Total has approved a 1 billion euro modernization project for its Antwerp production facilities, Total’s largest European refining and petrochemical platform. Two major projects will be implemented in the near future. Total expects the merger of its refining and petrochemical operations to increase the arm’s net operating income by US$650 million per year from 2015. It has already made a similar move at its Gonfreville refinery between 2011 and 2013. “Antwerp and Gonfreville are the flagships of our plan in Europe. What matters in that our refining operations in Europe are more profitable,” Pouyanne said.
Total plans to build at its largest refinery in Belgium a 20,000 barrel per day hydrocracking unit at a cost of 700 million euros to transform high sulphur heavy fuels into low sulphur diesel and heating oil from early 2016. Total will in parallel shut uncompetitive units, such as a 240,000 ton oil-based naphtha cracker unit as well as two polyethylene-making units which have a joint production capacity of 70,000 tons.