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

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

The price rise below is for orders shipped on or after 24 October, 2019 , or as contracts otherwise allow, and is incremental to any previously announced increases.

Thus, VAM prices rose by EUR70/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 18 September, 2019, by EUR50/mt.

According to MRC's DataScope report, September EVA imports to Russia fell by 22,7% year on year to 3,420 tonnes from 4,430 tonnes in September 2018, and overall imports of this grade of ethylene copolymer into the Russian Federation decreased in January-September 2019 by 18,2% year on year to 29,190 tonnes (35,690 tonnes in the first nine months of 2018).

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) -- Inner Mongolia Sanlian Chemical Co Ltd has experienced explosion on its carbide-based PVC polymerization unit around 3am midnight, reported CommoPlast with reference to market sources.

Based in Inner Mongolia, China, the carbide-based PVC plant has a production capacity of 400,000 tons/year. It has remain off-stream until further information. The cause of fire and details on the casualties was still under investigation and pending for further notice.

According to MRC's ScanPlast report, Russia's overall PVC production exceeded 720,500 tonnes in the first nine months of 2019, up by 3% year on year. At the same time, not all Russian producers raised their output.

Inner Mongolia Sanlian Chemical Corporation Ltd. manufactures and distributes chemical products. The Company produces polyvinyl chloride, trichlorethylene, caustic soda, and other chemicals.
MRC

MOSCOW (MRC) -- Saudi Aramco, which temporarily lost half of its oil production following the September 14 attacks on two key oil facilities, is running its local refineries at full capacity and is forging ahead with plans to start up new refineries, reported S&P Global with reference to the company's senior vice president for downstream Abdulaziz al-Judaimi's statement.

"Domestic refineries are operating at full capacity," Judaimi told reporters at the company's headquarters in Dhahran.

"We met every customer requirement (after the attacks)," he said, adding that Aramco did not buy crude to meet demand.

The attack on Abqaiq, the world's biggest oil processing capacity and Khurais, the country's second largest oil field, cut the company's output by some 5.7 million b/d.

Saudi Arabia's wellhead crude production stands at 9.9 million b/d, with production capacity of 11.3 million b/d, the country's oil minister Abdulaziz bin Salman said earlier this month.

The country intends to return to full oil production capacity of 12 million b/d by the end of November.

Aramco has five domestic refineries with total processing capacity of 1.9 million b/d.

Aramco is on track to start up by the end of this year a new 400,000 b/d domestic refinery and petrochemical project in Jazan, Judaimi said.

The company is also starting up a joint venture refinery in Malaysia next year, he added. According to Aramco's bond prospectus released in April, the refining and petrochemical joint venture with Petronas - the Malaysian national oil company - collectively known as PRefChem, was supposed to start this year.

The PRefChem joint venture includes a 300,000 b/d refinery, an integrated steam cracker with capacity to produce 1.3 million mt of ethylene located in Johor, Malaysia. Aramco was supposed to provide a significant portion of PRefChem's crude supply under a long-term supply agreement. Jazan and PrefChem will help Aramco reach a gross refining capacity of 5.6 million b/d, it said in the prospectus.

The company currently owns and has stakes in four refineries abroad with a total refining capacity exceeding 2 million b/d.

Aramco also expects to close by 2021 a deal to buy a 20% stake in the oil-to-chemicals business of India's Reliance Industries, a deal that will add another 1.4 million b/d of refining capacity to the Saudi company's portfolio, Judaimi said.

Aramco's long term goal is to have up to 10 million b/d of refining capacity, he added.

Aramco has been scouring the globe for opportunities to set up refining and petrochemical projects.

In April, Saudi Aramco acquired a 17% stake in South Korea's Hyundai Oilbank from Hyundai Heavy Industries. Oilbank has a processing capacity of 650,000 b/d.

This deal makes Saudi Aramco the second-largest shareholder of Hyundai Oilbank, following Hyundai Heavy Industries Holdings with a 74.1% stake in Hyundai Oilbank.

In September, Aramco signed a memorandum of understanding that facilitates its planned acquisition of a 9% stake in the Zhejiang integrated refinery and petrochemical complex in China.

In February, Aramco signed an agreement to form a joint venture with NORINCO Group and Panjin Sincen to develop an integrated refining and petrochemical complex located in China as well.

