Saudi Advanced to enhance polypropylene capacity in 2015

MOSCOW (MRC) -- Saudi Arabia's Advanced Petrochemical Company will raise the production capacity of its polypropylene plant in Jubail to more than 500,000 mtpa, from the current 450,000 mtpa, by mid-2105, as per Plastemart.

A debottlenecking project is currently on at the Advanced petrochemicals complex. Advanced has begun sourcing additional feedstock propylene to run its PP plant with the expanded capacity, the source added. The company inked an agreement with Jubail-based Satorp -- the joint venture between Saudi Aramco and Total Refining and Petrochemicals -- in August 2013 for supplies of 50,000 mt/year of propylene. Satorp has already begun supplying propylene to Advanced. Satorp produces 200,000 m tpa of polymer grade propylene and various aromatics at its refining and petrochemicals complex in Jubail.

As MRC wrote before, Advanced Petrochemical Company decided to invest in propane dehydrogenation (PDH) plant with SK Gas in South Korea for the production of propylene. The Board of Directors of Advanced Petrochemical Company approved the equity investment of 35% in PDH plant with SK Gas, for the production of propylene in South Korea, through its subsidiary Advanced Global Investment Company (AGIC) which is owned 95% by Advanced and sources of AGIC equity participation will be announced later.

MRC

MOSCOW (MRC) -- On September 30th 2014, the 2014 Kavaler Award was presented to James L. Gallogly, CEO of LyondellBasell, said Thechamistsclub.

Mr. Gallogly was named one of the ICIS 2013 Top 40 Power Players – the 40 CEOs and senior executives making the greatest impact on the global chemical industry. That illustrious group elected Mr. Gallogly from their own ranks for the ICIS Kavaler Award.

Few companies have capitalized on the U.S. shale gas boom better than LyondellBasell. Under Mr. Gallogly’s leadership, LyondellBasell has significantly boosted value by returning profits to shareholders though dividends and stock buybacks – all while making investments in key expansion projects that will raise cost advantaged capacity without massive capital outlays. Mr. Gallogly, as CEO, has established a solid financial footing for LyondellBasell that is set to be maintained for many years to come.

As MRC wrote before, LyondellBasell has announced that Chief Executive Officer James L. Gallogly will retire from the company in early 2015. Gallogly will continue to serve as CEO and chairman of the LyondellBasell management board in the interim to ensure an orderly transition pending the selection of his replacement. The LyondellBasell supervisory board of directors has formed a committee to choose Gallogly's successor.

LyondellBasell is one of the world’s largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell manufactures products at 55 sites in 18 countries. Its products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.
MRC

MOSCOW (MRC) -- Ineos Technologies (part of Ineos Group) has announced today it has entered into license agreements for its Innovene S and Innovene G polyethylene (PE) technologies to be used by the proposed ASCENT (Appalachian Shale Cracker Enterprise) petrochemical complex currently being evaluated by Odebrecht and Braskem in West Virginia, United States, as per the company's statement.

The Innovene G and Innovene S plants produce a full range of linear low density (LLDPE) and high density polyethylene (HDPE) with multiple catalysts, serving PE customers with innovative and consistent products.

Peter Williams, CEO of Ineos Technologies, said: "The selection of the Innovene G and Innovene S technologies for this landmark project in the United States is another milestone in the strategic technology partnership between the two companies. We are looking forward to working with the ASCENT team to deliver a successful world scale polyethylene complex in the Appalachian Region."

As MRC wrote earlier, Ineos had also signed polyethylene licensing agreements for Innovene S plants with Braskem-IDESA, which is building the Etileno XXI petrochemical complex in Mexico that is expected to be commissioned in 2015.

Ineos Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.
MRC

MOSCOW (MRC) - Kaustik (Volgograd), the fourth largest producer of polyvinyl chloride (PVC) in Russia, shut its capacity for scheduled maintenance works. Bashkir Soda Company began turnaround on Monday, 6, October, according to MRC analysts.

Kaustik Volgograd shut its 90,000 tonnes/year suspension polyvinyl chloride (SPVC) capacities for three weeks maintenance works on 3, October. Bashkir Soda Company shut its 210,000 tonnes/year PVC capacities for two weeks turnaround from 5, October.

Many market participants said they did not feel any PVC shortage in the market, despite the outage of two PVC producers.

As it was written before, SayanskKhimPlast shut its 280,000 tonnes/year SPVC capacities for a month long maintenance works in August.

Kaustik Volgograd manufactures and sells chemical products in Russia. The company offers nonorganic and organic chemicals, PVC and PVC processing products, specialty chemicals, and titanium anodes. The company produced 64,200 tonnes of PVC in the first eight months of the year.

Bashkir Soda Company Joint Stock Company manufactures and sells chemical products in Russia. The company offers nonorganic and organic chemicals, PVC and PVC processing products, specialty chemicals, and titanium anodes. Its products include terephthaloylchloride flakes, caustic soda, sodium hydroxide, polyelectrolyte, polyethylenepoliamines technical grades, dimethyldiallyl-ammonium chloride, aluminum chloride, hydrochloric acid, sodium hypochlorite, liquid chlorine, polyvinylchloride suspension, gaseous oxygen, gaseous and liquid nitrogen, synthetic hydrochloric acid, corrosion inhibitors, paraffines chlorinated liquid, polyelectrolytes, polyethylenepoliamines, adhesive and insulation PVC. The company produced 152,500 tonnes of PVC in the first eight months of the year.

MRC

MOSCOW (MRC) -- Dow Chemical, under pressure from activist investor Dan Loeb to break itself up, said it expects to reach accords to sell three units by year-end for proceeds of more than USD2 billion, reported Hydrocarbonprocessing.

The sale of its Angus Chemical Co., Sodium Borohydride and AgroFresh businesses should be completed early next year, the Midland, Michigan-based company said Thursday in a statement.

Dow, the largest US chemical maker, also said it divested part of its rail-car fleet, generating almost USD450 million in cash, and plans to take full ownership of a plastics joint venture with ExxonMobil.

Chairman and CEO Andrew Liveris is pursuing his own plan for asset sales after Loeb’s Third Point hedge fund said the company should spin off its petrochemical assets to improve profitability. Dow said Thursday that it has completed USD1.3 billion of asset sales and expects that its total divestments will be toward the higher end of its forecast range of USD4.5 billion to USD6 billion.

Liveris has defended his company’s integrated structure, which encompasses disparate businesses such as plastics and genetically modified seeds. Dow makes commodity chemicals, such as ethylene and propylene, to provide ingredients for its higher-value products in agriculture, electronics and plastics, he said in January.

No terms were disclosed for the acquisition of Exxon’s stake in Univation Technologies, which is expected to close by the end of the year. Dow said it's "working rigorously to rationalize its position in joint ventures that - while valuable - no longer align with Dow’s strategy."

As MRC wrote before, in late 2013, Grace completed the acquisition of the assets of the Polypropylene Licensing and Catalysts business of The Dow Chemical Company for a cash purchase price of USD500 mln. The acquisition includes UNIPOL Polypropylene Process Technology and makes Grace the second largest polypropylene licensor in the world based on installed capacity, advancing Grace's leadership in the broader polyolefin sector.

The Dow Chemical Company is an American multinational chemical corporation. As of 2007, it is the second-largest chemical manufacturer in the world by revenue (after BASF) and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont). Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.
MRC