MOSCOW (MRC) -- Phillips 66 plans to begin repairs on a catalytic reformer and a hydrotreater next week at its storm-damaged, shut 255,600-bpd Alliance, Louisiana refinery, said people familiar with the company’s plans, said Hydrocarbonprocessing.
Repairs are set to begin in January on the 250,000-bpd crude distillation unit (CDU) and 120,000-bpd gasoline-producing fluidic catalytic cracking unit (FCCU), the people said. Phillips 66 spokesperson Bernardo Fallas declined to comment on Wednesday.
In addition to the upcoming repair work on the 33,000-bpd reformer and 70,000-bpd diesel hydrotreater, repairs are underway to the heavily damaged electrical system so that most units can begin receiving power soon, the sources said. Phillips 66 shut Alliance on Aug. 28, one day before Hurricane Ida roared ashore causing heavy rain that flooded the area, leading to a flood wall to be breached at the refinery.
Repairs to the CDU and FCCU will include electrical and mechanical systems on the units, the sources said. Phillips 66 Chief Executive Greg Garland said on Monday the company continues to evaluate all options for the refinery including a sale or closure.
Motiva Enterprises, the U.S. downstream and marketing arm of Saudi Aramco, and U.S. refiner Valero Energy Corp have both looked at the refinery in recent weeks, the sources said. Valero is not likely to buy a new refinery to add to the 14 it operates, company Chief Executive Joe Gorder said on Oct. 21.
Saudi Aramco has been focused on expansion in petrochemicals in the United States in recent years, backing away from earlier plans to add U.S. refining capacity.
As per MRC, Phillips 66 and Phillips 66 Partners have announced that they have entered into a definitive agreement for Phillips 66 to acquire all of the publicly held common units representing limited partner interests in the Partnership not already owned by Phillips 66 and its affiliates. The agreement, expected to close in the first quarter of 2022, provides for an all-stock transaction in which each outstanding PSXP common unitholder would receive 0.50 shares of PSX common stock for each PSXP common unit. The Partnership’s preferred units would be converted into common units at a premium to the original issuance price prior to exchange for Phillips 66 common stock.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had USD55 billion of assets as of Dec. 31, 2020.
MRC