Future head of TNK-BP denied rumors about company's sale

(Vedomosti) -- BP might sell half of its share in TNK-BP, joint-venture operating in Russia and Ukraine. Gazprom and Rosneft are the most probable buyers, but there is a possibility that company's assets in Vietnam, Argentina and Pakistan will be sold as well.

Deputy head of TNK-BP Maxim Barskiy denied rumors about possible sale of BP share in the JV. ⌠As far as I know, no negotiations about sale are going, and they don't intend to sell their share, - said Barskiy who is going to take over the seat of company's head on January 1, 2011, as per Reuters. However, the question about the sale of a part of BP's share in TNK-BP was on the agenda of yesterday's BP Board meeting.

MRC

LONDON (ICIS news) -- European plasticiser buyers hoping for a summer respite to high prices and prevailing market tightness are now bracing for the opposite.

After last week's force majeure declaration from BASF, market supply is set to contract even further, and all varieties of plasticiser are likely to get more expensive.

Dioctyl phthalate (DOP), di-isononyl phthalate (DINP) and other plasticisers are primarily to make polyvinyl chloride (PVC) soft and flexible for end uses ranging from pipes and cables to flooring, medical devices and toys.

MRCMRC Reference

BASF. The share in the Russian market in 2008:
PS - 9.1% (GPPS - 5.9%, ABS - 11.4%, EPS - 10.6%).

Annual sales growth in Russia over the 5 years:
PS - 15%.

Imports by polymers processing technologies:
foaming;
injection molding

SAINT-PETERSBURG (SIBUR) -- Custom transit of two distillation towers delivered to Russia for the new polypropylene complex being under construction in Tobolsk has been accomplished.

Total length of each tower is 38 meters, diameter - 4,6 meters and weight - 60 tons. The equipment has been produced in Korea and water-borne delivered over the Indian Ocean and the Suez Channel to Antwerp (Belgium), and then reloaded and delivered to Saint-Petersburg. Now the towers will be sent along the Northern naval path calling at Irtysh.

MRC
MRC Reference

Sibur Holding is the largest Russian petrochemical group.

Shareholders:
Gazprombank (70% minus 1 share);
Gazfond (25% plus 1 share);
5% reserved for option program.

(TradingMarkets) -- GS Engineering & Construction Co. has received a letter of intent from a Thai oil company for an US$80 million deal to expand and run propylene facilities in the country.

Under the deal with an affiliate of Thailand's state-run oil company PTT Public Co., the South Korean builder will work to expand production capacity of propylene facilities in a region located 180 kilometers southeast of Bangkok.

The construction will start next month with its completion slated for August 2012. Once completed, they will produce 100,000 tons of propylene annually. As reported before, (see mrcplast.com from July 22), PTT is already on its way to restructure its business, and the process has been held due to legal issues.

MRC

(RBC-Ukraine) -- In Kalush, Russia's LUKOIL is to launch two JVs to produce chlorine and caustic soda using membrane method and PVC-S.

Total investments into both JVs are going to amount to nearly $350m.

Launch of chlorine and caustic soda production using membrane method is scheduled for September 17, and PVC-S plant is planned to be launched on December 25 this year.

MRC