Qingdao Jinneng New Material selects world-leading PP technology of LyondellBasell

MOSCOW (MRC) -- LyondellBasell has announced that Qingdao Jinneng New Material Co., Ltd. has selected LyondellBasell’s world leading polypropylene (PP) fifth generation Spheripol technology for a 450KTA unit to be constructed in their petrochemical complex in Qingdao City, Shandong Province, P.R China, as per Hydrocarbonprocessing.

"The Spheripol process is recognized globally for its proven track record, favorable economics and its ability to produce the industry benchmark products that are demanded by customers," said Dan Coombs, executive vice president Global Manufacturing, Projects, Refining and Technology at LyondellBasell. "This fifth generation Spheripol technology is the result of a continuous improvement furthering our ability to meet customer needs."

Mr. QIN Qingping, Founder and CEO of Jinneng Science & Technology Company., Ltd., parent company of Qingdao Jinneng New Material Co. Ltd., said, "We selected Spheripol for its capacity to produce a broad product slate, process efficiency and outstanding performance of environment friendly technology." Spheripol is the leading polypropylene process technology with more than 24 million tons of licensed capacity. It combines globally recognized quality polypropylene grades with leading monomer efficiency and investment cost to make it the technology of choice.

As MRC reported earlier, in March 2018, Dongming Hengchang Petrochemical selected Spheripol PP technology from LyondellBasell for implementation at a plant in Heze City, Shandong Province, China. The plant will be capable of producing 200,000mt of PP per year. Grades of PP produced using the Spheripol process are often used to make film for the safe storage of food and plastic pipes for the delivery of drinking water, as well as wastewater removal and sterile syringes in the healthcare sector.

LyondellBasell’s Spheripol PP process technology has more than 22 million tonnes (Mt) of licensed capacity.
MRC

MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company, has declared a quarterly dividend of USD0.54 per share on its Series A common stock, payable on August 6, 2018, as per company's press release.

The dividend is payable to stockholders of record as of July 27, 2018.

As MRC informed before, Celanese Corporation announced that it will increase the price for emulsions sold in Europe. Effective July 1, 2017, or as contracts otherwise allow, the following price increases will apply:

- EVA - EUR75/tonne;
- VAM Homopolymers (PVAC) - EUR75/tonne;
- VAM Copolymers - EUR75/tonne;
- Pure Acrylics - EUR180/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 7,600 employees worldwide and had 2017 net sales of USD6.1 billion.
MRC

MOSCOW (MRC) -- KBR, Inc. announced it has been awarded a reimbursable Engineering, Procurement and Construction Management (EPCM) contract by Methanex Corporation for providing Front End Engineering Design (FEED) services for a 5000 MTPD world-scale methanol plant to be located adjacent to their existing Geismar, Louisiana facilities, as per Hydrocarbonprocessing.

Under the terms of the contract, KBR will work closely with Methanex to provide FEED services for a third methanol operating plant at the site. The FEED work, which will be executed from KBR's Houston Operations Center, is expected to be completed over the next 12 months with Final Investment Decision expected by mid-2019.

Pending a Final Investment Decision to proceed with the potential third plant in Geismar, KBR will then have the opportunity to provide detailed EPCM services for the new facility.

"This significant award demonstrates KBR's integrated engineering, procurement and construction management offerings, from the front end engineering, through project completion," said Farhan Mujib, President, Hydrocarbons Services Americas. "The award of this project demonstrates KBR's strength and capabilities in Gas Monetization projects. I am delighted for this opportunity to further KBR's partnership with Methanex and look forward to supporting Methanex on this major potential project."

For more than 40 years, KBR has designed, constructed and maintained hundreds of petrochemical plants across the globe.

Estimated revenue associated with this project will be booked into backlog of unfilled orders for KBR's Hydrocarbons Services Business Segment in Q3 2018.
MRC

MOSCOW (MRC) - China Petroleum and Chemical Corp expects to report its best quarter since 2013, based on Reuters calculations on a company forecast, boosted by a "favorable" downstream refining business and resurgent crude oil prices, as per Hydrocarbonprocessing.

The state oil major and China's top refiner, usually known as Sinopec, said in a statement it expects first-half net profit to rise by 50 percent from 27.1 billion yuan ($3.98 billion) in the same period a year ago.

That would be 40.65 billion yuan, according to Reuters calculations and the highest on records back to 2013. On a quarterly basis, that would be 21.9 billion yuan, the highest for Sinopec since the third quarter 2013, records show.

"The global crude oil prices increased year-on-year in H1, and company's upstream business improved substantially," the company said in the statement, adding that it has seen favorable mid- and downstream business results.

Oil topped $80 a barrel in May for the first time since 2014, boosted by OPEC-led output cuts and falling Venezuelan and Libyan output, as well as by an imminent drop in Iranian exports as U.S. sanctions return.

The bumper results also come as state oil refiners have exported record volumes of diesel and gasoline, grabbing a bigger share of the market as smaller independent refiners struggle with tough new taxes, a government-led environmental crackdown and crippling costs from the higher crude oil.

Sinopec, offshore oil and gas producer CNOOC Ltd and China's largest oil producer PetroChina will publish their final first-half results in August.
MRC

MOSCOW (MRC) -- Honeywell announced that Jizzakh Petroleum JV LLC will use Honeywell UOP technologies to build a new refinery capable of processing 5 million tons per year of crude oil to produce clean-burning gasoline, diesel and jet fuel. The refinery is being built in the Jizzakh region of Eastern Uzbekistan, as per Hydrocarbonprocessing.

Honeywell UOP will provide licensing and basic engineering design services to Jizzakh Petroleum for CCR Platforming, Par-Isom, Distillate Unionfining, Unicracking and Merox processes. When completed, the refinery will produce 3.7 million tons per year of Euro V-quality motor fuels, 700,000 tons per year aviation fuel and 500,000 tons per year of other products, including LPG and bitumen.

"Jizzakh Petroleum is building this refinery to increase production of high-quality motor fuels and meet growing domestic demand for those fuels," said John Gugel, president of Honeywell UOP. "The company chose Honeywell UOP due to the suitability of its technologies and its experience working in the region."

The Jizzakh refinery is part of the Uzbekistan government’s multi-year development plan to achieve national energy independence and increase the country’s export potential. With 33 million people, Uzbekistan is the most populous country in Central Asia.

Honeywell UOP’s CCR Platforming process converts low-quality naphtha to high-octane blending components for gasoline and a feed for aromatics production. Its Unicracking process provides deep refining of crude oil feedstocks, which enables it to produce transportation fuels that adhere to more stringent emissions regulations from a wider range of feedstocks than has previously been possible.

The UOP Par-Isom process upgrades light naphtha into high-value isomerate for gasoline blending, and the UOP Merox process treats jet fuel and LPG to meet product specifications. UOP distillate Unionfining is a middle distillates hydrotreating process that removes contaminants from feed streams.

The Jizzakh Refinery is a project of Jizzakh Petroleum JV LLC, a joint venture of JSC Uzbekneftegaz and Gas Project Development Central Asia (a subsidiary of Gazprom International).
MRC