Business Trends: Application of blockchain technology in the petrochemical industry

AFRICA A JV between Equatorial Guinea’s Ministry of Mines and Hydrocarbons and Marathon Oil plans to build a modular refinery on Bioko Island. In late April, the JV signed a contract to VFuels to conduct a feasibility study for the 5,000-bpd facility. The project involves dismantling a methanol plant and converting it into a refinery. If built, the facility—part of Equatorial Guinea’s Year of Investment 2020 initiative—would provide refined products to satisfy increasing domestic demand. Conex Petroleum Group Inc. plans to complete construction on a 10,000-bpd modular refinery in Monrovia, Liberia in late 2020/early 2021. The refinery will be incorporated at the company’s existing storage

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