Japanese petrochemical giants Marubeni and Mitsui are in talks with Rosneft

(Moscow Times) -- Japan's Marubeni and Mitsui are negotiating with Rosneft the possibility of their participation in the oil company's petrochemical project in Nakhodka, Primorye region.

At the meeting of the Russian-Japanese working group on oil and gas cooperation it was also said that it was important to speed up negotiations between Rosneft and the Japanese consortium of Inpex and Mitsui for the joint development of deposits in the Irkutsk region close to the Eastern Siberia-Pacific Ocean pipeline.

The petrochemical complex is expected to be commissioned in December 2016, cost about USD5 billion and process some 10 million tons of hydrocarbons per year.
MRC

(Chemmonitor) -- The Thailand-based polyester and yarn producer Indorama Ventures commissioned a polyethylene terephthalate (PET) unit in Southern Nigeria. Previously, the country had to import PET.

Consumption of the material in Nigeria reaches over 95,000 tonnes yearly. PET demand in Africa is estimated at about 941,000 tonnes per year.

The annual capacity of the plant totals roughly 75,100 tonnes of the material.
MRC

MOSCOW (MRC) -- In July, Chinese traders increased PVC import to 81,400 tonnes, up 27% from June. The year-to-date PVC import to China exceeded 554,000 tonnes, report MRC analysts.

Last month Chinese traders significantly raised PVC imports amid rising seasonal demand and a major price cut. In July, 81,400 tonnes of PVC were supplied to the Chinese market, up 27% from June. Meantime, PVC export from China dropped in July by 19% from June and made about 15,800 tonnes.

North-American makers still occupy the leading position in PVC imports to China. In July, imports from the USA made over 26,400 tonnes, up 56% from June (the year-to-date index makes 182,700 tonnes). PVC import from Taiwan did not rise that significantly (about 6% from June) and made about 28,600 tonnes. PVC imports from South Korea grew more than two and a half times up to 7,500 tonnes.

In general, over the past seven months 554,000 tonnes of PVC were imported to China, down 6% year-on-year. This year only makers from the USA, Taiwan and Malaysia managed to increase PVC supply volumes.

MRC

(Cardia) -- Cardia Bioplastics has secured a USD500,000 per annum supply contract with a global consumer products company, to provide Cardia Compostable bags as part of its consumer product offering.

The contract win is an important achievement for Cardia and adds another leading global brand to the Company’s customer portfolio. The new consumer product is expected to go to market in November this year. The Cardia Compostable bags will be used in conjunction with one specific product line, to encourage environmentally-friendly waste disposal practices.

The contract opens up significant future growth opportunities for Cardia because the relationship has the potential to expand into other product channels.

Cardia Bioplastics is a global developer, manufacturer and marketer of sustainable resins derived from renewable resources for packaging or plastic product solution. Company's materials are suitable for injection moulding, blow moulding, extrusion, film and coating applications.
MRC

(tatarstan) -- RT Leadership appreciates the quality and the organization of the work of China National Chemical Engineering Company (CNCEC) at the plant of "Ammonium" and hopes CNCEC will participate in other projects of oil and gas industry of the country. It was stated today by RT President Rustam Minnikhanov in a meeting with the chairman of CNCEC Jin Kening. The meeting was held at the RT House of the Government, and was also attended by the heads of major oil and gas industry enterprises of Tatarstan.

Welcoming the members of the Chinese delegation, Minnikhanov said that he visited the construction site of the plant "Ammonium" in Mendeleevsk district recently.

General Director of "Tatneftekhiminvest holding" Raffinate Yarullin told representatives of China about oil and gas industry projects in Tatarstan. In particular, "TAIF-NK", "TANECO" plan to create a complex of deep processing of heavy oil residues, the new plant of ethylene production with the capacity of 1 million tons per year in "Nizhnekamskneftekhim" is in prosess of construction.

RT President Rustam Minnikhanov assign Tatarstan companies to hold meeting with the delegation of CNCEC for a more detailed discussion of the possible participation of Chinese companies in projects in Tatarstan.

MRC