Toyota Tsusho now strategic investor and corporate partner with Anellotech

MOSCOW (MRC) -- Anellotech, a sustainable technology company focused on producing cost-competitive BTX (benzene, toluene and xylene) from non-food biomass, made public Toyota Tsusho Corporation as a multinational strategic equity investor and corporate partner in the renewable aromatic chemicals supply chain, said the company on its site.

Toyota Tsusho is a member of the Toyota Group and is one of the major value chain partners (along with Suntory) in the Anellotech alliance, further validating the global market opportunity for Anellotech’s Bio-TCat technology.

Toyota Tsusho’s investment has been used to fund development of Anellotech's Bio-TCat technology, including the installation and commissioning of Anellotech’s new, fully-integrated development and testing facility (“TCat-8™”). This 25 meter-tall unit’s purpose is to confirm the viability and suitability of the Bio-TCat process for scale-up, and generate the data needed to design commercial plants using Bio-TCat technology.

The TCat-8 unit was jointly designed by Anellotech and its R&D partner IFPEN, and will use a novel catalyst under joint development by Anellotech and Johnson Matthey. After verification of the continuous operation of TCat-8, Anellotech Alliance partner Suntory plans to move ahead with studies to consider the development of the first commercial-scale Bio-TCat plant.

The TCat-8 unit has been installed at host South Hampton Resources’ Silsbee, Texas location. Remaining construction activities required to bring the unit online are scheduled to be completed shortly, followed by commissioning and startup of this first-of-its-kind development and testing facility later this year. Toyota Tsusho management recently visited the TCat-8 unit at Silsbee, and, noting the advanced stage of development, elected to make public their involvement in the program.

Toyota Tsusho’s interest in Anellotech’s technology is aligned with their goal of promoting sustainable bio-materials, including bio-based polyester (polyethylene terephthalate, or PET).

As MRC informed earlier, PTT Global Chemical, Toyota Tsusho Corporation and Sanyo Chemical Industries, Ltd. to jointly pursue the study on potential development of Propylene Oxide and Polyether Polyols Complex in Thailand.

Toyota Tsusho Corporation is the Toyota Group's general trading company that develops diversified businesses through more than 990 consolidated companies in Japan and overseas and with customers around the world, via a global network covering Japan and more than 90 countries worldwide. The Company organized its business under six operating divisions: Metals, Global Parts & Logistics, Automotive, Machinery, Energy & Project, Chemicals & Electronics, Food & Consumer Services.

Anellotech is developing the Bio-TCat process to produce cost-competitive renewable aromatic chemicals (benzene, toluene and xylenes, BTX) from non-food biomass for use in making plastics such as polyester, nylon, polycarbonate, polystyrene, or for renewable transportation fuels. Anellotech's key technical differentiator driving Bio-TCat’s cost-competitive advantage is its use of a one-reactor catalytic process.
MRC

MOSCOW (MRC) -- Reliance Industries Ltd.’s first-quarter profit climbed 19 percent aided by improved refining margins and a falling rupee at the operator of the world’s biggest oil-refinery complex, said Bloomberg.

Net income at the company increased to 75.5 billion rupees (USD1.1 billion) in the three months ended June 30 from 63.7 billion rupees a year earlier, the Mumbai-based company said Friday in a stock exchange statement and according to Indian Accounting Standards.

Boosting profits is crucial for billionaire Mukesh Ambani-controlled Reliance, which is preparing to start a USD15-billion telecommunications service this year and completing several projects in its refining and petrochemicals business for a similar amount. The oil-processing expansion will boost the company’s capacities at a time fuel and petrochemical product consumption in India is growing at a record pace.

Reliance earned USD11.50 for every barrel of crude it turned into fuels in the quarter, compared with USD10.40 a barrel a year earlier and USD10.80 a barrel in the three months ended March, the company said.

As MRC informed before, in February 2016, RIL was awarded a contract worth Rs. 100 crore to Petron Engineering Construction Ltd for its linear low density polyethylene (LLDPE) plant in Gujarat. The LLDPE plant is part of RIL's J-3 project in Jamnagar in the western Indian state of Gujarat. The J-3 project boasts of a petroleum refinery and allied petrochemical plants for the production of plastics and fibre intermediates.

Reliance Industries is one of the world's largest producers of polymers. Thus, the company produces among others polypropylene, polyethylene and polyvinyl chloride.
MRC

MOSCOW (MRC) -- South American engineering firm WorleyParsons has secured an integrated project management team (IPMT) contract from LyondellBasell, a global chemical and refining company, said Chemicals-technology.

LyondellBasell plans to construct a propylene oxide and tertiary butyl alcohol (PO/TBA) plant in Channelview and Pasadena, Texas.

The PO/TBA project in Texas is the largest single capital development project taken up by LyondellBasell with an annual capacity of 1 billion pounds of PO and 2 billion pounds of TBA.

WorleyParsons Americas regional managing director Chris Parker said: “WorleyParsons is very pleased to be the chosen IPMT for this world-scale project.

