tag:blogger.com,1999:blog-46600242346554941562024-03-14T09:28:44.201-07:00This Week in RefiningA weekly update of the refining businessUnknownnoreply@blogger.comBlogger86125tag:blogger.com,1999:blog-4660024234655494156.post-36534123060665656782024-03-14T09:27:00.000-07:002024-03-14T09:27:45.975-07:00KBR Awarded Project Management Contract for Sonangol’s New Lobito Refinery ProjectKBR announced today it has been awarded a project management contract by Sonangol for the design and construction of a new 200,000bpd <a href="https://www.abarrelfull.co.uk/Lobito_Refinery_Project">refinery in Lobito</a>, Angola. <br /><br />Under the terms of the contract, KBR will provide services encompassing the project management of engineering, procurement and construction phase execution. The Lobito Refinery Project is one of the most significant energy infrastructure projects in the region and will contribute to Angola’s energy independence. The project will also contribute to significant job creation and economic development of this region. Upon completing the Lobito Refinery Project, Angola is expected to have a 200% increase in the capacity to produce fuel products within the country in an efficient and sustainably improved approach.<br /><br />This award further extends the more than twenty-year long partnership between KBR and Sonangol in the development of essential natural resources in Angola. KBR completed the FEED phase of the project earlier in 2023, providing a cost competitive design that met Sonangol’s business objectives while meeting the advanced emission standards required in the industry. In line with our strategy in energy transition to provide more environmentally friendly solutions, KBR’s FEED design also meets 2030 African and European Product Specifications with river water consumption and waste-water treatment requirements reduced by 30% as a result of KBR’s innovation in the refinery’s cooling system design.<br /><br />“We are excited to be a part of this important project and to continue to grow and maintain a substantial presence in the region,” said Jay Ibrahim, President, Sustainable Technology Solutions. “This win is indicative of KBR’s strategic commitment to offer differentiated technical services that support Angola’s sustainable development goals.”<br /><br />For more than 100 years, KBR has provided holistic and value-added solutions across the entire asset life cycle. Our leading experts have helped design and deliver world-class refinery and petrochemical plants across the globe. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-59621139602839485612024-03-06T07:44:00.000-08:002024-03-06T07:44:21.939-08:00bp wants to reposition its refinery in Gelsenkirchen for the future<p>With its strategy for the German market, bp also wants to drive forward its transformation into an integrated energy company. The <a href="https://www.abarrelfull.co.uk/Gelsenkirchen_Refinery">refinery in Gelsenkirchen</a> is an important component of this project. By the end of the decade, bp plans to gradually renovate the site so that it can follow the path of the energy transition and exploit its potential.<br /><br /><i>Currently, our refinery site in Gelsenkirchen is not competitive. We are too complex and – not only because of this – burdened with structurally too high costs. In order to be able to take advantage of the opportunities that arise for our location from the energy transition, we have to change today. We want to give Gelsenkirchen a perspective and greater potential for its contributions to the energy transition.</i></p><p>Arno Appel, head of the refinery in Gelsenkirchen<br /><br /> <br />Refinery: Perspectives through Change and Adaptation<br /></p><ul style="text-align: left;"><li> In order to make the refineries fit for the future, it is necessary to massively reduce the complexity of the site and to shut down plant components for which capacity utilization is expected to decline in the future – with petrochemical production remaining a core area.</li><li>For this reason, as a first step, five plants at the Horst and Scholven plants are to be decommissioned as planned from 2025. This could lead to a planned and controlled reduction of the total production capacity – currently around twelve million tonnes of crude oil per year – to around eight million tonnes at the site.</li><li>With these measures, the site could also reduce its Scope 1 emissions by up to one half a million tons of CO2 per year.</li><li>In addition, subject to appropriate approvals, bp plans to enable the production of lower-emission fuels through co-processing at the hydrocracker plant at the Gelsenkirchen-Scholven site, in order to produce, among other things, more sustainable aviation fuels (SAF).1</li><li>Another perspective for future steps towards the production of more sustainable products is the possibility of establishing a circular economy network at the refinery for its petrochemical plants together with a partner. Only recently, the city council of Gelsenkirchen created the basic prerequisite for this by adapting the development plan accordingly.</li></ul>The planned focus of the refinery on the future will also have an impact on the organization of work on site. Arno Appel says: "The tasks on site will change in the course of our transformation. We are determined to take as many colleagues as possible with us on this journey. However, it is also true that there will be fewer jobs overall in the refinery of the future in the future. In order to make this change as fair and socially acceptable as possible, we want to start negotiations with the employee representatives as soon as possible."<br /><br /><b>About the Gelsenkirchen location:</b><br />With around 2,000 employees and 160 trainees, bp operates the two plants in Horst and Scholven in Gelsenkirchen as an integrated refinery and petrochemical site. The processing capacity is about twelve million tons of crude oil per year. In addition to gasoline, diesel, jet fuel and heating oil, this results in more than 50 different products, primarily for the chemical industry. In addition to its great importance for the domestic fuel and energy supply, the Gelsenkirchen site also plays an important role in the North Rhine-Westphalia Chemical<span style="background-color: white; color: #666666; font-family: Roboto, sans-serif; font-size: 14px; letter-spacing: -0.1px;"> Network.</span><p></p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-14033231788343632902024-02-15T01:46:00.000-08:002024-02-15T01:46:02.589-08:00Members of the Moratti family enter into an agreement to sell approx. 35% of Saras to Vitol<br /><br /> Massimo Moratti S.a.p.A. di Massimo Moratti, Angel Capital Management S.p.A. (“ACM”), and Stella Holding S.p.A. (collectively the “Moratti family”) and Vitol B.V., a company based in The Netherlands (or a wholly-controlled entity designated by Vitol), (“Vitol”) have entered into a sale and purchase agreement (the “SPA”) pursuant to which the Moratti family has undertaken to sell to Vitol, shares of <a href="https://www.abarrelfull.co.uk/Sarroch_Refinery">Saras S.p.A. (“Saras”)</a> representing approx. 35% of Saras’s corporate capital (the “Transaction”), at a price per share equal to €1.75/share (the “Price per Share”).<br /><br />Under the SPA and subject to fulfilment of certain circumstances set forth therein, ACM has undertaken to sell to Vitol the shares of Saras (if any) that ACM may be entitled to receive under the existing funded collar derivative contract, covering approx. 5% of Saras’s corporate capital.<br /><br />If a dividend distribution is resolved and paid by Saras before the closing date of the Transaction, the Price per Share will be reduced accordingly.<br /><br />Completion of the Transaction is exclusively subject to obtaining the required regulatory approvals (i.e., the clearances under the EU foreign subsidies regulation, the EU antitrust regulation and the Golden Power framework).