Borealis introduces new Senior Vice President Operations

VIENNA (Borealis) -- Borealis, a leading provider of chemical and innovative plastics solutions, announces the appointment of James McCummiskey as Senior Vice President Operations, effective October 1.

He succeeds Philippe Roodhooft who has taken over the role of Senior Vice President Product Management & Supply Chain.

James McCummiskey joins Borealis from Ciba Inc. where he was most recently a member of Ciba's Group Executive Committee until the company's takeover by BASF. He began his career in 1973 at Ciba Inc. in Paisley, Scotland where he held several key positions within the manufacturing and engineering discipline, before becoming Head of the Global Business Unit Classical Pigments in 1996. Five years later, he took over the role of Managing Director at Ciba's largest single site chemical plant in Bradford as well as Grimsby, UK, where he later assumed the global business responsibility as Head Business Line Water. During this period he also successfully completed a number of special assignments to turn round difficult operational issues on other Ciba sites as well as fulfilling board memberships of JV's in Korea, China and India. In 2007, he was appointed Executive Vice President Ciba Inc. as Head of the Water and Paper Treatment Segment, based in Basle, Switzerland. James McCummiskey is a Scottish citizen and has Full Technical, Ordinary National and Higher National Certificates in Engineering from the City and Guilds of London Institute.

Borealis" Executive in CIS Roman Romanov is going to participate in Russian Polymers Summit on October 14, 2010, organized by ICIS and MRC. For more information please refer to http://www.icisconference.com/russianpolymers/ Summit official web page

MRC

LONDON (ICIS) -- BP will create a new division to strengthen safety and risk management across the group, following the Deepwater Horizon oil spill disaster in the Gulf of Mexico, the energy major said on Wednesday.

The Safety & Operational Risk function, brought in by the incoming chief executive Bob Dudley, would have sweeping powers to oversee and audit BP's global operations and intervene in all aspects of its technical activities, it added.

The new organisation was one of a number of changes announced by Dudley as he prepared to take over his new role on 1 October.

Tony Hayward stepped down as CEO following BP's investigation into the Macondo well incident in April which led to the explosion and fire that killed 11 people and caused widespread pollution.

MRC

(tsm) -- In China Tianjin Port Group is looking to begin trial operations of its new 350 million yuan (┬38.4 million) petrochemical terminal project by the end of 2010.

The petrochemical terminal project will be mainly used for SinoChem's new storage project in Tianjin Port, which will have a storage capacity of 950,000m3.

The terminal has a quay length of 509m with a 50,000-tonne and a 10,000-tonne liquid bulk cargo berth. The terminal's installed capacity is expected to exceed 5 million tonnes a year.

MRC

(Reuters) -- Investor Len Blavatnik and his company Access Industries have refuted claims that he was aware of a US$12 bln leveraged buyout in 2007 that created LyondellBasell would fail. They claim that they had every reason to believe the merger between Basell and Lyondell would succeed. Blavatnik had led the merger in 2007 to create the world's third largest petrochemicals maker, by crafting a leveraged buyout of Lyondell through Basell, which his company acquired in 2005.

A trustee acting on behalf of Lyondell's creditors sued Blavatnik, Access and other executives and advisors responsible for putting together the deal, claiming they set the company up to fail by leaving it with too much debt and unreasonably small capital.

MRC

(prw) -- The World Banks' Multilateral Investment Guarantee Agency (MIGA) is considering making a $5m guarantee for financing a new PET bottle preforms factory in Baghdad. It would be Iraq's first - operated by the country's Sebeel Al Safa Manufacturing Petrochemicals and Water Filling Company - and would supply drinks companies.

Because of Iraq's continuing instability, private guarantors are often reluctant to provide such assurances. The plant would initially produce preforms for half-litre water bottles. The investor requiring the five-year guarantee against transfer restriction, expropriation, war and civil disturbance is Turkish shareholder Karo Dis Ticaret ve Sanayi.

MRC