Qalaa Holdings has completed a $120 Mn funding round for its subsidiary, the Egyptian Refining Company (ERC), which will pay the first project finance debt instalment and part of the second for the its Cairo refinery, now 99.6% complete and due to begin full commercial operations during 3Q19.
Petrobras is shipping crude during June and July for storage in China to enable it to sell smaller volumes of oil in swift respond to demand from Chinese independent (teapot) refiners centred in the eastern province of Shandong.
NIORDC’s Isfahan refinery in Iran is to construct a unit to process its mazut output into other valuable products, following the signing of a contract between the refinery and Nargan Company to build the unit within three years with an investment of $670 Mn.
Work on the 4th CDU at Shuaiba refinery (Iraq’s largest) is expected to be completed unit by September and will expand processing capacity to 280kbd (14Mnta) by 2020. The refinery in Basra is currently operating at 95% capacity, processing around 200kbd (10Mnta).
North West Redwater (NWRP) has delayed introduction of bitumen feed from Alberta’s oil sands into the 80kbd (4Mnta) Phase 1 of proposed three-phased greenfield bitumen refinery in Sturgeon County.