VENEZUELA - Punta Cardon Refinery.

Located on the Paraguana peninsula, the 305,000 b/d complex is the site of PDVSA's PARC, the largest single venture ever implemented in the Venezuelan refining industry. The $2.7 bn project, completed in 1996, added a delayed coker with a capacity of 60,000 b/d, a 45,000 b/d unit for heavy naphtha catalytic reformation, and a 48,000 b/d unit for hydrotreatment of light distillates.

The plant was debottlenecked in 2002. This enabling the delayed coker to operate at 66,000 b/d and the catalytic reformer to run at more than 57,000 b/d. Before the strikes in late 2002, PDVSA engineers were preparing to rebuild the plant's 77,000 b/d catalytic cracker in 2004 to increase conversion rates through the use of reactor technology.

The upgrades were of strategic importance for PDVSA. They enabled the company to increase its capability to process heavy and extra-heavy crudes, boost its output of distillates, and cut its output of residual fuel oil. The refinery can now convert almost 100,000 b/d of residuals into light/sweet products.

Cardon, like Amuay, came on stream in the early 1950s. Now a sophisticated and fully-automated refinery, it has about 35 units and other auxiliary installations, as well as docks for 12 tankers. Its output consists of more than 250 types of products. Some upgrading work was done on the refinery in the subsequent decades, with an oxygenates facility having started up in 1994. In August 1997, there was a fire at this refinery which caused PDVSA to declare force majeure on high octane gasoline exports.

Maraven operated the Cardon complex until the company's downstream assets were absorbed by PDV M&M and its upstream operations were taken over by PDV E&P. Maraven used to be the third biggest refiner and the second biggest upstream producer in Venezuela. Maraven also operated the small 15,000 b/d Bajo Grande refinery. Some minor upgrading work on this refinery has been done in recent years.