoms division. RIL has already approached banks and is seeking a 5 year loan term.
A plan to construct an oil refinery, naphtha cracking unit and petrochemical facility that was scrapped in Taiwan is possibly moving to Malaysia. The Malaysian Minister of Economic Affairs made this announcement at a legislative committee meeting. The entire facility is likely to require an investment of US$ 120 billion.
Hindustan Petroleum Corporation Limited (HPCL) has announced plans to expand the Vizag refinery. The company are looking to increase production at the facility to 15 million tpy by the end of 2016. Engineers India have been contracted to carry out the feasibility study for the proposed facility.
A Dubai listed investment group are looking to invest in a downstream facility in Baatan. This new facility would be of great benefit to the area in the Philippines as it will secure both fuel and petrochemical supplies to the country.
Dimitry Firtash, a Ukrainian billionaire, has announced his intentions to invest up to 2 billion Euros in the Ukrainian petrochemicals sector over the next 8 years. Firtash will invest his money in DF Holding who will increase production of methyl, propylene, ethylene, polystyrene and caprolactam. Firtash has also spoken of plans to acquire petrochemical facilities over seas.
Kuwait are planning on building a new refinery which will have a production capacity of 614 000 bpd. Kuwait Petroleum Corporation are looking to build the new facility to ensure that domestic demand is met and help international demands for low sulfur products.
The Iranian Oil Ministry has released plans to launch 9 new refining projects in the next year. The projects include upgrading and boosting capacity at a facility in Tehran and the third phase of the development plant at the Abadan refinery which will be onstream in June 2013.
Edited from various sources by Claira Lloyd
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