May 16, 2011 at 10:27 am #2263
Ecopetrol Sanctions $3.4 Bln Phase 3 Modernization Of Barrancabermeja Refinery
5/16/2011 (RTTNews) – Colombia’s state-run oil company Ecopetrol S.A. approved Sunday a $3.39 billion investment on phase 3 of the Modernization Project of the Barrancabermeja Refinery or PMRB. The refinery modernization is expected to improve the refinery’s profitability and increase the availability of products such as gasoline and diesel.
The Barrancabermeja refinery, which supplies nearly 80% of the fuels consumed in Colombia, is located in the department of Santander and has a crude processing capacity of 250,000 barrels per day. Following the modernization, The refinery will supply the entire Colombian market without the need for any imports.
The phase 3 of the modernization at the country’s largest refinery will now officially begin and the refinery is scheduled to commence operations in 2016. The project will enable the refinery to increase the conversion factor to 95 percent from 76 percent.
The modernization of the refinery is expected to improve the quality of fuels and to increase the feed of heavy crudes. It will also join a select group of Latin American refineries that use cutting-edge technology for its operations.
Ecopetrol also noted that the modernization project at the refinery will see greater employment in the region and the country along with the training of skilled local labor and contracting of goods and services as well as greater tax revenues.
Ecopetrol is Colombia’s largest integrated oil & gas company, the fourth largest oil company in Latin America, and one of the top 40 oil companies in the world. The company accounts for 60 percent of the total production in Columbia. Its exploration and production activities are in Brazil, Peru and the U.S. Gulf Coast.
EC closed Friday’s regular trading session at $43.26, down $0.19 or 0.44 percent on a volume of 0.38 million shares.
May 16, 2011 at 10:33 am #5083
Here is update on the approval of ~$4 Billion Ecopetrol Barrancabermeja Refinery Expansion which includes the addition of coker (Foster Wheeler license/technology) but was not mentioned. Startup is now projected for 2016.
Ecopetrol is also doing an expansion at Cartagena Refinery with coker addition as well but it will be CBI-Lummus technology with Foster Wheeler doing the EPC on coker.
Others estimate petcoke from domestic inland sweet crude at both refineries could be as low as 1.5-3%S making it anode grade but designs call for also using imported Venezuela or Domestic offshore crudes which will eventually take it to fuel grade at +4.5%S petcoke.
May 16, 2011 at 2:04 pm #5081
Sorry – I have a Correction: Foster Wheeler isn’t doing Reficar/Ecopetrol Cartagena Coker EPC. Foster Wheeler is PMC for entire project but not EPC on coker.
(makes more sense since FW & Lummus are coking technology competitors).
August 9, 2011 at 10:59 am #4980
Foster Wheeler Gears up for Second Phase of the Barrancabermeja Refinery Modernization Project
Foster Wheeler (NASDAQ: FWLT) today announced that its Global Engineering and Construction Group has been released to perform the second phase scope for an existing contract with Ecopetrol S.A. for the Project for the Modernization of the Refinery in Barrancabermeja (PMRB) in Colombia. This release includes additional project management consultancy (PMC) and front end engineering design (FEED), detailed engineering for the crude unit revamps, assisting Ecopetrol in the selection process for engineering, procurement and construction (EPC) contracts, and control and supervision of the EPC and construction contractors.
<No news update on coker aspect project?>
You must be logged in to reply to this topic.