Aramco is also in the process of finalizing the acquisition of a 70% stake in SABIC, the Middle East's biggest petrochemical company, as the state-run firm forges ahead with beefing up its petrochemicals portfolio, Judaimi said.

"We are near the finish line on the SABIC acquisition," he said.

Aramco officials had said the company partly delayed its initial public offering of up to a 5% stake last year due to its acquisition of SABIC for USD69 billion.

As MRC informed previously, India’s planned giant refinery and petrochemical project, which is being built with Saudi Aramco and Abu Dhabi National Oil Co (ADNOC), will cost more than the originally planned USD45 billion. The 1.2 million barrels-per-day (bpd) giant coastal project is part of India’s plans to raise its refining capacity by 77% to 8.8 million bpd by 2030. It is being built at Roha, around 100 km (62 miles) south of Mumbai.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polyprolypele (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,436,390 tonnes in the first eight months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the PP consumption in the Russian market was 909,260 tonnes in January-August 2019, up by 10% year on year. Shipments of PP block copolymer and homopolymer PP increased.

Saudi Aramco is an integrated oil and chemicals company, a global leader in hydrocarbon production, refining processes and distribution, as well as one of the largest global oil exporters. It manages proven reserves of crude oil and condensate estimated at 261.1bn barrels, and produces 9.54 million bbl daily. Headquartered in Dhahran, Saudi Arabia, the company employs over 61,000 staff in 77 countries.
MRC

MOSCOW (MRC) -- The French industrial gas giant said group revenue totalled EUR5.5bn, up 3.5% on a comparable basis and in spite of a softening economic environment, Gas & Services posted robust comparable sales growth up 3.5%, said Gasworld.

In Engineering & Construction, sales to third-party customers were stable compared with the second quarter, with resources mainly attributed to internal Large Industries and Electronics projects.

Within its Large Industries business, Air Liquide highlighted the signature of three long-term contracts in Q3, in the US Gulf Coast with Methanex, in Canada with Shell Chemicals and in the Philippines with Pilipinas Shell.

Global Markets & Technologies continued its strong development with growth of 29.7%.

Commenting on the Q3 results, Benoit Potier, Chairman and CEO of Air Liquide, said, “Growth was driven by all Gas & Services activities, which represent 96% of the Group’s sales, as well as our Global Markets & Technologies business. Positive currency and significant scope impacts offset lower energy prices."

As MRC informed earlier, Air Liquide signs new long term contract with Kazakhstan Petrochemical Industries (KPI) to build, own and operate a new nitrogen unit in the growing chemical basin of Karabatan, close to the Atyrau refinery.

As MRC informed earlier, Air Liquide in 2018 signed a new long-term agreement with LyondellBasell, one of the world’s largest plastics, chemicals and refining companies, to supply oxygen to LyondellBasell’s new large-scale petrochemical plant which will be constructed in Channelview, Texas. LyondellBasell’s new propylene oxide/tertiary butyl alcohol plant (PO/TBA), is expected to be the largest of its kind plant in the world when completed.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,436,390 tonnes in the first eight months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the PP consumption in the Russian market was 909,260 tonnes in January-August 2019, up by 10% year on year. Shipments of PP block copolymer and homopolymer PP increased.
MRC

MOSCOW (MRC) --Italian plastics machinery maker Negri Bossi SpA is for sale, said Plasticsnews.

A European machinery executive who has knowledge of the deal confirmed the information with Plastics News Oct. 20, the fifth day of the K trade show.

"They did the due diligence, so there is somebody that is interested to buy the company," the source said.

The source could not disclose who the potential buyer is but said eight buyers were narrowed down to four, following due diligence. The source said the deal is probably "very close" to closing but could not say when it would be finalized.

Milan-based Negri Bossi has changed hands before.

In 2014, Italian plastics equipment major Sacmi Group sold Negri Bossi to Kingsbury Corp., a machinery firm based in Rush, N.Y. AuSable Capital Partners LLC of Santa Monica, Calif., also bought a stake in the company.

Negri Bossi makes injection molding machines up to 7,000 metric tons. It also supplies the Sytrama-brand of part removal robots.

As MRC infomed earlier, the Italian injection molding machine manufacturer has invested EUR 2 million to update its plant in Cologno, Italy, awaiting market recovery. In the mean time, production has begun in India at one of the group plants.
MRC