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EBRD loan for Turkish refiner
The European Bank for Reconstruction and Development (EBRD) is lending $150mn to oil refiner Türkiye Petrol Rafinerileri (Tüpraş) to upgrade a new onsite thermal power plant, a waste heat recovery system, stack gas treatment, a fluid catalytic cracking unit and hydrocracker unit refurbishments. These improvements will lower the energy intensity of the two refineries, reduce CO2 emissions by some 270,000 t/y and cut water consumption.
The EBRD is also considering providing up to $15mn debt finance to Green Oil and Lubes SRL of Romania, to build a new green-field plant to process and recycle used lubricating oils into Group II base oil, for sale and reuse in the automotive and industrial lubricant blending sectors. In addition, the investment will entail the creation of a national used lubricating oil collection network.
News Item details
Journal title: Petroleum Review
Subjects: Banking, finance and investment, Heat generation, Energy consumption, Lubricants, Dispatchable power plants, Road fuels, Carbon emissions
