Downstream news update: 17 July 2015

Saudi Arabia

Saudi Arabia is said to have become a major power when it comes to refined fuels. The nation is offering customers millions of bbls of diesel and refined products and it has been rumoured that the country could unintentionally start a price war with Asia. This is a follow on from the statement made by the country late last year when it said that it would not be lowering output in order to maintain its market share.

Turkey

A TUPRAS refinery in Izmir reportedly caught fire today. The fire started in a 160 ltr oil tank and is thought to have started due to a malfunction in the refinery’s electrical systems which caused an explosion. The fire was successfully extinguished by local fire fighters and technical staff from PETKIM.

Ukraine

Frontera Resources Corporation, USA has said that in partnership with Naftogaz, it is going to build an LNG terminal in Ukraine. The announcement was reportedly made by the Ukrainian Prime Minister as the nation looks to find alternatives to Russian gas. A memorandum of understanding has been signed between Frontera and Naftogaz.

USA

Residents of San Francisco Bay have been carrying out healing walks over the last few months. The walks are a tradition of Native Americans and in this instance are being utilised by people living near the five refineries on the 20 mile stretch of the San Francisco Bay area. The walks are also being used to connect neighbours who are opposing the expansion of oil storage terminals and rail transport at the facilities. Tesoro, Shell, Valero, Phillips 66 and Chevron own the refineries that are along the healing walk.

Vietnam

Idemitsu Kosan Co, Kuwait Petroleum International, Petrovietnam and Mitsui Chemicals Inc. are reported to be considering doubling the capacity the Nghi Son refinery which is scheduled to start operations in 2017. The expansion would be made as an oil supply shortage is forecast in the country along with growing oil demand domestically.

Yemen

Rebels in Yemen reportedly fired rockets at an oil refinery in Aden on 16 July. The rockets started a new fire at the facility which has been repeatedly under attack. Following this latest attack, residents local to the refinery were evacuated. The facility houses approximately 1.2 million t of crude oil and there are gas tanks.

Edited from various sources by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/17072015/downstream-news-update/