Downstream news update: 5 November 2014
Australia
Vitol is investing US$ 150 million in its Geelong plant. The firm, which bough Shell’s downstream business for US$ 2.9 billion three months ago, is progressing with a US$ 1 billion five year investment plan, which includes this upgrade.
Finland
Neste Oil Corp. plans to invest 500 million euros in a program designed to consolidate and optimize performance of its Finnish refineries as part of an effort to keep the company’s European operations competitive.
The company’s current plan is to closely integrate refinery operations at its 9.8 million tpy Porvoo and 3 million tpy Naantali refineries to achieve better operational and cost efficiencies.
According to the current optimization and integration program, Neste Oil plans to manage the two refineries as one system, with four production lines at Porvoo and a fifth at Naantali.
UK
The deal to sell the Murco refinery in Pembrokeshire has collapsed. Only approximately 60 jobs will remain from a workforce of hundred as the site will be converted into a storage and distribution facility.
The Klesch Group, which had agreed to buy the refinery and save jobs, has declined to comment on the collapse of the deal. Mr Crabb, MP for Pembrokeshire, has speculated that there were problems with financing at the last minute.
USA
Texas
Quantum Fuel Systems Technologies Worldwide, Inc. has announced that it has supplied Q-Lite storage tanks for use in Nat G CNG Solutions’ recently introduced CNG based Naistar spark ignited DT 466 vehicle application.
Quantum’s Q-Lite advanced fuel storage tanks and systems maximise a vehicle’s range allowing for reduced weight, increased natural gas capacity and performance.
Brian Olsen, President and CEO of Quantum, said: “We have partnered with Nat G on several vehicle programs, but this is the first opportunity to work together on a heavy duty vehicle platform and we are excited about this growing opportunity”.
Edited from various sources by Emma McAleavey.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/05112014/downstream-news-1568/
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