Fluor secures contract to design and build new Valvoline lubricants facility in China
The project is Valvoline’s first plant in China. Fluor booked the undisclosed contract value in 4Q18.
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Award includes detailed engineering of ethylene cracking heaters at the CAP2 plant.
Japan was the third largest contributor to crude oil refining capacity in Asia with 3.519 million bpd in 2018.
Rui Hou, Wood Mackenzie, comments on China's crude oil and refining outlook.
The company plans to break ground for the regasification and receiving terminal in 2019, with commercial operations targeted to start by 2023.
The country’s total refining capacity is forecast to increase at an AAGR of 4.5% in 2023.
NewCo will produce dry polyacrylamide and cationic monomer A9 among other chemicals.
BP and Lotte have agreed a major expansion of production capacity at their JV Lotte BP Chemical Co. Ltd facility in Ulsan, South Korea.
Around 140 planned and announced plants are scheduled to come online during the forecast period.
Onsite work is scheduled to commence in the first quarter of 2019 with completion scheduled for the third quarter of 2020.
