Sinopec is still deciding whether to construct a new refinery in Zhanjiang in partnership with Kuwait Petroleum Corp and Total or on its own. The proposed refinery will require an investment of US$ 9 billion. Kuwait Petroleum Corp. did sign a memorandum of understanding to be part of this 300 000 bpd refinery project in 2009. If they are confirmed as partners this plant will be one of China’s biggest foreign investments in the last 6 years.
Nagarjuna Oil Refinery Ltd has decided to push back the startup date of its new refinery. The 120 000 bpd plant will now be online between the end of 2013 and the start of 2014. There are also plans to expand the facility in early 2016.
Soil testing has been carried out by specialist scientists at the proposed location of HPCL’s new refinery near Barmer. The refinery is going to be built to process oil produced in the Barmer area as at present, the oil is being sent to Jamnagar, Gujarat via Cairn India’s Mangala terminal.
OSO Group is going to build a refinery with Azerbaijani Republic through a partnership that will be formalised by the end of November. The companies will invest US$ 4.8 billion in the refinery which is predicted to have a processing capacity of 600 000 bpd and be online in 2017. The plant is going to be built in OSO’s section of Bantam Island’s free trade zone.
Written by Claira Lloyd.