July 19, 2008 at 4:24 pm #3525
Egypt’s Midor leases 50 pct of refinery to BP
Reuters – Wednesday, July 16
DUBAI, July 15 – Egypt‘s Middle East Oil Refinery has leased 50 percent of capacity at its 100,000 barrels-per-day plant in Alexandria to BP for 6 months from July, Midor’s chairman said on Tuesday.
BP will market half of the jet fuel produced at the refinery during that time, Midor’s Medhat Youssef told Reuters. Midor reserves the right to buy all other products such as gasoline and diesel from BP, he added.
“The lease begins from July and will last for the period of 6 months,” Youssef said. Jet fuel supplies from Midor — located on the Mediterranean coast — typically flow to Northwest Europe and the Mediterranean.
Around a fifth of Midor’s refined products output is being consumed in the domestic market. Midor plans to boost capacity to 130,000 bpd by 2011 to meet rising domestic demand, Youssef added. Midor has already awarded the construction of the expansion to contractors, he said.
The state-run Egyptian General Petroleum Corp owns 78 percent of the refinery. EGPC subsidiaries Enppi and Petrojet each own 10 percent. Suez Canal Bank owns the remaining 2 percent
July 19, 2008 at 4:35 pm #6708
Here is update on Midor Coking Refinery that shows it has leased 50% capacity to BP for 6 months.
Not sure details but seems to match up with BP’s Egyptian offshore Saqqara field find ~2003 of 40-50 MBD (one largest increases since 1989). Midor represents a large portion of the crude imports since it cannot run the Egyptian crudes.
Article mentions the Midor expansion to 130 MBD by 2011 and I am sure it includes the coker debottlenecking as well – not sure if there is coke drum replacement scheduled. I believe original Midor EPC that COP supplied Coker Technology in 2002 ( Foster Wheeler & Techniq were doing some of the FEED & EPC work as well).
Although not mentioned here the Egyptian Refinery Company (EPC) plans to add 2 new Grassroots refineries and expand 5 of the 8 refineries they control (all but Midor). A FEED / Project Design phase is underway on the Cairo Refienery Co at Mostorod that will add a Hydrocracker and a new coker – project cost in June 2008 increased from $2B to $3B for this expansion. It is likely that ConocoPhillips will do the Coker Technology for the project.
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