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Refinery major, HPCL is looking to borrow ₹8k crore to carry out its expansion plans. HPCL Chairman, MK Surana said that the proposed plan of raising Rs 12,000 crore in debt has been approved by shareholders. While HPCL is yet to decide upon the time or size of borrowings, it is clear that the fundraising does not involve borrowing plans of subsidiaries.
Oil guzzler, Indian Oil Corp. has said that it will assess the effects of US sanctions on the proposed Iranian investment in the CPCL expansion project. IOCL plans to pull down the Nagapattinam refinery and build a new refinery of 9 million tonnes unit in the upcoming five to six years. While the previously made investments by NIOC will not draw any impact, NIOC’s new investments will remain under scrutiny.
If sources were to be believed, RIL head, Mukesh Ambani is mulling plans of boosting the capacity of the world’s largest refinery complex in Jamnagar. If the proposition goes through, Jamnagar refinery will see an addition of new plant with crude processing capacity of 30 million tpa. RIL is fortifying its place in India where energy demand, according to IEA, is expected to more than double by 2040.
Australian oil firm, Woodside has named Bechtel as the execution contractor for the Pluto LNG facility expansion project. Woodside is looking forward to the brownfield expansion of the Pluto LNG facility. This will include the large undeveloped gas resource from the Scarborough gas field. Woodside and Bechtel worked closely on the preparation of the contract for the FEED phase of the train 2, including finalising the concept and costs.
UK-based INEOS is planning on increasing the capacity of its Mobile, Alabama (US) facility. The Mobile facility will see an overall capacity expansion up to 850,000 tpa, making it the largest phenol production unit in the world. The British firm is the largest manufacturer of Phenol and Acetone in the world. It is also the only Phenol and Acetone producer with production facilities spanning across Europe and America.
The newly commissioned Propane Dehydrogenation (PDH) unit at the Ruwais facility of ADNOC Refining has achieved full production of polymer-grade propylene. ADNOC Refining CEO regarded the PDH unit as a key element of ADNOC Refining’s expansion strategy, enabling maximum value for ADNOC’s downstream productions. The PDH unit processes propane to generate half a million tons per year of polymer-grade propylene.
Oklahoma-based Magellan Midstream Partners has revealed plans to extend the western leg of its Texas refined petroleum products pipeline system. The capacity of the pipeline is expected to extend upto 175,000 bpd. The midstream giant is looking to handle increased shipments of gasoline and diesel fuel to demand centers. The extended pipeline is projected to be available in mid-2020.
Oil supermajor, Saudi Aramco has granted Turkish construction firm, Tekfen with a construction contract for the Haradh Gas Plant. Tekfen will carry out the construction of satellite gas compression plants pipelines, which is a part of the expansion project currently underway for the Haradh Plant. Total daily gas production will climb by more than one billion standard cubic feet. The deal has been closed in $590 million and will be expected for completion in 33 months.