Industry Briefs

RefiningOverseas Private Investment Corp.,a self-sustaining US federal government agency, agreed to finance $85 million via a credit facility for construction of a $170 million, 36,000 b/d refinery to be built at Napa Napa on Papua New Guinea's Port Moresby Harbor (OGJ, Jan. 17, 2000, Newsletter). The refinery, to be owned and operated by InterOil Corp., Houston, will receive crude oil from the Kutubu-Gobe oil fields in the southern highlands via tankers offloading at Kumul terminal in the Gulf of Papua. Construction is expected to begin this year and take about 20 months.Russian firm Tyumen Oil Co.agreed to buy a 67.41% stake in Ukraine's Lysychansk oil refinery from Ukrainian St...

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