Staatsolie, Suriname’s national oil company, said it will increase the company’s refining capacity, in an effort to reduce dependence on imports and help meet the country’s rising demand for fuel. Staatsolie has awarded Saipem, an Italian company, the contract for the expansion project at a cost of US$550 million. The expansion will double the refinery’s capacity to 15,000 barrels per day by 2013. The expanded refinery will produce diesel fuel and gasoline for the local market. Saipem is charged with procurement, fabrication, and overseeing the construction of the plant. (July 1,2011)