Page 11 - MEOG Week 17

MEOG ProJeCts & ComPanIes MEOG
Jebel Ali refinery expansion nears end
Uae
thE UAE’s state-owned Emirates National Oil (ENOC) is near to finishing its expansion of the Jebel Ali condensate refinery, a project worth more than $1bn, contractor technipFMC has said on social media.
The expansion will raise the Dubai plant’s processing capacity from 140,000 to 210,000 barrels per day. technipFMC served as engi- neering, procurement and construction (EPC) provider for the project’s new 70,000 bpd con- densate train, an LPG-naphtha hydrotreater, an isomerisation unit, a kerosene hydrotreater and diesel hydrotreater. It did not disclose a time- frame for its commissioning.
Among other contractors involved in the project is Singapore-based Rotary Engineering, which was selected to build 12 tanks to expand the facility’s storage capacity.
The UAE is striving to become self-sufficient in fuel. The population of Dubai alone is expected to reach 5.2mn by 2030, from 2.5mn at current, and ENOC has said it will continue investing in key projects to cover the UAE’s growing fuel con- sumption. It also wants to expand its slate of oil products available for export.
The expansion was originally slated to start production in the fourth quarter of 2019. Once complete, Jebel Ali will be able to manufacture Euro-5 standard gasoline, jet fuel and diesel.
Built in 1999, Jebel Ali is the smallest of the UAE’s processing plants. the country’s other refineries include Ruwais and Um al-Nar in the Abu Dhabi emirate, and additional plants in the emirates of Sharjah and Fujairah. National refin- ing capacity was estimated by BP at 1.23mn bpd at the end of 2018.™
Aramco considers $10bn pipeline stake sale
Uae
SAUDI Aramco, the world’s largest oil producer, has hired advisers to review a potential multi-bil- lion dollar stake sale in its pipeline business, peo- ple with knowledge of the matter said.
The energy giant is working with JPMorgan Chase & Co. as it makes early preparations for the potential deal, according to the people, who asked not to be identified because the informa- tion is private. Mitsubishi UFJ Financial Group Inc. also has a role on the transaction, the people said.
Aramco hasn’t yet started a formal sale pro- cess, the people said. It may wait until market turmoil caused by plunging oil prices and the impact of measures to halt the spread of the coro- navirus eases before it begins soliciting interest in the asset, they said.
Chairman Yasir Al-Rumayyan is looking
for ways to raise money from assets that are not central to the company’s operations. A sale could raise more than $10 billion, people familiar with the matter said last month.
Aramco, JPMorgan and MUFG declined to comment.
The review comes amid a similar move by Abu Dhabi National Oil Co., which is seeking to attract investors to its $15 billion gas pipeline after selling a portion of its oil pipelines for about $4 billion last year.
Saudi Arabia may slow production sooner than planned after U.S. oil futures this week plunged below zero for the first time, Bob McNally, founder of consultant Rapidan Energy Group said on tuesday. The kingdom agreed to cut output from May 1 as part of the drive by pro- ducers to re-balance an oversupplied market.™
PIPeLInes & transPort
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