McDermott International has been awarded a technology contract by Naftna Industrija Srbije (NIS) for the modernisation of its existing Fluid Catalytic Cracking (FCC) unit to be implemented at their refinery in Pancevo, Serbia. As part of this project, McDermott's Lummus Technology will provide the license and basic engineering for the Indmax FCC technology and a grassroots CDEtbe® unit for production of bio ethanol base Ethyl Tertiary Butyl Ether (ETBE). The state-of-the-art Indmax FCC technology, which was jointly developed by Indian Oil Corporation (IOCL) and Lummus, will shift the yield of the existing FCC unit toward production of valuable olefins and higher-octane naphtha. Part of the olefins will be converted with bio-ethanol to ETBE …

Gibson has sanctioned the construction of two new 500,000 barrel tanks at the Top of the Hill portion of the Hardisty Terminal. The additional tankage represents an expansion of the fourth phase of development at the Top of the Hill, which will be placed into service by the end of 2020. The new tankage will be constructed at a capital cost consistent with the Company’s target build multiple of 5x to 7x EBITDA under long-term, take-or-pay and stable fee-based contracts. One of the tanks is contracted to a new investment grade refining customer, while the second tank will be leased to Gibson’s Marketing segment under an intercompany agreement with the Infrastructure segment. “The sanction of two new tanks at the Top of the Hill will further …

Construction of the quay walls, the jetty and associated works for the HES Hartel Tank Terminal (HHTT) were completed on schedule. The HHTT Consortium, comprising Van Hattum and Blankevoort (Koninklijke VolkerWessels), Mobilis (TBI) and Boskalis Nederland, has handed over the construction site to its client, the Port of Rotterdam Authority.  This contract involved a total amount of over €100 million. The HHTT Consortium started constructing this challenging project on Maasvlakte in December 2017. The project comprises the construction of a 1,200-metre-long deep-sea quay wall and the connection of the new quay to the existing quay, a quay wall over a length of 1,000 metres for five inland vessels, complete with shore power, and a 350-metre …

Puma Energy Asia Pacific B.V. has announced the sale of its Australian commercial and retail fuels business to Chevron Australia Downstream Pty Ltd, for a purchase price of AU$425 million.   The transaction is expected to complete by mid-2020.  Puma Energy’s priority is to ensure a transparent and seamless transition of operations to Chevron for all employees, customers and business associates in Australia, it says. The Puma Energy bitumen business in Australia is not impacted by this transaction and Puma Energy will continue to invest to enhance its service to bitumen customers.  Puma Energy expects to use the proceeds of the sale to pay down debt, in line with the Company’s capital structure policy.  Emma FitzGerald, CEO of Puma Energy, …

Aramco Overseas Company B.V. (AOC), a subsidiary of Saudi Aramco, has completed the acquisition of 17 per cent of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately $1.2 billion. The investment in South Korea’s Hyundai Oilbank supports Saudi Aramco’s Downstream growth strategy of expanding its global footprint in key markets in profitable integrated refining, chemicals and marketing businesses which enable Saudi Aramco to place crude oil and leverage its trading capabilities. Hyundai Oilbank is a private oil refining company established in 1964. The Daesan Complex, where Hyundai Oilbank’s major facilities are located, is a fully integrated refining plant with a processing capacity of 650,000 barrels per day.  The bus…