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Lynas announced last Tuesday that a heavy monsoon and some engineering work had delayed completion of the refinery again, and that it would be ready in the second quarter of this year.
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European yields of diesel/gas oil remain broadly unchanged, as the growth in processing of US crudes is countered by the start up of the Johan Sverdrup field offshore Norway that provides a local supply of a heavier crude, along with the completion of various refinery upgrading projects currently underway.
"We are pleased to hear that these negotiations are now nearing completion and that the future of the refinery is looking more secure.
Upon completion, the refinery is expected to refine Nigerian crude blends into petroleum products for domestic and export markets.
The completion of the Houston Ship Channel in 1914 led to the establishment of refineries along it in the 1920s and '30s.
The debate over completion of the controversial pipeline, which would transport crude oil from Canada to refineries in Texas, has become a cause célèbre for the environmental movement and taken centre stage in a still-ongoing Senate race in Louisiana.
This is 75% of the refinery," an official speaking from inside the refinery said.
Residents within a half mile of the refinery were evacuated.
Talks are continuing over the future of the refinery.
A spokeswoman for Murco, the Murphy Oil subsidiary that operates the refinery, confirmed talks for the sale of the refinery were coming closer to a conclusion.
This is 75percentt of the refinery," the official said.
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