Nayara Energy, formerly Essar Oil, is planning to invest Rs 1.3 lakh crore in expanding the capacity of its current 400kbd (20Mnta) Vadinar refinery by an additional 520kbd (26Mnta) as well as constructing a 215kbd (10.75Mnta) petrochemical complex,.
The new $6 Bn, 300kbd (15Mnta) refinery being proposed.in Ecuador, could be developed as a modular construction, potentially with an initial 100kbd (5Mnta). Potential locations are the provinces of Esmeraldas and Santa Elena due to existing oil infrastructure, and Guayas province for the port city Guayaquil.
Marathon Petroleum, under pressure from activist investor Elliott Management to break itself up, is considering the sale of two plants in Alaska and Utah.
Saudi Aramco and Total have awarded a contract to McDermott International for what will be one of the world’s largest mixed-feed crackers at the new SATORP refinery, in Saudi Arabia.
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.