Swedish refiner Preem AB has decided to scrap a plan to build a new residue hydrocracking plant at its 220,000-bpd refinery in Lysekil. The company’s board has also agreed to withdraw the environmental permit application for the project submitted in 2016. The move is aimed to allow the company to focus more on renewable fuels production at the complex.
The residue oil conversion complex (ROCC) project was initially aimed to increase the refinery’s diesel and gasoline production by reducing heavy fuel oil output. The innovative project, however, is costly and met with technical difficulties. US-based Beowulf Energy LLC was supposed to be the project’s developer.
The cancellation frees up cash that will be used to expand renewable fuels production at Lysekil, the company said. Preem is the largest renewable fuel producer in Sweden. It also aims at further increasing renewable fuels output at its 125,000-bpd Gothenburg refinery, the country’s largest production facility for renewable diesel and aviation fuel. Gothenburg’s expanded renewable fuel capacity is expected to come online in 2024. It will produce 1 Mcm fuels using tall oil, tallow, and other renewable-sourced materials as feedstocks.
Tags: AlwaysFree,Bio/Renewables,Crude Oil,English,Europe
Published on September 29, 2020 4:23 PM (GMT+8)Last Updated on September 30, 2020 11:59 AM (GMT+8)
