CNOOC division signs contract with Genoil to build a USD700 mln Refinery

MOSCOW (MRC) -- Hebei Zhongjie Petrochemical Company Ltd., which operates as a subsidiary of CNOOC, signed a contract for a 1 million 200000 tpa refinery, utilizing the Genoil Upgrading Process, as per Plastemart.

The Refinery will produce finished products for sale in the local Chinese market.

The previous engineering work and feasibility study done by the Chinese Petroleum Engineering Co, Ltd - Dalian Company, which is a division of Chinese National Petroleum Company (CNPC), will be the base for this new project. Genoil has already invested a substantial amount in the millions of dollars for this engineering work.

Hebei Zhongjie Petrochemical Company will make a 30% direct investment in the project. The profits are to be shared on a 50%-50% basis between Genoil and Hebei Zhongjie Petrochemical Company for the life of the project.
It has been the intention of CNOOC to significantly expand the annual refining capacity of Hebei Zhongjie Petrochemical Company's refining operation. "Genoil is excited to be participating in their expansion plans" says David Lifschultz, CEO of Genoil.

As MRC wrote before, CNOOC Oil and Petrochemicals Co. (CNOOC) has selected the LyondellBasell Spherizone technology for a 400 KT per year polypropylene (PP) plant planned to be built in Huizhou, China.


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MOSCOW (MRC) -- The US Environmental Protection Agency (EPA) has issued two final greenhouse gas (GHG) Prevention of Significant Deterioration (PSD) construction permits to M&G Resins to build a new chemical process plant and utility support facility, said Hydrocarbonprocessing.

The facility will be located in Corpus Christi, Texas.

"EPA will continue working with companies to ensure they have the permits they need,” said EPA regional administrator Ron Curry. “We are working to help Texas businesses take advantage of growth opportunities while building greener facilities with better controls for greenhouse gas emissions."

M&G Resins plans to build a new polyethylene terephthalate (PET) resin manufacturing complex along with a collocated combined support system for heat and power utility generation. The support system will be used for steam and electrical demands.

As MRC wrote before, M&G plans to use Alpek's IntegRex technology for the PTA unit, but will use its own technology for the PET unit. Alpek has purchased a USD350m multi-year sourcing agreement for rights to 400,000 tonnes/year of the plant's PET production.

The project will emit up to 1,178,441 tpy of CO2.

The additions will bring over USD1 billion in capital investments, create 3000 construction jobs, 250 long-term operations jobs and 700 support positions in the local area, according to the EPA news release.

M&G Group is a family owned chemical engineering and manufacturing group headquartered in Tortona, Italy. M&G Group operates in the PET resin industry in the Americas through its wholly-owned holding company, Mossi & Ghisolfi International S.A. (M&G International). M&G International is presently a leading producer of PET resin for packaging applications in the Americas, with a production capacity in 2012 of approximately 1.6 million tons per year. Thanks to its proprietary Easy-up PET Technology M&G International currently owns the world's largest single line PET plants in Altamira, Mexico (single line of 490,000 MT/year nominal capacity) and Suape, Brazil (single line of 650,000 MT/year nominal capacity).

MRC

MOSCOW (MRC) -- Arkema says it has become the ninth member of the Together for Sustainability (TfS) initiative, founded in 2011 by BASF, Bayer, Evonik Industries, Henkel, Lanxess and Solvay, as per the company's press release.

The goal of TfS is to develop and implement a global assessment and audit program to evaluate and improve sustainability practices in chemical industry supply chain. For this purpose, TfS members involve EcoVadis (Paris), a company specialized in corporate social responsibility (CSR) performance assessment, to measure the commitment of their registered suppliers.

For this purpose, TfS members involve EcoVadis, a company specialized in CSR (Corporate Social Responsibility) performance assessment, to measure the commitment of their registered suppliers. Independent audit companies are also conducting supplier audits on many criteria aiming at improving sustainability practices.

"The value of this approach is to share assessments and audits results between all TfS members on a web-based platform, instead of doing all of them separately on our own. Therefore it relieves both suppliers and customers from redundant audit workload. The platform is also a very convenient way to highlight CSR best practices" emphasizes Louis Schmidtlin, Goods and Services Procurement Vice-President.

As MRC informed before, Arkema announced the launch of a share capital increase with preferential subscription rights of shareholders for an amount of around EUR350 million, whose principle had initially been announced on 19 September 2014. This rights issue is part of the refinancing of the projected acquisition of Bostik.

Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.

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МОSCOW (MRC) -- Saudi Kayan Petrochemical Company , an affiliate of Saudi Basic Industries Corp (SABIC) , has signed two Islamic financing deals totalling SR 2.63 bln (USD700 mln), as per Reuters.

It signed a 1.5 billion riyal agreement with National Commercial Bank, the kingdom's largest lender by assets, for up to 15 years, and a 1.13 billion riyal facility with Samba Financial Group, another Saudi Arabian lender, for up to 10 years.

Both deals are under a Murabaha arrangement, a cost-plus sale arrangement which is commonly used in many parts of the Islamic world.

As MRC wrote earlier, Saudi Kayan, Sadara Chemical and Saudi Acrylic Acid Company (SAAC) have joined forces to establish a new company, which will build the first butanol plant in the Middle East and the largest in the world. The Saudi Butanol Company, which will produce butanol to support the growth of the paints and coatings industry in Saudi Arabia, will be located at Tasnee Petrochemicals Complex in Jubail Industrial City and operated by Tasnee.

Saudi Kayan Petrochemical Company is a manufacturing affiliate of the Saudi Basic Industries Corporation (Sabic).
MRC

MOSCOW (MRC) -- As the first company Evonik Industries launched a modular system of bio-based polyester polyols for reactive hotmelt adhesives, under the name DYNACOLL Terra, said the producer on its site.

These are the "green" alternatives to the petrochemical polyols, and also expand the property spectrum of the existing product range.

The DYNACOLL Terra range includes nine medium-molecular-weight polyester polyols in which the content of renewable raw materials ranges from more than 30 to 100 percent. As in the case of the petrochemical based grades, this is a modular system consisting of amorphous, liquid, and crystalline grades; their spectrum of viscosities, melting points, and glass transition temperatures determine to a large extent the properties of the formulated PUR hotmelts such as open time, initial strength, and setting time. The bio-based formulations allow the production of reactive hotmelts with properties comparable to those of petrochemically based polyesters; in some cases the products can be even better.

In developing DYNACOLL Terra, Evonik is underscoring its commitment to corporate responsibility and accelerating the trend in the chemical industry toward a greener future.

As MRC informed previously, Evonik Industries is paving the way for a new technology whose applications include automotive finishes that are more scratch-resistant than ever before. The specialty chemicals company has developed an industrial-scale method for producing silane-modified binders for automotive finishes. The advantage of these silane-modified binders: silane groups increase crosslinking density, making it possible to create automotive finishes that are flexible yet harder, leading to improved scratch resistance.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
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