June 25, 2010 at 3:31 pm #2612
Kazmunai may sell refinery to TNK-BP for $600 mln
Reuters – Saturday, June 26
MOSCOW, June 25 – Kazakh state oil and gas company KazMunaiGas is in talks to sell half of Kazakhstan’s largest oil refinery, Pavlodar, to TNK-BP Russian oil venture, industry sources told Reuters.
“The acquisition of Pavlodar refinery by TNK-BP is a done deal. The contract will be signed this autumn,” a source close to KazMunaiGas told Reuters on Friday.
The refinery, built in Soviet times, can process up to 7.5 million tonnes of oil a year and is linked to pipelines in neighbouring Russia.
KazMunaiGas said earlier this month it was in talks with Russians over a possible stake sale.
Last week, the head of the sovereign wealth fund Samruk-Kazyna told Reuters that Kazakhstan is ready to cut stakes in key companies to modernise the economy and is looking to sell banks and energy assets in the next five years.
(Reporting by Alla Afanasiyeva; writing by Vladimir Soldatkin; editing by Dmitry Sergeyev)
June 25, 2010 at 3:33 pm #5565
Here is update article on Kazakhstan’s largest oil refinery (Pavlodar) being sold to Russia’s TNK-BP. New ownership might see some investments (its on Kazakhstan Governments recent Integrated Oil Refinery Investment Plan for 2009-2015).
The refinery was built in 1978 and has a ~12MBD coking unit ~1986 vintage and I believe a calcining kiln. The steam reformer had couple FW Air Preheaters installed in 2005 so it is possible a coker revamp might have occurred during other Russian/former CIS coker project upgrades.
The refinery has had several labels: KazMunaiGas/Kazakh Oil/PNCHZ/JSC and state ownership has been transferred back & forth to several state groups as well – some of it get around US CCL Oil investment & 5 year lease/development of the plant.
The plant used run mostly on Russian Crude & even had close several months (Sep 1996-Apr 1997) when supply was cut off until LukOil supplied some cargoes. Pavlodar discovered nearby oil reserves in 1998 which now supply the refinery.
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