INEOS Oligomers to build PAO plant in Texas

MOSCOW (MRC) -- INEOS Oligomers announced it had made the Final Investment Decision (FID) to build a new world scale, low viscosity Polyalphaolefin (PAO) unit on the INEOS site at Chocolate Bayou, TX, said Hydrocarbonprocessing.

This unit will have a capacity of 120 Mmtpy and become the world’s largest single PAO train. The plant is scheduled to start-up in 3Q 2019.

The new PAO unit will obtain its feedstock from the adjacent Linear Alpha Olefin (LAO) plant, which is currently under construction at the same site. This investment represents a major step forward in the ambitious growth plans for the INEOS Oligomers PAO business, complementing existing units in La Porte, TX and Feluy, Belgium.
MRC

Italmatch Chemicals acquires specialty chemicals company

MOSCOW (MRC) — Italmatch Chemicals has acquired Detrex Corporation, an American company headquartered in Cleveland (Ohio) and specialized, through its subsidiary The Elco Corporation, in the production of high performance lubricant additives, for industrial applications and high purity hydrochloric acid, as per Hydrocarbonprocessing.

The acquisition is coherent with the internationalization process undertaken by the Group in the last years, with a particular focus on the American market, and confirms the aim of expanding and broadening current production portfolio.

The transaction follows the recent acquisition of Sudamfos do Brasil, a leading Brazilian distribution company, specialized in marketing of phosphonates, phosphates and other special chemical products and approximately one year after the acquisition of Compass Chemical International, a chemical company independent of North America, leader in the production and marketing of special additives for water and oil & gas treatment.

Italmatch Chemicals is a global specialty chemical group with leadership in the production and marketing of performance additives for industrial lubricants, water & process treatment, oil & gas, and plastics.
MRC

S.Korean November Iran crude oil imports fall to 5-month low

MOSCOW (MRC) -- South Korea's Iranian crude oil imports in November dropped to the lowest level since June, due to reduced shipments from the Middle Eastern country to Asia affected by its production issues, reported Reuters.

South Korea's November imports from Iran were around 1.3 MMt, or 316,575 bpd, customs data showed on Friday. The import volume was 25.2% lower from 1.73 MMt from a year earlier, and 21.6% down from October.

South Korea, one of Iran's major Asian buyers, mainly buys an ultra-light oil, also known as condensate, but the crude oil data usually includes condensate without a breakdown of the imports.

Iran has stepped up its oil output to regain its lost market share since sanctions were lifted last year. But its condensate exports had been dented due to a "technical problem" at the South Pars field, with maintenance likely to take for 1-2 mos.

Nevertheless, Iran continues to retain its major Asian oil customers by offering spot cargoes and setting December prices at the lowest against Saudi light and heavy grades to make its oil products competitive.

South Korea's oil imports from Iran in the first 11 mos of this year jumped 36.5% to nearly 17 MMt, or 372,890 bpd, compared with 12.45 MMt over the same period last year, according to the customs data.

The world's No.5 crude importer's crude imports in November totaled 12.56 MMt, or 3.07 MMbpd, up 2.4% from 12.26 MMt from a year earlier, the data showed.

South Korea's imports of crude oil from Saudi Arabia were down about 13% to 3.26 MMt in November, or 797,036 bpd, from a year ago as the de facto leader of the Organization of Petroleum Exporting Countries (OPEC) is committed to the OPEC-led oil supply cut deal to erode a global oil glut and drive up prices.

In January-November of 2017, Korea's crude oil imports increased 3.7% to 135.51 MMt, or 2.97 MMbpd, versus 130.71 MMt during the same period last year.

Final data for South Korea's November crude imports data is set to be released by state-run Korea National Oil Corp (KNOC) later this month.
MRC

Reliance plans to resume Jamnagar PP unit

MOSCOW (MRC) -- Reliance Industries Ltd (RIL) is likely to restart a polypropylene (PP) unit following an unplanned shutdown, according to Apic-online.

A Polymerupdate source in India informed that the company has planned to resume operations at the unit on December 20, 2017. The plant was shut owing to technical issues in end-November 2017.

Located in Jamnagar in the Western Indian state of Gujarat, the unit has a production capacity of around 480,000 mt/year.

As MRC reported earlier, RIL shut its cracker, polyethylene (PE) and PP plants located at Hazira on March 23, 2017 for a maintenance turnaround. Both the plants remained off-stream for around 25 days. Located at Hazira near Surat in Gujarat, the cracker has a production capacity of 1.1 mmt/year and the downstream PP plant has a production capacity of 600,000 mt/year. The PE plant has a capacity of 450,000 mt/year.

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

Celanese raises January VAM prices in Asia, Europe, Middle East & Africa

MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company, will increase January list and off-list selling prices for Vinyl Acetate Monomer (VAM) sold in Asia, Europe, the Middle East and Africa, said the producer in its press release.

The price increases below will be effective January 1, 2018, or as contracts otherwise allow, and are incremental to any previously announced increases:

- for Asia outside China - by USD100 per tonne;
- for China - by CNY300 per tonne;
- for Europe - by EUR100 per tonne;
- for Middle East and Africa - by USD100/tonne.

As MRC wrote before, Celanese Corporation increased list and off-list selling VAM prices in Asia. The price increases below was effective as of 13 September, or as contracts otherwise allow, and were incremental to any previously announced increases: CNY500/mt for China and USD100/mt for Asia (outside of China). Earlier, on 6 September, 2017, the same price increase was already implemented by Celanese for the same products and regions.

But, the price increase of CNY300/mt, effective as of 1 October 2017, was also implemented in China.

Besides, Celanese Corporation raised October list and off-list selling prices for VAM and Vinyl Acetate Ethylene (EVA) emulsions sold in Europe. The price increases was effective October 1, 2017, or as contracts otherwise allowed, and were incremental to previously announced increases. The following price rise applied:

- VAM - by EUR200/mt;
- EVA - by EUR90/mt;
- VAM Homopolymers (PVAC) - by EUR90/mt;
- VAM Copolymers - by EUR90/tonne;
- Pure Acrylics - by 120 EUR120/tonne;
- Styrene Acrylics - by EUR90/tonne.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,300 employees worldwide and had 2016 net sales of USD5.4 billion.
MRC