The Sri Lankan Government has plans to upgrade the 50-year-old Sapugaskanda oil refinery to double the capacity of the plant in the medium term, and also plans to set up two more refineries in Hambantota and Trincomalee,
The Arab Petroleum Investments Corp. has extended two loan facilities worth a combined $250 Mn to Sonatrach Petroleum to support the 198kbd (9.9Mnta) Augusta refinery in Sicily.
The Chinese government is set to allow some independent refiners to export oil products in 2020, although not necessarily in the first batch expected to be issued later this week. This will put state-held giant refiners and the independents in direct competition on the overseas markets.
Refineria Di Korsou has signed an asset purchase and sale agreement with Klesch Group, under which Klesch will takeover operational control from Refineria Isla Curazao for the Isla refinery at Emmastad, Curacao, an associated utilities plant and Bullenbay oil terminal.
Petrobras and CNPC have concluded, following completion of an economic feasibility study, that it is not economically viable to complete construction of the 150kbd (7.5Mnta) Comperj refining complex in Itaborai, Rio de Janeiro.