ConocoPhillips sees costs delaying UAE refinery

Debido al fuerte incremento de los costes de construir nuevas refinerías, se están planteando aplazar o suspender la construcción de una ya planeada en los Emiratos Arabes Unidos; un fenómeno que está ocurriendo también por mas sitios.

High costs are likely to delay construction of a refinery planned for the United Arab Emirates and could lead ConocoPhillips to end its participation in the project, Chief Executive James Mulva said on Monday.

"The Fujairah refinery is very challenging on the cost side," Mulva told reporters at the Howard Weil Energy Conference.

"I think that is one that is certainly deferred into the future, and there is a question whether it will go forward, and if we will participate," he said.
Abu Dhabi's investment arm, IPIC, and ConocoPhillips last July announced plans to develop a 500,000 barrel-per-day refinery in Fujairah.

High project development costs previously forced ConocoPhillips to delay a planned upgrade of its Wilhelmshaven, Germany, refinery by at least a year.

Exxon Mobil in February dropped plans for a Qatari gas-to-liquids project, citing rising costs.