REFINERY MOD/GAS CNV

closed

The Refinery Modernization Project is designed to remove bottlenecks in the refinery's physical facilities and improve its energy efficiency through modifications and additions, and at the same time improve institutional capabilities and systems to achieve high levels of operational efficiencies. It will thus support the principal objective of reducing the economic supply cost of petroleum products to the country to levels comparable to international prices. To that end, the proposed project includes: (i) equipment and services to revamp and modernize the refinery's constituent process units to bring about internal capacity matching, energy-efficiency improvement, and processing flexibility to handle a wider variety of feedstocks leading to a better match between production and demand of products. The project also involves (ii) technical assistance to strengthen the Administracion Nacional de Combustibles, Alcohol y Portland's (ANCAP) in-house capabilities; and (iii) funds for a study on pricing and crude import tariff systems, to provide the Government with a rationalized ex-refinery pricing system emphasizing cost efficiency.