<br /><br />Upon the closing, the entire stake owned by the Moratti family in Saras will be transferred to Vitol. This will trigger a mandatory tender offer for the outstanding share capital of Saras, which will be launched by Vitol at the same Price per Share (i.e., €1.75/share), as may be adjusted in case of dividend distribution occurring before closing of the Transaction. The goal of the MTO is to achieve a delisting from the Milan Stock Exchange, which may also be achieved through delisting merger should the required conditions be met.<br /><br />The price of €1.75/share values the equity of Saras at approximately €1.7 billion and represents a premium of:<div><ul style="text-align: left;"><li>10% to the unaffected share price</li><li>7% to the unaffected one-month volume-weighted average share price</li><li>12% to the unaffected three-month volume-weighted average share price</li><li>21% to the unaffected six-month volume-weighted average share price</li><li>30% to the unaffected twelve-month volume-weighted average share price</li></ul><br />Unaffected price refers to the closing market price as of February 6, 2024 (i.e., the date before the Bloomberg press notice referring to a potential sale by the Moratti family).<br /><br />Saras is a leading industrial and energy company based in Italy. Its assets include the largest single-site refinery in the Mediterranean. Strategically located on an industrial site in Sardinia, the 300kb/d refinery supplies oil products to Italy and the rest of Europe, while its fully-integrated power generation plant, one of the largest of its kind, has an installed capacity of 575MW and supplies over 40% of Sardinia’s power. In addition, Saras has a significant renewables portfolio comprising 171MW of operational wind assets and a pipeline of 593MW and 79MW of wind and solar projects respectively.<br /><br />Vitol has a long history of investing in energy infrastructure around the world, from oil production and refineries to renewables and carbon capture. This Transaction presents an opportunity for Vitol to invest in a high-quality asset, well placed to serve both Italy’s and Europe’s current and future energy needs.<br /><br />Massimo Moratti, Chairman and CEO, Saras said: “62 years after my father founded it, together with my nephews Angelo and Gabriele and my sons Angelomario and Giovanni, I believe that the best assurance for the future success of the Sarroch refinery is the aggregation with a leading player in the global energy sector, such as Vitol, with relational, managerial and financial resources, needed to compete in the current international market environment.<br /><br />“Therefore, I believe that this transaction will be beneficial for all shareholders, the employees and the customers, as well as all other stakeholders whom I thank for the trust they have always placed in us.<br /><br />“Today Saras is a solid and profitable company, leader in the entire Mediterranean basin, and we wish Vitol to be able to expand the successes achieved so far.”<br /><br />Russell Hardy, CEO, Vitol said: “Our ambition is to invest in a strong Italian energy company, run by an empowered local management team and supported by Vitol’s expertise and market reach. We appreciate the significance of Saras within Sardinia, and the country more broadly, and are committed to continuing the Moratti family’s legacy of diligent stewardship, safe operations and support for the local community and employees. Saras’s business is highly complementary to Vitol’s core operations and this transaction will strengthen European energy security and enhance supply for a key European energy asset.”<br /><br />On completion, Vitol will be invested in over 800kb/d of refining capacity across seven refineries, 4GW of thermal power generation and over 1.4GW of renewable generation.<br /><br />The Moratti family is advised by BofA Securities and Four Partners Advisory as financial advisors and Linklaters as legal advisor. Vitol is advised by J.P. Morgan as sole financial advisor and by Chiomenti and Weil, Gotshal & Manges as legal advisors.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-27394432062068241282024-01-29T05:29:00.000-08:002024-01-29T05:29:27.696-08:00Eni moves ahead with conversion of the Livorno refinery into a bio-refineryToday, Eni confirms its decision to build Italy's third bio-refinery in <a href="https://www.abarrelfull.co.uk/Leghorn_Livorno_Refinery">Livorno</a>. The project, first announced in October 2022 and followed by an application for Environmental Impact Assessment (EIA) in November 2022, is awaiting official authorisations and includes the construction of three new facilities for the production of hydrogenated biofuels: a biogenic feedstock pre-treatment unit; a 500,000 tonnes/year Ecofining™ plant; and a facility to produce hydrogen from methane gas.<br /><br />The conversion of the Livorno industrial site, following other successful conversions in Porto Marghera (2014) and Gela (2019), confirms Eni's decarbonization strategy, which aims to achieve carbon neutrality by 2050 and increase bio-refining capacity from the current 1.65 million tonnes/year to over 5 million tonnes/year by 2030.<br /><br />In line with the strategic decision to convert the Livorno refinery, future-proofing the site in terms of production and employment, Eni has stopped importing crude oil and initiated the shutdown of the lubricants production lines and Topping plant. Fuel distribution in the area will be guaranteed through the import of finished and semi-finished products.<br /><br />Preparatory work for the construction of the three new bio-refining plants is underway, with construction to commence following regulatory approval. Completion and commissioning are expected by 2026.<br /><br />The plants will process various biogenic feedstocks, mainly vegetable waste and residue, to produce HVO diesel, HVO naphtha and bio-LPG. Eni, through Enilive, is the second-largest producer of hydrogenated biofuels (HVO) in Europe and the third-largest in the world. <br /><br />Eni’s growth strategy is driven by the increasing demand in Europe and Italy for biofuels in the mobility sector, both to meet the emission reduction targets set out in the recently approved RED III (Renewable Energy Directive) and to comply with Italian legislation requiring the introduction of pure biofuels. Forecasts predict a 65% increase in demand for hydrogenated biofuels globally between 2024 and 2028.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-79201575400542869262024-01-26T05:33:00.000-08:002024-01-26T05:33:48.754-08:00Shell invests to repurpose German Energy and Chemicals Park RheinlandShell Deutschland GmbH has taken a final investment decision (FID) to convert the hydrocracker of the <a href="https://www.abarrelfull.co.uk/Rheinland_Werk_Godorf_Cologne_Refinery">Wesseling site at the Energy and Chemicals Park Rheinland</a> into a production unit for Group III base oils, used in making high-quality lubricants such as engine and transmission oils. Crude oil processing will end at the Wesseling site by 2025 but will continue at the Godorf site.<br /><br /><br />Huibert Vigeveno, Shell’s Downstream and Renewables Director, said: “The repurposing of this European refinery is a significant step towards serving our growing lubricant customer base with premium base oils. This investment is part of Shell’s drive to create more value with less emissions.”<br /><br />The high degree of electrification of the base oil plant, as well as the ceasing of crude oil processing into fuels at the Wesseling site, is expected to reduce Shell’s scope 1 and 2 carbon emissions (those which come directly from our operations and those from the energy we buy to run our operations) by around 620,000 tonnes a year. Shell’s target is to become a net-zero emissions energy business by 2050.<br /><br />The new base oil plant is expected to start operations in the second half of this decade. It will have a production capacity of around 300,000 tonnes a year, equivalent to about 9% of current EU demand and 40% of Germany’s demand for base oils.