Trafigura has announced that it will invest US$ 130 million in the Nagarjuna Oil Corp Ltd refinery in Southern India. In return the company will receive a 24% stake that was previously held by BP and will replace BP as the plant’s crude oil supplier. This is Trafigura’s first investment in Asia.
The Numaligarh refinery will be taken offline next week as planned maintenance has been brought forward due to the fire that broke out at the facility on Saturday. The maintenance has been brought forward by 5 days and is expected to last approximately 20 days. The plant has a processing capacity of 60 000 bpd.
Mangalore Refinery & Petrochemicals Ltd has said that parts of its refinery will be taken offline due to water shortages. The company will take two phases offline amounting to 67% of the plant’s refining capacity. The area will now be short of 202 000 bpd due to this closure.
The startup dates for Kuwait’s downstream investments in plants were announced at the Gulf Petroleum Conference. The country is investing in refining and petrochemical projects in China and Indonesia, which will come online in 2015 and 2017. It was also announced that Kuwait is considering investing in a project in Vietnam.
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