The Indian Oil Corporation Ltd (IOCL) has announced that it hopes to commission a 15 million tpy refinery by the middle of 2012. The refinery is going to be built in Paradip and is expected to cost approximately Rs 25 000 crore.
Hindustan Petroleum Corporation is awaiting for land clearances before it begins constructing the 15 million tpy planned refinery in Ratnagiri. The facility will cover 3000 acres of land in the Lote-Parshuram industrial zone.
There are plans for a deep oil refining complex to be added to the Atyrau oil refinery. The plant is expected to process 2.4 million tpy of raw materials in to Euro 4 and 5 standard products as well as light oil products. The plant is expected to curb the country’s need to import high quality gasoline.
The Kuwaiti government has revived plans for the construction of a US$ 14.5 billion refining project and is now looking for investors. The planned facility will have a processing capacity of 615 000 bpd and will also benefit from the 30.8 billion dinar that is planned for infrastructure improvements in the country. Once complete this will be Kuwait’s biggest refinery.
A participation agreement is going to be imminently signed by the Pak Arab Refinery Company for the construction of the Khalifa Coastal refinery project. The facility will have a processing capacity of 250 000 bpd and cost US$ 6 billion. The plant will be built in Balochistan.
Gazprom and Sibur have signed an agreement to construct refineries and increase the country’s gas processing capacity. These plants will run in conjunction with the Kovykta field.
Alon Energy has announced that it has completed the hydrocracker project at the Bakersfield refinery. The unit located at the California refinery is now in complete operation.
PDVSA has been granted a US$ 1.5 billion loan from a conglomerate of Japanese banks for the expansion of two refineries. The loan has a 15 year term and is repayable by cash or oil. The El Palito and Puerto La Cruz refineries will benefit from the loan.
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