Wood River Refinery coking expansion on schedule

Source: Cenovus Energy

Cenovus Energy’s (NYSE: CVE) downstream operations include the Wood River Refinery in Illinois and the Borger Refinery in Texas, which are jointly owned with ConocoPhillips (NYSE: COP), the operator. 

In addition to the 25,000 bbls/d (gross) coking capacity at Borger, 65,000 bbls/d (gross) of coking capacity is being added at Wood River with the coker and refinery expansion (CORE) project. This will increase total coking capacity at Wood River to 83,000 bbls/d (gross). 

The CORE project is approximately 80% complete and the final cost is expected to be within 10% of budget. The project remains on track for a mid-2011 start up. 

It is anticipated this project will improve net margins at Wood River by approximately $4.00 per barrel. 

With the completion of the CORE project, Cenovus’s two refineries will be among the most complex in the United States, with the ability to process a wide variety of crude feedstocks and produce a large quantity of high value clean products. These refineries will have a combined capability to process as much as 275,000 bbls/d (gross) of heavy crude oil.

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