Hengyuan Refining approves unit for Malaysian refinery

February 9, 2019

Dateline 2019-01-21, Oil & Gas Journal:

Hengyuan Refining Co. Bhd. (HRC)—a subsidiary of Shandong Hengyuan Petrochemical Co. Ltd.—has approved a $66.4-million investment to develop and build a hydrogen manufacturing unit as part of a hydrogen generation (H2Gen) project for production of cleaner fuels at its 156,000-b/d refining complex in Port Dickson, Negeri Sembilan, Malaysia.

Approved on Jan. 16, the primary objective of the H2Gen project is to supply the refinery with 30 tonnes/day of hydrogen for hydrotreating processes aimed at reducing sulfur content of the operator’s gasoline and diesel products, HRC said.


Refiners on a high

September 7, 2017

It’s the fumes, innit?

Dateline 2017-08-07, The Edge (no, not U2):

Last week, the Brent crude oil price rebounded to over US$50 (RM214) per barrel for the first time in two months, partly thanks to a drawdown in the US crude inventories, coupled with the threat of sanctions against Opec member Venezuela.

Interestingly, the news did not put a lid on the share price rally in Petron Malaysia Refining & Marketing Bhd and Hengyuan Refining Co Bhd as higher crude prices mean more costly feedstocks for them.

Instead, the two stocks climbed further last week.

Petron’s shares surged to an all-time high of RM9.76 last Friday, while Hengyuan soared to a 42-month high of RM7.97. Both counters were in the top five gainers of Bursa Malaysia last Friday.

 


Shell agrees to sell its shareholding in the Shell Refining Company in Malaysia to Malaysian Hengyuan International Limited (MHIL)

March 27, 2016

And China continues to buy their way into Malaysia.

Dateline 2016-02-01, Oil & Gas News:

Shell has reached a conditional agreement with Malaysian Hengyuan International  Limited (MHIL) for the sale of its 51% shareholding in the Shell Refining Company (SRC) in Malaysia for $66.3 million. It is MHIL’s intention for SRC to invest in the upgrades needed to meet the Euro 4M and Euro 5 requirements. The transaction is expected to complete in 2016, subject to obtaining regulatory approval.

Shell Malaysia Trading will ensure security of supply to its retail and commercial customers in Malaysia and honour other existing commitments through an existing comprehensive supply strategy that includes a long term offtake from Shell Refining Company.

The sale is consistent with Shell’s strategy to concentrate its global Downstream footprint and businesses where it can be most competitive. Malaysia continues to be an important country for Shell.  Shell is the leading retail fuels and lubricants provider and continues to invest in growing these businesses in the country.