McDermott awarded petrochemicals contract in Kuwait

MOSCOW (MRC) - Kuwait Integrated Petroleum Industries Co. (KIPIC) has awarded McDermott International, Inc. a technology contract tied to a major project in Al Zour, Kuwait, McDermott said.

KIPIC, a Kuwait Petroleum Corp. (KPC) subsidiary, has selected McDermott to provide the basic engineering, technology license and catalyst for an integrated low pressure recovery (LPR) and olefins conversion technology (OCT) unit at its Petrochemical Refinery Integration Project (PRIZe) in Al Zour, according to a written statement McDermott emailed to Rigzone. The contract recipient added that the completed unit will produce 330,000 metric tons per annum of polymer grade propylene using refinery by-product streams.

“This award marks the 50th OCT unit that Lummus Technology has licensed, and we are honored to celebrate this milestone with KIPIC,” stated Leon de Bruyn, senior vice president of McDermott’s Lummus Technology business. “This is a significant achievement that highlights the trust that our customers have in our industry-leading technologies."

The grassroots Al Zour Refinery will boast 615,000 barrels per day of capacity and will be designed to process heavy crudes, KIPIC’s project website states. McDermott noted that the PRIZe project will add a gasoline block, aromatics block, OCT unit, polypropylene units, associated utility and offsites facilities to the KIPIC site, which will include world-scale petrochemicals and gasoline manufacturing as well as liquefied natural gas import facilities.

McDermott's Lummus Technology is a leading licensor of proprietary petrochemicals, refining, gasification and gas processing technologies, and a supplier of proprietary catalysts and related engineering. With a heritage spanning more than 100 years, encompassing approximately 3,100 patents and patent applications, Lummus Technology provides one of the industry's most diversified technology portfolios to the hydrocarbon processing sector.
MRC

MOSCOW (MRC) -- Iran said a US decision not to renew sanctions waivers has "no value" but that Tehran was in touch with European partners and neighbors and would “act accordingly”, reported Reuters with reference to Iranian news agencies, citing the Foreign Ministry.

US President Donald Trump has decided not to reissue waivers in May allowing importers to buy Iranian oil without facing US sanctions, the White House said.

"The waivers ... have no value but because of the practical negative effects of the sanctions, the Foreign Ministry has been ... in touch with foreign partners, including European, international and neighbors and will ... act accordingly," the agencies quoted the ministry as saying.

As MRC informed before, in early April 2019, Indian refiners were holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member. In November 2018, US President Donald Trump withdrew from the 2015 Iran nuclear deal and re-imposed broad economic sanctions.
MRC

MOSCOW (MRC) -- Kraton Corp. (KRA) announced that its Board of Directors has appointed Atanas Atanasov to serve as the Company's Senior Vice President and Chief Financial Officer, effective May 6, 2019, said the company.

Atanasov will assume the CFO role from Christopher Russell, the Company's Chief Accounting Officer, who has also served as Interim CFO since November 2018.

Atanasov brings to Kraton over 20 years of financial leadership experience, with proven expertise in accounting, tax, financial planning & analysis, banking and capital market transactions.

Atanasov most recently served as a CFO of Empire Petroleum Partners, LLC. Prior to joining Empire in 2016, he served as Executive Vice President, CFO and Treasurer of NGL Energy Partners. Atanasov also spent nine years with GE Capital in various finance roles of increasing responsibility.
MRC

MOSCOW (MRC) -- Azerbaijan’s state energy company plans to expand the range of processed grades of oil at its STAR refinery in Turkey, reported Reuters with reference to its general manager.

The USD6.3 billion refinery had been processing only Russia’s Urals crude oil since it started operating in October 2018. SOCAR buys Urals from Russia’s Rosneft under a long-term contract as well as in the spot market.

"We will start buying from countries of the Middle East and Africa along with Urals from the next month," said Mesut Ilter, STAR Rafineri general manager.

"It’s not ruled out that we will be buying oil from Saudi Arabia and there is the possibility in the future of buying Kirkuk oil."

He said that the plant had already reached full capacity and intended to process about 900,000 tonnes of crude from May.

"In total, we plan to process 8 million tonnes of crude oil this year, because at the beginning of the year we have been working in test mode," Ilter said.

He added that SOCAR Trading had the exclusive rights to supply oil to STAR, which had an annual capacity of 10 million tonnes.

As MRC informed previously, in October 2018, Azeri state energy company SOCAR started up its new oil refinery in Turkey. The USD6.3 billion Star refinery, the first in Turkey built in 30 years, will supply feedstock to Turkish petrochemicals firm Petkim to help to cut Turkey’s dependence on imported refined oil products. It will boost Turkish refining capacity by 30 percent.

SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
MRC

MOSCOW (MRC) -- Russia's output of products from polymers grew in March 2019 by 1.8% year on year. And this figure increased by 2.8% year on year in the first three months of 2019, reported MRC analysts.

According to the Russian Federal State Statistics Service, March production of unreinforced and non-combined films was 96,100 tonnes, compared to 83,900 tonnes a month earlier. Output of films products grew in the first quarter of 2019 by 8.8% year on year to 252,000 tonnes.

Last month's production of non-porous boards, sheets and films rose to 33,600 tonnes from 27,900 tonnes in February. Thus, overall production of these products reached 86,400 tonnes over the stated period, up by 16.8% year on year.

March production of non-porous boards, sheets and films was 19,900 tonnes, which equalled the figure a month earlier. Overall production of these products reached 59,500 tonnes in the first quarter of 2019, compared to 61,900 tonnes a year earlier.

Last month's production of plastic windows and door blocks was 1,5580,000 sq metres and 70,300 sq metres, respectively, versus 1,394,000 sq metres and 53,700 sq metres in February. Overall production of these products was 4,032,000 sq meters and 189,400 sq meters, respectively, over the stated period, up by 9% and 11% year on year, respectively.

March production of plastic bottles and flasks exceeded 1,800,000 items versus 1,550,000 items a month earlier. Overall output of these plastic products totalled 4,950,000 units in the first three months of 2019, compared to 4,530,000 units a year earlier.

Last month's production of polymer pipes, hoses and fittings was 39,700 tonnes versus 37,700 tonnes in February. Overall output of these products was 109,100 tonnes in the first quarter of 2019, up by 2% year on year.

March production of sacks and bags from ethylene polymers exceeded 1,990,000,000 units, compared to 2,100,000,000 units a month earlier. Overall output of these plastic products totalled 5,990,000,000 units in the first three months of 2019, compared to 5,810,000,000 units a year earlier.
MRC