Downstream petrochemical news

Par Pacific paid US$45 million for the refining assets plus additional amounts for certain hydrocarbon and non-hydrocarbon inventory.

Engro Corp. has sold 24% and IFC has sold 5% shares in ETPL to Vopak LNG Holding B.V.

The LAB project is the first of the derivative units to be advanced under ADNOC’s AED165 billion Ruwais downstream investment programme.

Indian Oil Corp. has awarded McDermott the license and basic engineering design of two polypropylene plants.

The US CPRI rose by 0.2% in November, following a 0.5% decline in October and a 0.2% decline in September.

Following the open season on its Roanoke pipeline expansions, Kinder Morgan Southeast Terminal will receive a US$9 million investment.

The facility processing capacity has been expanded, with additional liquids handling and underground acid gas disposal.

The new technology is based on KBR’s catalytic olefins technology.

The company plans to upgrade capacity at the Sweeny Hub and invest US$923 million in refining operations.

The assets supply approximately 1000 customer sites in California with diesel, gasoline and DEF.