"As a leading project delivery service provider in the United States, we will provide a full range of our proven project management expertise and bring a strong collaborative culture to the IPMT, as well as our technical know-how and project delivery systems to ensure that the PO/TBA project will be executed successfully.

"We look forward to building a lasting and mutually beneficial relationship with LyondellBasell."

As per the agreement, WorleyParsons will work with LyondellBasell and assist the company in managing front-end engineering design (FEED) that started recently.

As MRC informed earlier, WorleyParsons, a leading provider of professional services to the resources and energy sectors and complex process industries, has been named by BASF as the Best Global Supplier of 2015 in the category of exceptional performance.
MRC

MOSCOW (MRC) -- Commenting on the global recycled plastics market report, analysts say the demand for plastic and its related products is increasing significantly, which in turn is attributable to the substitution of other materials and metals by plastics, sais PRNewswire.

Plastic is preferred in many automotive, healthcare, defense, and energy industries. This has been one of the primary reasons that have intensified the focus on plastic recycling. The recycling of plastic materials helps to decrease threats such as global warming, ozone layer depletion, and environmental pollution. Moreover, the recycled plastics market is expected to witness high rate of plastic recycling due to the increased consumption of plastic packaging materials in the coming years.

The analysts forecast global recycled plastics market to grow at a CAGR of 4.31% during the period 2016-2020, as per Sandle Research. Government policies and regulations regarding waste management, reuse and recycling of plastic waste, and systematic waste-treatment practices have boosted plastic recycling. The Americas dominate the global recycled plastics market, occupying around 50% of the total market share. Much of this region's growth comes from the availability of advanced technologies for recycling of polyethylene terephthalate (PET), high-density polyethylene (HDPE), and polypropylene (PP) plastics and due to the availability of skilled workforce.

According to the recycled plastics market report, the growing demand for plastics from healthcare, automotive, food and beverage, oil and gas, construction, and household products has stimulated the need for plastic recycling. The scarcity of petrochemicals, rising costs of raw materials and growing environmental concerns are also fostering the need for recycling. Bottles are the leading source material for recycling, and will constitute to more than half of the overall waste plastic consumption for recycling in the coming years. Also, the recycling plastics industry has placed significant efforts on increasing the collection of rigid plastic that includes thermoformed packaging and bulk containers, especially from commercial applications.

The recycled plastics market is highly fragmented due to the presence of many small and large vendors. Regional vendors dominate the market in many developing regions. The probability for newer players entering the market is high because the market is in its developing stage. There are no direct substitutes for recycled plastics, and this will foster the market for recycled plastics during the forecast period.
The following companies are the key players in the Global Recycled Plastics Market: Avangard Innovative, B. Schoenberg & Co, Delta Plastics of the South, and UltrePET LLC. Other prominent vendors in the market are: CarbonLITE Industries, Marmax Products, ORBIS, PolyPrime, and Worldwide Recycler Services.

As MRC informed earlier, MEPs have passed a non-binding Resolution demanding that the European Commission does not authorise the recycling of plastics containing the phthalate plasticiser DEHP. The Resolution, passed in the European Parliament, says the substance poses a toxic threat to exposed workers and could render their male foetuses sterile.
MRC

MOSCOW (MRC) -- The trading arm of Azerbaijan's state oil firm, Socar, expects to lose around USD9 M because of bad debts with Morocco's troubled refiner Samir, it stated along with record 2015 results published this week in Malta, said Hydrocarbonprocessing.

The refiner that runs Morocco's only refinery at Mohammedia has been ordered into liquidation after racking up millions in debt to creditors and approximately USD1.3 B in unpaid taxes to the government. Socar Trading Holding Ltd., headquartered in Geneva, estimated a net USD9 M loss with Samir after taking into account partial debt recovery through insurance.

Samir, in which Saudi billionaire Mohammed al-Amoudi's Corral Holdings has a 67.3% stake, was granted in June another six months to attract a buyer. Socar Trading said it made a record net profit for the year of USD91.4 M, up from USD27.1 M in 2014 on the back of profitable third party business, the gradual ramp up of storage operations at the Russian oil terminal Ust-Luga and the dismissal of non-performing traders.

Revenues were down in 2015 at USD22.65 B versus USD39.02 B in 2014. The gross volume of commodities traded fell year-on-year to 47.7 M tons from 48.6 M tons. Just under half the volume was system barrels, 10.2 M tons was third party crude oil and 15 M tons were refined products.

Socar expanded its presence in Africa in 2015 by buying a 20% stake in Benin's Octogone Stockage de Produits Petroliers that deals with crude storage.

Socar Trading is also set to expand in Angola after setting up a new company, STL Oil and Gas SA, in which it holds a 49% stake. It already has a presence on the trading side in Nigeria and Egypt.

According to the Switzerland's company registry, STL's purpose is to hold and manage investments in the upstream oil and gas industry in Angola.

Earlier this year, Socar Trading's chief executive told Reuters that it was also looking to renew deals with Iran.

As MRC informed earlier, Cryogenmash company, included in Gazprombank Group, will develop and deliver a nitrogen unit for the construction project of SOCAR Polymer company’s plants for the production of polypropylene and high density polyethylene.

SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
MRC