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Petrom Invests $50M in Romanian Refinery

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This topic contains 1 reply, has 2 voices, and was last updated by  Charles Randall 15 years, 7 months ago.

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  • #4237

    Anonymous

    AP -Oil Producer Petrom Invests $49.8 Million in Romanian Refinery
    Tuesday February 28, 8:40 am ET
     

    BUCHAREST, Romania (AP) — Austrian-owned OMV-Petrom, the country’s largest oil company, said Tuesday it was investing euro42 million (US$49.8 million) in one of its refineries to allow the facility to produce greater quantities of low-sulfur fuels.
     
    The investment in the Arpechim plant in the southern city of Pitesti will produce 1.2 million tons of low-sulfur fuel a year. South Korean company SK&EC-LG International will build the new installation at the refinery according to an OMV-Petrom statement.
     
    The company plans to invest some euro1 billion (US$1.19 billion) to modernize its two refineries of Petrobrazi and Arpechim by 2010.
    OMV-Petrom, which is the largest refining operator in Romania, with a refining capacity of 8 million tons per year, the release said.
     
    In 2004, then state-owned oil company Petrom was sold to Austrian group OMV AG for euro1.5 billion (US$1.8 billion).

  • #7644

    Charles Randall
    Participant

    Petrom is going to spend $1B Euro to modernize its Petrobrazi & Arpechim refineries by 2010.  The Petrobrazi refinery already has a 13 MBD coker that makes ~80kMT/yr of petcoke but the Arpechim does not.  Romania’s 9 refineries have 6 that are coking refineries a high percentage (but all less than 300 kMT/yr each in petcoke production).

    So it would seem likely that the large investment by Petrom will likely have either coking expansion or additon plans in its modernization scheme. 

    Regards
    Charlie Randall

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