MOSCOW (MRC) -- BP plc has stopped importing oil for its refinery in Western Australia, the country’s largest, and is on track to decommission the plant by the end of March, reported Reuters with reference to a spokesman's statement.
BP announced last October it would shut the loss-making Kwinana plant, capable of processing 146,000 barrels per day (bpd) of oil, and turn it into a fuel import terminal. It said at the time operations would wind down over six months.
“Crude imports have stopped, and all processing at the plant is in the shutdown phase which will be completed by the end of March 2021,” a BP spokesman said in an emailed comment.
The Kwinana refinery is the first of Australia’s remaining four refineries set to shut, despite offers of incentives from the government to keep refineries open for national security.
ExxonMobil Corp said in February, as MRC reported earlier, that it also plans to shut its 90,000-bpd Altona refinery, the country’s smallest plant.
Ampol Ltd, Australia’s top fuel supplier, is considering the future of its Lytton refinery in Queensland.
Viva Energy is the only company that has accepted short-term payments from the federal government to keep its Geelong refinery open and said it hopes the plant will stay open with the help of long-term incentives now under negotiation.
We remind that in early February, 2021, Rosneft Oil Company and BP signed a Strategic Collaboration Agreement focused on supporting carbon management and sustainability activities of both companies. The agreement builds on years of partnership between the two companies and formalises key elements of their collaboration on sustainability and work to identify carbon reduction activities and low carbon opportunities.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,220,640 tonnes in 2020, up by 2% year on year. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, polypropylene (PP) shipments to the Russian market reached 1 240,000 tonnes in 2020 (calculated using the formula: production, minus exports, plus imports, excluding producers' inventories as of 1 January, 2020). Supply of exclusively PP random copolymer increased.
BP is one of the world's largest oil and gas companies, serving millions of customers every day in around 80 countries, and employing around 85,000 people. BP’s business segments are Upstream (oil and gas exploration & production), and Downstream (refining & marketing). Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbon basins and strong market positions in key economies.