• 1 hour India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 6 hours Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 10 hours Russia, Saudis Team Up To Boost Fracking Tech
  • 16 hours Conflicting News Spurs Doubt On Aramco IPO
  • 17 hours Exxon Starts Production At New Refinery In Texas
  • 19 hours Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 2 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 2 days VW Fails To Secure Critical Commodity For EVs
  • 2 days Enbridge Pipeline Expansion Finally Approved
  • 2 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 2 days OPEC Oil Deal Compliance Falls To 86%
  • 2 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 3 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 3 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 3 days Aramco Says No Plans To Shelve IPO
  • 5 days Trump Passes Iran Nuclear Deal Back to Congress
  • 5 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 6 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 6 days Chevron Quits Australian Deepwater Oil Exploration
  • 6 days Europe Braces For End Of Iran Nuclear Deal
  • 6 days Renewable Energy Startup Powering Native American Protest Camp
  • 6 days Husky Energy Set To Restart Pipeline
  • 6 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 7 days India Needs Help To Boost Oil Production
  • 7 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 7 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 7 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 7 days District Judge Rules Dakota Access Can Continue Operating
  • 8 days Surprise Oil Inventory Build Shocks Markets
  • 8 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 8 days Syria’s Kurds Aim To Control Oil-Rich Areas
Alt Text

Gold Prices Could Spike As India Resumes Imports

Gold purchases in India imploded…

Alt Text

Copper Prices Ignited By Chinese Demand Growth

Copper prices saw some gains…

Alt Text

Will Ecuador’s Mining Sector Return To Its Golden Days?

Despite the recent political problems…

BP Launches $4.2 Billion Modernized Refinery in Indiana

BP Plc has started up a $4.2 billion oil conversion processing unit that represents the largest private sector investment in the history of the state of Indiana.

The oil giant says the project at the Whiting facility will deliver some $1 billion of operating cash flow annually, and the total cost included $400 million in federally mandated pollution controls with state-of-the-art water treatment and air emissions technology.

According to BP, the 102,000-barrel-per-day unit will largely process heavy crude, including Canadian bitumen, into gas oils for use in gasoline and into petroleum coke for use in overseas energy production.

This is the culmination of modernization efforts ongoing since 2008 with the goal of increasing the facility’s capacity to process more Canadian heavy crude while at the same time cutting down on emissions. When the project began, the BP facility could only process 20% heavy sweet crude and now its capacity is 85%.

Spurring this project is a boom in production of heavy sweet crude in the Dakotas and Canada.

Related article: Exxon Makes a Move We Haven't Seen in 40 Years

Iain Conn, chief executive of BP’s downstream segment, said that depending on market conditions, the refinery now has the potential to create an additional $1 billion in operating cash flow each year.

“The safe start-up of this world-scale coker is the last major step in unlocking the full potential of the Whiting Refinery for our shareholders,” Conn said in a statement issued Wednesday.

The massive Whiting facility refinery runs along the Lake Michigan shoreline in Whiting, Hammond and East Chicago.

BP is also working on modernizing other refineries, including one in Chery Point, Washington and another in Toledo, Ohio.

By. Joao Peixe of Oilprice.com




Back to homepage


Comments currently closed.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News