Last updated: August 25. 2013 1:02AM - 104 Views

Story Tools:

Font Size:

Social Media:

LIMA — Husky Energy has plans to spend more than $400 million on its Ohio properties in 2010, a large piece of which will go into the Lima Refinery.



The Canada-based energy company on Monday released its capital expenditure and production guidance report for 2010. The report outlines plans for $3.1 billion in capital outlay for the company, focused largely on major project developments in western Canada, offshore Canada’s East Coast, and Southeast Asia.



The company plans to spend $465 million on its downstream programs — meaning its refineries in Lima and Toledo. The investment will focus on engineering and maintenance work at the two refineries. That in an increase from the $320 million the company spent on its refineries in 2009. No specific breakdown is available for how much of the $465 million the company is targeting for investment at the Lima Refinery.



The capital expenditure is not related to the $2 billion to $3 billion the company has said it would eventually spend to reconfigure the Lima facility. When Husky purchased the plant in 2007, officials said they planned to convert the plant to process the heavier crude the company draws from its holdings in the Canadian oil sands. The drop in oil process and demand during the past year have prompted the company to put those plans on hold. 



“It’s not for reconfiguration funds. We’re still doing the front-end engineering and development on that, so the money that is being allocated for Lima is for engineering and maintenance work,” said Husky Spokesman Graham White.



Portions of the refinery will be shut down for maintenance throughout 2010, but there will not be a full turnaround as there was in 2009.



“Lima will undergo several periods in 2010, when Lima will be shut down for front-end engineering and maintenance activity, but there are no plans for the full shutdown like we recently had,” White said.


Comments
comments powered by Disqus


Featured Businesses


Poll



Mortgage Minute