BP to expand petrochemical presence in South Korea
BP and Lotte have agreed a major expansion of production capacity at their JV Lotte BP Chemical Co. Ltd facility in Ulsan, South Korea.
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BP and Lotte have agreed a major expansion of production capacity at their JV Lotte BP Chemical Co. Ltd facility in Ulsan, South Korea.
Around 140 planned and announced plants are scheduled to come online during the forecast period.
The expansion enables full production of 50 million gal./yr of biodiesel and bio-oil.
Europe is expected to add two gas processing plants by 2022.
An overall decrease in loading volumes for 2018 is mainly the result of the lower quantities of light oil products from ORLEN Lietuva refinery, the company stated.
The company will potentially sell its Canadian retail and commercial fuels business and its Prince George Refinery.
After expected completion in 2Q19, the Redcliff Plant’s processing capacity will have been increased by 20%.
The companies will carry out work at Tupras’ Izmir refinery.
The meetings begin an intensive effort to complete the FEED of the refinery located in Belfield, North Dakota.
UNIPOL PP Process Technology will be used for a new 400 000 tpy facility in Daesan, South Korea.
The group’s refined oil sales reached 40 million t for the first time, while chemicals marketing volume also rose from the previous year.
The company’s second facility in the US comes in response to increasing market demand.