<div><br />Notes to editors:<div><ul style="text-align: left;"><li>This investment, financed by Shell’s Chemicals and Products business, meets the minimum acceptable internal rate of return set out at our Capital Markets Day in 2023.</li><li>A hydrocracker converts heavy, low-quality hydrocarbons into lighter, high-quality products, such as fuels (gasoline, jet fuel, diesel), chemicals feedstocks, and base oil feedstocks. This is achieved through a high-pressure, high temperature reaction between the hydrocarbons and hydrogen, in the presence of a catalyst.</li><li>Group III base oils are mineral base oils with very high viscosity index, produced by hydrocracking technology. The market for high-quality engine and transmission oils, as well as e-fluids and cooling fluids, some of which are made from these base oils, is expected to grow.</li><li>Shell has already driven forward the transformation of the Energy and Chemicals Park Rheinland with investments in a 10-megawatt electrolyser to produce renewable hydrogen and a biomethane liquefaction plant.</li><li>Shell’s Energy and Chemicals Park Rheinland is located near Cologne and is comprised of two sites: Wesseling and Godorf. It currently has capacity to process over 17 million tonnes of crude oil a year, of which 7.5 million tonnes are processed at the Wesseling site.</li><li>Despite ceasing crude oil processing at the Wesseling site, fuel supplies for the German market are expected to remain stable and secure. </li></ul></div></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-46889256166904174692024-01-23T08:53:00.000-08:002024-01-23T08:53:47.553-08:00Topsoe Selected As Technology Provider For Preem’s Renewable Fuels Plant In SwedenTopsoe, a global technology and solutions provider for the energy transition, has signed a licensing and engineering agreement with Preem, Sweden’s largest fuel company, to produce Sustainable Aviation Fuel (SAF) and renewable diesel, using Topsoe’s HydroFlex™ technology.<br /><br />The demand for SAF is rapidly growing. According to the International Energy Agency’s Net Zero Scenario, over 10% of fuel consumption in aviation by 2030 needs to be SAF to stay on course for net zero CO2 emissions by 2050. In 2022, the International Air Transport Association estimated global SAF production to make up only around 0.1% to 0.15% of total jet fuel demand.<br /><br />At Preem’s <a href="https://www.abarrelfull.co.uk/Preemraff_Lysekil_Refinery">lysekil refinery</a> in Sweden, Topsoe’s HydroFlex™ technology will be utilized in Preem’s IsoCracker (a unit that breaks down molecules into lighter components. Topsoe will thereby supports Preem’s long-term target of producing five million cubic meters of renewable fuels and achieving a climate neutral value chain by 2035. Once the revamped Lysekil refinery starts operating in 2027, Preem will become one of Northern Europe’s biggest producers of SAF.<br /><br />The partnership builds on years of cooperation with Preem to produce renewable fuels, including at Preem’s refinery in Gothenburg. Together, Topsoe and Preem will work to increase production of renewable fuels, SAF included.<br /><br /><b>Elena Scaltritti, Chief Commercial Officer at Topsoe, said:</b><br />“Society needs a significant upscaling of renewable fuels for aviation. We’re excited to take another step on the path to reduce carbon emissions in the transportation sector and aviation in particular. Together with Preem, we already have a proven track-record of delivering impactful results within renewable fuels production, and we’re looking forward to continuing working with Preem on this important task.”<br /><br /><b>Peter Abrahamsson, Director of Sustainable Development at Preem, said:</b><br />“We’re thrilled about the revamp of Lysekil refinery, which is one of the most significant climate investments in Sweden. The demand for sustainable aviation fuels is increasing rapidly, and we are already in dialogue with several major airlines. With this investment, Preem takes another decisive step in the transition from fossil to renewable production. We’re happy to continue working with Topsoe on increasing renewable fuels production.”<br /><br /><b>What is HydroFlex™</b><br />With HydroFlex™, customers can convert various fats, oils and greases into drop-in renewable jet and diesel that meet all globally accepted specifications for these fuels. Topsoe’s HydroFlex™ can be deployed in both grassroots units and revamps for co-processing or fully renewable applications.<br /><br /><br /><b>About Preem</b><br />PREEM is Sweden’s largest fuel company. Preem’s refineries in Gothenburg and Lysekil account for about 80 percent of the Swedish refinery capacity and approximately 35-40 percent of the Nordic capacity. Together, they have a total refining capacity of over 18 million cubic meters per year. Our vision is to lead the transition toward a sustainable society. By 2035, Preem has set a goal to produce 5 million cubic meters of renewable fuels, and to achieve climate neutrality across the entire value chain. We refine and sell fuel, heating oil and lubricating oil as well as other products to companies and individuals. Most of our products, almost 60 percent, are exported to nearby markets mainly north-western Europe. We have a nationwide service network with over 500 filling stations for private and commercial traffic. Preem AB has around 1,500 employees, of which 1,100 work at our refineries. In 2022, Preem’s turnover was SEK 161 billion.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-2390767782208419752024-01-21T09:39:00.000-08:002024-01-21T09:39:00.731-08:00Dangote Refinery Receives Its Maiden Crude CargoIn a major step towards boosting Nigeria’s domestic refining capacity and attaining energy security (self-sufficiency), <a href="https://www.abarrelfull.co.uk/Dangote_Greenfield_Refinery_Project">Dangote Petroleum Refinery and Petrochemicals plant</a> has purchased 1 million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), one of the largest trading companies in Nigeria as well as globally, trading over 8 million barrels of crude oil per day.<br /><br />The STASCO cargo contained 1 million barrels from Agbami and sailed to Dangote Refinery’s Single Point Mooring (SPM) where it was discharged into the refinery’s crude oil tanks.<br /><br />The maiden 1 million barrels, which represent the first phase of the 6 million barrels of crude oil to be supplied to Dangote Petroleum Refinery by a range of suppliers, should sustain the initial 350,000 barrels per day to be processed by the facility. The next four cargoes will be supplied by the NNPC in two to three weeks and the final of the six cargoes will be supplied by ExxonMobil.<br /><br />This supply will facilitate the initial run of the refinery as well as kick-start the production of diesel, aviation fuel, and LPG before subsequently progressing to the production of Premium Motor Spirit (PMS).<br /><br />This latest development will play a pivotal role in alleviating the fuel supply challenges faced by Nigeria as well as the West African countries.<br /><br />Designed for 100% Nigerian crude with the flexibility to process other crudes, the 650,000 barrels per day Dangote Petroleum Refinery can process most African crude grades as well as Middle Eastern Arab Light and even US Light tight oil as well as crude from other countries.<br /><br />Dangote Petroleum Refinery can meet 100% of Nigeria’s requirement of all refined products, gasoline, diesel, kerosene, and aviation jet, and also have surplus of each of these products for export.<br /><br />The refinery was built to take crude through its two SPMs located 25 kilometres from the shore and to discharge petroleum products through three separate SPMs. In addition, the refinery has the capacity to load 2,900 trucks a day at its truck-loading gantries.