Refinery Upgrade BP Completes Upgrade of Whiting Refinery
British oil multi BP has finished the last major milestones of its refinery upgrading project at Whiting, Indiana, USA. The start–up of a new 102,000 barrel per day coker in mid-November was the last big step in the project, designed to create US $ one billion per annum of additional future operating cash flow.
London/United Kingdom – “The safe start-up of this world-scale coker is the last major step in unlocking the full potential of the Whiting Refinery for our shareholders,” said Iain Conn, chief executive of BP’s downstream segment. “The reconfigured refinery now has the flexibility to greatly increase heavy sour crude processing, delivering an expected incremental $1 billion of operating cash flow per year, depending on market conditions.”
The refinery is working through post-start-up troubleshooting activities and expects to be ready to begin the ramp up of progressively higher Canadian crude processing from year-end through the first quarter of 2014 as previously announced.
“Whiting at the Heart of US Fuels Strategy”
“The Whiting Refinery project has been at the heart of our US fuels strategy to operate sophisticated, feedstock-advantaged refineries tied to strong logistics and integrated into fuels marketing,” Conn added. “This world-class refinery is in the right location with the right equipment to process growing supplies of North American crude oil, including heavy grades from Canada. I would like to congratulate the wider team which has delivered this final milestone.”
“Along with the recent Toledo and Cherry Point Refinery upgrades and the successful completion of the Texas City and Carson Refinery divestments, the Whiting Refinery modernization project repositions our fuels business in North America,” said Steve Cornell, Chief Operating Officer for U.S. Fuels and Head of Refining & Major Projects.