Chemetall becomes BASF new global brand for innovative surface treatment technologies

MOSCOW (MRC) -- It is just over one year since BASF's Coatings division acquired Chemetall, a leading global surface treatment supplier. Being well-known within the industry for its high-quality products and solutions, Chemetall will operate as a brand of the Surface Treatment global business unit of BASF's Coatings division, said Hydrocarbonprocessing.

During festive events at its headquarters in Frankfurt, Germany and facilities worldwide, the new brand image of Chemetall was officially introduced. Martin Jung, Senior Vice President, Surface Treatment, BASF's Coatings division, recognized this milestone: "One plus one is greater than two! Our new brand image reflects the impressive know-how of BASF in chemistry and coatings applications with the market-leading expertise in applied surface treatment from Chemetall. Together, the businesses will offer unmatched solutions competence to customers."

BASF has long been recognized as a global innovation leader. Chemetall enjoys a great history of global recognition for providing its customers with high-performance products and individual solutions. The combination of expertise and innovation power of two global market leaders will accelerate innovation and drive even more customer success.

Julia Murray, Global Marketing Communications Surface Treatment, said: "The Chemetall brand is recognized for its technology leadership, and we take a great deal of pride in our customer-focused and customer-centric approach, locally and globally. Being part of BASF's Coatings division creates opportunities to increase customer benefits from our combined expertise and commitment to continuous innovation. We expect to further advance our customers' access to best-in-class technologies, systems, and solutions across the value chain, always with the goal of enhancing efficiencies and value for our customers."

Under the Chemetall brand, BASF develops and manufactures customized technology and systems solutions for applied surface treatment. The products protect metals from corrosion, facilitate forming and machining, allow parts to be optimally prepared for the painting process and ensure proper coating adhesion. These products are used in a wide range of industries and end-markets, such as automotive, aerospace, aluminum finishing, and metal forming.
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MOSCOW (MRC) - Royal Dutch Shell Plc said on Monday it would acquire a 43.8 percent stake in the solar company Silicon Ranch Corp from investment manager Partners Group, as part of its new energies power portfolio, as per Hydrocarbonprocessing.

Shell said it has signed another agreement with the privately held company, which provides it the chance to raise its stake in Silicon Ranch after 2021. The deal is expected to close in the first quarter of this year, the company said.

SILICON RANCH Corporation, a U.S. developer, owner, and operator of solar energy plants, announced today that it has signed an agreement to make Shell its largest shareholder. As part of the agreement, Shell will acquire a 43.83% interest in Silicon Ranch from Partners Group, the global private markets investment manager, for up to $217 million in cash based on Silicon Ranch performance, with the possibility to increase its position after 2021. Partners Group will continue to support Silicon Ranch through a newly issued junior debt financing simultaneous with the closing of the sale. Subject to regulatory approvals, the transaction is expected to close in Q1 2018.

Nashville-based Silicon Ranch will continue to operate under its existing management and the Silicon Ranch brand. The fast-growing business has doubled its operating portfolio for three consecutive years, with approximately 880 megawatts of photovoltaic (PV) systems that are contracted, under construction, or operating in 14 states from New York to California, and close to 1 gigawatt more in its development pipeline.

The company has been a first-mover in a number of U.S. states and has deployed a differentiated, demand-driven approach to business development across a diverse customer set, with particular emphasis on building long-term relationships with electric cooperatives, military partners, and corporate customers across the country. The transaction will enable Silicon Ranch to accelerate its growth strategy by developing new projects, entering new markets, and expanding product offerings across its portfolio. The strategic partnership provides Shell a platform to establish a successful global solar business by aligning with a proven team in the second largest solar market in the world.
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MOSCOW (MRC) -- SNC-Lavalin announced that it has signed a Master Services Agreement, with approximate worth in excess of USD100M, with one of the world's largest plastics, chemical and refining companies, said Hydrocarbonprocessing.

The scope includes provision of all engineering support for the client's Gulf Coast facilities. SNC-Lavalin is one of a limited number of firms with world-class expertise at scale in this field across engineering, procurement, construction, consulting services on cost and program management, training, and operations and maintenance. SNC-Lavalin will utilize its downstream capabilities to increase performance, improve processing, and ensure a partnership with the client to meet their long term goals on their facilities.

