Hindustan Petroleum Corp Ltd has announced plans to invest US$ 9.2 billion by 2019. The company is making the investments in the hope of increasing refining capacity by 81% which is the equivalent of approximately 860 000 bpd. The company is looking to obtain environmental approval to expand the Maharashtra and Vizag plants by the end of this year.
Nagarjuna Oil Corporation Ltd has said that it is looking to commission the first phase of a new refinery by the end of next year. The Rs 25 000 crore Cuddalore refinery will be built in Tamil Nadu and is expected to have a processing capacity of 6 million tpy.
Between October and December this year, Chennai Petroleum Corp Ltd has announced plans to shut units at its Manali refinery for maintenance. A 80 000 bpd crude unit will be one of the units shutdown for a month long planned maintenance stint. It has been reported that a 2 million tpy hydrocracker, 400 00 tpy reformer and 1 million tpy visbreaker will also be taken offline during the maintenance period.
Mangalore Refinery and Petrochemicals Limited has issued a notification inviting applications for 17 jobs within the company. MRPL is looking for one Deputy Finance Manager, nine Chemical Workmen, Four Mechanical Workmen, one Electrical Workman and Two Instrumentation Workmen. All applications should be submitted before 6th June.
On Wednesday 28th May, the fate of the Moribung Kenya Petroleum Refineries Ltd as pending. This came seven months after Essar Energy announced plans to end the partnership it help with the government in the operation of the refinery. The refinery ceased operations on 4th September 2013 and could be turned in to a storage facility.
The Delta State Governor has called for residents of the Niger Delta to be vigilant against people vandalising pipelines and crude oil thieves in a bit to help protect the environment. The Governor has also spoken out, with others, in support of the establishment of modular refineries throughout the Niger Delta to help displace illegal refineries being set up. This would hopefully help youths get gainful employment and steer away from illegal oil refining.
The Nigerian Navy has announced that in Q1 2014, it destroyed 509 illegal refineries. The JTF also destroyed 35 barges, 406 big wooden boats and 10 868 other pieces of auxiliary equipment. It was also announced that in Q1 492 people suspected of being part of illegal refining activities were arrested and handed over to law enforcement agencies for prosecution. It was also pointed out by the Nigerian Navy, that due to improvements in Nigerian maritime safety, between January and April of this year, 602 oil tankers were legally and safety able to load 61 584 559 t of crude oil from the country.
SACE, an Italian export agency has pledged US$ 100 million to ORPIC to help support the internationalisation of Italian firms. The money is to be used as part of the expansion and modernisation project underway at the Sohar refinery. The money will be spent on equipment produced by Italian firms as part of the engineering procurement and construction contract.
PetroLogistics LP has announced that it and its general partner PetroLogistics GP LLC, have entered into a definitive agreement to be acquired by Flint Hills Resources, LLC, a subsidiary of Koch Industries Inc. Under the terms of the acquisition agreement, Flint Hills Resources will acquire all of PetroLogistics’ outstanding common units for US$ 14 per common unit in cash, except for those common units owned by Lindsay Goldberg LLC, York Capital Management, PetroLogistics’ Executive Chairman and its President and CEO, which will be acquired for US$ 12 per common unit in cash.
Edited from various sources by Claira Lloyd
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