<br /><br />Dangote Refinery has a self-sufficient marine facility with the ability to handle the largest vessel globally available. In addition, all products from the refinery will conform to Euro V specifications.<br /><br />The refinery is designed to comply with US EPA, European emission norms, and Department of Petroleum Resources (DPR) emission/effluent norms as well as African Refiners and Distribution Association (ARDA) standards.<br /><br />President of Dangote Group, Mr. Aliko Dangote stated: “We are delighted to have reached this significant milestone. This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects. Our focus over the coming months is to ramp up the refinery to its full capacity. I look forward to the next significant milestone when we deliver the first batch of products to the Nigerian market.”<br /><br />Country Chairman of Shell Companies in Nigeria, Mr. Osagie Okunbor stated: “We welcome the startup of a refinery that is designed to produce gasoline, diesel, and low-sulphur fuels for Nigeria and across West Africa and are happy to be enabling it.”Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-77857200349856083302024-01-21T09:13:00.000-08:002024-01-21T09:13:01.052-08:00LG Chem and Enilive: a joint venture agreement for the biorefinery in South KoreaLG Chem and Enilive move a further step forward to the final investment decision on the project of a new biorefinery in South Korea by signing the joint venture agreement. The agreement has been signed in Rome by Eni CEO, Claudio Descalzi, and LG Chem CEO, Shin Hak-cheol.<br /><br />Last September, Enilive (a company directly controlled by Eni, which holds 100% of its share capital) and LG Chem announced they were exploring the possibility to develop and operate a new biorefinery at existing LG Chem’s integrated petrochemical complex in Daesan, South Korea, with the aim to complete the biorefinery by 2026 and to make it process approximately 400,000 tons of renewable bio-feedstocks annually using Eni's Ecofining™ technology and produce multiple products including Sustainable Aviation Fuel (SAF), Hydrotreated Vegetable Oil (HVO), and bio-naphtha. LG Chem and Eni will combine expertise in this initiative. The final investment decision is expected in 2024.<br /><br />Eni CEO Claudio Descalzi stated: “Biofuel production is one of the main pillars of our strategy to contribute to reach net zero emissions by 2050 also through the sale of increasingly decarbonized products to our clients. The biorefinery project we are working on together with LG Chem is a key element to expand Enilive biorefining presence internationally, to raise its capacity from current 1.65 million tons/year to over 5 million tons/year by 2030 and to increase the optionality of SAF production to up to 2 million tons/year from 2030.”<br /><br />LG Chem CEO Shin Hak-cheol noted, “This agreement holds significant meaning as it represents the collaboration and joint effort of global leading companies towards the common goal of ‘Net Zero’.” He further stated, “LG Chem will actively support the successful execution of this project and, moving forward, will solidify its position as a leading company in the eco-friendly plastic industry, achieving sustainable development and carbon neutrality as a true global entity.”Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-16886133066971111992024-01-03T10:17:00.000-08:002024-01-03T10:17:45.049-08:00TotalEnergies signs an agreement to divest its minority stake in Natref refinery to the Prax GroupIn line with its strategy to divest non-core assets, TotalEnergies has announced the signature of an agreement to divest the 36.36% minority stake, held by TotalEnergies Marketing South Africa, in <a href="https://www.abarrelfull.co.uk/Natref_Sasolburg_Refinery">National Petroleum Refiners of South Africa (Natref)</a> to the Prax Group. The transaction is subject to customary approvals, consents and authorisations.<br /><br />Located at Sasolburg (Free State, South Africa), Natref refinery has a capacity of 108 500 barrels of oil per day, supplies the main South African inland market of Johannesburg area and is operated by a Joint Venture between Sasol (63,64%) and TotalEnergies Marketing South Africa.<br /><br />“The transaction is in line with the Company strategy to focus on its large integrated fuels & petrochemicals platforms and to divest its non-core assets” commented Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.<br /><br />TotalEnergies has been present in South Africa for nearly seventy years, produces and markets a wide range of energies from fuels, biofuels, natural gas and green gases, renewables and electricity and remains committed to its operations in the country.<div><br /></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-27829327836312488202023-12-15T04:17:00.000-08:002023-12-15T04:17:35.403-08:00The Prax Group Signs An Agreement To Acquire Interest In PCK Schwedt Refinery From Shell Deutschland GmbhThe Prax Group has announced that it has signed a Sales and Purchase Agreement (SPA) to acquire a 37.5% interest in <a href="https://www.abarrelfull.co.uk/Schwedt_Refinery">PCK Schwedt Refinery</a> (“PCK”) and its associated logistic assets from Shell Deutschland GmbH. PCK is jointly owned by Shell Deutschland GmbH (37.5%), Rosneft Deutschland GmbH (“RDG”) (37.5%) and AET (25%). AET is owned by ENI (1/3) and Rosneft Refining and Marketing GmbH (“RNRM”) (2/3). The transaction is subject to the necessary customary approvals and consents.<br /><br />Located in the Berlin-Brandenburg region, PCK is one of Germany’s largest refineries (with a capacity of 245K bpd) and is a national strategic asset, responsible for supplying c.90% of Berlin’s demand, and servicing the broader East German region. In addition, the refinery plays an important role supplying oil products to Poland, and other neighbouring European countries.<br /><br />The transaction aligns strategically with the Prax Group’s recently completed acquisition of the OIL! Tankstellen petrol retail network, substantially enhancing the Group’s customer offering on continental Europe. This will in turn see the Prax Group become a significant presence in the German market and a major player in the European refining sector.<br /><br />The Group’s intention is that PCK will be key in supporting further European expansion, allowing Prax to better meet the needs of its customers across Europe , whilst continuing to ensure security of supply. The Group plans to support the activities of the refinery through the ongoing energy transition, and to provide further opportunities in the region.<br /><br />The Prax Group has a proven track record of operating, optimising and improving strategically important assets across the oil value chain, from upstream to downstream. This acquisition will bring new investment to the refinery, to ensure the future of the asset and its employees, and underlines the Group’s determination to support the local economy and wider community.<br /><br />Separately, the divestment of PCK is part of Shell’s intent to reduce its global refinery footprint to core sites integrated with the company’s trading hubs, chemicals plants and marketing businesses.<br /><br />Sanjeev Kumar Soosaipillai, Chairman and CEO of the Prax Group said: “The signing of this agreement marks another key milestone for the Group as we look to diversify geographically and enhance our European market presence. This follow-on acquisition in Germany provides us with a solid platform in the heartland of Europe, from which to continue our expansion strategy, while reaffirming our ongoing commitment to building a solid and transformative supply chain to meet the needs of our customers.”Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-69212661745349706792023-11-22T05:50:00.000-08:002023-11-22T05:50:01.581-08:00CVR Renewables Selects Honeywell Ecofining™ TechnologyHoneywell announced today that CVR Renewables CVL, LLC, a subsidiary of CVR Energy, Inc., will utilize Honeywell’s Ecofining™ technology in its evaluation of a potential project to produce biofuels from feedstocks such as distillers corn oil, at its facility in<a href="https://www.abarrelfull.co.uk/Coffeyville_Refinery"> Coffeyville</a>, Kansas or in the surrounding area. The potential new Ecofining™ plant is being designed to convert approximately 30,000 barrels per day of waste feeds/feedstocks to sustainable aviation fuel (SAF), renewable diesel and other products.<br /><br />Provided the project receives approval, CVR Renewables should be able to realize a capital efficient and high-yield solution, ideal for producing biofuels from 100% renewable feedstocks. SAF produced with Honeywell’s EcofiningTM technology is a drop-in replacement fuel that requires no changes to aircraft technology or fuel infrastructure. SAF can be used in blends of up to 50 percent SAF with the remainder being conventional (fossil-based) jet fuel. Honeywell’s Ecofining™ process is a proven technology that has been used around the world for years to produce SAF that can reduce greenhouse gas (GHG) emissions up to 80 percent when compared to the emissions from fossil fuels.1<br /><br />“Renewable fuels are in high demand, and Honeywell’s Ecofining technology can help CVR Renewables maximize SAF production for commercial aviation use,” said Barry Glickman, vice president, general manager, Honeywell Sustainable Technology Solutions. “The Ecofining process was developed to deliver industry-leading performance using a wide range of feedstocks. This technology is ready-now and has already been selected for use in more than 40 plants globally.” <br /><br />“We are excited about Honeywell’s Ecofining technology and the potential role it could play in our efforts to decarbonize our business,” said Mike Wright, Executive Vice President and Chief Operating Officer of CVR Energy. <br /><br />Honeywell’s <a href="https://youtu.be/CrTKKzsG_Ys">Ecofining™ process</a>, developed in collaboration with Eni SpA, can be used to convert waste plant-based oils, animal fats and other waste feedstocks to renewable diesel and SAF. It has been used to produce SAF commercially since 2016. Honeywell now offers solutions across a range of feedstocks to meet the rapidly growing demand for renewable fuels. In addition to the Ecofining™ process, Honeywell’s renewable fuels portfolio includes the UOP <a href="https://uop.honeywell.com/en/industry-solutions/renewable-fuels/ethanol-to-jet?utm_source=linkedin-or&utm_medium=social&utm_campaign=22-pmt-uop-sts-ww-ETJ-7012E000001d7mpQAA&utm_content=prelease">E</a><a href="https://uop.honeywell.com/en/industry-solutions/renewable-fuels/ethanol-to-jet?utm_source=linkedin-or&utm_medium=social&utm_campaign=22-pmt-uop-sts-ww-ETJ-7012E000001d7mpQAA&utm_content=prelease">thanol to Jet process</a> and the recently announced Honeywell <a href="https://uop.honeywell.com/en/industry-solutions/renewable-fuels/efining?utm_source=pressrelease&utm_medium=pr&utm_campaign=23-pmt-uop-sts-usa-Sustain_NPI_MTJ-PR-7018c000001DBBDAA4&utm_term=bloomberg&utm_content=prelease">UOP eFining™</a> process, which converts green hydrogen and carbon dioxide-derived methanol into eFuels.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-78411986002976879862023-11-09T02:23:00.001-08:002023-11-09T02:23:09.325-08:00Chevron Lummus Global Commissions ISOTERRA Unit at Chevron's El Segundo RefineryChevron Lummus Global LLC (CLG) today announced the completion and successful startup of an ISOTERRA unit as part of Chevron's renewable fuel conversion project at their <a href="http://www.abarrelfull.co.uk/El_Segundo_Refinery">El Segundo Refinery</a> in Southern California.<div><br />The ISOTERRA unit leverages both the refinery's existing assets and Chevron Lummus Global's proprietary catalyst and reactor internals technology to achieve exceptional diesel yields. The conversion from a diesel hydrotreater (DHT) allowed for a quick turnaround of the existing unit, establishing El Segundo as Chevron's first petroleum refinery with the flexibility to supply diesel fuel derived entirely from renewable or traditional feedstocks.<br /><br />"This is a significant milestone for CLG, and we take great pride in our partnership with Chevron to deliver lower carbon solutions to the market," said Rajesh Samarth, Chief Commercial Officer of Chevron Lummus Global. "The successful startup of this one-of-a-kind ISOTERRA unit demonstrates the viability and scalability of our renewable fuels technology. It also highlights our commitment to helping our customers meet their goals and satisfy the growing demand for alternative fuels."<br /><br />CLG's ISOTERRA technology is an all-hydroprocessing route designed specifically for converting lipid-rich feedstocks into ASTM-approved renewable diesel or sustainable aviation fuel (SAF). This process provides a viable alternative for the transportation sector, helping to deliver lower carbon solutions.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-76325674070193676332023-10-23T02:39:00.002-07:002023-10-23T02:39:48.145-07:00Liwathon Group Acquires 25% Stake in Germany's MIRO Refinery from Esso DeutschlandAlcmene Group, headquartered in Vienna, Austria, is pleased to announce the purchase of a 25% share in <a href="http://www.abarrelfull.co.uk/Miro_Karlsruhe_Refinery">MIRO Mineraloelraffinerie Oberrhein GmbH & Co. KG</a>, one of Germany's largest oil refineries, previously owned by Esso Deutschland GmbH. This transaction marks a further significant move towards Alcmene's ongoing strategy to establish itself as a vital player in the global energy infrastructure arena. "Our goal is to increase shareholder value by focusing on operational excellence and strategic asset acquisition," stated Raul Riefler at Alcmene GmbH. The completion of the transaction is subject to applicable regulatory approvals. <br /><br /> The acquisition aligns seamlessly with the broader investment strategy of Liwathon Group, the parent company of Alcmene. Liwathon owns over 2,100,000 m3 of storage across two major terminals in Estonia and the Bahamas, reinforcing its global presence in the energy sector. "We are committed to providing secure, reliable, and affordable energy solutions whilst adhering to the highest industry standards. This acquisition demonstrates our focus on strategic growth, especially in areas where future investment in energy infrastructure is necessary to maintain supply resilience," commented Alcmene GmbH. <br /><br /> Alcmene, a wholly-owned subsidiary of Liwathon Group, specializes in midstream oil and commodity trading. The company aims to unlock asset value through significant capital investments and identifies multiple synergies within the group for future acquisitions in the energy and industrial sectors. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-5019965299833246522023-08-28T23:17:00.001-07:002023-08-28T23:17:52.229-07:00Technip Energies Awarded a Significant Contract for Hydrogen Production Unit at bp’s Kwinana BiorefineryTechnip Energies (PARIS: TE) has been awarded a significant(1) contract by bp for a hydrogen production unit at its <a href="http://www.abarrelfull.co.uk/Kwinana_refinery">Kwinana biorefinery</a> in Western Australia, in support of the planned project to produce sustainable aviation fuel (SAF) and biodiesel from bio feedstocks.<br /><br />The contract covers Engineering, Procurement and Fabrication (EPF) of a modularized hydrogen production unit with a capacity of 33,000 normal m3/hour, using Technip Energies’ SMR proprietary technology. Hydrogen is used for the conversion of bio feedstocks into biofuels such as SAF and biodiesel. The unit will be capable of producing hydrogen from either natural gas or biogas produced by the Kwinana biorefinery.<br /><br />It is planned to integrate with the site’s existing import terminal operations and plans for green hydrogen production, which are currently being assessed. The Kwinana Renewable Fuels project is one of five biofuel production projects bp has planned globally.