ConocoPhillips delays refinery upgrade

By OGJ editors
HOUSTON, Nov. 18
-- ConocoPhillips has confirmed plans to delay the upgrade of its 260,000-b/d Wilhelmshaven refinery in Germany.

“This is the right project for Wilhelmshaven—but not now,” said Willie Chiang, senior vice-president, refining, marketing, and transportation. “We will reevaluate this investment opportunity as market conditions warrant.”

ConocoPhillips had planned to add a coker, hydrocracker, and hydrogen units to the refinery, which it acquired in 2006 from Louis Dreyfus Refining & Marketing Ltd.

ConocoPhillips Chairman and Chief Executive Officer Jim Mulva last month said delay of the project was possible (OGJ, Nov. 16, 2009, p. 68).

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