Total fails to renew Polish shale licence - ministry

MOSCOW (MRC) -- France's Total, Europe’s third-largest oil company, has not renewed its only shale gas exploration licence in Poland, reported Reuters with reference to a statement of a spokesman for Poland's environment ministry, in the latest decision from an oil major rethinking shale plans in the country.

"Total had an exploration licence in eastern Poland, near Chelm, which expired on April 1," said Pawel Mikusek, a ministry spokesman. "They didn't renew it."

Poland launched a major push into shale three years ago when Prime Minister Donald Tusk announced the country would seek to produce unconventional gas on a commercial scale in 2014.

But a revision in once promising shale reserve estimates, a lack of a legal framework and some poor initial drilling results have prompted Marathon Oil, Talisman Energy and Exxon Mobil to pull out of Poland.

As MRC informed previously, earlier this year, Total called on peers to revise projects that require tens of billions of dollars of investment as costs escalate. Total totalvowed to lower capital spending even as it starts projects from Norway to Angola to increase output.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
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MOSCOW (MRC) -- Royal DSM expects to begin producing cellulosic ethanol in the US by July as the government considers reducing the amount of renewable fuel that oil companies will be required to buy, said Hydrocarbonprocessing.

The USD250 million plant in Emmetsburg, Iowa, is a joint venture with ethanol maker Poet and will produce about 12 million gallons (45 million liters) this year, said DSM chief executive Feike Sijbesma. It will be able to make about 20 million to 25 million gallons annually and will reach full production by the end of the year.

Demand for the fuel is driven in part by US Environmental Protection Agency requirements that gasoline companies blend biofuels into their products. Those mandates increase annually while US gasoline consumption is declining.

As a result, the biofuel percentage in each gallon of fuel is rising, and is approaching the 10% level that refiners and automakers say may damage engines. The EPA in November proposed lowering the rate, a change DSM said is unnecessary.

There’s no reason a 10% ethanol blend can’t be used in US vehicles, and fuels with as much as 15% ethanol have been extensively tested, Welsh said.

The Emmetsburg plant will turn corn waste into cellulosic ethanol. That’s considered a second-generation biofuel, an evolutionary step beyond fuel produced from food crops such as ethanol from corn and sugar cane. DSM makes a broad range of chemicals, including enzymes used in food production and biofuels.

As MRC wrote before, Royal DSM (Heerlen / The Netherlands) has signed a partnership agreement with long fibre thermoplastic (LFT) specialist Plasticomp (Winona, Minnesota / USA) to develop bio-based LFT composite materials based on DSM’s "EcoPaXX" polyamide 4.10. The lightweight materials, which include compounds reinforced with glass fiber as well as carbon fiber, will be targeted at automotive and other performance-driven markets.

Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.
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MOSCOW (MRC) - PolyOne Corporation, a premier global provider of specialized polymer materials, services and solutions, has announced it has signed an expanded supply agreement with Dow Corning Corporation enabling PolyOne Distribution to sell Dow Corning brand silicones to healthcare customers in China, according to Polyone's statement.

By increasing its breadth of solutions, PolyOne is providing growth opportunities for US-based companies that manufacture medical-grade silicone healthcare products in China.

"This agreement with Dow Corning strengthens our portfolio to better serve our healthcare customers located in China, and also supports our strategy of helping U.S.-based multinational companies facilitate manufacturing in Asia," stated Kurt Schuering, president, PolyOne Distribution.

The addition of Dow Corning brand silicones to the PolyOne Distribution portfolio broadens the ability of both companies to support healthcare customers in China. PolyOne offers a single channel for thermoplastic and thermoset resins used in medical applications, and customers can also leverage expanded healthcare-focused resources to accelerate product development and regulatory compliance.

As MRC wrote before, earlier this year, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants.

Dow Corning provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicones, silicon-based technology and innovation, Dow Corning offers more than 7,000 products and services via the company's Dow Corning and XIAMETER brands.

PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
MRC

MOSCOW (MRC) -- Yansab said the profit fall was due to lower prices and higher sales and maintenance costs.Saudi Arabia’s Yanbu National Petrochemical Co (Yansab) missed the average forecast of analysts as it posted a 16.7% decline in first-quarter net profit, citing lower prices for some of its products, said Gulfbusiness.

The firm, a subsidiary of Saudi Basic Industries Corp (SABIC), made a net profit of SAR555.7 million (USD148.2 million) in the opening three months of the year, compared with SAR667.1 million in the same period of 2013, a statement to the Saudi bourse said.

Seven analysts polled by Reuters had forecast an average net profit for the quarter of SAR773.7 million. As well as lower prices, Yansab said the profit fall was due to higher sales and maintenance costs.

On Sunday, fellow SABIC unit Saudi Arabia Fertilizers Co beat estimates but still saw its first-quarter net profit dip 9.6%. SAFCO also cited lower product prices for its lower earnings.

As MRC wrote before, Yansab reported a net profit of SAR2.64 billion in full-year profit for 2013 , versus SAR2.45 billion in 2012, citing higher prices for its products and lower financing costs.

The objectives of Yansab are to engage in manufacturing of petrochemical products (Ethylene, Ethylene Glycol, High Density Polyethylene, Low Linear Density Polyethylene, Polypropylene, Butene 1, Butene 2, MTBE and BTX) in accordance with its Articles of Association, and other applicable regulations in the Kingdom. The Company commenced its Commercial operations on 1 March 2010 .
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MOSCOW (MRC) - JSC "Crimean Titan", owned by Group DF of Ukrainian businessman Dmitry Firtash, can be shut because of the restrictions in the feedstock supply from Dnepropetrovsk and Zhytomyr regions, according to a draft report to the Russian President Vladimir Putin.

The main suppliers of feedstock - ilmenite concentrate for Crimean Titan are Irshansky mining and processing combine in Zhytomyr region and Volnogorskiy MMC in Dnipropetrovsk region.

Crimean Titan, based in Armyansk, is the largest in Eastern Europe producer of titanium dioxide, which is used for the production of paints and varnishes, plastics, rubber, paper and other products. The nominal production capacities at the plant is 80,000 tonnes of titanium dioxide per year, the company employs about 4,900 people.

About 80% "Crimean Titan" production is exported to the Western Europe. "Crimean Titan" takes about 30% of the Russian market of titanium dioxide.

Dmitry Firtash has another major asset in Crimea - "Crimean Soda Plant", which accounts for about 2% of world production of soda ash. "Crimean Titan" and "Crimean Soda Plant" are leading chemical enterprises in Ukraine.

As it was previously reported, Firtash was arrested in Vienna on request of the US Federal Bureau of Investigation on suspicion of bribery and creating a criminal association. According to Ukrainian media Firtash ranked fourth in the ranking of the richest people in the country with the state of USD3.3 billion
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