Sunday, October 4, 2009

Upcoming & ongoing Refinery projects

1. The Hindustan Petroleum Corp Ltd and its partners, including Total S A of France, will decide in April/May 2009 on setting up a 14-15 million tonnes oil refinery cum petrochemical project at Visakhapatnam in Andhra Pradesh.
Besides HPCL and Total, other partners in the project that may cost $US10 billion are gas utility GAIL India Ltd, Oil India Ltd and Mittal Energy Investments Pte Ltd. Mittal has already put on hold investing in the project, due to the global financial woes.

2. Mangalore Refinery and Petrochemicals Ltd (MRPL) has stated that mechanical completion of its capacity enhancement project's third phase at its refinery will be delayed till Oct 2011 from Jun 2010. The estimated cost of the project has gone up to Rs12,412 crore from Rs7,943 crore. The company has been affected by overheated market, which has adversely affected appointment of process licensors, delay in land acquisitions and rise in steel and cement prices since 2007.

3. BPCL-Kochi Refinery Ltd intends to set up refinery bottoms upgrading facilities at Kochi with an investment of Rs8,000 crore. BPCL currently has Bina Refinery in MP which is a JV Bharat Oman Resources Ltd. (BORL). Cost-Around Rs. 10,300 crore and will end at dec.2009. Both the refineries after their completion will lead to the production of 30 MMTPA.

4. IOCL is to start construction on Paradip refinery in Orissa by April 2009. It will be commissioned by 2011-12. Capacity-15MMTPA, Cost-Rs25,000 crore.

5. Guru Gobind Singh Refinery at Bhatinda in Punjab, promoted by HPCL-Mittal Energy at a cost of Rs18,900 crore, will be commissioned by Mar 2011. While Hindustan Petroleum Corporation Ltd (HPCL) and Mittal Energy Ltd hold 49 percent stake each in the project, the financial institutions hold the remaining stake.

6. ONGC has exited the Rs. 25,600 crore Kakinada Refinery project and is replaced by GMR group which will held 51% stake in the project. After completion it will produce 15MMTPA of refined products.

7. IOC is planning to expand its Panipat refinery from 3MMTPA to 15MMTPA in 2009. Also it is planning to commission a Hydrocracker project at Haldia this year.

8. Partners Irving Oil and BP plan to extend the construction period on their planned 300,000 b/d Eider Rock refinery in Nova Scotia, eastern Canada, from four to as many as eight years, Irving says. The slowdown of the $8bn project comes as global refining capacity appears set to exceed demand for the next few years. Construction at Eider Rock is still planned to begin in 2011.

9. Saudi Aramco is deferring construction bids for its 2 refineries(400,000 b/d) at Yanbu and Jubail to first half of2009. Saudi Aramco is working with a JV with Conoco Philips and Total SA of France. They are aiming to cut project costs that are estimated to have risen $12 billion for each refinery. They are planned to start production by 2013. Aramco's 400,000 b/d expansion at the 550,000 b/d Ras Tanura refinery is on course for completion in 2013.Yanbu is the first major project in the Saudi oil sector to be officially delayed due to the global financial crisis and economic slowdown, but Aramco and Conoco insist they remain committed to the 400,000 b/d venture.
10.The completion date for Qatari state-owned QP's 250,000 b/d al-Shaheen refinery has been put back by two years to 2012 because of delays in bidding for contracts. Finance difficulties and expectations of falling costs are prompting Oman to delay its $12bn, 200,000-300,000 b/d Duqm refinery-petrochemical complex. Construction is expected to take five years, although no start-up date has been set.

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