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Economy & Business

Colombia: The controversial petroleum refinery project in Meta

Governor Alan Jara sees consistencies in the project of the state run Llanopetrol to set up a refinery at Meta, to process the heavy crude oil that is produced in nearby fields and is not fit for pipeline transportation. The project is estimated at US$1bil and Llanopetrol already purchase land for the plant. Manager Ricardo Rodriquez says private investors have joined the project one of them Solver Structural that has the local filial BRB Solutions Petroleum to arrange the funding for the project designed to process 40,000 bpd of crude. Llaso SAS, an association of BRB and Llanopetrol is to tackle it.

Some market observers believe with the crude processing capacity of Barrancabermeja refinery (230,000 bpd) and the revamping of the Cartagena refinery there would be enough capacity to supply the Colombian domestic market generate exports. Reficar, the Cartagena refinery controlled by Ecopetrol, is mulling a US$6,647mil revamping project to lift capacity from 80,000 to 165,000 bpd, contracted to CBI Colombia.

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