19 February 2014 14:58 [Source: ICIS news]
HOUSTON (ICIS)--Calumet Specialty Products expects to start up its new 20,000 bbl/day joint-venture diesel refinery in North Dakota in the fourth quarter of 2014, the CEO of the US-based specialty hydrocarbon and fuel products firm said on Wednesday.
The refinery – a 50:50 joint venture between Calumet and MDU Resources – is expected to be completely supplied with North Dakota Bakken crude. The project was announced a year ago.
In an update, Calumet CEO Bill Grube also said that Calumet is on track to double capacity at its Montana refinery to 20,000 bbl/day.
The company expects to complete that project, which involves the installation of a new crude unit and a hydrocracker, during the first quarter of 2016.
Grube also said that Calumet is currently evaluating locations in Idaho to build new asphalt distribution terminals.
"We could potentially build one or more asphalt distribution terminals that, beginning in the first quarter of 2016, would be used to sell incremental asphalt production resulting from our Montana refinery expansion project," he said.
Calumet processes crude oil and other feedstocks into customised lubricating oils, solvents, waxes and asphalt used in consumer, industrial and automotive products. It also produces fuel products including gasoline, diesel and jet fuel.
Indianapolis-based Calumet has twelve facilities located in Louisiana, Wisconsin, Montana, Pennsylvania, Texas, New Jersey and Missouri.
Earlier on Wednesday, Calumet reported a net loss for the three months ended 31 December.
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