BP to see Indiana refinery upgrade benefits in 2014

05 February 2013 19:07  [Source: ICIS news]

HOUSTON (ICIS)--BP should see full benefits of its Whiting refinery upgrade in Indiana in 2014, the company’s CEO said on Tuesday.

The 337,000 bbl/day Whiting refinery began an overhaul on the largest crude distillation unit (CDU) in November in order to improve the capacity to intake cheaper, heavier crude oil at the refinery.

The project is currently more than 85% complete and will continue until mid-2013, BP’s CEO Bob Dudley said during the company’s fourth quarter earnings call.

Furthermore, the crude unit will remain down until mid-2013.

According to Dudley, the whole commissioning process will take another 6-9 months, with full benefits of the upgrade seen in 2014.

Once operational, BP expects this project to “deliver an incremental $1bn [€740m] of operating cash flow for year depending on the environment”, Dudley said.

($1 = €0.74)

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By: Anna Matherne

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