Total and the Shetland Islands Council have concluded on a deal for the construction of a gas terminal. Total will invest £ 500 million in the Sullom Voe facility. In return the Shetland Islands Council will be paid rent and receive community benefits. Local farmer Bryden Nicolson will also benefit from the deal, as he will lease some of his land to Total to make up one third of the terminal site and access road.
Peter Voser, Chief Executive Officer, Royal Dutch Shell has voiced Shell’s interest in returning to the Indonesian market, after its original founding there in 1890. The company wishes to target the company to become part of its investment portfolio for operations through up and downstream operations.
Felipe Calderon, the Mexican President has made a statement confirming that US$ 400 million of investment is now ready for the construction of a new refinery. The Bicentenary Refinery has already been designed and environmental and industrial security standards have already been discussed. The facility will have the capacity to process 250 000 bpd. President Calderon also announced that there is an investment of US$ 2.5 billion available from a consortium from Brazil’s Braskem and Mexico’s Idesa for the construction of a petrochemical complex in the country.
The Jordanian Ministry of Energy and Mineral Resources has hired consultancy firm Charles River Associates. The company will provide financial, legal and technical consultancy services for a refinery expansion project currently being undertaken by Jordan Petroleum Refinery Company.
Sinopec has announced plans to increase its refining capacity by 10 million tpy during 2010. Sinopec is Asia’s largest refining company and this increase will only secure its top spot further.
India has reviewed its 11th Plan and is now aiming to add 6% more oil refining capacity to the country by 2012. India is hoping to increase capacity to 256 million tpy. At present, refining capacity stands at 182.09 million tpy. To contribute to the increase in refining capacity, three greenfield refineries are currently under construction in Bhatinda, Bina and Paradip.
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