The Prax Group has announced that it has signed a Sales and Purchase Agreement (SPA) to acquire a 37.5% interest in PCK Schwedt Refinery (“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.
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.
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.
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.
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.
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.
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.”
Friday, 15 December 2023
Wednesday, 22 November 2023
CVR Renewables Selects Honeywell Ecofining™ Technology
Honeywell 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 Coffeyville, 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.
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
“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.”
“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.
Honeywell’s Ecofining™ process, 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 Ethanol to Jet process and the recently announced Honeywell UOP eFining™ process, which converts green hydrogen and carbon dioxide-derived methanol into eFuels.
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
“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.”
“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.
Honeywell’s Ecofining™ process, 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 Ethanol to Jet process and the recently announced Honeywell UOP eFining™ process, which converts green hydrogen and carbon dioxide-derived methanol into eFuels.
Thursday, 9 November 2023
Chevron Lummus Global Commissions ISOTERRA Unit at Chevron's El Segundo Refinery
Chevron 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 El Segundo Refinery in Southern California.
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.
"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."
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.
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.
"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."
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.
Monday, 23 October 2023
Liwathon Group Acquires 25% Stake in Germany's MIRO Refinery from Esso Deutschland
Alcmene Group, headquartered in Vienna, Austria, is pleased to announce the purchase of a 25% share in MIRO Mineraloelraffinerie Oberrhein GmbH & Co. KG, 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.
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.
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.
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.
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.
Monday, 28 August 2023
Technip Energies Awarded a Significant Contract for Hydrogen Production Unit at bp’s Kwinana Biorefinery
Technip Energies (PARIS: TE) has been awarded a significant(1) contract by bp for a hydrogen production unit at its Kwinana biorefinery in Western Australia, in support of the planned project to produce sustainable aviation fuel (SAF) and biodiesel from bio feedstocks.
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.
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.
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.”
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.
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.
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.”
Wednesday, 12 July 2023
Petrobras 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 Abreu e Lima Refinery - RNEST, 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.
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.
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.
Monday, 19 June 2023
KBR Awarded Feasibility Study to Support Next Generation Green Refinery
KBR (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 refinery in Cushing, Oklahoma.
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.
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.
"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."
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.
About KBR
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.
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.
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.
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.
"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."
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.
About KBR
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.
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.
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