"We are excited to work with our client in their downstream projects across multiple facilities on the Gulf Coast," said Joseph Lichon, Executive Vice-President, Americas, Oil & Gas, SNC-Lavalin. "Our innovation and market-tailored technical solutions in every stage of our client's projects enable us to provide considerable cost and production efficiencies on such projects. We are seeing a return to strength of the downstream sector, and we are working closely with a number of clients on future opportunities in this important area for refined product and chemicals production."
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MOSCOW (MRC) -- China's debt-ridden Guangdong Zhenrong Energy (GZE) has asked a private refining group to join a multi-billion dollar investment in an aging Caribbean oil plant to shore up financing on the deal, reported Reuters with reference to two Chinese executives involved in the matter.

The Curacao government last week scrapped a preliminary deal with Guangdong Zhenrong to operate the century-old Isla refinery, saying the state-controlled commodity trader lacked the financial muscle for the job on its own.

Taking over the 335,000 barrels-per-day (bpd) refinery, operated for decades by Venezuela's cash-strapped state oil firm PDVSA, would give China a foothold in the Caribbean's second-largest refinery, which has also been a key transfer point for Venezuelan oil heading to Asia.

Chen Bingyan, Guangdong Zhenrong's chief negotiator for the project, acknowledged that the Chinese commodity trader is saddled with heavy debt after rapid expansion but said that should not stop it from pressing ahead on the investment.

"Guangdong Zhenrong is facing financial difficulties and it will take time to sort out those problems ... because of this, we've brought on a large private Chinese firm to join the project," Chen told Reuters.

Baota Petrochemical Group, a privately-run refining and petrochemical group in northern China, has emerged as the new partner in the Curacao project, which requires USD3.4 billion to revamp the aging oil plant.

"What's more important, Baota has obtained USD3 billion worth of financial support from the Asia Development & Investment Bank," Chen said.

Chen said the bank's offer of financial support will be valid until January 2019, and its release of loans will be subject to the involved parties signing a final commercial contract and obtaining regulatory approvals.

Set up in 2009, Kuala Lumpur-based Asia Development & Investment Bank (ADIB) was funded by China Development Bank and oil-producing nations such as Malaysia and Saudi Arabia. The bank manages a credit line of USD40 billion with a focus on energy investments, according to the bank's website.
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MOSCOW (MRC) -- Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member's oil output capacity is nearing 5 MMbpd, but the country will remain in full compliance with its output target under a global pact to cut supplies, reported Reuters.

Luaibi said the supply cut agreement between OPEC and non-OPEC producers should continue despite a rise in oil prices.

"The market now is not 100 percent stable," he said at an industry conference in Abu Dhabi, adding that current oil prices could be sustained, but there might be some fluctuations.

For the week, Brent crude rose 3.3 percent, while U.S. West Texas Intermediate (WTI) crude jumped 4.7 percent, having hit its hit its strongest since late 2014 at $64.77 on Thursday.

The deal between the Organization of the Petroleum Exporting Countries and Russia to cut 1.8 MMbpd of crude, which started in January 2017, is due to last until the end of 2018. Luaibi said current Iraq's oil production is about 4.3 MMbpd. Despite the increase in oil production from the United States, "so far there is a balance" in the oil market, Luaibi said.

"We are watching the market and the market is okay in terms of supply and demand balance. There’s still a gap, inventories are still high. The inventory level will decrease gradually and we will see how things will go," he told reporters.

Luaibi also said that his ministry plans to conclude three contracts with international gas companies by mid-2018 to utilize gas from Basra, Maysan and Nassiriyah southern provinces.

He said that by 2021, the country plans to "reach zero gas flaring". Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the facilities needed to capture and process it into usable fuel. The country has just one gas processing company, the Basrah Gas Company, a joint venture between Iraq's state-run South Gas Co., Shell and Mitsubishi.

OPEC’s second-largest crude producer after Saudi Arabia, Iraq is seeking to increase its oil and gas income, which account for nearly all its public budget.
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