25,000 tonnes of PP sold at Commodity Exchange of Turkmenistan

MOSCOW (MRC) -- The export trades for polypropylene (PP) were resumed at the State Commodity and Raw Materials Exchange of Turkmenistan in the second half of April. 25,000 tonnes of PP were sold during two trading days, according to ICIS-MRC Price report.

25,000 tonnes of PP were put up for auction in the export trades at the State Commodity and Raw Materials Exchange of Turkmenistan on 17 April. But no deals were concluded in the first week of the trades because of high starting prices. Actual deals began to be done only this week, when prices went down.

Thus, all PP quantities put up for auction were bought out during two trading sessions on 23 and 26 April. Deals were done at USD1,150/tonne FCA/FOB Turkmenbashi port with shipments within 2-11 months from the date of contracting.

As reported earlier, the previous sales took place on 12 March at the starting price of USD960/tonne FCA/FOB Turkmenbashi port; the final deals were done at USD1,225/tonne FCA/FOB Turkmenbashi port.
MRC

MOSCOW (MRC) - SABIC, a global leader in the chemical industry, has signed up to the UK Plastics Pact, a world-first initiative which aims to transform the plastic packaging system in the UK and keep plastic in the economy and out of the environment, as per the company's press release.

The UK Plastics Pact is a unique collaboration bringing together businesses from across the entire plastics value chain with UK governments and NGO’s to tackle the issue of plastic waste.

Led by sustainability experts WRAP, the Initiative was launched in London on Thursday 26 April 2018, at an official ceremony attended by The Secretary of State for the Environment Rt. Hon Michael Gove.

At present, 42 major businesses have committed to the Pact, including major food, drink and non-food brands, plastic reprocessors and packaging suppliers. Alongside SABIC, household names such as M&S, Tesco, Nestle and Unilever have committed to reach a series of ambitious targets by 2025 to eliminate avoidable plastic waste.

These targets include eliminating unnecessary single-use plastic packaging through redesign, innovation or alternative delivery models and ensuring that all plastic packaging produced is reusable, recyclable or compostable. The partnership will also help build a stronger recycling system and with the support of the Government will ensure that consistent UK recycling is met.

The UK Plastics Pact is the first of its kind in the world, led by WRAP which is a not for profit organisation. The Pact will be replicated in other countries to form a powerful global movement as part of the Ellen MacArthur Foundation’s New Plastics Economy Initiative.

SABIC is delighted to be a founding member of this initiative. Leon Jacobs, Sustainability Lead for Europe, said: “Plastics should not end up in the environment, landfills or the oceans. At SABIC, we are planning to scale up high-quality recycling processes for chemical recycling of mixed plastic waste to the original polymer. SABIC has the know-how, the resources and the resolve to help reduce the waste-stream.

This project contributes to SABIC’s ambition to create Chemistry that Matters. As there is still a long road ahead for plastic recycling towards a circular economy, the company believes that chemical recycling is fundamental to closing the loop of plastic waste in addition to other initiatives such as waste reduction, reuse and mechanical recycling.
“Plastics are valuable and have many benefits. We believe that with the steps we take today, we will directly affect the world, the economy and the quality of life in decades to come”, said Paul Davidson, Market Development and Support Engineer, SABIC.

As MRC wrote before, in late 2017, plastics-maker Sabic announced that it had developed new materials for customers producing LED automotive lighting parts. LEXAN HF4010SR resin is one of the new offerings. This polycarbonate (PC) material can make it possible for customers to develop complex headlight bezels with enhanced aesthetics. Sabic has also added new grades to its existing LEXAN XHT resin line, which can offer improved flow at high temperatures compared to other high-heat polycarbonate materials available today.

Saudi Basic Industries Corporation (Sabic) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
MRC

MOSCOW (MRC) -- American oil and gas giant Exxon Mobil reported on Friday its earnings per share for the first quarter of the fiscal year 2018 stood at USD1.09, improving 15% year on year, as per the company's press release.

The company said its revenue amounted to USD68.2 billion in the first three months of the year, up 14% compared to the same period in 2017. Exxon noted its United States Upstream earnings were also positive at USD429 million,
soaring 447% compared to the same period a year ago. Meanwhile, the firm said its net income was USD4.7 billion in the first three months of the year, rising 16% compared to the same quarter in 2017.

