Salavatnefteorgsyntez reports about first half of 2010

SALAVAT (Salavatnefteorgsyntez) -- In the first corporate conference of Salavatnefteorgsyntez executives and specialists the report of the first half of year 2010 was adopted and main strategy points till 2010 were announced. Net profit formed RUB 2.600 mln., earnings totaled RUB 55,4 bln. And EBITDA figure became RUB 5,1 bln.

Salavatnefteorgsyntez development strategy till 2020 realization requires over 100 bln. investments Main point is made on the shift of profit vector to petrochemicals sector.

MRC

(Interfax) -- LUKOIL has quit from Otechestvennye Polimery Ltd. operating over 50% stake of Polief Corp. stocks.

The stake of 49,999998% from company's authorized capital stock, which had belonged to LUKOIL-Neftehim group before, was given to financial investors not in SIBUR group. 50,000002% from Otechestvennye Polimery Ltd. Authorised capital stock remain being SIBUR property.

MRC

(1news) -- Azerkimya has successfully completed primary capital repairs at one of the main technology site of ⌠Ethylene-Polyethylene plant of ⌠EP-300 complex. In particular, the repairs were made in pyrolysis workshop.

In seven days reconstruction of zigzag pipes in crackers, deconstruction and full substitution of gasoline, ethane and water vapor pipes.

Today intensive repairs are ongoing in gas separation workshop. Here successfully continue repairs and substitution of T-66 heat exchanger and other equipment.

MRC

SINGAPORE (Reuters) -- Taiwan's Formosa Petrochemical Corp will restart its 700,000 tonne-per-year No. 1 naphtha cracker within two to three months, the company's spokesman said on Thursday.

But the company is still uncertain when it will shut down its No. 2 cracker for maintenance. This unit was initially scheduled for maintenance on Aug. 20, but the outage at the the No. 1 cracker has disrupted the plan for now (see mrcplast.com from July 14 2010).

MRCMRC Reference Formosa

The share in the Russian market in 2008:
PVC-S - 3.0%;

PP - 0.4%.

Annual growth sales in Russia :
PVC - 79 % (over the last year) ;

PP - 272 % (over the last 3 years).

Supply by processing technologies:
profile extrusion

film extrusion

SALAVAT (Salavatnefteorgsyntez) -- On the grounds of basic facility for catalytic cracking (FCC) based on microspheric catalyst project approved earlier, further projecting continued. Сompletion of construction and launch of the unit are planned for 2014.

Basic FCC project was made together with Shell (FCC project) and Axens (equipment installation).

Today, Company's specialists have selected a developer to prepare documentation of the ⌠Project stage, prepared and started drafting agreement to implement other stages of the facility installation. Proposal from the leading European company to prepare hydrofining installation documentation is expected soon.

MRC