ThyssenKrupp awarded FEED contract for polypropylene plant in Russia

MOSCOW (MRC) -- ThyssenKrupp Uhde has won a front-end engineering and design (FEED) contract for a single-train polypropylene (PP) plant based on LyondellBasell's Spheripol process technology for ZapSibNeftekhim L.L.C, a wholly owned subsidiary of Sibur, as per Plastemart.

SIBUR is in terms of revenue the largest integrated gas processing and petrochemicals company in Russia, the CIS and Central and Eastern Europe.

The 500,000 tpa plant is planned to be constructed in Tobolsk, Tyumen Region, in West Siberia. LyondellBasell’s Spheripol process technology, which will be used at the plant, is the most widely used technology for the production of polypropylene.

The plant will produce a wide range of high-quality polypropylene brands for use, for example, in textile and packaging applications as well as in the production of automotive body parts and consumer goods.

As MRC reported earlier, in March 2013, LyondellBasel, one of the world's largest plastics, chemical and refining companies,announced that OAO Nizhnekamskneftekhim, the largest petrochemical company in Russia, had selected the company's Spheripol process technology for a new 400,000 tonne per year single-line polypropylene (PP) plant to be built in Nizhnekamsk, Russia Federation. The start-up of the new facility is projected after 2015.
MRC

ExxonMobil declares Q3 dividend

MOSCOW (MRC) -- The Board of Directors of Exxon Mobil Corporation has declared a cash dividend of 63 cents per share on the Common Stock, payable on September 10, 2013 to shareholders of record of Common Stock at the close of business on August 13, 2013, according to the company's press release.

This third quarter dividend is at the same level as the dividend paid in the second quarter of 2013.

Through its dividends, the corporation has shared its success with its shareholders for more than 100 years and has increased its annual dividend payment to shareholders for 31 consecutive years.

As MRC informed earlier, Exxon Mobil's first quarter 2013 earnings were USD9.5 billion, up 1% from the first quarter of 2012. Capital and exploration expenditures for the first quarter were USD11.8 billion, including USD3.1 billion for the acquisition of Celtic Exploration Ltd. The corporation distributed USD7.6 billion to shareholders in the first quarter through dividends and share purchases to reduce shares outstanding.

ExxonMobil Chemical Company manufactures and markets petrochemical products. It offers chemicals, such as aliphatic fluids, aromatic fluids, olefins, synthetic fluids and lubricants, higher alcohols, plasticizers, oxygenated fluids, neo acids, and polymer modifiers. The company also provides polymers, including butyl polymers, EPDM rubbers, santoprene TPEs, polyethylene, polypropylene, plastomers, hydrocarbon tackifier resins, styrenic block copolymers, and functionalized polymers, as well as specialty elastomers for elastic films and fabrics.
MRC

Prices of Russian PET grew by Rb1000/tonne

MOSCOW (MRC) -- Spot prices of Russian PET increased by Rb1000/tonne on tight supply and rising prices of imported material, according to ICIS-MRC Price report.

Thus, Russian bottle PET prices were Rb66,000-67,000/tonne FCA, including VAT. SIBUR was the initiator of the price increase, having raised prices at its plants in Tver (SIBUR-PETF) and in Ufa (Polief). SIBUR's PET prices rose to Rb67,000/tonne FCA, including VAT, whereas last week's deals were made at Rb66,000/tonne FCA, including VAT.

Prices of Kaliningrad PET in the Central region were heard at Rb66,000-66,500/tonne CPT Moscow, including VAT.

Given the lack of quantities, Solnechnogorsky Senezh did not carry out spot PET shipments. The plant's sources said ROSPET grades were unlikely to be available for spot shipments in August.

The situation with market sales was ambiguous. The first producer reported a noticeable drop in buying activity in the spot market in the last days of July-early August. Demand has declined significantly, but still remains quite strong. The second producer reported strong demand and shortage in the market.

According to MRC's estimates, demand for Russian material in the spot market will grow again in the remaining weeks of August. Rising price of Chinese PET, as well as the expected shortage of Russian material, will contribute to this.

Prices of Russian bottle PET in early August 2013 were Rb60,000-61,500/tonne EXW, including VAT.
MRC

Export prices of Belarusian LDPE rose by EUR10-35/tonne

MOSCOW (MRC) -- On Tuesday, high-density polyethylene (LDPE) rose by EUR10-35/tonne in the Belarusian export trades, while in the domestic trades, prices remained stable, according to ICIS-MRC Price report.

LDPE prices grew by EUR10-35/tonne from the second-half-of-July's level, despite low buying activity. Bids for shipments to the domestic market did not exceed the starting prices on Wednesday, 7 August.

Bids for LDPE 158 from Russian companies were heard in the range of Rb45,700-45,900/tonne FCA Novopolotsk, excluding VAT. Bids for shrinkable films PE ranged between Rb49,800-50,000/tonne FCA Novopolotsk, excluding VAT.

Bids from Ukrainian consumers were in the range of EUR1,115-1,120/tonne FCA Novopolotsk and EUR1,140-1,145/tonne FCA Novopolotsk for LDPE 158 and 102, respectively.

Deals for LDPE 158 in the domestic trades were concluded at Rb12,350/tonne FCA Novopolotsk, excluding VAT.
MRC

Radius Systems acquires global valve producer and supplier Aeon Group Holdings

MOSCOW (MRC) -- Radius Systems, the UK's leading supplier of PE pipes and fittings to the Gas and Water utilities sector, has announced the acquisition of 100% of the issued share capital of Aeon Group Holdings Ltd, according to the company's press release.

Andy Taylor, CEO of Radius Systems, said, "After the acquisition of the Subterra brand in June, AEON is our second acquisition following the purchase of Radius Systems by POLYPLASTIC Group in February this year. Our new owners have had no hesitation in supporting this transaction which keeps us on course with our agreed strategy to complement our core pipe and fittings business with closely associated products, services and technologies and in so doing enhancing our value added to our customer base. We are extremely pleased to add the Aeon brand and technologies to our portfolio and look forward to welcoming a skilled and dedicated workforce into the Radius/Polyplastic family."

As MRC reported earlier, in late February 2013, Polyplastic Group, the Russian and CIS market leader in plastic processing, completed the acquisition of Radius Systems.

Aeon, one of the leading global manufacturers and suppliers of valves to the fire protection, gas, water and oil exploration and transportation sectors, operates from three facilities in the United Arab Emirates (Dubai), Poland and the UK.

Radius Systems is the leading UK producer of PE pipe and fittings solutions to all major utilities companies in the gas, water and telecoms sectors. Radius generated net sales of over EUR100 million in 2012 and employs 370 people at its facilities in Hilcote (Derbyshire), Banbridge and Lurgan (both in Northern Ireland).

Polyplastic Group is the Russian and CIS market leader in engineered polymer products. Polyplastic is the largest producer of PE pipes and fittings in Europe with a total annual production of c. 250,000 tonnes and the market leader in polymer composite materials supply to the automotive, white goods and building materials sectors in the Russia/CIS markets with annual sales of c.80,000 tonnes.
MRC