PDVSA’s Investment to Improve the Puerto La Cruz Refinery in Venezuela

---

Researched by Industrial Info Resources (Sugar Land, Texas). Puerto La Cruz Refinery started operating in 1950 and is located in the Azoátegui State of Venezuela. It includes three operational areas: Puerto La Cruz, El Chaure, and San Roque. Due to new investments by PDVSA, Puerto La Cruz will be the first plant in Venezuela to use HDH Plus technology by the year 2010. This type of technology is developed by PDVSA subsidiary Intevep, and is used to convert heavy oil and extra heavy crude into products such as gasoline and diesel fuel. This new project will require an investment of $1.7 billion and is part of Venezuela’s plan to gain new markets around the world, in order to more specifically benefit the country by the year 2030. This plan is more commonly known as the “Plan de Siembra Petrolera.”

Puerto La Cruz’s total production is 67.5% high-gravity crude and a remaining 32.5% of heavy crude. HDH Plus/SHP technology will be used for the construction of a deep conversion unit and a vacuum unit for 130,000 bbls/day. At the same time, units DA1 (CDU1, Crude Destilation Unit1) and DA2 (CDU2, Crude Destilation Unit2) will be remodelled allowing 80,000 and 90,000 bbls/day of Merey crude oil to be processed respectively. The new project will facilitate the release of 90,000 bbl/d of high-gravity crude, as well as the production of 57,000 bbl/d of unleaded gasoline, 22,000 bbl/d of automotive diesel fuel, 74,000 bbl/d of low sulphur diesel fuel to be exported to Europe, 33 bbl/d of jet A1 fuel, and high quality bitumen among other products.

This year’s investments will be around $121,000 where 42% of this investment will be dedicated to generate new income, 32% to guarantee the plant’s safety, 12% to social development, 6% to automation and technology, and 4% to environmental safety concerns. The present net value of the project in Puerto La Cruz is $509 billion and has an IRR (Internal Rate of Return) of 21%. Remodeling Puerto La Cruz Refinery will allow this refinery to improve the quality of its products and to pursue the fulfilment of Venezuela’s Plan de Siembra Petrolera. This will give Venezuela the possibility to strengthen its position in the world, especially at a time when product demand, quality, and availability are more difficult.

View Plant Profile - 1027243

Industrial Information Resources (IIR) is a Marketing Information Service company that has been doing business for over 23 years. IIR is respected as the leader in providing comprehensive market intelligence pertaining to the industrial processing, heavy manufacturing, and energy-related industries throughout the world.