MOSCOW (MRC) -- India’s Bharat Petroleum Corp has chosen Chevron Lummus Global’s (CLG) ISOFINISHING technology for a catalytic processing unit at its Mumbai refinery, said the company.
Once complete, the 200,000 tonne/year facility would be the first catalytic process unit to manufacture de-aromatised solvents and white oil in India, CLG said in a brief statement on Wednesday. Production from the new unit would replace imports of these specialty products, it added.
CLG's scope for the Mumbai project includes the technology licence, engineering services, proprietary equipment and catalyst supply. Financial details or the expected startup timeline were not disclosed.
CLG is a joint venture between Chevron U.S.A. Inc. and Lummus Technology.
We remind, Chevron Corp. posted a record USD36.5 bn profit for 2022 that was more than double year-earlier earnings but fell shy of Wall Street estimates, undercut by an asset writedowns and a retreat in oil and gas prices.
The second largest U.S. oil producer's adjusted net profit for 2022 beat by about USD10 billion its previous record set in 2011. But USD1.1 B in writedowns in its international oil and gas operations in the fourth quarter left earnings short of forecasts for adjusted net profit of USD37.2 B.