(LUKOIL) -- Yesterday LUKOIL Finance Ltd. (100% LUKOIL affiliate) signed an agreement with Springtime Holdings (ConocoPhilips associate) about the purchase of 64 638 729 (7,6%) usual LUKOIL stocks at the price of $53,25 per stock and $3 442 012 319,25 totally.
The completion of the deal shall is expected on August 16 2010. The agreement also includes an option to purchase 98 728 900 (11,61%) LUKOIL stocks as depositary receipts.
(plastemart) -- Japan's largest propylene producer - JX Nippon Oil & Energy Corp., is to shut three propylene plants in September and October for maintenance. A fluid catalytic cracker at Negishi with 70,000 tpa propylene capacity will be first in line to be shut from Sep 19 to Oct 25, followed by an olefins conversion unit at Kawasaki with 140,000 ton propylene capacity for 22 days in October, followed by a FCC at Mizushima with propylene capacity of 120,000 tpa for 47 days starting October 6.
(PlasticsNews) -- Formosa Group's Chinese polypropylene production might be affected by a recent explosion at the firm's oil refinery in Mailiao.
No one was injured in the July 25 blast, which occurred in the refinery's desulphurizing unit. The cause of the explosion has not been identified, and officials with Taipei, Taiwan-based Formosa could not be reached for comment.
As a result of the explosion, units with almost 2 billion pounds of annual propylene monomer capacity have been taken down, according to published reports. Those units in part supply Formosa's PP works in Ningbo, China, which have annual capacity of almost 1 billion pounds of PP.
MRCMRC Reference
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
(Plastics News) -- An international financial firm has invested almost ┬54m with Solvay to fund a major PVC plant in Russia.
The European Bank for Reconstruction and Development approved the investment 21 July, along with an 11-year loan of ┬150m to RusVinyl, a Solvay joint venture that's building the plant in Kstovo. Solvay's SolVin Holding Nederland unit owns a 50% stake in RusVinyl.
When completed, the plant will have annual capacity of more than 700 million pounds of PVC and almost 500 million pounds of caustic soda. The plant is expected to create almost 700 jobs.
(plastemart) -- Taiwan's Formosa Petrochemical awaits a decision from the government on the deferral from August to October of a scheduled turnaround at its No. 2 naphtha-fed steam cracker in Mailiao with capacity to produce 1.03 mln tpa ethylene and 515,000 tpa propylene.An application was filed in mid July to postpone the 40-45 day turnaround scheduled to begin on August 21, after a fire broke out in first week July at its No. 1 steam cracker with capacity to produce 700,000 tpa ethylene and 350,000 tpa propylene, has been offline since the July 7 fire.
The application to delay the turnaround at the No. 2 unit may not meet with government approval due to the company's poor safety record. Formosa has had two fires within a month, spoiling its safety record. The No.2 cracker and the No. 3 steam cracker were unaffected by both fires and are currently operating normally.
MRCMRC Reference
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
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