Colombia to launch new refinery in 2015 with crude supply from Ecopetrol
The refinery will cost about $1.5 billion to build and have a refining capacity of 40,000 bpd, supplying fuel to the region and diluent to Ecopetrol for the transportation of heavy crudes by pipeline.
By ANDREW WILLIS
Colombias state-controlled Ecopetrol agreed to supply
crude to a refinery scheduled to start operations in 2015,
said the governor of the countrys top oil-producing
province where the facility will be located.
The refinery will cost about $1.5 billion to build and have a
capacity of 40,000 bpd of
crude, supplying fuel to the region and diluent to Ecopetrol
for the transportation of heavy crudes by pipeline, said Alan
Jara, governor of Colombias central Meta province.
We spoke with Ecopetrol, Jara said in a telephone
interview. There is a letter of intent that guarantees
the oil necessary to supply the refinery
Ecopetrol, Colombias largest oil company, will supply
although volumes are yet
to be defined, the company said in an e-mailed response to
questions. Colombian President Juan Manuel Santos said May 6
that Colombias environment
al agency ANLA awarded
a license for the refinery project
that will be overseen by
La Empresa de Petroleos del Llano-Llanopetrol.
Llanopetrol is seeking a partner that will provide financing
for the refinery and has received several offers so far, Jara
said. The province of Meta owns the majority stake in
A decision on the partner will be made in the coming
days, with construction
likely to start in the
first quarter of 2015 and finish before year-end, he said.
Colombia has operating refineries in Cartagena and
Barrancabermeja, both owned by Bogota-based Ecopetrol.