LG Chem to shut down aromatics plant in South Korea

MOSCOW (MRC) -- South Korean petrochemical company LG Chemical will be taking off-stream an aromatics plant for maintenance turnaround, reported Apic-online.

A Polymerupdate source in South Korea informed that the plant will be shut on October 15, 2014. It will remain off-stream till end-November 2014.

Located at Yeosu in South Korea, the plant has a benzene capacity of 240,000 mt/year, toluene capacity of 100,000 mt/year and solvent-grade MX capacity of 55,000 mt/year.

As MRC wrote before, LG Chem is planning to build an ethylene production plant in Atyrau, Kazakhstan. The project is going to be constructed in collaboration with two other Kazakh firms. The production is expected to begin in late 2016.

LG Chem Ltd., often referred to as LG Chemical, is the largest Korean chemical company and is headquartered in Seoul, South Korea. According to ICIS report, it is 15th biggest chemical company in the world in 2011. It has eight domestic factories and global network of 29 business locations in 15 countries. LG Chem is a manufacturer, supplier, and exporter of petrochemical goods, IT&E Materials and Energy Solutions.
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ExxonMobil suspends cooperation with Rosneft on Arctic oil project


MOSCOW (MRC) -- Rosneft and its head Igor Sechin were among the targets of the sanctions, imposed over Moscow's role in the Ukrainian conflict, which has claimed the lives of more than 3,000 people, said Reuters.

On Saturday, Rosneft said it had made an oil discovery jointly with ExxonMobil and that the two had successfully completed drilling of a well in the Kara Sea oil province, where oil reserves are estimated to be comparable to those of Saudi Arabia.

Exxon said earlier this month that the U.S. Treasury Department had given it a short extension to wind down a rig in the Kara Sea beyond the 14 days outlined in the sanctions targeting Western cooperation in Russia's oil sector.

"Theoretically, there was a possibility to continue the work, but it was necessary to obtain a new permit," Kommersant reported, citing one of the unnamed sources. "But (ExxonMobil) failed to get it. ExxonMobil should stop work and evacuate its personnel by mid-October."

Rosneft declined to comment on the report. ExxonMobil was not immediately available for comment.

As MRC wrote before, on 17 July 2014, the United States imposed its most wide-ranging sanctions yet on Russia's economy, including Gazprombank and the Rosneft Oil Co, and other major banks and energy and defense companies. Washington has steadily escalated its financial sanctions on Russia over what it views as Moscow's interference in its neighbor Ukraine.

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Wyoming Refining licenses Technip, ExxonMobil technology at new plant

MOSCOW (MRC) -- Badger Licensing announced that Wyoming Refining Co. has selected Badger to provide its proprietary BenzOUT technology for a 4,000-bpd grassroots plant to be built in Newcastle, Wyoming, said Hydrocarbonprocessing.

The unit converts benzene contained in the refinery's gasoline pool into high-octane blendstock by reacting the benzene with refinery-grade propylene.

The award includes technology license, process design, and start-up services. The project is currently in basic engineering and is scheduled for mechanical completion and startup in 2015.

"Wyoming Refining will meet MSAT II benzene regulations and gain several important benefits by choosing BenzOUT technology," said Stuart Agler, president of Badger.

"The technology will increase the octane in Wyoming Refining’s motor gasoline and does not require hydrogen," he added. "Wyoming Refining will also avoid high freight costs associated with shipping propylene by converting the propylene to high-octane gasoline blendstock."

Badger Licensing, headquartered in Boston, Massachusetts, is a venture of affiliates of Technip and ExxonMobil Chemical. Badger Licensing is principally engaged in marketing, licensing and developing technologies for ethylbenzene, styrene monomer, cumene and bisphenol A, in addition to BenzOUT technology.

As MRC wrote before, ExxonMobil Chemical announced that it will build facilities to manufacture premium halobutyl rubber and Escorez hydrogenated hydrocarbon resin at its recently-expanded petrochemical complex in Singapore. Engineering and procurement activities have begun, with construction expected to begin in the second half of 2014 and completion anticipated in 2017.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
MRC

Romanian company opens new factory for PVC window profiles after EUR5 mln investment

MOSCOW (MRC) -- Romanian company Electric Plus, headquartered in Bacau, recently finalized a EUR 5 million investment into a new factory that produces PVC window profile systems under the brand Barrier, said Romania-insider.

The new production line can make 700 windows each day and has 200 employees that operate it.

The company also produces PVC profile doors and will also start producing insulating glass next year.

Electric Plus is distributing its Barrier products in Romania, via a network of over 300 partners, but is also exporting PVC windows to Italy, France, Belgium and Germany. It also plans to enter the markets in Great Britain, Netherlands and Spain.

Electric Plus increased its turnover from EUR 2.8 million in 2010 to EUR 13.3 million in 2013 and made a net profit of EUR 595,000, according to data from the Finance Ministry. The company had 289 employees in 2013.
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Clariant to acquire Chinese packaging specialist Vitapac

MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has announced that it has signed a purchase agreement with VitaPac, a Chinese specialist for healthcare packaging, reported the company on its site.

The owner-led company with 80 employees is based in Hong Kong with a production site in Dongguan, China. It had consolidated sales of about CHF 4.0 million in 2013 (USD4.2 million).

The transaction is expected to be completed by the end of the fourth quarter of 2014 and subject to regulatory approvals.

VitaPac, founded in 1995, develops and manufactures a full range of high quality protective packaging solutions for the pharmaceutical, neutraceutical and food industries, as well as for the logistics and electronics sectors, mainly in the region of Asia-Pacific (APAC). The company focuses on active sorbents and has built up a leading market position for desiccant packets for moisture adsorption.

The bolt-on acquisition of VitaPac complements the portfolio of Clariant’s Business Line Medical Specialties within its Business Unit Masterbatches. The agreement will help Clariant to gain increased market share in important emerging markets especially in Asia but also to capture further sales in other regions. The acquired Dongguan plant will enlarge Clariant’s global footprint, furthering the reach to its multinational pharmaceutical customer base.

Hariolf Kottmann, CEO of Clariant, comments: "The acquisition of VitaPac is in line with our strategy to grow profitably by investing in new technologies and new markets. It will enable us to enhance Clariant’s existing portfolio of packaging solutions with new innovative products from the active packaging area, helping us to further develop our positioning in the medical specialties market."

As MRC wrote before, in April 2014, Clariant Chemicals (India ) Ltd., an affiliate of Clariant AG announced the successful closure of the acquisition of Plastichemix Industries - a Gujarat based masterbatches business in India, with production facilities at Rania, Kalol and Nandesari.

Earlier, last summer, Clariant and Tasnee, one of the largest industrial conglomerates in Saudi Arabia, announced the signing of an agreement to establish a masterbatches joint venture in Saudi Arabia.

Clariant Chemicals (India) Limited and custom color and additive products with production of more than 10,000 color matches which are completed each year. With more than 50 manufacturing plants around the world, Clariant
Masterbatches products, technology and service deliver competitive advantages that foster long-term customer relationships.
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