Toyo awarded refinery modernization contract in Tatarstan
Toyo Engineering Corp. (Toyo; Chiba, Japan; www.toyo-eng.co.jp) has been awarded a contract with TAIF-NK (Nizhnekamsk, Republic of Tatarstan, Russian Federation) to provide services for detailed engineering and procurement for the petroleum-refinery modernization project in Nizhnekamsk. TAIF-NK belongs to TAIF PSC Group (Republic of Tatarstan, Russian Federation), and is one of the largest petroleum refineries in Russia. The current project utilizes the VCC (Veba Combi Cracker) process of KBR (Houston; www.kbr.com) to be implemented at the Heavy Residue Conversion Complex (HRCC) for the first time in the world. The project is going to be completed in 2016 and the complex will convert the following oil refinery heavy residues: 2,700,000 ton/yr of vacuum residue and 1,000,000 ton/yr of vacuum gas oil with high ratio of conversion to more valuable and high-quality oil products.
In 2015 the Russian government plans to annul the decree currently in effect of lowering the heavy residue export taxes towards increasing added value for the exported petroleum products and compliance with the motor gasoline environmental standards (Euro 5) being used domestically. In this regard oil refineries in Russia were given directions for urgent establishing the units for heavy oil conversion.