Total unveils upgrade project for Antwerp refinery, petrochemical complex

By NADYA MASIDLOVER

PARIS -- Total said that it has approved a $1.29 billion project to modernize its Antwerp refining and petrochemical platform, the company's largest in Europe.

The project is part of Total's strategy of focusing its investment on its large integrated platforms to position them among the most competitive in the industry, said the company.

With this investment, Total is demonstrating not only its commitment to maintaining its position as a competitive industry leader in Europe, but also its ability to adapt to market trends by reducing its production capacities and emphasizing higher value added products that meet the most stringent environmental standards, said Patrick Pouyanne, president of the Total Refining & Chemicals division.

Total said that two major projects will be implemented at its Antwerp facilities: a new refinery upgrading complex including a solvent de-asphalting unit and a mild hydrocracking unit and a plant to convert low value refinery fuel gases into low cost petrochemical feedstock.

The company added that the workforce at the platform will remain unchanged at around 1,700 people.

Dow Jones Newswires

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