August 26, 2014

10 Billion Bitumen Refinery

Stockwell Day has joined the leadership team of a Vancouver company that's planning to build a $10-billion oilsands refinery on the West Coast.

The former politician, who has held high-profile cabinet posts in the federal and Alberta governments, has been hired as a special adviser at Pacific Future Energy Corp. and will sit on its board of directors. He'll also head an arms length advisory council that's expected to be formed over the next few months.

"I've been very gratified that I've been involved in a number of projects since leaving politics, but this has to be right up there in terms of something that's exciting for me," Day said in an interview from Vancouver.
He said the proposed refinery, which bills itself as the world's greenest, could be a "legacy project for Canada."

Oilsands producers have been keen to access lucrative Asian markets, but stiff opposition to proposals such as Enbridge Inc.'s (TSX:ENB) Northern Gateway pipeline has put a damper on those ambitions. One of the biggest environmental concerns has been the prospect of bitumen-laden tankers navigating coastal waters.
The Pacific Future proposal -- along with others being floated by B.C. newspaper magnate David Black and aboriginal businessman Calvin Helin -- would mean refined products, rather than heavy oil, would be shipped on tankers to Asia, making a potential spill less damaging.

Day's political experience spans the two provinces with the most at stake when it comes to West Coast energy exports. After his time in Alberta's Progressive Conservative government, Day was the MP for the British Columbia riding of Okanagan-Coquihalla, first for the now-defunct Canadian Alliance and then for the Conservatives.

He also has insight into the thinking of potential buyers of Canadian resources on the other side of the Pacific, having served as the federal trade minister and minister for the Asia-Pacific gateway.
The Pacific Future proposal would mean "high-tech, long-term jobs" for Canada, said Day, who left government in 2011.

"We're talking about refining product here rather than shipping what really is raw product to other countries and seeing the jobs produced there."
The environmental aspect is also key, said Day.

"I've talked with enough people all over British Columbia to realize that this is a genuine concern and a real impediment in the minds of many people."

Day said he's confident there will be interest in the project from both sides of the Pacific.

"What I've seen over the last few years in Asia... they've got a sincere desire to deal with their own environmental issues and even for them, there are some political advantages for them to be seen as receiving refined product," he said.

And there's interest from Alberta, too, he added.
"I can honestly say I've never ceased talking with people from Alberta -- investors and CEOs -- since the days I was in Alberta about the challenges of a unique product, but a product that in my view needs to be refined and needs to be refined here," he said.

"Of course, you have to make the economic case as well as the environmental case and this project does that."

Day said he hasn't talked to his former colleagues in Ottawa about Pacific Future, but "I have to think this would align with many of the aspirations of the federal government vis-a-vis Canadian trade and Canadian jobs."

The Pacific Future leadership team includes venture capitalists and former provincial and federal government advisers. Its executive chairman, Samer Salameh, has experience financing and building telecommunications infrastructure for Mexican conglomerate Groupo Salinas.

Pacific Future has also made First Nations engagement a priority. One of Salameh's first hires for the management team was Jeffrey Copenace, who was deputy chief of staff to former Assembly of First Nations chief Shawn Atleo and has worked with the Ontario and federal government on aboriginal issues.
Pacific Future says the refinery will be built in 200,000-barrel-per-day modules, with the ability to expand to a total of one million barrels per day.

It aims to pick a location later this year for the plant and begin the regulatory process next year

Read more:

August 14, 2014

Bitumen Production to ramp up

The Nigerian National Petroleum Corporation (NNPC) has assured the marketers and distributors of bitumen as well as members of the public that the days of bitumen importation will soon be over.

In a statement signed by NNPC spokesperson, Ohi Alegbe, this is as a result of the current plan to gear up the Kaduna Refining and Petrochemical Company (KPRC) for optimum production of the product to save the nation the huge foreign exchange spent on the importation of the product.

The Management of the Corporation, in a reaction to a story attributed to the Association of Bitumen Marketers and Distributors published in some national dailies recently, disclosed that plans are currently on to repair the “Riser” at the heavy crude oil reception facility at Escravos.

This will guarantee the importation of heavy crude for the production of bitumen at the Kaduna Refining and Petrochemical Company (KRPC), which is the only refinery configured to produce bitumen in the country.
The Management further stated that in the meantime, KRPC has about 5,005 metric tons of bitumen (also known as asphalt) for evacuation, and that a further 14,466 metric tons will be produced between now and September from available residue.

It explained that the KRPC has the capacity to produce 1,796 metric tons of asphalt per day or 592,680 metric tons per year of two major liquid and solid oxidized grades of bitumen while the current national demand is put at about 500,000 metric tons per year.
It noted that as soon as the “Riser” is repaired and the supply of heavy crude oil is guaranteed, there will be no need for further importation of bitumen.

Source- Businessday

Fire at Bitumen Factory

Fire Breaks Out in Bitumen Factory near Tehran
A vast fire incident occurred in a bitumen factory in a town just a few miles away from the capital Tehran on Tuesday morning.
The fire broke out in a bitumen factory near the town of Vavan at 6:07 am in an area of 3,000 square meters. A sum of five reservoirs with a capacity of 50,000 liters each caught fire in the incident.

Fire brigades have been dispatched from Tehran to Vavan to help control and extinguish the massive fire there. The cause of the fire incident is still under investigation.

In another fire incident yesterday, a vast fire incident occurred in Tehran's Bazaar, killing two people.
"Massive fire which broke out in Tehran's Bazaar today killed 2 businessmen and the people who were hanging out of windows were rescued by using hydraulic ladder," Tehran Fire Brigade Department Spokesman Seyed Jalal Maleki told FNA on Monday.

He noted that two men aged 50 and 60, who were trapped in the upper stories of buildings in Tehran's Bazaar, were killed.

Maleki said that 10 shopkeepers also faced respiratory problems.
The fire broke out in a four-storey building in Southern Tehran at 10:53 this morning.

Source- Farsnews