Tag: refineries

In BIMCO's latest weekly update, the Association examines the production growth of Chinese refineries and the reasons behind it.

Earlier this week, Sinopec confirmed its plans to invest in fuel to meet Sri Lanka's energy needs during a meeting with Sri Lanka's President. They also expressed their willingness to fully fund the construction of a refinery in Hambantota, which the government has designated as a central energy hub.

Petroperú company stated in a press conference with members of the Association of Foreign Press in Peru that it has all of the necessary permits for the gradual and progressive start-up period, between March and May, of the new Talara Refinery. 

Air pollution monitors at the fencelines of U.S. oil refineries found that nearly half of them last year were releasing benzene at levels that could pose a long-term health threat to surrounding communities, according to industry data compiled by the Environmental Integrity Project (EIP).

Korean Hyundai Heavy Industries (HHI) Group officially informed that successfully completed the sale of a 17% stake in oil refiner Hyundai Oilbank to Saudi Aramco. Specifically, Saudi Aramco purchased about $1.2 billion to buy the oil refiner, as the deal was first unveiled several months ago before the final decision.

Norway is playing an active role in the oil sector as more Norwegian oil from Johan Sverdrup is arriving in Asia, being a challenge to similar crudes coming from Africa and South America. If Johan Sverdrup continues attracting refiners, there is a high possibility that it will jeopardise exports of its rival grades to the world’s top crude-consuming region. 

State authorities of the Contra Costa County closed the NuStar Energy facility after its tanks caught fire, followed by investigations to determine how the fire commenced and to determine when the operations can continue safely. 

Over the next 5 years, the global refinery landscape will continue developing, with the IEA forecasting the addition of over 9 million b/d of new capacity; almost twice the level of refined products demand growth over the same period.

According to New York Times, India increased the cost estimate of a refinery and petrochemical project, that will be jointly constructed by Saudi Aramco and Abu Dhabi National Oil Co, by more than 36%, following farmers' protests on relocating the plant. The project is to be commissioned in 2025. 

SKTI informed that it will increase its offshore oil blending business by four times, reaching from the current 23,000 barrels a day, to 90,000 barrels next year. The company charters a large oil tanker and adds semi-finished products to produce LSFO. What is more, SKTI also plans to retrofit scrubbers on 19 ships.