Global downstream news: 24th April 2014

Brazil

Production of polyethylene terephthalate (PET) will not begin at Brazil’s Petroquimica Suape (PQS) petrochemical complex until the end of the current quarter.

Petrobras has invested approximately US$ 5 billion in the project, which has the capacity to produce 700 000 tpy of purified terephthalic acid (PTA), which is the main raw material in the production of PET resin and polyester.

Russia

Russia’s GazProm has landed Ukraine energy firm Naftogaz with an additional US$ 11.4 billion gas bill, more than five times its original claim.

A Gazprom source has indicated that the US$ 11.4 billion is in addition to the US$ 2.2 billion that Naftogaz already owes for supplies in 2013 and 2014 so far. The additional source has been said to be related to Naftogaz’s failure to meet a ‘take or pay’ clause for gas supplies.

Malaysia

Armed pirates have raided an oil tanker sailing in the Malacca Straights and abducted three crew members.

The pirates also pilfered three million litres of diesel from the vessel, out of an available five million litres on board.

Nigeria

Ex-militant leader Felix Timilaemi has launched a voluntary campaign against illegal oil bunkering, illicit refining of petroleum products and other forms of oil theft prevalent in Ekeremor Local Government Area of Beyelsa State.

Meanwhile, the Shell Nigeria Forcados oil terminal remains closed, seven weeks after it was shut down for repair following a sabotaged undersea pipeline.

Edited from various sources by Emma McAleavey

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/24042014/downstream_news_416/