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Haldia Petrochemicals Ltd’s ₹28,700 crore-investment proposal received clearance from the Odisha government yesterday. The Indian downstream player proposed to establish an integrated refinery and petrochemicals facility in Balasore. A state government official revealed that the government will allocate land and consider fiscal concessions for the project. HPL’s proposed unit is estimated to produce 1.6 mtpa of paraxylene and 2.5 mtpa of PTA, and light naphtha and petrol.
US EPC firm, KBR, Inc. has been awarded a reimbursable contract by oil supermajor ExxonMobil for the recently announced crude expansion project. The contract requires KBR to provide detailed engineering, procurement, and construction (EPC) services for the offsites and interconnecting units. Farhan Mujib, KBR President, Hydrocarbons - Delivery Solutions said "KBR is proud to continue our relationship with ExxonMobil through our partnership on this project."
Energy giant Saudi Aramco and Chinese conglomerate Norinco have signed an agreement to form a joint venture. The intent of this JV is to develop a refining and petrochemical complex in Panjin city. The project is expected to be of more than $10 billion. A new company will be formed by Aramco, Norinco and Panjin Sincen named Huajin Aramco Petrochemical Co as a part of this project.
Oil prices dipped in the international market today after BHGE data showed a climb in rig count in the US. Benchmark Brent crude oil futures dropped 1.1% to $61.39 a barrel. US WTI crude futures dipped 1.5%, to $51.92 per barrel. BHGE data released on Friday showed rig count in the US reaching to 854. Fire in Phillips 66’s Wood River refinery yesterday weighed down on WTI prices as well.
Chevron has eyed on the Petrobras’ 110,000 bpd refinery in Pasadena. Chevron is ready to pay $350 million to Petrobras for the same. Further, the company also wants to take the ownership of a 466-acre complex on the Houston Ship Channel. This is in line with the Chevron’s plan to own a second Gulf Coast facility after reporting an increase of 150,000-bpd in its shale production in the third quarter.
As part of the proposed $10 billion investment, Saudi Arabia is looking to build an oil refinery and a petrochemicals plant in South Africa. Following a meeting in South Africa, Saudi Energy Minister yesterday said that Saudi Aramco will see to the construction of the planned refinery, which will utilize Saudi oil. Saudi Arabia is also looking to invest in South Africa’s oil storage facilities and its state defence company.
A cabinet committee yesterday gave its nod to the expansion project for NRL’s Assam Refinery. The proposed expansion plan will boost the capacity to 9 MMTPA from 3 MMTPA. The project is expected to incur a capital investment of Rs 22,594 crore, and is slated for completion in 48 months. The plan also includes setting up crude oil pipeline from Paradip to Numaligarh and product pipeline from Numaligarh to Siliguri.
Concluding the startup procedure that begun in December at its Geismar facility, Shell Chemical LP started production of the fourth alpha olefins (AO) unit. Total AO production at Geismar has increased to more than 1.3 million tpa, post the 425,000-tpa capacity expansion. The addition of new AO unit at Geismar has demonstrated the tactical value of its integrated downstream division.
Spanish engineering firm, Tecnicas Reunidas has secured an engineering design contract for ADNOC and Cespa’s joint project in Ruwais. The linear alkylbenzene (LAB) plant will also be the first derivative unit developed under the $45 billion-Ruwais downstream investment programme. An ADNOC statement read that the plant will manufacture 225,000 tonnes of normal paraffins per year and 150,000 tonnes of linear alkyl benzene per year.
Croatia’s multinational energy firm INA has announced that its largest refinery will undergo a planned maintenance from January to mid-April 2019. The plant, which is located in the northern Adriatic port of Rijeka, has a capacity of 100,000 barrels per day (bpd). INA also owns a 60,000 bpd- refinery in Sisak.
As reported by Reuters, Saudi Aramco and ADNOC’s prominent $50 billion refinery and petrochemical project in India has been delayed by two years. The proposed coastal refinery with 1.2 mbpd processing capacity will be built by RRPL, a JV between state-owned firms and Saudi Aramco and ADNOC. The project is scheduled for commission in 2023.
Indonesian state-owned Pertamina has signed up SK E&C and Hyundai E&C for the $4 billion Balikpapan refinery upgrade project. In the same media briefing, the state oil major also entered into a framework agreement with Oman’s Overseas Oil and Gas LLC (OOG) for the development of a $10 billion refinery and petrochemical complex in Bontang.
Technology giant, Honeywell informed that Azerbaijani state-owned SOCAR will deploy Honeywell UOP’s Pressure Swing Adsorption (PSA) technology at its Heydar Aliyev Oil Refinery (HAOR). Honeywell’s technology will enable Azerbaijan to meet the rising demand for Euro V standard transportation fuels. As part of modernising the HAOR plant, HoneywellUOP will supply two PSA units, controlled by Honeywell Process Solutions C300 distributed control systems.
China’s Caixin yesterday reported about the revival of a decade-old mega project between CNPC and Venezuelan state-owned PDVSA. The financial publication said that the CNPC-PDVSA JV refinery and chemical project will most likely commence operations in 2021. The $9.53 billion-refinery with a processing capacity of 400,000 barrels-per-day will be built in Jieyang, China. The project will incur 60% investment from CNPC, while PDVSA will contribute to the remaining 40%.
French supermajor Total has announced the restart of its Gonfreville refinery in France’s Normandy region. Operations at the 253,000 barrel-per-day refinery were disrupted due to a week-long strike that affected output and deliveries. The CGT union of France put off the on-going strike on Thursday evening. A Total spokeswoman confirmed the news, stating that the deliveries had resumed on Friday.
Exxon’s Rotterdam refinery will undergo several key developments to meet the stringent quality standards in base stocks manufacturing. The upgrade will be the final step in support of the full stream production in 2019. The developments will include new lab facilities with state-of-the-art equipment, implementation of ExxonMobil’s proprietary Global BPIMS, and so on. The improvements are in line with ExxonMobil’s pledge towards product integrity and reliability at the Rotterdam refinery.
If sources were to be believed, state-owned refiner, MRPL has inked a term deal with Iraq’s State Organization for Marketing of Oil (SOMO) to buy 1.5 million tonnes of Basra oil in 2019. MRPL, which runs a 300,000 barrel-per-day refinery in India, is seeking to diversify its crude imports. MRPL didn’t comment on the matter.
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.