Lukoil beaten to the Black Sea punch

(upstreamonline) -- Russian independent Lukoil has reportedly lost out to a four-member consortium including ExxonMobil and Shell in a competition for the rights to explore Ukraine’s Black Sea Skifska play.

The country’s environment and natural resources minister Eduard Stavitsky told journalists in Kiev that the joint bid had been chosen, according to Reuters.

The supermajor duo had entered a bid for the acreage along with OMV majority-owned Petrom of Romania and domestic player Nadra Ukrainy. The Skifska field purportedly has a potential yield of 3 billion to 4 billion cubic metres.

The minimum investment for the field in the first phase is USD198 million, according to the Ukrainian News Agency.

The consortium would be required to lodge a signing bonus of USD296 million within ten days of signing a production sharing agreement, the agency added.

No bids were received for a second field at Foroska, which has pulled, Ukrainian officials revealed earlier this month.

Ukraine, which wants to increase its energy independence from Russia, invited bids last June for potential partners for the two fields.

As part of its energy strategy, in May Ukraine picked Shell and Chevron as partners in projects to explore and develop two potentially large shale gas fields at Yuzivska and Olesska respectively.

Ukraine imports about two-thirds of its gas from Russia at a price that has been rising steadily for the last few years.
MRC

(hydrocarbonprocessing) -- Under the five-year deal, Jacobs will provide services ranging from feasibility studies and small plant modifications to discrete projects for Shell major refining and chemical sites in Pernis, The Netherlands, and Rhineland, Germany. The contract has an option to be renewed for five additional years.

Jacobs Engineering Group was awarded a five-year enterprise frame agreement from Shell Global Solutions to provide engineering and project management services to Shell's European downstream assets, the companies said on Tuesday.

The contract has an option to be renewed for an additional five years and/or to be extended to other Shell businesses such as upstream, and beyond Europe to the Middle East and Africa.

Under the deal, Jacobs will provide services ranging from feasibility studies and small plant modifications to discrete projects for Shell's major refining and chemical sites in Pernis, The Netherlands, and Rhineland, Germany.

"We are extremely proud to be selected for this important program of work for Shell," said Jacobs vice president Robert Matha.

MRC

(Business Journal) -- Braskem Ethylene XXI Project (Mexico) earth moving works have entered the final phase and work has already begun on construction and purchasing equipment with longer delivery lead times, with the complex's start-up in 2015 on schedule.

In line with its strategy to become more competitive and diversify its raw material sourcing, Braskem has implemented some actions to strengthen its position in the U.S. market, which included the acquisition of the propylene splitter assets at the Marcus Hook refinery and the strengthening of its long term commercial partnership with Enterprise Products for the supply of propylene through various contracts with terms in excess of 15 years.

Braskem returned to capital markets once again in July 2012 to raise USD250 million with a yield of 6.98% p.a. through the reopening of its 2041 bond issue. The objective is to take advantage of the opportunity in the market and prepay its short-and medium-term debt.
MRC

(Arkema) -- Arkema will present its latest generation Graphistrength Master Batches at NANO KOREA 2012 to be held at COEX, Seoul, Korea, one of the major international exhibitions devoted to nanotechnologies, from August 16th to 18th 2012.

The company's new master batches will be based on thermoplastics, elastomers and solid concentrates for use in thermoset, water-soluble or polyurethane formulations, as well as conductive additives in Lithium Ion Battery (LIB) Technologies.

This range of Master Batches contains up to 45% in weight of carbon nanotubes. Used as additives, they are prized in particular for improving electrical conductivity or mechanical performances. As it was mentioned previously by MRC, Arkema is devoted to development of nanomaterials with three product groups: the Graphistrength range of carbon nanotubes, the Nanostrength range of acrylic block copolymers, and the Altuglas ShieldUp PMMA sheet.

Arkema, a world leader in nanostructured materials, has started up a CNT production plant at its Mont site (France, Pyrenees-Atlantiques). This 400 ton/year plant operates an innovative process and is the only CNT production plant in the world to use an entirely bio-sourced raw material.
MRC

(ExxonMobil) -- ExxonMobil Chemical has recently introduced new Label-Lyte 40LL539 oriented polypropylene (OPP) film.

It is a lightweight, conformable, oriented polyolefin film that offers excellent converting characteristics and flexibility for demanding pressure sensitive label (PSL) applications, which include beverages (alcoholic, carbonated, mineral waters), health and beauty products, pharmaceuticals, general consumer goods, household products, PET food and other diverse markets.

ExxonMobil is an American multinational oil and gas corporation. It is the largest non-government owned company in the energy industry and produces about 3 percent of the world's oil and about 2 percent of the world's energy.
mrcplast.com