<br /><br />Loic Chapuis, SVP Gas & Low-carbon Energies of Technip Energies, commented: “We are pleased to build on our global leadership in the delivery of hydrogen production units to support bp’s expansion of its biofuels and sustainable aviation fuel businesses. By leveraging our expertise in modularization and proprietary hydrogen technology, we are committed to making this project an industrial success.”Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-43370589295975422542023-07-12T07:32:00.001-07:002023-07-12T07:32:04.167-07:00Petrobras on RNEST Petróleo Brasileiro S.A. – Petrobras informs that its Board of Directors, at a meeting held yesterday, decided to continue with the implementation of the Train 2 of the <a href="http://www.abarrelfull.co.uk/Abreu_e_Lima_Refinery_RNEST">Abreu e Lima Refinery - RNEST</a>, whose works were interrupted in 2015. The decision is based on a careful reassessment of the RNEST Project which, in accordance with the assumptions of the Strategic Plan 2023-2027, had its economic attractiveness confirmed. <div><br /></div><div>The contracts associated with the continuity of the work on RNEST's Train 2 will undergo all the necessary analyses, in compliance with the applicable governance practices and internal procedures and will be disclosed to the market in due course. It is important to highlight that such project was already foreseen in the Strategic Plan 2023-2027, within the Plan's CAPEX. </div><div><br /></div><div>The RNEST's Train 2 is scheduled to start operating in 2027, and with this implementation, Petrobras will contribute to expand the domestic refining capacity, enabling an increase in the production of oil products, especially S10 diesel, to meet market demands.</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-81450639785282151092023-06-19T07:49:00.007-07:002023-06-19T07:49:49.264-07:00KBR Awarded Feasibility Study to Support Next Generation Green RefineryKBR (NYSE: KBR) announced today it has been awarded a feasibility study contract by Southern Rock Energy Partners to support the development of a first-of-its-kind <a href="http://www.abarrelfull.co.uk/Southern_Rock_Refinery_Project">refinery in Cushing, Oklahoma</a>.<br /><br />Southern Rock's proposed 250,000bpd refinery will be powered by solar, wind, waste heat and geothermal energy and consume hydrogen and oxygen as a fuel source, making it a truly cutting-edge refinery with the goal of becoming net zero carbon, and the first truly green refinery in the United States.<br /><br />Under the terms of the contract, KBR will provide expert consulting services, including a feasibility study in the formative stages of the project, and key technical information for the individual process units. KBR will focus on incorporating best practices into the design that will reduce emissions of greenhouse gases (GHG) with the potential for future reduction of GHG for a sustainable operation.<br /><br />"KBR is pleased to support Southern Rock Energy Partners to reach their sustainability goals through our consulting capabilities," said Jay Ibrahim, KBR President, Sustainable Technology Solutions. "This win is indicative of KBR's strategic commitment to supporting our customers through the energy transition."<br /><br />KBR was recently recognized for its deep commitment to sustainability with a AAA designation in MSCI's 2023 ESG Ratings and a spot on USA Today's 2023 list of America's Climate Leaders.<br /><br /><b>About KBR</b><br /><br />We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 32,000 people performing diverse, complex and mission-critical roles in 33 countries.<br /><br />KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-57629872707700909172023-04-20T22:52:00.001-07:002023-04-20T22:52:07.342-07:00Petrobras on the expansion of RNEST capacityPetrobras informs that it has signed a contract to expand and modernize units already in operation at <a href="http://www.abarrelfull.co.uk/Abreu_e_Lima_Refinery_RNEST">Abreu e Lima Refinery (RNEST)</a>, in Pernambuco. After the completion of the works, expected for the fourth quarter of 2024, the refinery will have an increase in the total processing capacity of Train 1: from the current 115 thousand barrels of oil per day (bpd) to 130 thousand bpd, as foreseen in the Strategic Plan 2023-2027.<br /><br />The units involved are atmospheric distillation, delayed coking and auxiliary units. The modernization of these units is strategic for Petrobras and for the country, since it will make it feasible to increase the supply of diesel for the Brazilian market as of 2025.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-72842426918062547782023-03-30T06:07:00.001-07:002023-03-30T06:07:23.705-07:00Aramco to expand presence in China by acquiring 10% stake in Rongsheng PetrochemicalAramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a 10% interest in Shenzhen-listed Rongsheng Petrochemical Co. Ltd. (“Rongsheng”) for RMB 24.6 billion ($3.6 billion at current exchange rates), in a deal that would significantly expand its downstream presence in China.<br /><br />Through the strategic arrangement, Aramco would supply 480,000 barrels per day (bpd) of Arabian crude oil to Rongsheng affiliate Zhejiang Petroleum and Chemical Co. Ltd (ZPC), under a long-term sales agreement. Aramco Overseas Company (“AOC”), a wholly-owned subsidiary of Aramco, will acquire the interest in Rongsheng.<br /><br />Among other assets, Rongsheng owns a 51% equity interest in ZPC, which in turn owns and operates <a href="http://www.abarrelfull.co.uk/Zhejiang_Zhoushan_Refinery">the largest integrated refining and chemicals complex in China</a> with a capacity to process 800,000 bpd of crude oil and to produce 4.2 million metric tons of ethylene per year.<br /><br />Mohammed Y. Al Qahtani, Aramco Executive Vice President of Downstream, said:“This announcement demonstrates Aramco’s long-term commitment to China and belief in the fundamentals of the Chinese petrochemicals sector. It is an important acquisition for Aramco in a key market, supporting our growth ambitions and advancing our liquids to chemicals strategy. It also promises to secure a reliable supply of essential crude to one of China’s most important refiners.” <br /><br />Li Shuirong, Rongsheng Chairman, said: “This strategic co-operation will take our long-term friendship and mutual trust to a new level, and paves the way for a bright future for the high-quality development of the world’s petrochemicals industry. I believe that Aramco’s involvement will greatly help Rongsheng implement its petrochemical growth strategy.”<br /><br />The investment would anchor an important association between Aramco, Rongsheng and ZPC, which operates one of the world’s most state-of-the-art chemical conversion assets.<br /><br />The transaction involves an off-market secondary sale of Rongsheng shares by majority shareholder Zhejiang Rongsheng Holding Group, with potential for future collaboration between the parties in trading, refining, chemicals production and technology licensing. The transaction is expected to close by the end of 2023, and is subject to regulatory approvals.<br /><br />It follows the announcement on March 26 that the Aramco joint venture, Huajin Aramco Petrochemical Company (HAPCO), planned to start construction of a major integrated refinery and petrochemical complex in northeast China in the second quarter of 2023. Aramco, which has a 30% stake in HAPCO, will supply up to 210,000 bpd of crude oil feedstock to the complex.<br /><br />Combined, the partnership with Rongsheng and the HAPCO joint venture would see Aramco supply a total of 690,000 bpd of crude to high chemical conversion assets.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-78539086528208651692023-03-30T06:01:00.005-07:002023-03-30T06:01:43.411-07:00Aramco JV HAPCO to commence construction of major refinery and petrochemical complex in ChinaAramco and joint venture partners NORINCO Group and Panjin Xincheng Industrial Group plan to start construction of <a href="http://www.abarrelfull.co.uk/HAPCO_Panjin_Liaoning_Refinery_Project">a major integrated refinery and petrochemical complex</a> in northeast China.