Celanese raises August VAM prices in Europe, Middle East and Africa

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, has increased August list and off-list selling prices for Vinyl Acetate Monomer (VAM) sold in Europe, the Middle East and Afric, as per the company's press release.

The price increases below were effective for orders shipped on or after 30 July, 2019, or as contracts otherwise allow, and are incremental to any previously announced increases.

Thus, VAM prices rose by EUR100/mt for Europe, the Middle East & Africa.

As MRC reported earlier, Celanese last raised its VAM prices for the stated above regions and Asia on 24 April, 2019, as follows:

- by EUR100/mt - for Europe, the Middle East & Africa;
- by USD50/mt - for AOC.

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 7,700 employees worldwide and had 2018 net sales of USD7.2 billion.
MRC

MOSCOW (MRC) -- Russia's production of high density polyethylene (HDPE) totalled 564,500 tonnes in the first seven months of 2019, down by 1% year on year. Two producers out of four reduced their output, according to MRC's ScanPlast report.

Russia's total HDPE production was 78,300 tonnes in July, which virtually corresponded to the last month's figure. Thus, overall HDPE output reached 564,500 tonnes in January-July 2019, compared to 571,000 tonnes a year earlier. Kazanogrsintez and Stavrolen's increased output could not offset the absence of production at Nizhnekamskneftekhim and lower output at Gazprom neftekhim Salavat.

The structure of polyethylene (PE) production by plants looked the following way over the stated period.

Kazanorgsintez's total HDPE production rose to 49,600 tonnes in July from 39,500 tonnes a month earlier, the Kazan producer reduced its output in favour of the linear low density polyethylene (LLDPE) production in June. The Kazan plant's overall HDPE output reached 318,400 tonnes in January-July 2019, up by 2.4% year on year.

Stavrolen produced about 28,400 tonnes last month versus 27,300 tonnes in June. The plant's overall output reached 182,500 tonnes over the stated period, up by 6% year on year. It is worth noting that Stavrolen plans to shut its production for a long turnaround on 1 September.

Gazprom neftekhim Salavat virtually didn’t produce anything in July due to a shutdown for a scheduled maintenance, whereas it's HDPE production was about 11,400 tonnes a month earlier. The Bashkir plant's overall HDPE output exceeded 61,500 tonnes in the first seven months of 2019, up by 11% year on year. We remind that the Salavat producer did not take off-stream its production capacities for maintenance last year.

Nizhnekamskneftekhim produced exclusively LLDPE over the stated period.

MRC

MOSCOW (MRC) -- A fire was extinguished on Thursday after breaking out at a refinery owned by Indonesian state oil and gas company PT Pertamina in Balikpapan in East Kalimantan province, reported Reuters with reference to the company's statement.

The fire was put out after 3 hours and an investigation will be carried out into its cause, company official Heppy Wulansari said, adding that the refinery remained operational.

Earlier in the day, Wulansari told Metro TV that one of the units at the 260,000 barrel per day capacity Balikpapan plant had been shut due to the fire. The plant supplies fuel to eastern Indonesia.

A Pertamina spokeswoman told reporters there had been no casualties.

As MRC informed before, in September 2018, Eni and PT Pertamina (Persero) signed in Porto Marghera, at Eni Green Refinery, a Memorandum of Understanding further expanding the relationship into green refinery.

Pertamina is an Indonesian state-owned oil and natural gas corporation based in Jakarta. It was created in August 1968 by the merger of Pertamin (established 1961) and Permina (established 1957). Pertamina is the world's largest producer and exporter of liquefied natural gas (LNG)
MRC

MOSCOW (MRC) -- Sinopec Maoming Petrochemical has undertaken a planned shutdown at its No.1 polypropylene (PP) unit in Guangdong, according to Apic-online.

A Polymerupdate source in China informed that the company has halted operations at its PP unit for turnaround on August 12, 2019. Further details on duration of the shutdown could not be ascertained.

Located in Guangdong, China, the No. 1 PP unit has a capacity of 170,000 mt/year.

As MRC informed before, in Jun 2019, SIBUR and Sinopec signed a number of agreements concerning the production and sale of petrochemicals.

Sinopec Maoming Petrochemical Company (Maoming Company) - a subsidiary of Sinopec- is located in Maoming, Guangdong and was founded in May 1955. The company now has a crude oil processing capacity of 13.5 million t/a and an ethylene production capacity of 1 million t/a. Maoming Company has turned out to be a large-scale integrated refining and chemical enterprise with refining as the leading business and petrochemical sector as the mainstay.

China Petroleum & Chemical Corporation, or Sinopec Limited is a Chinese oil and gas company based in Beijing, China. It is listed in Hong Kong and also trades in Shanghai and New York . Sinopec is the worlds fifth biggest company by revenue.
MRC

MOSCOW (MRC) -- US refiner Marathon Petroleum Corp beat estimates for quarterly profit, benefiting from better-than-expected earnings from its refining segment as well as higher sales in its gas stations business, reported Reuters.

Refiners in the United States have suffered from a lack of low-cost heavy crude in a market that has been hit by sanctions on Venezuela and Iran, and production cuts from Canada’s Alberta province and OPEC members.

However, industry analysts at Simmons Energy and Credit Suisse said Marathon had managed to keep its operating costs per barrel lower than expected.

The company’s earnings from its refining and marketing segment fell 11.6% to USD906 million, but beat analysts’ estimates of USD623.5 million, according to IBES data from Refinitiv.

Shares of the company, which posted a surprise loss in the preceding quarter owing to lower-than-expected refining margins, were up 3% in early trading on Thursday.

“One-times that drove the 1Q19 miss are now firmly in the rear view mirror and MPC looks all set to capture its synergy benefits,” Credit Suisse analyst Manav Gupta said.

Marathon’s refineries ran at an average utilization rate of 97% in the quarter, compared with 100% in the year-ago quarter.

Marathon refined 3.1 million barrels per day, 1.1 million bpd higher than a year earlier. The company said the increase was primarily due to the addition of Andeavor, which it bought in October.

The company, which said it continued to focus on optimizing its portfolio that could include asset divestitures, expects to refine 3.05 million bpd at an operating cost of $5.90 per barrel in the third quarter.

Net income attributable to the Findlay, Ohio-based company rose 4.8% to USD1.11 billion in the quarter ended June 30, as it was also benefited from a more than three-fold rise in its retail segment earnings.

Excluding items, it earned USD1.73 per share, beating analysts’ average estimate of USD1.32.

Total revenue and other income rose to USD33.69 billion from USD22.45 billion.

As MRC wrote previously, on April 29, 2018, Andeavor, Marathon, Mahi Inc. and Andeavor LLC entered into an Agreement and Plan of Merger providing for the acquisition of Andeavor by Marathon through a merger of Mahi Inc. with and into Andeavor, with Andeavor surviving the merger as a wholly owned subsidiary of Marathon and the subsequent merger of Andeavor with and into Andeavor LLC, with Andeavor LLC surviving the merger as a wholly owned subsidiary of Marathon.
MRC