Page 16 - EurOil Week 26 2021

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12.5 million tons, corresponding to 20 percent Petrobrazi has a total crude oil processing intention to buy back MOL’s stake in INA
of Sweden’s total emissions,” concludes Peter capacity of 4.5mn tonnes per year and, late in 2016. MOL has said it is ready to
Abrahamsson. starting 2005, OMV Petrom has invested discuss the sale of the stakes.
approximately €1.8bn in the refinery
Gate terminal welcomes its OMV Petrom enters LNG HyGear unit of Canada’s

first carbon-neutral cargo Xebec commissions

Dutch Gate terminal, a joint venture of market hydrogen generation
Vopak and Gasunie, has received the first Romania’s biggest oil and gas company
carbon-neutral cargo, brought jointly by OMV Petrom (SNP) has obtained a licence system for Turkish TAYRAS’
TotalEnergies and OMV. to commercialise liquefied natural gas, thus
The cargo was delivered last month via diversifying its activities on the market used lubricant oil re-
Sovcomflot’s LNG tanker SCF La Perouse. for gas and related products, the company
Operating since September 2011, Gate announced in a note to investors. refinery
import terminal is located at Maasvlakte in “OMV Petrom’s entry on this market is a
Rotterdam, contributing to the LNG supply natural development. We believe that natural Xebec Adsorption Inc has announced
in the Netherlands and Northwest Europe. gas plays an essential role in the energy that its wholly owned subsidiary, HyGear,
Its annual capacity is 12 billion cubic transition of Romania, especially due to the has commissioned an on-site hydrogen
metres of LNG. fact that we can access these resources,” says generation system for TAYRAS’ used
Ranking high on the terminal’s agenda is Franck Neel, member of the OMV Petrom lubricant oil re-refinery in Turkey.
increasing sustainability and CO2 neutrality executive board, responsible for downstream Approximately 560 kg of hydrogen per
of the whole LNG supply chain and the LNG gas. day (205 tonnes per year) will be delivered
product itself, the company claims. Natural gas has multiple applications under 125 bar by the fully automated system
By using waste heat, Gate is already in power production, transportation and under a 15-year gas-as-a-service contract,
avoiding burning gas during the industry, and can also contribute to reducing the Quebec-headquartered company said.
regasification activity, which means avoiding emissions and strengthening energy security. The TAYRAS facility is billed as the
CO2 emissions. The goal is, however, to do Furthermore, liquefied natural gas represents first of its kind in the country and as key to
more on carbon neutrality. a cleaner solution for the mobility, the OMV developing Turkey’s circular economy and
Gate says it will continue to take Petrom executive argued. reducing emissions from API Group II base
initiatives together with the partners of the lubricating oils.
terminal, such as the recently announced and “This was a significantly large sized
ISCC-certified bio-LNG activity, in order to MOL announces conditions project for us and a unique one to be
further reduce the impact of the terminal’s involved in within our reference installations.
activities on the environment. of ING share option TAYRAS’ re-refinery shows the importance
of securing local supply and reducing the
agreement carbon footprint of oils through recycling.
OMV Petrom spends €70mn Hungarian oil and gas company MOL Our on-site hydrogen offers the lowest cost
and emissions option by cutting out the
to replace key elements of announced the terms and conditions of a transportation and liquefaction steps from
centralized hydrogen supply. In addition,
share option agreement it concluded with
its Romanian refinery ING Bank on June 14. Under the agreement, we were able to showcase our expertise in
MOL will get American call options and
compression by operating at an impressive
OMV Petrom, the largest energy company ING will receive European put options on 125 bar on a 24/7 basis. This level of
in Southeast Europe, announced that it will 36,719,933 shares with an effective date of operation will lend well to other applications
invest approximately €70mn at the Petrobrazi June 25, 2021. such as hydrogen refueling stations where
refinery to replace certain facilities that are The maturity date of both the call and this pressure and reliability is also needed,”
essential during the refining process. put options is June 23, 2022, and the strike said Marinus van Driel, President of Xebec
These are the four coke drums which, at price of both options is €6.8742 per share. Europe.
very high temperatures, ensure the stage of The strike price is the equivalent of around The capacity of TAYRAS’ plant is 60,000
upgrading heavy components to superior HUF2,401 at current exchange rates. MOL tonnes/yr of used lubricating oil. That is
products. The four coke drums are designed shares closed at HUF2,404 on Wednesday. expected to produce approximately 45,000
for a lifespan of over 20 years and 5,000 The shares affected by the options tonnes of Group II base oil (N70, N100,
operating cycles and will be produced in account for 4.48% of MOL’s share capital. N220). The hydrogen produced by HyGear’s
Romania. MOL noted that under a share option system will be used to hydro-treat the used
“The replacement of the coke drums is a agreement it executed with ING Bank on oils and remove sulphur, chlorine, nitrogen,
project with a very high degree of technical June 17, 2020, 2,460,040 MOL shares will be phosphorous, silica and saturation of
and organisational complexity. The new physically settled and 36,719,933 shares will aromatics employing special catalysts.
units will have an important contribution be cash-settled on June 25, 2021. The released from Xebec added that
to increasing the efficiency and safety of The Hungarian oil giant holds just industry consultant Kline & Co. estimated
our operations,” said Radu Caprau, member under half of INA’s shares, 49% but exercises that approximately 50% of used motor oil
of the OMV Petrom executive board, management rights in the company. MOL is re-refined in Europe. This amount falls to
responsible for downstream oil. has long been at odds with the Croatian between 10% and 15% in North America. In
The process of replacing the coke drums government, the other big stakeholder in Turkey, it is estimated by Petder to be as little
will take place between 2021 and 2023; INA over its management and investment as 7%.
approximately €11mn will be invested this policies.
year. Croatia’s government first announced its

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