Five Japanese polymer majors to reoganize Kashima Chlorine & Alkali and Kashima Vinyl Chloride Monomer Co.

(4traders) -- Asahi Glass, ADEKA Corporation, Kaneka Corporation, Shin-Etsu Chemical and Mitsubishi Chemical Corporation decided to reoganized its basic agreement reached on December 16, 2011 regarding the operation of both Kashima Chlorine & Alkali Co and Kashima Vinyl Chloride Monomer Co.

Both of the latter two companies are joint ventures of the above five companies. The reorganization will include the following actions:

- Asahi Glass, ADEKA and Kaneka will withdraw their capital investment from both Kashima Denkai and Kashima PVC Monomer. Shin-Etsu Chemical and Mitsubishi Chemical will continue their capital investment in both joint-venture companies, and from now on both of these companies will be operated as subsidiary companies of Shin-Etsu Chemical.

- A new company, Berth Company, will be set up. And and all the operation will be transferred to Berth Company from Kashima Denkai.
MRC

(plastemart) -- Sabic's unit, Jubail Chemicals Storage and Services Company (JCSSC), has awarded contracts for a new storage, handling and shipping terminal at King Fahd Industrial Port in Jubail to China National Chemical Engineering Corporation (CNCEC), at an estimated investment of USD400 mln.

JCSSC is a 75:25 joint venture between SABIC and Vopak.

The contract includes engineering works, procurement and construction of the facilities. The project will enable the continued growth of the petrochemical and downstream industries in Saudi Arabia.

Upon being commissioned in early 2015, the storage capacity of the terminal will be approximately 250,000 cubic meters. The first phase will consist of around 40 commodity and specialty chemical storage tanks, complete with truck handling and ship loading facilities for five berths.

We remind, as MRC informed earlier, that Sabic, the largest petrochemical company in Saudi Arabia, and the Anglo-Dutch company Shell are considering expansion to its joint project Sadaf. The companies plan to build a plant for the production of styrene, propylene oxide and polyurethane.
MRC

MOSCOW (MRC) -- Another polymer producer, Chemical Xinjiang Coal Chemical, has licensed INEOS technology for a process of homopolymers, random copolymers and impact copolymers production from INEOS Technologies. Chemical Xinjiang Coal Chemical is a subsidiary of China Shenhua Group Corp, according to hydrocarbonprocessing.

The 450-kilotonne/y plant will produce a wide range of PP products to meet the increasing needs of China's polymer market.

"I am very proud of the fact that China Shenhua Group has again chosen an INEOS technology platform for the development of its polypropylene business,' said Peter Williams, CEO of INEOS Technologies.

In early 2012, Shenhua chose an INEOS technology for its second MTO complex, which is scheduled to be built by a subsidiary, Yulin Coal Chemical Co., in the city of Yulin, Shaanxi Province.

As MRC reported earlier, INEOS is also Sibur's licensor of engineering of largest ethylene pyrolysis in integrated complex ZapSibNeftehim in Tobolsk. Besides, in September, eleven employees from Tobolsk-Polymer were trained in INEOS, Houston, Texas (USA).

Moreover, another Russian petrochemical major, Nizhnekamskneftekhim, signed a licensing agreement for the technology of polyethylene (PE) production with INEOS Technologies in late October, 2012.
MRC

MOSCOW (MRC) -- In October, Russian producers increased HDPE production to 70,000 tonnes. Over the past ten months, HDPE production volume in Russia made about 572,200 tonnes, according to MRC ScanPlast.

In October, Russian makers increased HDPE output to a record level of 70,000 tonnes this year, which is almost two times higher from September. It is worth noting that such a low index of September output was due to a scheduled outage for maintenance at Kazanorgsintez HDPE production line.

In early October, Stavrolen had resumed operations at its HDPE production and by the end of the month operational rates had reached 100%. In October, HDPE output made about 22,000 tonnes. In the first decade of October, Kazanorgsintez resumed HDPE production after a scheduled turnaround. The total output for the incomplete working month made about 25,800 tonnes. Last month, Gasprom neftekhim Salavat increased production volume of HDPE by 90%. In October, the level of capacity utilization at Nizhnekamskneftekhim remained at September level.

In October, there were no major changes in the structure of high-density polyethylene production according to consumption sectors. The resumption of production at Stavrolen allowed to increase the supply of film and blow moulding HDPE in the Russian market.

In general, over the past ten months, the total volume of HDPE output in Russia made about 572,200 tonnes, down 18% year-on-year. This year, Kazanorgsintez and Nizhnekamskneftekhim increased HDPE output by 27% and 29%, respectively, year-on-year. The first plant made it due to the increased capacity utilization and the second one - due to the production of LLDPE. Gazprom neftekhim Salavat decreased HDPE production by 15% due to a long-term turnaround in July-August this year.

MRC

(hydrocarbonprocessing) -- Repsol intends to arrive at an agreement with the Argentinean government for the nationalization of Repsol subsidiary YPF in April, according to the chairman of Spanish oil major Repsol. Argentina seized control of YPF after accusing Repsol of not investing enough in the unit.

Repsol filed suit against Argentina in May to recover more than USD10 billion in assets. The resolution of the suit, which was filed with the World Bank's International Centre for Settlement of Investment Disputes (ICSID), could take years, according to experts.

"We will go to the ICSID when we see best, but we can withdraw the request if agreement is reached," Chairman Antonio Brufau told the El Pais newspaper.

Repsol S.A is an integrated Spanish oil and gas company with operations in 28 countries. The bulk of its assets are located in Spain. It is now the 15th largest petroleum refining company according to the Fortune Global 500 list. The exploration and production area is the company's engine for growth, with investment focused on its exploration activity and 10 key growth projects, including some of Repsol's biggest exploratory successes in recent years. In these 10 projects, the company will focus its activities on Brazil, the United States, Russia, Spain, Venezuela, Peru, Bolivia and Algeria. The Downstream area (Refining, Marketing, Chemicals and LPG) is becoming a cash-generating business as the projects already underway to extend the Cartagena refinery and Petronor refinery in Bilbao are completed, increasing conversion capacity and the company's operational efficiency, accoring to the company's statement.
MRC