Petronas-Aramco Refinery in Malaysia Restarts After 2 Year Closure - Source
05.16.2022 By Ricardo Perez - NEWS

May 15, 2022 [Today] – A 300,000 barrel-per-day refinery-petrochemical complex in Malaysia run as a joint venture between Petronas and Saudi Aramco has restarted after a more than two-year closure, a source with knowledge of the matter said.

 

The complex in Pengerang, Johor, is resuming operations at a time when refining margins in Asia are at record levels, buoyed by a fuel demand recovery as more economies across Asia, except for China, ease COVID-19 restrictions.

Low inventories of oil products globally and a drop in fuel exports from Russia following the Ukraine crisis are also underpinning prices.

The joint venture, Pengerang Refining and Petrochemical (PRefChem), did not respond to a request for comment.

PRefChem was shut in March 2020 following a deadly fire. Its resumption has been delayed from last year for the entire plant to undergo detailed checks, at a time when fuel demand and refining margins were still being hit by COVID-19 lockdowns.

The refinery, which restarted last week, is processing existing crude from storage tanks, which will then be followed by supplies from Saudi Aramco, two more sources said.

It is expected to take some time before operations can return to full rates, the sources said.

Pro Trial: Access 10,390 Tank Terminal and Production Facilities

10,390 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Enagas Says LNG Backlog at Spanish Ports Has Eased
11.25.2022 - NEWS
November 25, 2022 [Reuters] – Spanish gas grid operator Enagas (ENAG.MC) said on Friday a bac... Read More
Stolthaven Terminals and Deloitte Partner on a Decarbonisation Pilot
11.25.2022 - NEWS
November 25, 2022 [Port News] – Stolthaven Terminals has partnered with Deloitte to test an inn... Read More
CO2 Import Terminal To Open At Port of Immingham
11.25.2022 - NEWS
November 25, 2022 [Port News] – A new carbon dioxide (CO2) terminal is to be built at the Port ... Read More
Italy Govt To Oppose Piombino City Appeal Against New LNG Terminal
11.25.2022 - NEWS
November 25, 2022 [Reuters] –  Italy’s government will fight the judicial appeal by the ... Read More