<br /><br />Huajin Aramco Petrochemical Company (HAPCO), a joint venture between Aramco (30%), NORINCO Group (51%) and Panjin Xincheng Industrial Group (19%), is developing the complex that will combine a 300,000 barrels per day refinery and a petrochemical plant with annual production capacity of 1.65 million metric tons of ethylene and 2 million metric tons of paraxylene.<br /><br />Construction is due to start in the second quarter of 2023 after the project secured the required administrative approvals. It is expected to be fully operational by 2026.<br /><br />Aramco will supply up to 210,000 bpd of crude oil feedstock to the complex, which is being built in the city of Panjin, in China’s Liaoning province.<br /><br />Mohammed Y. Al Qahtani, Aramco Executive Vice President of Downstream, said: “This important project will support China’s growing demand across fuel and chemical products. It also represents a major milestone in our ongoing downstream expansion strategy in China and the wider region, which is an increasingly significant driver of global petrochemical demand. “<br /><br />Zou Wenchao, NORINCO Group Deputy General Manager, said: “This large-scale refinery and petrochemical complex is a key project of NORINCO Group to implement and realize the joint development of the high-quality Belt and Road initiative, promote industrial restructuring, and enhance the oil and petrochemical sector to become stronger, better and larger. It will play an important role in deepening economic and trade cooperation between China and Saudi Arabia, and achieving common development and prosperity.”<br /><br />Jia Fei, Panjin Xincheng Chairman of the Board, said: "The project is of great significance for Panjin to promote increasing chemicals and specialty products, strengthening integration of the refining and chemical industry. It is a symbolic project for Panjin as it seeks to accelerate the development of an important national petrochemical and fine chemical industry base.”Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-56142254109429089222023-03-17T05:56:00.006-07:002023-03-17T05:56:46.743-07:00CVR Energy Proceeds with Alkylation Project Using KBR’s K-SAAT TechnologyKBR (NYSE: KBR) announced today that CVR Energy, Inc.’s Board of Directors has approved the next phase of the revamp of the alkylation unit at its subsidiary’s<a href="http://www.abarrelfull.co.uk/Wynnewood_Refinery"> crude oil refinery located in Wynnewood</a>, Oklahoma.<br /><br />This phase entails the completion of engineering, design, module fabrication and construction for KBR’s Solid Acid Alkylation Technology (K-SAAT™) unit to eliminate hydrofluoric (HF) acid from the refinery. KBR’s contract includes the supply of a fully engineered and fabricated modular solution along with KBR’s proprietary catalyst for the project.<br /><br />“We view this as a landmark project for the U.S. refining industry,” said Doug Kelly, KBR President, Technology. “The Wynnewood refinery will be the first U.S. implementation of K-SAAT technology, which in addition to delivering higher alkylate yield, should provide tangible environmental and safety benefits. We believe other leading refiners will adopt this technology given its clear ESG advantage.”<br /><br />“We are pleased to move forward with this important project,” said Dave Lamp, President & Chief Executive Officer of CVR Energy. “It represents yet another example of CVR Energy’s efforts to focus on safe, efficient and reliable operations, and should increase gasoline production by upgrading lower-valued propylene.”<br /><br />KBR’s K-SAAT provides an opportunity to maximize the yield and quality of an ultra-clean gasoline blendstock with the ExSact™ catalyst, a revolutionary solid-acid catalyst that has been engineered to outperform liquid acid catalysts.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-68176457497626984172023-02-17T06:09:00.001-08:002023-02-17T06:09:42.316-08:00Uniper signed agreement to divest its UAE-based marine fuel trading businessUniper has reached an agreement to sell 100% of the shares in its United Arab Emirates-based crude oil processing and marine fuel trading business (Uniper Energy DMCC) to a consortium of Montfort Group and the Private Office of Sheikh Ahmed Dalmook Al Maktoum. The parties agreed to not disclose the agreed purchase price and the acquisition is expected to be completed in the coming months, subject to satisfaction of certain conditions precedent.<br /><br />Uniper Energy DMCC is producing and supplying IMO 2020 compliant low sulphur fuel oils to the Fujairah market – the third largest bunker fuel market in the world. The business comprises the operation of a <a href="http://www.abarrelfull.co.uk/Fujairah_Refinery">crude processing facility</a> in the Port of Fujairah, selling over 30 million barrels of low sulphur fuel oil to the shipping industry each year, and a trading office based in Dubai, including a team of around 25 people.<br /><br />Divestment of this non-strategic participation is part of the remedies Uniper must fulfill under EU state aid law. On December 20th 2022, the EU Commission approved the stabilization package for Uniper under state aid law. As part of the approval, the EU Commission set out a number of structural remedies that Uniper must fulfil. On January 16, Uniper has announced the divestment from its 20% stage in the BBL gas pipeline as a first remedy measure under EU state aid law.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-77203693928053265662023-02-16T08:38:00.000-08:002023-02-16T08:38:38.320-08:00Eni Sustainable Mobility and PBF Energy Announce Partnership for St. Bernard Biorefinery in the USEni Sustainable Mobility and PBF Energy Inc. today announced they have entered into definitive agreements to partner in a 50-50 joint venture, St. Bernard Renewables LLC (SBR), for the biorefinery currently under construction co-located with PBF’s <a href="http://www.abarrelfull.co.uk/Chalmette_Refinery">Chalmette Refinery</a> in Louisiana (US). Upon consummation of the transaction, which is subject to customary closing conditions, including regulatory approvals, Eni Sustainable Mobility will contribute capital totaling $835 million plus up to additional $50 million that is subject to the achievement of eventual project milestones and will provide expertise in biorefining operations, supply and marketing. PBF brings its strong industrial know-how in the United States and, as the contributor of the biorefinery, will continue to manage project execution and serve as the operator once construction is complete. The St. Bernard Renewables biorefinery startup is scheduled in the first half of 2023 and the facility is currently targeted to have processing capacity of about 1.1 million tonnes/year of raw materials, with full pretreatment capabilities. It will produce mainly HVO Diesel (Hydrotreated Vegetable Oil, commonly known as ‘renewable diesel’ in North America), with a production capacity of 306 million gallons per year. The biorefinery will use the Ecofining™ process developed by Eni in cooperation with Honeywell UOP.<br /><br />This strategic partnership will leverage the experience and expertise of Eni Sustainable Mobility and PBF. Together with Ecofining™ technology, Eni brings its experience in biorefining that led to the world’s first conversion of a refinery into a biorefinery in Porto Marghera (Venice) in 2014, and to the second converted biorefinery that has been working in Gela (Sicily) since 2019. The company also provides its worldwide knowledge in supplying sustainable feedstock sourcing for HVO, mainly based on oily waste and residues, and raw materials that do not compete with the food chain, coupled with access to international markets beyond PBF’s footprint in the United States. PBF brings experience in large capital project execution and fuels manufacturing as well as access to the California renewables market through its existing logistics assets. The joint venture reflects both partners' commitment to deliver more sustainable transportation fuels using low carbon intensity feedstocks.