Refineries UPDATE

August 2011

TABLE OF CONTENTS

INDUSTRY ANALYSIS

AMERICAS

U.S.

NexLube Florida Re-Refinery to Use Tech from Axens, Viscolube

Bechtel Buys ConocoPhillips' ThruPlus Delayed Coking Technology

Manager of Lake Charles Pelican Refinery Enters Plea to Pollution Charges

Marathon's Downstream Spin-off Becomes Official

House Panel Votes to Delay EPA Air Pollution Rule

Tesoro to Build Anacortes Rail Facility Project and Supply the Refinery with Bakken Crude

No Decision on New ConocoPhillips Spinoff Home Base

House Passage of Keystone XL Legislation Gets Approval from NPRA

Valero Updates Maintenance Turnaround Schedule

Murphy Oil to Sell Superior Refinery to Calumet for $214 Mln Plus

Valero Finalizes $730 Mln Purchase of Chevron‘s UK Pembroke Refinery

Falling U.S. Dependence on Petroleum Imports

CANADA

Jacobs Wins EPC Contract for Alberta Refinery

Irving Commissions $100 Mln Dehexanizer Benzene-Reduction Unit at Its New Brunswick Refinery

VENEZUELA

Foster Wheeler Wins Contract for New PDVSA Refinery

ASIA

AUSTRALIA

Shell to Convert Australia’s Clyde Refinery to Fuel Import Terminal by 2013

CHINA

China CNOOC Refinery Shuts Aromatics Unit after Fire

INDIA

India’s New Greenfield Cuddalore Refinery to Get NOCL Coker Crane

Mangalore Refinery Order for 150 AUMA Electric Actuators

JAPAN

Japan’s Cosmo Oil Plans to Restart Quake-hit Refinery in Late Fall and Replace All Fire-hit LPG Tanks for $130 Mln

VIETNAM

PetroVietnam Awards $441.57 Mln Gas Facility Construction to Local Consortium

EUROPE / AFRICA / MIDDLE EAST

UNITED KINGDOM

Essar Energy Buys $350 Mln Stanlow Refinery and Stock for $916 Mln from Shell UK

UNITED KINGDOM / FRANCE

PetroChina Paying Ineos $1.015 Bln to Form Oil Refining, Trading Joint Venture

NIGERIA

Nigeria to Raise Refineries Capacity from 60 to 95 Percent

TAJIKISTAN

Tajikistan Begins Construction on First Oil Refinery Costing $100 - $150 Mln

IRAN

Iran's Offer to Expand Sri Lanka's Sapugaskanda Oil Refinery to 100,000 bpd Rejected

IRAQ

Italian Consortium to Build $6 Bln Iraqi Refinery in Kerbala

Shell Global to Supply Technology for Iraq Basrah Refinery Upgrade

Axens Awarded South Refineries Contract in Iraq

OMAN

Oman Extends Bid Deadline for Sohar Refinery Expansion

SAUDI ARABI

Foster Wheeler Announces Riyadh Refinery FEED Contract