MOSCOW (MRC) -- Japan-based Sumitomo Chemical has entered into a joint-venture agreement with Tokyo-based Zeon, for creating a joint-venture company between the two companies and integrating their Solution Styrene Butadiene Rubber (S-SBR) businesses, said Chemicals-technology.
Both the firms will be focusing on developing new products and serve the customers in a better manner as well as in meeting their expectations.
The new joint venture will also try to bring their technologies together, which would further enhance their cost-competitiveness, and also bolstering their business through an ensured stable supply of products, or transferring their S-SBR business operations.
Sumitomo Chemical’s S-SBR will be used as a feedstock for fuel-efficient tires, adhering to environmental awareness as well as tightening environmental regulations.
The company anticipates that the demand for fuel-efficient tires is likely to increase steadily in the future. Most of the companies are looking forward to enhance their production capacities.
The two Japanese companies have also agreed that certain synergistic benefits should accrue from integrating their businesses in a manner outlined below.
As agreed in the joint-venture agreement, Zeon will establish a new wholly owned subsidiary called ZS Elastomer. Upon establishment of the new subsidiary, Sumitomo and Zeon will then succeed the rights and obligations of the sales and R&D functions of each company’s respective S-SBR business to ZSE.
Sumitomo and Zeon will be focusing on developing new products and serve the customers in a better manner, as well as in meeting their expectations.
The new joint venture will also try to bring their technologies together, which would further enhance their cost-competitiveness, and also bolstering their business through an ensured stable supply of products, or transferring their S-SBR business operations.
As MRC informed earlier, Kuraray, Sumitomo, and PTT Global Chemical have signed a Head of Agreement (HOA) to jointly perform a Detailed Feasibility Study (DFS) for potential project development of manufacturing and sales of butadiene derivatives in Thailand. This has been announced by the companies on 13 September 2016.
Sumitomo Chemical is a Japanese based manufacturer of a diverse range of products, including basic chemicals, petrochemicals and plastics, fine chemicals, agricultural chemicals, IT-related chemicals and pharmaceuticals.
MRC
MOSCOW (MRC) -- KBR, Inc. announced it has been awarded a license and basic engineering design (LBED) contract by Hyundai Oilbank (HDO) for an 80,000 bpd ROSE unit in Daesan, South Korea, said Hydrocarbonprocessing.
The unit will be built using KBR's proprietary ROSE technology, which provides solvent deasphalting (SDA), and will be the largest SDA unit in the industry.
Under the terms of the contract, KBR will provide the license for use of ROSE technology, as well as basic engineering design and post-start up services. The unit is expected to come on-line around the end of 2018.
The ROSE unit will remove heavier fractions from crude oil, allowing the refinery to monetize a larger proportion of its oil intake into lighter, high-grade products, which will enhance HDO's refinery margin.
"ROSE is one of the most cost effective ways to recover more valuable product from every barrel of oil," said John Derbyshire, President of KBR Technology & Consulting. "We are proud to partner with Hyundai Oilbank to help them upgrade their residue and become more competitive in the global refining landscape."
As MRC informed earlier, KBR, Inc. announced that its Saudi Arabian JV engineering operation, KBR-AMCDE, has signed an amendment to extend its existing General Engineering Services Plus Contract with Saudi Aramco.
MRC
MOSCOW (MRC) -- Saudi Arabia's PetroRabigh has brought on-stream its cracker following a maintenance turnaround, according to Apic-online.
A Polymerupdate source in Saudi Arabia informed that the company has recently resumed operations at the cracker. The cracker was shut for a planned maintenance on November 10, 2016.
Located in Rabigh, Saudi Arabia, the cracker has an ethylene production capacity of 1.6 million mt/year.
As MRC informed previously, Petro Rabigh completed all construction works for capacity expansion at its ethane cracker in late March 2016, after which the cracker's capacity rose to 1.6 million mt/year from 1.3 million mt/year.The company plans to gradually start up its new petrochemical units from QH2 2017.
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. Thus, the complex currently has a cracker to produce 1.6-million t/y of ethylene, as well as downstream production of polyethylene, polypropylene, propylene oxide, ethylene glycol and butene-1.
MRC
MOSCOW (MRC) -- Saudi Arabia's Advanced Petrochemical has acquired shares in National Industrialisation Co (Tasnee), as per Reuters.
Advanced said in July it planned to invest in a publicly listed company without disclosing its identity.
The company said the total cost of the shares purchased to date is 462.9 million riyals (USD123.43 million), representing just under 6 percent of Tasnee's share capital. The acquisition in Tasnee, which has interests in petrochemicals, metals and chemicals, was funded by the company's internal resources.
Any additional share purchases will be subject to approval from Advance's investment committee, it added.
As MRC informed earlier, in 2014, Tasnee, one of the largest industrial conglomerates in Saudi Arabia, has entered into an agreement to increase its stake in titanium dioxide (TiO2) producer Cristal.
Headquartered in Riyadh, Tasnee is primarily engaged in petrochemical, chemical and industrial projects. The
company produces petrochemical products, including polypropylene, polyethylene and acrylic acid, as well as other downstream petrochemical products.
MRC