<br /><br />“Joining St. Bernard Renewables biorefinery project enables Eni to enter into US biofuels growing market together with a strong partner such as PBF. This is a further step for Eni Sustainable Mobility to expand its biorefining capacity, that today is over 1 million tonnes/year and it is planned to grow in the upcoming years. Following results achieved in Venice and Gela, Eni Sustainable Mobility is a pioneer in the biorefining industry, and it is also studying possible construction of two new biorefineries in Italy and in Malaysia. We do believe the role of HVO will strongly contribute to decarbonization of road transports, including hard to abate heavy duty sector, as it leverages existing infrastructure and can immediately fuel existing vehicle fleets. Biofuels are part of Eni strategy to achieve carbon neutrality by 2050 through the reduction of the emissions generated during the entire products life cycle”, Stefano Ballista, CEO of Eni Sustainable Mobility, said.<br /><br />"We're excited to enter this strategic partnership with Eni Sustainable Mobility, a global leader in biorefining. The SBR biorefinery will benefit greatly from PBF and Eni’s complementary strengths and expertise. The project will utilize existing processing infrastructure and diverse inbound and outbound logistics and is ideally situated to support growing demand for low-carbon fuels,” said PBF President Matthew Lucey. “Our partnership with Eni signals a major milestone for PBF and demonstrates our commitment to contributing diversified sources of energy to the global mix while lowering the carbon intensity of our operations and the products we manufacture."<br /><br />SBR will operate as an independent entity with feed procurement and product distribution managed by a dedicated team working on behalf of the St. Bernard Renewables joint venture. While the partnership is set to benefit from its co-location with PBF’s Chalmette refinery through a variety of shared services, the operations and ownership of the Chalmette refinery will not be affected by the formation of the partnership.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-19865424585402748472023-01-30T08:53:00.001-08:002023-01-30T08:53:01.365-08:00Technip Energies Awarded Contract to Upgrade Aramco’s Sulfur Recovery Facilities at Riyadh RefineryTechnip Energies as part of its long-term agreement with Aramco – has been awarded a contract to upgrade sulfur recovery facilities at Aramco’s <a href="http://www.abarrelfull.co.uk/Riyadh_Refinery">Riyadh Refinery</a>.<br /><br />This contract covers the implementation of three new tail gas treatment (TGT) units, improving the performance of the existing three sulfur recovery units (SRU) to comply with more stringent regulations for sulfur dioxide emissions, with recovery efficiency at more than 99.9%.<br /><br />The project will be executed locally, leveraging Saudi economic resources and infrastructure.<br /><br />The existing sulfur recovery units in the Riyadh refinery were designed and built by Technip Energies in the early 2000s.<br /><br />Bhaskar Patel, SVP Sustainable Fuels, Chemicals & Circularity of Technip Energies, commented: “We are pleased to be entrusted by Aramco to work on the upgrading program of their refinery in Riyadh. By leveraging our long-standing relationship, which has been in place since the mid-1990s, we are committed to make this project another success, while utilizing local resources and supply chain.”<br /><br />Note: this award is included in the Company’s fourth quarter 2022 financial results.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-51456172337530163432023-01-27T03:01:00.001-08:002023-01-27T03:01:05.697-08:00Imperial Approves $720 million for Largest Renewable Diesel Facility in CanadaImperial (TSE: IMO, NYSE American: IMO) said today it will further help Canada achieve its net zero goals by investing about $720 million (USD $560 million) to move forward with construction of the largest renewable diesel facility in the country. The project at <a href="http://www.abarrelfull.co.uk/Imperial_Oil_Strathcona_Edmonton_Refinery">Imperial’s Strathcona refinery</a> near Edmonton is expected to produce more than one billion litres of renewable diesel annually primarily from locally sourced feedstocks and could help reduce greenhouse gas emissions in the Canadian transportation sector by about 3 million metric tons per year, as determined in accordance with Canada’s Clean Fuel Regulation. Regulatory approval for the project is expected in the near term.<br /><br />“Imperial supports Canada’s vision for a lower-emission future, and we are making strategic investments to reduce greenhouse gas emissions from our own operations and to help customers in vital sectors of the economy reduce their emissions,” said Brad Corson, Imperial chairman, president and chief executive officer. “The investment at our Strathcona refinery will deliver immediate benefits to the local economy creating jobs and contributing to a lower-emission energy future for our employees, neighbours and communities.”<br /><br />The renewable diesel project was first announced in August 2021, with the Province of British Columbia supporting this project through a Part 3 Agreement under the BC low carbon fuel standard. A significant portion of the renewable diesel from Strathcona will be supplied to British Columbia in support of the province’s plan to lower carbon emissions. Imperial also intends to use renewable diesel in operations as part of the company’s emission reduction plans.<br /><br />Imperial’s renewable diesel facility will use low-carbon hydrogen produced with carbon capture and storage technology to help Canada meet low emission fuel standards. Imperial has entered into an agreement with Air Products for low-carbon hydrogen supply and is developing agreements with other third parties for biofeedstock supply. The low-carbon hydrogen and biofeedstock will be combined with a proprietary catalyst to produce premium lower-emission diesel fuel and will reduce greenhouse gas emissions relative to conventional fuels.<br /><br />Site preparation and initial construction are underway. Renewable diesel production is expected to start in 2025. The project is expected to create about 600 direct construction jobs, along with hundreds more through investments by business partners.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4660024234655494156.post-52391164265298823892023-01-09T09:25:00.002-08:002023-01-09T09:25:43.718-08:00Lukoil Concludes Agreement on Sale Of ISAB Refinery In ItalyPJSC LUKOIL announces that LITASCO S.A., 100% subsidiary of LUKOIL, and G.O.I. ENERGY LIMITED (hereinafter "G.O.I. ENERGY") reached an agreement regarding the sale of <a href="http://www.abarrelfull.co.uk/Priolo_Gargallo_Isab_Refinery">ISAB S.r.L.</a> (hereinafter "ISAB") to G.O.I. ENERGY. The transaction is planned to be completed by the end of March 2023 upon fulfilment of certain conditions precedent including receipt of necessary approvals of competent authorities, particularly the Italian Government.<br /><br />ISAB S.r.L. owns a large petrochemical complex in Italy combining refining, gasification and electricity cogeneration plants.<br /><br />For the efficient operation of the complex after its acquisition G.O.I. ENERGY formed a partnership with TRAFIGURA, one of the world's largest international traders of oil and petroleum products, which secures uninterrupted feedstock supplies to the refinery and provides for production offtake as well as necessary working capital level. The new owner will retain jobs and ensure health and safety conditions.Unknownnoreply@blogger.com0