Global refining and petrochemicals news: 10 November 2014

Bahrain

Gulf Petrochemicals Industries Company (GPIC) has said that it is going to develop business ties with Chinese companies. The company has decided to do so as China has become a very attractive market destination for investment with regards to petrochemicals, as well as industry as a whole.

China

PetroChina-Rosneft Orient Petrochemical Company has announced plans to begin a feasibility study for the construction of the Tianjin refinery. The joint venture company is a partnership between Roseneft of Russia and Chinese National Petroleum Corporation (CNPC). Members of the board of the joint venture company have settled on a 16 million tpy facility for the Tianjin region in the hope of optimising the refining sector in the region. The plant will also have an aromatic hydrocarbons package with the ability to process 1.4 million tpy of paraxylene. It has been reported that startup of the plant has been scheduled for the end of 2019.

Ghana

The Tema Oil Refinery (TOR) which has been troubled for a long while has once again come in to the spotlight as the refinery’s junior staff chairman has been reported as saying that the refinery has the ability to process any crude from around the world. However, the plant is still in financial trouble as it struggles to get credit. The Bank of Ghana has refused the plant dollars, and as it does not have a letter of credit with the domestic bank, it cannot get credit elsewhere in the world.

USA

Construction of the MDU Resources Group Inc. and Calumet Speciality Products Partners refinery near Dickinson is now coming to a close. The refinery is expected to begin producing fuel in December. Construction of the US$ 350 million Dakota Prairie refinery began in March last year and is expected to process 20 000 bpd of crude into 7000 bbls of fuel. The refinery is going to employ 90 people full time and is taking feedstock from North Dakota.

Alon US Energy Inc. has reportedly said that it may not restart the Bakersfield refinery and is looking into the possibility of opening an oil by train facility at the plant in 2015. The restart of the facility all rests on the financial figures that will need to be reportedly ‘compelling’ for Alon to consider a restart. The refinery was an employer of 200 people and had a processing capacity of 70 000 bpd.

Edited from various sources by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/10112014/refining-petchem-10-nov-news/