Celanese Corporation declares quarterly dividend of USD0.54 per share

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, declared a quarterly dividend of USD0.54 per share on its common stock, payable on November 8, 2018, as per the company's press release.

The dividend is payable to stockholders of record as of October 29, 2018.

As MRC reported earlier, Celanese last raised its list and off-list selling prices for Vinyl Acetate Monomer (VAM) sold in Europe, Middle East, Africa and the Americas on 1 October, 2018, as follows:

- by EUR50/mt - for Europe, Middle East & Africa;
- by USD0.03/lb - for the USA and Canada:
- by USD65/mt - for Mexico & South America.

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.
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Exxon Mobil bets big on China LNG, sidesteps trade war

MOSCOW (MRC) - In the middle of a Sino-U.S. trade war, the world’s largest publicly traded oil and gas company is turning toward Beijing for business at a time when most of Corporate America is looking elsewhere to avoid the threat of tariffs, as per Hydrocarbonprocessing.

Exxon Mobil Corp is placing big bets on China’s soaring liquefied natural gas (LNG) demand, coupling multi-billion dollar production projects around the world with its first mainland storage and distribution outlet.

Its gas strategy is moving on two tracks: expanding output of the super-cooled gas in places such as Papua New Guinea and Mozambique, and creating demand for those supplies in China by opening Exxon’s first import and storage hub, according to an Exxon manager and people briefed on the company’s plans.

That combination “will guarantee us a steady outlet for lots of our LNG for decades,” said the Exxon manager who was not authorized to discuss the project and spoke on condition of anonymity. One of the company’s top policy goals this year, the manager said, is building its Chinese client roster.

“China’s natural gas demand is rising really fast, with imports soaring well over 10 percent annually at the moment because of the government gasification program and due to fast rising industrial demand, including in petrochemicals,” the Exxon manager said.

An Exxon spokesperson declined to provide an executive to discuss the company’s LNG investments in China. Exxon said last month it would participate in the construction of an LNG import terminal in Huizhou, Guangdong region and provide supplies to it. This makes it only the second foreign major with such a stake in an LNG terminal.

Years in the making, the strategy delivers an added benefit: helping Exxon sidestep a global trade war. Exxon’s massive LNG projects in Papua New Guinea and Mozambique will not incur the 10 percent tariff China put on U.S. gas as part of the trade war between the Trump administration and Beijing.

Jason Feer, head of business intelligence at LNG tanker brokers Poten & Partners, which tracks LNG sales, said the deal provides “a sign that China is willing to let foreign interests invest in things that in the past were seen as strategic.”

Exxon is among the top ranked U.S. companies that are pushing ahead in China despite the trade dispute, but it is not alone. U.S. and European car makers are opening or expanding China plants to avoid hefty tariffs and transport costs. Tesla Inc this month acquired a Shanghai site for a car and battery-manufacturing complex.

Exxon’s Asian and African LNG will offer a cost advantage over U.S. rivals’ exports that face tariffs and greater transport, while China’s support for the project offers a rebuttal to Trump administration complaints about the country’s closed markets.

The decision to expand its LNG production and open an import terminal in the world’s fastest growing LNG market is a step by Exxon Chief Executive Darren Woods to pull the company out of an earnings rut that has left its shares flat over the past seven years.
MRC

PP imports to Belarus rose by 5.5% in January-August 2018

MOSCOW (MRC) -- Overall polypropylene (PP) imports into Belarus grew in the first eight months of 2018 by 5.5% year on year to 67,300 tonnes. Demand for all grades of propylene polymers increased, according to MRC's DataScope report.


August PP imports to Belarus were about 9,000 tonnes, compared to 8,800 tonnes a month earlier, local companies raised their purchasing of propylene homopolymers (homopolymer PP) in Russia. Overall imports of propylene polymers reached 67,300 tonnes in January-August 2018, compared to 63,800 tonnes a year earlier. Demand for all grades of propylene polymers increased, but homopolymer PP accounted for the greatest growth.

The supply structure by PP grades looked the following way over the stated period.


August imports of homopolymer PP to the Belarusian market rose to 6,600 tonnes from 5,700 tonnes a month earlier, local companies increased their purchases of homopolymer PP raffia in Russia. Overall imports of homopolymer PP reached 45,900 tonnes in the first eight months of 2018, up by 7.4% year on year. Russian producers with the share of about 89% of the total shipments were the key suppliers.

Imports of propylene copolymers to Belarus were 2,400 tonnes in the last summer month versus 3,100 tonnes a month earlier, local companies reduced their procurement of injection moulding statistical copolymers (PP random copolymers) in Russia. Thus, overall imports of propylene copolymers reached 21,400 tonnes in January-August 2018, whereas this figure was 21,100 tonnes a year earlier.

MRC

China Zhoushan city woos Exxon Mobil for a USD7 billion ethylene plant

MOSCOW (MRC) - The Chinese city of Zhoushan is in talks with oil major Exxon Mobil Corp (XOM.N) to build a USD7 billion ethylene plant in the city south of Shanghai, it said in a statement released, as per Hydrocarbonprocessing.

The facility would have annual production capacity of 1.5 million to 1.8 million tonnes, the statement said, making it larger than the 1.2 million-tonnes-per-year plant Exxon plans in the city of Huizhou in the southern province of Guangdong.

The move comes as China, the world’s top chemical consumer, sets out to complete the biggest expansion in petrochemical production in its history, with at least 13 ethylene complexes already planned in the next five years.

The push will include giving greater access to global majors to its massive chemicals market to produce plastics, coatings and adhesives for fast-growing consumer industries.

Exxon Mobil said last month it signed a preliminary deal to build a petrochemical complex including an ethylene plant in Huizhou.

At the same time, it also agreed to participate in a provincial project to build an liquefied natural gas (LNG) terminal in the city and to supply LNG for it though no details on timing were given.

Exxon also owns a 25 percent stake in a refinery and petrochemical plant in Fujian province in partnership with China’s top state refiner Sinopec.

Zhoushan, an island about 145 km (90 miles) south of Shanghai and east of the port of Ningbo, said it wants to attract investment in downstream chemicals, particularly in ethylene, with local refiner Zhejiang Petrochemical ready to start a 20-million-tonnes-per-year oil refining and petrochemical complex.

The city government also said it is in talks with United States-based conglomerate Honeywell for a 10,000-tonnes-per-year catalyst production project.
MRC

Exxon Mobil looks to sign LNG supply deal with Zhejiang Energy

MOSCOW (MRC) -- Exxon Mobil Corp is looking to sign a long-term liquefied natural gas (LNG) supply deal with Zhejiang Provincial Energy Group, which would be Zhejiang Energy’s first long-term supply deal, reported Reuters with reference to a senior executive's statement on Thursday.

Peter Clarke, president of Exxon Mobil gas and power marketing, was speaking at the International Petroleum and Natural Gas Enterprise conference at Zhoushan, near Shanghai.

Exxon Mobil is stepping up its efforts to meet soaring LNG demand, coupling multi-billion dollar production projects around the world with its first mainland storage and distribution outlet.

As MRC informed before, in October 2017, ExxonMobil Chemical Company commenced production on the first of two new 650,000 tons-per-year high-performance polyethylene (PE) lines at its plastics plant in Mont Belvieu, Texas. The full project, part of the company’s multi-billion dollar expansion project in the Baytown area and ExxonMobil’s broader Growing the Gulf expansion initiative, will increase the plant’s PE capacity by approximately 1.3 million tons per year.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world's oil and about 2% of the world's energy.
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