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Honeywell International : Pakistan's PARCO to Produce Cleaner - Burning Transportation Fuels Using Honeywell Technologies

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04/14/2017 | 03:29pm CET

Release date- 13042017 - DES PLAINES, Ill. - Honeywell (NYSE: HON) announced today that Pak-Arab Refinery Limited (PARCO) will use technologies from Honeywell UOP and Honeywell Process Solutions to upgrade its Mid-Country Refinery near Multan, Pakistan, enabling it to meet growing domestic demand for cleaner-burning fuels.

The project's Honeywell solutions will include licensing, basic engineering design and other associated services for a modular Penex isomerization unit, which will help make cleaner-burning high-octane gasoline, and a modular Polybed PSA system, which will provide a reliable source of high-purity hydrogen. In addition, the project will include automation and controls from Honeywell Process Solutions.

'These Honeywell technologies will address the increasingly urgent need for low- emission transportation fuels under the Pakistani government's tightening environmental regulations,' said Mike Millard, vice president and general manager of Honeywell UOP's Process Technology and Equipment business. 'PARCO chose to have these technologies delivered as modular equipment rather than in-field construction for faster startup, higher quality and better unit performance.'

The Penex process is the highest-performing isomerization option available today. It upgrades light naphtha to produce isomerate, a cleaner gasoline blend-stock that contains no benzene, aromatics or olefins. The process uses Honeywell UOP's portfolio of proven, high-activity isomerization and benzene saturation catalysts.

The Polybed PSA process uses proprietary Honeywell UOP adsorbents to remove impurities at high pressure from hydrogen-containing process streams, allowing hydrogen to be recovered and upgraded to more than 99.9-percent purity to meet refining needs. In addition to recovering and purifying hydrogen from steam reformers and refinery off-gases, the Polybed PSA system can be used to produce hydrogen from other sources such as ethylene off-gas, methanol off-gas and partial-oxidation synthesis gas.

The facility also will use Honeywell's Experion Process Knowledge System (PKS), which uses a unified automation system and advanced software applications to increase operator productivity and profitability.

PARCO chose Honeywell's technology due to its long record of experience with the company, its proven record of success in Pakistan and its modularization capability for rapid project implementation.

Pak-Arab Refinery Limited (PARCO) is a joint venture between the Government of Pakistan, which holds 60 percent of the venture, and the Emirate of Abu Dhabi, whose 40 percent share is held through the Abu Dhabi Petroleum Investment Company L.L.C. (ADPI), a subsidiary group of International Petroleum Investment Company (IPIC).

PARCO's major business activities include crude oil refining and transportation, storage and marketing of petroleum products. PARCO, through its own marketing as well as through a joint venture company with TOTAL, is the strategic fuel supplier for Pakistan, and includes Pakistan's largest refinery, a 2,000-kilometer cross-country pipeline network. The network includes PARCO's subsidiary PAPCO, a joint venture company of PARCO; Shell; PSO and TOTAL PARCO Marketing Limited (TPML).

Honeywell UOP (www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. Honeywell UOP is part of Honeywell's Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions (www.honeywellprocess.com), a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries.

Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom


John Simley

Tel: 847-391-2278

Email: [email protected]

(c) 2017 Electronic News Publishing -, source ENP Newswire

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Financials ($)
Sales 2017 40 407 M
EBIT 2017 7 434 M
Net income 2017 5 448 M
Debt 2017 8 788 M
Yield 2017 1,78%
P/E ratio 2017 21,81
P/E ratio 2018 19,88
EV / Sales 2017 3,13x
EV / Sales 2018 2,94x
Capitalization 118 B
Duration : Period :
Honeywell International Technical Analysis Chart | HON | US4385161066 | 4-Traders
Technical analysis trends HONEYWELL INTERNATIONAL
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 163 $
Spread / Average Target 5,5%
EPS Revisions
Darius Adamczyk President, Chief Executive Officer & Director
Tim O. Mahoney President & Chief Executive Officer-Aerospace
David M. Cote Executive Chairman
Thomas A. Szlosek Chief Financial Officer & Senior Vice President
Krishna Mikkilineni Senior Vice President -Engineering Operations
Sector and Competitors
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