The US subsidiary of Venezuela’s state-owned oil frm PdV, Citgo, has finalised a deal with the government of Aruba to convert a mothballed refinery on the island into an extra- heavy crude upgrader over the next two years. US independent Valero shut the 280,000 b/d refinery in 2012 after cheap natural gas and crude supplies in the US Gulf coast made the facility unproftable. The refinery produced distillates and intermediate products such as vacuum gasoil (VGO) mostly for export to the US Gulf coast for further refin- ing, rather than finished products, and relied on more costly power generation at the time. It also produced about 1.4mn t/ yr of 6.3pc sulphur, 45 HGI petroleum coke.
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