Belarus and China to take part in the development of an oil field in Venezuela

(RIA Novosti) -- Belarus and China are to take part in the development of an oil field in Venezuela, Belarusian state television said on Wednesday. The project was discussed during a visit by a delegation of Belarusian officials to the Latin American state late last week, the report said.


"We have received approval to work in a large oil-rich region together with Venezuela and China and extract hundreds of thousands of barrels of oil a day," Belarusian presidential aide Viktor Sheiman was quoted as saying.


In line with the agreement, the Belarusian-Venezuelan joint oil production company Petrolera BeloVenezolana will develop two more oil deposits in Venezuela, he said, adding that oil production will "increase many times" as a result.

Belarus is currently involved in oil production at seven oil and six gas deposits in the Latin American country. By 2011, the extraction of oil is expected to reach 1.2 million tones, while gas extraction is planned at 1 billion cubic meters.


MRC

German Bischof + Klein to build second plant in Saudi Arabia

(PlastEurope) -- In Saudi Arabia, flexible packaging and technical film manufacturer Bischof + Klein is planning to build a second plant in the Rabigh petrochemicals complex. "The Saudi Arabia region is developing into an important location for the production of plastics," said Volker Pfennig, managing director of the B+K Group. "We want to share in this growth."


The German packaging and film company has been represented in the Arabian Peninsula region for ten years through B+K Middle East Company. The joint venture with the Saudi companies H.A. Al-Zamil & Bros Co, Al-Rajhi House Enterprises and Ahmed A.M. Al-Ohali produces FFS packaging solutions on the basis of co-extruded films as well as stretch hood and shrink films in Al-Khobar near Dammam. According to data from market research company Applied Market Information, B+K holds a 30% stake in the jv. Its biggest customer is the petrochemicals group Sabic, but it also supplies companies in the neighbouring states.


At the end of October, B+K Mec will start up two additional FFS film lines, making a total of eleven FFS lines and two machines for the "SmartFlex" stretch hood range. The capacity will then rise to 24,500 t/y of FFS film and 5,400 t/y of stretch film.


MRC

Saudi Polymers will bring online its new integrated polyolefins complex in Jubail

(Platts) -- Saudi Polymers will bring online its new integrated polyolefins complex in Jubail, Saudi Arabia, within a month -- pending ongoing safety checks -- a source close to the company said Tuesday. "The complex can start up anytime now," said the source. "It's undergoing safety procedures and checks."


The complex is built around an ethane/propane-based steam cracker, with the capacity to produce 1.165 million mt/year of ethylene and 445,000 mt/year of propylene. The entire olefins production is slated for captive use.


Saudi Arabian petrochemical producers are weaning off from their dependence on gas feedstocks due to tightening supply. The next major petrochemicals project on the table by Dow and Saudi Aramco, called Sadara, involves building a world-scale steam cracker that will be able to use a range of feedstocks when it comes online in 2014.


Downstream from the steam cracker, Saudi Polymers has a 1.1 million mt/year high density polyethylene plant, a 400,000 mt/year polypropylene plant and a 200,000 mt/year polystyrene plant at the new complex.


MRC

Establishment of Sadara Chemical Company is making significant progress

(Dow) -- The establishment of Sadara Chemical Company, a planned joint venture under formation between The Dow Chemical Company and the Saudi Arabian Oil Company (Saudi Aramco), is making significant progress following the authorization by the Boards of Directors of both companies in late July.


The two partners are in the final stages of establishing Sadara, and it is expected that the officer and board member nominees will soon be officially announced. The on-line recruitment process for the first in-take of Saudi apprentices commenced in August and the response was overwhelming, with over 6,300 applications received.


Meanwhile, the Engineering, Procurement & Construction (EPC) contract bidding process continues. 50% of the capital investment amount is already under contract with another 20% out for bid. It is expected that all invitation for bids will be out by end of the year.


MRC

The Supervisory Board of KraussMaffei appointed a new Chief Executive Officer

(Krauss Maffei) -- The Supervisory Board of KraussMaffei AG, a worldwide leading manufacturer of plastic and rubber machinery and systems, appointed Jan Siebert as Chief Executive Officer (CEO) effective from January 1, 2012. He will succeed Dr. Dietmar Straub, who is managing the activities of KraussMaffei Group since April 2007 and who is leaving the company at his own request.


KraussMaffei is one of the world's leading manufacturers of machinery for processing plastics, and the only company supplying machinery covering three key technologies for the international plastics and rubber processing industries.


The KraussMaffei Group markets its products under the KraussMaffei, KraussMaffei Berstorff and Netstal brands. The KraussMaffei brand covers the whole spectrum of injection and reaction moulding technology, while KraussMaffei Berstorff specializes in extrusion solutions. The Swiss subsidiary Netstal is firmly established as a premium supplier of high-precision injection moulding machinery. Krauss-Maffei maintains a close-meshed network of over 140 subsidiaries and sales and service agencies close to customers worldwide.


MRC