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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 16 years, 11 months ago.

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  • #4237


    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

    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. 

    Charlie Randall

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