Global downstream update: 28 May 2014

Ecuador

Eucuador is preparing to sign a financial deal with China for US$ 7 billion to finance a new refinery. The Refineria Del Pacifico plant will cost a total of US$ 10 billion and will have a processing capacity of 200 00 bpd. The first instalment of financing is expected to total US$ 2.5 billion.

Furmanite

Furmanite Corporation has announced that Charles R. Cox will retire as the company’s CEO effective 31 December 2014. The company has also announced that Sangwoo (Bill) Ahn, Presiding Non-Executive Director, will assume the additional role of Non-Executive Board Chairman during the succession planning process associated with Mr Cox’s retirement. Cox will continue to serve as a director of the company.

Honeywell

Honeywell has announced that Vimal Kapur has been named president of Honeywell Process Solutions (HPS), a Honeywell business that supplies automation control, instrumentation and services to process manufacturers in industries such as oil and gas, refining, pulp and paper, petrochemicals, and metals, mining and minerals.

A nearly 30 year veteran of the process automation industry. Kapur has been with Honeywell for more than 25 years. He has held a number of key strategic business positions within Honeywell including vice president of Global Marketing and Strategy for HPS, and managing director for Honeywell Automation India Limited.

Iran

It has been reported that China plans to spend US$ 2.2 billion to implement the development project of the Abadan refinery in Southwestern Iran. The plant is expected to cost US$ 2.6 billion in total and it has not been reported where the remaining investment money will come from. The project, once complete, will allow the refinery to process Euro 5 grade products.

Spain

PROTEGO Spain is celebrating its 10th anniversary. The branch was officially established as a company in February 2004, but its first activities started on June 1 2004, continuing the work of eight years which Fike Iberica had started as a PROTEGO distributor. In these 10 years of activity, the company has strengthened and consolidated its presence in the Spanish market.

USA

It has been reported that Valero Energy Corporation is nearing completion of equipment studies for the construction of a new unit at its Three Rivers refinery, Texas. The company plan on building a gasoline hydrotreater unit at the facility.

Edited from various sources by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/28052014/28_may_refining_appointment_news/