Page 13 - DMEA Week 45

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KIPIC is a subsidiary of Kuwait Petroleum Corporation (KPC) set up by the State of Kuwait to manage refinery, petrochemicals and LNG import operations at the Al-Zour complex.
honeyWell
West coast refinery is a reality: Pradhan
Political stalemate continues in Maharashtra
- the Indian state where a mega oil refinery is planned in partnership with Adnoc and Saudi Arabia’s Aramco.
On tuesday, the state was placed under the President’s rule as no political party, including the Narendra Modi-led BJP, succeeded in forming the government.
Will the political instability hurt India’s crucial project? however, Indian Minister of Petroleum and Natural Gas Dharmendra Pradhan allayed such fears.
“I don’t think. West Coast refinery is a reality. India needs that refinery and we will be moving ahead with that project. I had a long discussion with (Adnoc Group CEO and UAE Minister of State) Dr Sultan Al Jaber on this issue. We are confident. We will do that,” Pradhan told Khaleej times in an exclusive chat and said work on a formal deal is going on.
Apart from Dr Jaber, Pradhan held
array of meetings with ministers from the UAE, Oman, Saudi Arabia, Opec secretary- general Mohammed Barkindo and heads of energy companies at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). he clarified there weren’t any major announcements coming from each meetings but these were done more for ‘continuity’ as India made efforts to move towards a gas-based economy.
“India has plans to implement $100 billion
of energy infrastructure. For this you need affordable technology, good people, new models and ideas, and these are places to get that. Adipec is becoming more happening part of the oil and gas industry. Due to our geographical proximity we are one of the beneficiaries. These are for continuity.”
The minister said that such meetings with chiefs of energy firms serve as an invitation to invest in the country. “I invited Vitol Group to invest in the entire spectrum of oil and gas value chain, especially in the area of biofuels and fuel retailing and partner in the India’s growth story.”
Pradhan noted that companies in energy business are looking towards India, especially because of recent corporate tax cuts, ease
of doing business and liberalisation of fuel retailing norms.
“Growth in energy industry is only in India. The country is number three consumer in the world. By next decade we will be number one consumer. Our per capita energy consumption is very low, its’ one-third of the world average. It is gradually increasing.”
he underlined that Modi stresses on need to eliminate energy poverty and have energy justice. Affordability, accessible, sustainability and energy security are the four pillars of energy justice strategy.
“India’s engagement with the rest of the world increased manifold in the last five years in securing the energy future based on the four pillars of energy envisioned by PM Modi.”
Pradhan added that the aim of his visit is also to look into the possibility of exporting steel to Middle East. “We want to create India as a manufacturing hub. Not only raw steel, manufacturing goods, using our steel capability how we can create a network is one of our agenda.”
KhaleeJ times
SA sees new Saudi-backed refinery onstream by 2028
South Africa’s Central Energy Fund (CEF), partnering with Saudi Aramco, expects a proposed new 300,000 barrel per day crude oil refinery along South Africa’s east coast to come onstream by 2028, making it the region’s largest refinery, CEF’s acting group chief executive said on Thursday.
Work on the project is still at an early stage, but indications are that it would cost in the region of $10 billion, said Kholly Zono, adding this cost excluded the development of a related petrochemical complex at Richards Bay.
Former Saudi Energy Minister Khalid al- Falih announced the project in January, ahead of plans by Saudi Aramco, the world’s biggest oil firm, to list its shares.
“We are comfortable we have a very solid business case to attract investment and funding from bankers,” Zono told Reuters on the sidelines of an oil and gas conference in Cape town.
“This refinery will not only increase capacity for South Africa but also the region,” he said, adding it would be funded through a mix of debt and equity.
A pre-feasibility study will be completed in the next few weeks, after which a more detailed feasibility study will firm up the design and capital cost estimates, followed by front-end engineering and design.
“We are looking at the refinery becoming operational by 2027/28.” Zono said.
The new refinery would reduce the need for refined product imports and cement Saudi Arabia’s dominant position in South Africa’s oil sector. The Gulf kingdom already supplies around 40 percent of the crude oil consumed in South Africa, which is a net importer of petroleum products.
Week 45 14•November•2019
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