"Increased commodity prices, coupled with a focus on operating efficiently and strengthening our portfolio, resulted in higher earnings and the highest quarterly cash flow from operations and asset sales since 2014," said Exxon Mobil CEO Darren. W. Woods. He added: "Through new discoveries and acquired acreage, we’ve positioned our Upstream portfolio well for future growth. We also made good progress on our plans to improve the production mix and grow premium product sales in the Downstream and Chemical businesses."

Following the release of the quarterly earnings, Exxon Mobil shares fell 1% in the premarket trade on Wall Street.
MRC

MOSCOW (MRC) -- Russia's overall production of polypropylene (PP) grew in January-March 2018 by 3% year on year, slightly exceeding 366,000 tonne. At the same time, not all Russian producers increased PP production, according to MRC ScanPlast report.

Some producers increased capacity utilisation in March; PP production in the country exceeded 120,900 tonnes, compared with 113,900 tonnes in February. In general, in January-March PP production in the Russian Federation exceeded the level of 366 ,000 tonnes against 354,300 tonnes a year earlier, the greatest increase in production showed Neftekhimiya and Ufaorgsintez, while Nizhnekamskneftekhim, SIBUR Tobolsk and Stavrolen lowered production indicators.

The structure of PP production by plants looked the following way over the stated period.

The largest producer of PP in Russia - SIBUR Tobolsk in March produced about 39,800 tonnes against 39,100 tonnes a month earlier. SIBUR Tobolsk's PP production exceeded 126,500 tonnes in January-March 2018, down 2% year on year.

Poliom (Titan Group) produced about 19,100 tonnes of PP in March, compared with 17,200 tonnes in February. Total PP production at the plant over the reported period was about 54,700 tonnes, up 5% year on year.

Nizhnekamskneftekhim increased capacity utilisation in March, total polypropylene production reached 17,300 tonnes against 15,800 tonnes in February. The producer's PP production in January-March decreased by 6% from last year's level to 51,400 tonnes.

Tomskneftekhim increased production volumes in March, and the final production of propylene polymers was 12,500 tonnes against 11,100 tonnes in February. Total PP production at Tomskneftekhim over the reported period reached 36,400 tonnes, compared with 34,800 tonnes year on year.

March PP production at Ufaorgsintez increased to 11,800 tonnes from 10,300 tonnes a month earlier. The producer's PP output increased to 33,700 tonnes in January-March 2018 compared with 30,600 tonnes year on year.

Neftekhimiya (Kapotnya) also slightly decreased capacity utilisation in March, total polypropylene production had decreased to 9,900 tonnes against 10,700 tonnes in February. The producer's PP output in January-March reached 33,100 tonnes, up 52% year on year. A low indicator of the current year was a result of a long scheduled maintenance works in March-April.

Stavrolen (subsidiary of Lukoil) produced 10,500 tonnes of PP in March against 9,500 tonnes in February. Overall PP production at the plant reached 30,200 tonnes in January-March, down 1% year on year.


MRC

MOSCOW (MRC) - The Dow Chemical Company has joined the Catalyst CEO Champions For Change – a transformational diversity and inclusion initiative launched by Catalyst, a global thought leader and partner in accelerating the progress of women at work for more than 50 years, as per Hydrocarbonprocessing.

"At Dow we’re honored to be a Catalyst CEO Champions of Change Company. As we build and evolve for the future we must reflect the world we compete in today and will compete in tomorrow,” said Jim Fitterling, chief executive officer-elect for Dow and chief operating officer, DowDuPont Materials Science Division. “It is critical we create an inclusive and diverse environment where all people can bring 100 percent of themselves to work all the time."

"Our workforce must reflect the diversity of our customers and our communities but diversity alone is not enough,” said Andrew N. Liveris, chairman and CEO of Dow and director and former executive chairman, DowDuPont. “We must drive a culture where fresh ideas are considered a competitive advantage, not a risk to one’s career and build an environment where every employee has the ability to bring their true selves to work."

As MRC informed earlier, as part of DowDuPont Materials Science Division’s ongoing commitment to provide customers with greater access to expertise and products, the company announced that the technologies of Dow Corning Polyurethane Additives (PUA) will be incorporated into the Dow Polyurethanes portfolio under the Vorasurf polyurethane additives brand name.

The Dow Chemical Company is an American multinational chemical corporation. Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.
MRC