Page 13 - DMEA Week 25.pdf

DMEA
neWS In brIef
DMEA
CeO Amin H. Nasser.
e inauguration also included the signing
of a Memorandum of Understanding between the two companies to collaborate on a Us$6 billion steam Cracker & Ole n Downstream Project which is expected to be completed by 2024. e new world class steam cracker will produce ethylene and other basic chemicals out of naphtha and re nery o -gas.
is new agreement supports saudi Aramco’s plan to increase its global petrochemicals footprint over the next decade. It will further include the deployment of
saudi Aramco’s ermal Crude-to-Chemicals Technology, shi ing s-OIL’s focus from “oil to chemicals” to better position the company in the future energy market.
Aramco Overseas Company is a major shareholder in s-Oil which is south Korea’s third-largest re ner.
saudi Aramco initially invested in s-Oil in 1991, and their relationship continues to grow stronger, with the re ning capacity increasing from 90 thousand bpd in 1990 to roughly 700 thousand bpd in 2018.
SaUDI aramCo
refInInG
Iranian refining capacity increases
Deputy Oil Minister for re ning and Broadcasting News: since June, the average re ning of crude oil and gas condensate has reached 2 million and 150 thousand barrels a day.
Alireza sadegh Abadi, the national oil re neries and re neries company, said the country’s re ning capacity reached 1.5 million barrels in the rst quarter of 2009, to 2 million and 150 thousand barrels a day, adding that this e rate is rising and will reach 2,400,000 barrels a day by the end of this year.
He emphasized that with plans for 850,000 barrels of crude oil and gas condensate, which could have prevented entry into the global markets by Us unilateral sanctions, it would be re ned inside the country and turned into higher value added products.
nIorDC
Expansion of PGSR on track
Construction work is over on the rst stage of the fourth phase of Persian Gulf star re nery in southern Hormozgan Province, chief executive o cer of the National Iranian Oil re ning and Distribution Company said Tuesday.
“ e project has raised the re nery’s condensate processing capacity by 40,000 barrels or 11%,” Alireza sadeqabadi was quoted as saying by IrNA.
An estimated 400,000 barrels per day of gas condensate is supplied to the complex from the giant south Pars Gas Field o the Persian Gulf, he said.
Phase four has increased PGsr’s processing capacity by 120,000 bpd and NIOrDC is now re ning half a million barrels of condensates per day.
SHana
Week 25 26•June•2019
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