Friday 22 August 2014
 
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Refineries

More refinery closures on the cards for 2014: IEA

An increase in new oil refining capacity and a rise in production of fuel not processed at refineries will lead to more plant closures in 2014, the International Energy Agency (IEA) said in its latest monthly report. Crude distill

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Refineries 'under pressure to cut operating costs'

Refineries in the Middle East are under enormous pressure to cut operating costs while maximising throughput and minimising inventories, a key official of a software and services firm said. According to AspenTech senior vice-presi

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Brent below $109 as hurricane shuts refineries

Brent crude oil fell below $109 a barrel on Monday as refineries along the US East Coast wound down operations ahead of the approach of Hurricane Sandy, reducing crude use in the world's largest oil consumer. The second-larges

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Iraq to privatise refineries to meet fuel demand

Iraq is looking to gradually privatise its oil refineries and to attract investment in new plants around the country to meet the fast rising domestic demand for fuel, its deputy oil minister said on Tuesday. Baghdad, which is boosting its

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Petroplus set to shut down refineries

Embattled oil refiner Petroplus yesterday said it will begin a temporary shutdown of three of its plants in January after lenders froze a $1 billion credit facility. The Swiss firm will suspend operations at its Petit Couronne refinery in

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Egypt to restore free zone status to refineries

Egypt's parliament has agreed to restore free zone status to oil refineries, newspapers reported on Wednesday, potentially removing a hurdle that had deterred foreign investment in the country's energy sector. Egypt's governmen

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Iran set to privatise all refineries

Iran plans to privatise all its refineries and petrochemical units, Oil Minister Massoud Mirkazemi was quoted as saying. It is seeking to speed up the sale of state assets to encourage private investment and boost the economy, which is und

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Iran explores arcane ways of gasoline making

Iran is exploring several untraditional ways to produce gasoline, including using petrochemical plants and natural gas liquids, to cope with any UN sanctions. It also plans to boost gasoline production by using petrochemical refineries, bu

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Sinopec to provide $6.5bn for Iran refineries

China's Sinopec has signed a tentative deal to provide financing of $6.5 billion for the construction and development of oil refineries in Iran, Iran's semi-official Mehr News Agency reported on Wednesday. Mehr, giving no source fo

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Iraq chooses Shaw to build refineries

Iraq’s Ministry of Oil has signed two contracts with US-based Shaw Group’s Energy and Chemicals Group to provide feasibility studies and front end engineering and design (FEED) for two grassroots refineries. The two refineries with a capac

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