Ecopetrol has said that completion of modernisation works at its Cartagena refinery will result in a boost in earnings in 2015. The company’s stock has been performing poorly over the last six months due to being heavily impacted by oil’s price plunge. Ecopetrol has reported the completion of work at 25 of the 31 units at the facility and full operation is schedule for August 2015.
On December 1 it was reported that protestors in Mexico had blocked the Pemex refinery in the south of the country. However, it was also reported that protestors had not entered the facility in Oaxaca state.
Despite calls from local Contra Costa County residents reporting a fire at the Phillips 66 refinery, no fire has been reported by the refinery itself. It is being said that the bright light seen by residents was a glow from sodium lights shining through a steam plume.
Viru Keemia Grupp (VKG) has announced that it is going to shutdown two of its Kiviter refineries. The company is doing so due to the sharp drop in global oil prices and the high price of shale oil that it purchases from Esti Energia. Approximately 200 employees are going to be impacted by this decision but not all will be losing jobs VKG has said.
It was reported on Tuesday December 2 that a 72 hour strike at the Total Gonfreville refinery had resulted in production disruptions. Due to the action at the facility in northern France, the production of base oils was halted and diesel output was reduced by 10%.
Tupras is aiming to have all units that are being worked on as part of the upgrade to its Izmit refinery online by the start of 2015. Tupras is spending US$3 billion on the project which commenced in 2011 and is expected to boost the conversion capacity at the refinery to 11 million tpy and enable it to process heavier crudes.
H2 Energy has announced plans for £50 million worth of biorefineries to be built in Liverpool, England. The deal has been created with 2 Sisters and is expected to create approximately 150 jobs.
Edited from various sources by Claira Lloyd
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