Federal Court of Accounts, Tribunal de Contas da Uniao (TCU).
In order to comply with procedures as set forth by Petrobras’s 2017-21 strategic plan as well as TCU’s Mar. 15 ruling on
the company’s revised divestment methodology, any potential
opportunities to sell the refinery will individually be submitted
to the company’s executive board, and if approved, will be disclosed to the market in a timely manner, according to separate
releases from Petrobras and Brazilian government.
Petrobras’s newly approved divestment portfolio now seeks
to raise $21 billion in 2017-18, up from the previously estimated target of $19.5 billion under the company’s original 2017-21
strategic plan issued in September 2016.
ExxonMobil to buy aromatics plant in Singapore
ExxonMobil Chemical Co.’s Singapore affiliate has agreed to
acquire a 1.4 million-tonnes/year aromatics plant on Jurong Island in Singapore from Jurong Aromatics Corp. Pte. Ltd.
Once the deal closes, which is expected in this year’s second
half, the plant will increase ExxonMobil’s Singapore aromatics
production to more than 3. 5 million tpy, of which 1.8 million
tpy will be paraxylene.
Singapore is home to ExxonMobil’s largest integrated refining and petchem complex, which has an oil processing capacity
of 592,000 b/d and includes two world-scale steam crackers.
Singapore’s integrated petrochemical complex can process a
wide range of feedstocks, from light gases to crude oil. Later this
year, the complex will begin the phased startup of 230,000-tpy
specialty polymers facilities that will produce halobutyl rubber
and performance resins for adhesive applications.
The company earlier this year approved a project at the complex to expand production of high-quality lubricant base stocks
(OGJ Online, Feb. 13, 2017).
LyondellBasell breaks ground on La Porte HDPE plant
LyondellBasell Industries NV has started construction of a
grassroots high-density polyethylene (HDPE) plant at its petrochemical complex in La Porte, Tex. (OGJ Online, July 29, 2016).
Scheduled for startup in 2019, the proposed 1.1 billion-lb/
year HDPE plant will be the first ever to use LyondellBasell’s
proprietary Hyperzone PE technology, a cascade-gas phase
process based on the company’s existing Multizone circulating-reactor technology, LyondellBasell said.
Part of LyondellBasell’s $3-5 billion investment plans for in
growth projects at the US Gulf Coast over the next 5 years, the
new plant, once completed, will more than double the La Porte
complex’s annual HDPE capacity to 2 billion lb/yr (OGJ Online,
Sept. 9, 2016).
The company said it selected its La Porte site for the new
plant because of the complex’s proximity both to price-advan-taged feedstock from increased North American shale production and transportation infrastructure needed to ship product
to global markets.
A final investment decision on development of a separate
project to build the world’s largest propylene oxide (PO) and
tertiary butyl alcohol (TBA) plant at LyondellBasell’s Channel-
view complex is scheduled for some time during this year’s sec-
ond half, the company said.
If completed, the PO-TBA plant would produce about 1
billion lb/year of PO and 29,000 b/d of oxyfuels beginning in
2020 (OGJ Online, June 3, 2016).
Earlier this year, LyondellBasell completed a project to expand ethylene capacity by 800 million-lb/year to 2. 5 billion lb/
year at its complex in Corpus Christi, Tex. (OGJ Online, Jan.
TRANSPORTATION QUICK TAKES
Firms partner on Canadian propane export terminal
Koninklijke Vopak NV and AltaGas Ltd. have formed a joint
venture to invest in development of the proposed Ridley Island
propane export terminal (RIPET), near Prince Rupert, BC (OGJ
Online, Oct. 24, 2016).
To be the first propane export terminal off Western Canada. the project will have a design capacity to ship 1.2 million
tonnes/year of propane plus NGL mix (C3+), as well as a storage
capacity of about 96,000 cu m, the companies said.
Vopak, whose investment is underpinned by long-term customer contracts and is fully aligned with its long-term strategic
focus on gas storage and handling, will take a 30% ownership
interest in RIPET, while AltaGas will hold the remaining 70%
With regulatory and permitting processes for the project already under way, the proposed $450-500-million (Can.) RIPET
will be built on a brownfield site subleased from Ridley Terminals Inc. (RTI) that features existing rail lines and RTI’s existing marine jetty, which offers deepwater access to the Pacific
As currently planned, the export terminal will receive about
50-60 railcars of C3+ from across British Columbia and Alberta
via the existing CN rail network and be equipped to export
between 20-30 cargoes/year of C3+ to destinations abroad, offering Western Canadian propane producers new markets, particularly in Asia Pacific.
The terminal’s location will allow a 10-day shipping time
to Asian-Pacific markets vs. a 25-day travel time from destinations at the US Gulf Coast, the companies said.
AltaGas, which previously completed front-end engineering
and design on the project, already has received approval from
Canada’s National Energy Board for a 25-year license to export
up to 1.35 million tpy of C3+.
With project construction scheduled to begin this year, the
companies said they expect RIPET to be commissioned in first-quarter 2019.
As part of the new JV, AltaGas and Vopak also plan to explore other opportunities separate from RIPET to expand their
relationship on Ridley Island, where both companies hold additional land rights.