EMEA downstream news: 18 December 2014

Angola

Sonangol is to receive a credit line worth US$2 billion from the Chinese Development bank to help finance new projects. Angola is the second largest supplier of oil to China contributing approximately 40% of the oil demanded by the country. It has been reported that the money will be used to expand Sonangol’s oil and gas operations.

Egypt

Sidi Krir Petrochemicals Company (SIDPEC) has successfully obtained ISO 5001 certification. SIDPEC is the first Egyptian company to achieve the certificate for industrial energy consumption management.

France

At the end of last week, workers at the ExxonMobil owned Port Jerome refinery carried out strike action. The action reportedly lasted from Thursday 11 December until Saturday 13 December and had minimal impact on operations at the 240 000 bpd facility. The strike action is being carried out, and further organised over salary and working conditions.

Iran

It has been reported that Iran is to commence exporting petrochemical products to Europe. The Jam Petrochemical Company is to ship 2000 t of low density polyethylene to Belgium this week at a value of US$2 million.

Nigeria

Following announcements earlier this year, Aliko Dangote has said that he is going to increase his investment in the construction of an oil refinery, petrochemical plant and fertiliser plant in Nigeria. The businessman is now looking to spend US$11 billion on the project which will help Nigeria drop import volumes and increase domestic exports.

Russia

Oversized equipment has been delivered from Monza, Italy to Tyumen in Russia by JSC Sovfraht. The cargo of stripping gas liquid ring compressors weighed 150 t and was in 13 units. Loading reportedly lasted two days and customers clearance took 24 hours.

Saudi Arabia

Samref has announced the completion of desulfurisation facilities in Saudi Arabia. This project was a joint venture with ExxonMobil and included a new hydrotreater which will cut sulfur levels in gasoline and diesel. This is the largest investment ever made by the company and completion falls in the same year as Samref’s 30 year celebrations.

Turkey

TUPRAS has opened a fuel oil recycling facility in Izmit. The US$3 billion facility will help the TUPRAS refinery perform at maximum capacity and produce higher value products. The project is also expected to reduce the budget deficit in the country by US$1 billion.

Sources:Egypt Independent, This Day Live, The Guardian News, PressTV, Trade Arabia, Daily Sabah, Reuters, Port News.

Edited from various sources by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/18122014/emea-downstream-news-18-dec/