Russia to support activities of Shell

MOSCOW (MRC) -- Russia will give all the necessary support to Shell in the Anglo-Dutch supermajor’s projects in the country, said Upstreamonline, citing President Vladimir Putin.

Putin, under pressure from international powers over continued destabilisation in Ukraine, met with Shell’s chief executive Ben van Beurden in Moscow on Friday.

"I am very pleased that your company plans to expand its area of activities in Russia," Russian news agency Itar-Tass quoted the president as saying to van Beurden. The president’s office carried photographs of the meeting.

"Either along agreements with your partners or during the implementation of your own projects in Russia, we will render all the necessary administrative support or any other form of assistance," Putin continued.

Shell has a large presence in oil and gas-rich Russia, including at the Sakhalin-2 project off the country’s far eastern region.

"We are proud both about our Sakhalin-2 project and cooperation with Russia in general," van Beurden said. "During our latest meeting with (Gazprom chief executive) Alexei Miller, we came to a conclusion that we need to continue developing this project."

As MRC wrote before, Shell and Gazprom Neft have kicked off pilot shale oil exploration under their joint venture partnership in Siberia. The pair’s Russia-based joint venture Salym Petroleum Development said it had started drilling the first of five pilot horizontal wells this year and next year.

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
MRC

Moscow (MRC) - Imports of polypropylene (PP) to Belarus increased by 5% in January and February 2014, with the main increase occurred for supplies of propylene copolymers, according to MRC analysts.

Total PP imports to Belarus were 10,800 tonnes in January and February 2014, compared with 10,300 tonnes in the same period a year earlier. Demand for homopolymer PP decreased by 8.1% over the reported period, while imports of propylene copolymers grew by of 58.2%.

Imports for homopolymer PP to Belarus decreased to 7,600 tonnes in the first two months of 2014, compared with 8,200 tonnes in the same period of 2013.

Russian producers increased their PP supplies because of lower price level (their shipments rose to 4,300 tonnes over the reported period, from 3,600 year on year), while European PP imports dropped.

Imports of propylene copolymers to Belarus increased to 3,200 tonnes in the first two months of the year, compared with 2,000 tonnes year on year.

All importers increased their supplies to the country over the reported period. The main suppliers over the reported period were producers from Germany (1,800 tonnes) and Czech Republic (over 500 tonnes).

MRC

MOSCOW (MRC) -- Imports of unmixed polyvinyl chloride (PVC) to Belarus fell by 40% over the first two months of 2014, which was caused by a slump in demand for finished products, according MRC analysts.

PVC imports into Belarus fell in January and February of 2014 to 3,400 tonnes from 5,700 tonnes a year earlier. PVC shipments were cut from Europe and the US because of a major fall in demand for finished products from PVC, particularly, for shaped and linear articles.

Some Belarusian converters were forced to shut down their production for maintenance as early as December 2013 because of almost a complete absence of demand for finished products from PVC both in the domestic and foreign markets. Companies resumed operations only in February, which affected PVC purchasing over the first two months of the year.

Germany still remained the main PVC supplier to Belarus. PVC imports from this country fell by more than twice over the stated period to 1,200 tonnes (3,100 tonnes - a year earlier). At the same time, imports from Poland rose to 1,500 tonnes from 1,300 tonnes a year earlier.

Russian producers managed to increase their presence in the Belarusian market over the first two months of 2014 because of lower prices compared with prices of European producers. PVC imports from Russia totalled about 500 tonnes (40 tonnes - a year earlier).

PVC imports from the US dropped in January and February of 2014 to 44 tonnes from 557 tonnes in January and February of 2013.
MRC

MOSCOW (MRC) -- Saudi-based Rabigh Refining and Petrochemical Co (Petro Rabigh) reported interim financial results for the fiscal period ending on March 31, 2014, said 4-traders.

The company made SAR 413.1 million net earnings (SAR 0.47 a share) in Q1-14, against SAR 658.1 million losses (SAR 0.75 a share) a year earlier. The company also reported a first-quarter operating profit of SR416 million compared with a SR628-million operating loss one year earlier. Sales were not disclosed.

As MRC reported before, Aramco and Sumitomo plan to expand the Petro Rabigh plant, and Aramco is building additional chemical capacity at Jubail on the Gulf.

PetroRabigh, a joint venture between Saudi Aramco and Japan's Sumitomo Chemical, has an annual output capacity of 18 million tonnes of refined products and 2.4 million tonnes of petrochemicals. For the whole of 2013, Petro Rabigh’s net profit declined 26.5% to SR359.2m.
MRC

МОSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company and a global leader in VAE emulsions, announced increase in the price of vinyl acetate-based dispersions sold in Europe, the Middle East and Africa, according to the companies press-release.

PVAc homopolymer dispersions will increase by up to EUR175/MT effective May 1, 2014, or as contracts allow. Vinyl acetate ethylene (VAE) and vinyl copolymer dispersions will increase by up to EUR125/MT effective May 1, 2014, or as contracts allow.

This price increase affects all applications including, but not limited to, adhesives, paints and coatings, building and construction, nonwovens, glass fiber, carpet, paper and textiles.

As MRC informed earlier, in November 2013, Celanese said it would begin discussions concerning the possible closure of both the acetic anhydride facility in Roussillon and the vinyl acetate monomer (VAM) production unit in Tarragona. This action is initiated to safeguard the competitiveness of the Celanese acetyl business.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. With sales almost equally divided between North America, Europe and Asia, the company uses the full breadth of its global chemistry, technology and business expertise to create value for customers and the corporation. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of EUR6.5 billion.
MRC