Shell contractor UGL Limited has now completed shutdown projects at the Corio refinery and workers have been let go in the Geelong area. Australian Manufacturing Workers Union has confirmed that 13 people were dismissed from the project this week.
Only weeks before it is due to come online at full capacity, the new refinery and chemical plant in Pengzhou has been put under investigation for accusations of corruption. The £ 4 billion facility was originally decided upon in 1999 and has been a topic of much controversy since. It has been reported that the corruption reaches many political levels and prominent Chinese families.
Indian government sources have said that 10 billion rupees will be given as a sovereign guarantee to back local insurance for refineries using Iranian oil. This move has been made to boost imports paid for in the local currency in an attempt to ease the current pressure on the Rupee.
Hindustan Petroleum Corporation Ltd has received clearance for a 9 million tpy refinery and petrochemical project. The Union Cabinet has granted HPCL permission to construct the new plant in the Barmer district of Rajasthan. An investment of Rs 37 230 is needed for the entire project and commissioning is expected by the end of 2017.
The Japanese government is to start helping oil firms consolidate and restructure domestic refineries. The Economy, Trade and Industry Ministry has said that it is totally necessary for the oil industry to become part of the gas business as well as electric power and for them to promote integrated management programs. The government also hopes to enhance the competitiveness of these refineries so they can be more readily compared to similar facilities in South Korea and other Asian nations.
Edited from various sources by Claira Lloyd.
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