News Articles

MMEX Resources sources financing for Pecos refinery

MMEX Resources has selected debt and equity sources for financing of its projects, which will enable it to move forward with due diligence and final agreements to fund, in stages, two crude distillation units and related infrastructure at the Pecos refinery and terminals in the Texas Gulf Coast.

Trafigura joins others to lend $1 Bn to independent Chinese oil refiner

Trafigura has joined a group of lenders to provide a $1 Bn loan, backed by future oil sales, to Chinese independent refiner, Shandong Qingyuan, which operates a 104kbd (5.2Mnta) refinery.

Romania’s Onesti refinery goes bankrupt

RAFO’ Onesti refinery in Romania has gone bankrupt following the failure of its restructuring plan – potential investors' intentions failed to materialise and the 18-month period for the restructuring of the company expired in August.

Pertamina awards contract for Balikpapan refinery upgrade

Pertamina has awarded a contract to Hyundai Engineering to provide engineering, procurement, and construction for Pertamina’s $3.9 Bn Balikpapan Refining Development Master Plan (RDMP) project to upgrade and modernise its 260kbd (13Mnta) Balikpapan refinery in East Kalimantan, Indonesia. The project will take 53 months from the start of construction.

Angola launches an international public tender to build Soyo Refinery on 24 October

The Angolan Ministry of Mineral Resources and Oil has announce that the international public tender for the construction of the 100kbd (5Mnta) Soyo Refinery, in Angola’s Zaire province, will be launched on 24 October.