Page 7 - LatAmOil Week 24 2022

LatAmOil MEXICO LatAmOil

The parties will operate the facility, which will eventually to meet all of Etileno XXI’s demand
allow BI to import enough ethane to cover all of for ethane through the construction of the per-
its needs, as a joint venture, it said. manent terminal in Veracruz. That $400mn
Advario’s shareholders will have to approve facility will be able to handle another 60,000-
the deal, in which equity will be split 50:50 65,000 bpd of ethane, according to previous
between BI and the Dutch company, Braskem reports.
added. It did not indicate when that milestone BI had previously depended on ethane
might be met. supplies from Pemex. However, the NOC sus-
The Brazilian company went on to say that it pended deliveries to Etileno XXI in late 2020,
expected to begin building the full terminal in when the parties fell into dispute over pricing
the second half of 2022. Work on the engineer- issues in late 2020. ™
ing studies for TQPM is proceeding favourably,
it commented, and BI had already secured all of
the necessary corporate approvals from credi-
tors and shareholders as of last year to begin
moving ahead with ethane supply and terminal
construction contracts from Pemex, Mexico’s
national oil company (NOC), it added.
BI has already built temporary import facil-
ities in Veracruz that are capable of handling
about 20,000 bpd of ethane imports for delivery
to Etileno XXI, a polyethylene plant that is part
of the company’s Nanchital petrochemical com-
plex in Veracruz state. For the moment, Pemex is
covering the plant’s remaining needs, delivering
another 30,000-40,000 bpd of ethane.
The Brazilian-Mexican venture hopes Rendering of TQPM ethane import terminal (Image: Braskem Idesa)

VENEZUEL A
Iran, Venezuela sign 20-year co-operation

accord during Maduro’s visit to Tehran

IRANIAN President Ibrahim Raisi and his to Venezuela will be provided to Iranians that
Venezuelan counterpart Nicolas Maduro have arrive on local airlines.
signed a 20-year agreement on co-operation in The news of the agreement followed reports
fields including oil and petrochemicals, Mehr of Iran handing over an oil tanker to Venezuela.
news agency reported on June 11. Documents on the transfer of the tanker were
The signing ceremony was held in Tehran signed in Tehran in the presence of Raisi and
in the Saadabad palace complex, home of the Maduro. Local reports said the tanker was 250
former Shah of Iran, during the first visit of the metres by 44 metres and 21 metres in height,
Venezuelan leader to the Islamic Republic. with an oil-carrying capacity of 800,000 barrels.
Raisi called the countries’ relations and soli- The tanker was provided as part of an agree-
darity “strategic.” Both countries remain heavily ment under which Iran is to build four tankers
sanctioned by the US. Iran in recent years has for Caracas. ™
put considerable effort into helping parts of
Venezuela’s sanctions-impacted oil industry get
back up on their feet.
As well as the assistance provided in the field
of oil, Raisi mentioned plans for Iran to trans-
fer technology and technical support to assist
Venezuela’s economy, defence and agriculture.
There is some concern in the US about Iran pro-
viding Venezuela with unmanned aerial vehicles
(UAVs), given their potential use by the military.
The Iranian president also spoke about the
launch of direct flights from Tehran to Caracas,
which is set to start on June 18. Visa-free entry Maduro (L) and Raisi (R) speak to reporters in Tehran (Photo: Press TV)

Week 24 16•June•2022 www. NEWSBASE .com P7