Elementis announces 2030 sustainability goals

MOSCOW (MRC) -- Specialty chemicals producer Elementis (London, UK) says it has committed to reducing waste by 10%, water usage in operations by 10%, increasing energy efficiency by 20%, and reducing greenhouse gas emissions by 25% by 2030, as part of its environmental sustainability goals, according to Chemweek.

“We will achieve our sustainability goals through three key areas of focus: innovation in sustainable solutions and products, efficiency in our operations, and the drive and passion of our people,” says Paul Waterman, CEO at Elementis.
The company has already taken action to achieve its sustainability goals at various locations around the world, it says.

As MRC reported earlier, Elementis PLC (ELM.L) said in February, 2013, it agreed, through its wholly owned subsidiary Elementis Specialties to purchase the assets of Hi-Mar Specialty Chemicals, LLC or "Hi-Mar" a US coatings additives company, for a cash consideration of USD33 million. Hi-Mar is a supplier of defoamers to the coatings, construction and oilfield drilling industries, with manufacturing and technical facilities based in Milwaukee, Wisconsin. The acquisition of Hi-Mar would further expand Elementis' product and technical service offering in these high value segments.

We remind that Russia's output of chemical products rose in June 2020 by 2.6% year on year. However, production of basic chemicals increased in the first six months of 2020 by 4.9% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the output in January-June, 2020. At the same time, June production of polymers in primary form fell to 791,000 tonnes from 820,000 tonnes in May partially because of a scheduled shutdown for maintenance at ZapSibNeftekhim. Output of polymers in primary form totalled 4,900,000 tonnes in the first six months of 2020, up by 14.8% year on year.

Elementis plc is one of the UK's largest speciality chemicals business. The Company comprises three businesses: Specialty Products, Surfactants and Chromium. Both Specialty Products and Chromium hold leading market positions in their chosen sectors. Elementis employs over 1,200 people at more than 30 locations worldwide.
MRC

MOSCOW (MRC) -- Indorama Ventures PCL's second-quarter net profit plunged 93% from a year earlier as some of its businesses were hit by Covid-19 restrictions, according to MarketScreener.

Net profit was 153.51 million baht ($4.9 million), sharply lower from THB2.27 billion a year ago, the Thai petrochemical-products company said Thursday.

Revenue fell 21% to THB75.01 billion, as its integrated oxides and derivatives business took a hit due to a drop in crude oil prices and falling demand for its products.

Indorama's fibers business also suffered, mainly because of softening demand from lifestyle companies and from the automobile sector.

As MRC informed before, Indorama Ventures is still assessing the damage after lightning struck its Lake Charles cracker in Louisiana in early August, 2020 said spokeswoman Krystal Medlock in an email Aug. 3. "No restart date is available at this time," Krystal Medlock said. At around 8:30 am CT (1330 GMT) Aug. 1, "lightning struck our Lake Charles ethylene cracker resulting in a plant trip of the facility and subsequent flaring. The plant is currently offline and being assessed by plant personnel," Indorama said in a statement. The unit has a capacity of 440,000 mt/year, according to S&P Global Platts data.

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

According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

Indorama Ventures Public Company Limited, listed in Thailand, is one of the world's leading petrochemicals producers, a global manufacturing footprint with 59 sites in 20 countries across Africa, Asia, Europe and North America. The company's portfolio is comprises necessities and high value-added (HVA) categories of polymers, fibers, and packaging. Indorama Ventures has approx. 24,000 employees worldwide and consolidated revenue of USD 11.4 billion in 2019.
MRC

MOSCOW (MRC) -- Oil major Royal Dutch Shell plans to buy a 50% stake in Indian-based Nayara Energy’s up to USD9 billion planned petrochemical project, reported Reuters with reference to a source familiar with the matter.

Global oil majors are looking at expanding foothold in the vast Indian market, where local refiners are investing billions of dollars to boost their petrochemical capacities.

They are looking to meet an expected surge in demand for goods ranging from plastics to paints as the country seeks to promote durable, cheaper materials in industries such as farming and food packaging.

Shell and Nayara - which is part-owned by Russian oil major Rosneft - signed a memorandum of understanding in early June, the source said, adding an equal joint venture will be created for building the project.

“The petrochemical joint venture between Nayara and Shell was discussed at board of directors meetings of Nayara in November and December last year,” another source said.

The 1.8 million tonnes a year full steam ethylene cracker and linked downstream units to be build at Vadinar in western Gujarat state would cost USD8 billion-USD9 billion and would be completed in five years, the first source said.

The project will also have an aromatic complex and capacity to produce 10.75 million tonnes of a variety of petrochemicals, according to Nayara’s proposal to the environment ministry.

Shell declined to comment on the project while Nayara did not respond to a Reuters request for comment.

Along with the petrochemical complex, Nayara also aims to expand its current 400,000 barrels per day Vadinar refinery to 920,000 bpd. The refinery expansion and petrochemical project are estimated to cost nearly 1.3 trillion Indian rupees (USD17.39 billion).

India’s environment ministry would hold a meeting on the expansion project on Aug 29-30, the first source said.

In India, Shell operates a liquefied natural gas import terminal, a port, fuel stations and a plant to turn waste into petrol or diesel. Last year it signed an equity investment deal with an Indian company specialising in biomass aggregation and processing for energy production. (Editing by Emelia Sithole-Matarise)

As MRC wrote earlier, Rosneft is spearheading a move to develop polymer production in India through its recently acquired local subsidiary, Mumbai-based Nayara Energy Ltd. In October 2019, preliminary plans were unveiled to construct a 450,000tpa polypropylene (PP) production plant at Nayara Energy's Vadinar oil refinery in Gujarat state, India, which is scheduled to go on stream in 2022.

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

According to MRC's DataScope report, PE imports to Russia dropped in January-June 2020 by 7% year on year to 328,000 tonnes. High density polyethylene (HDPE) accounted for the main decrease in imports. At the same time, PP imports into Russia rose in the first six months of 2020 by 21% year on year to 105,300 tonnes. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
MRC

1. LG Chem records substantial rise in net income, improved petchems performance

MOSCOW (MRC) -- South Korea’s LG Chem Ltd. reported more than doubled operating profit in the second quarter as electric vehicle demand stayed robust despite virus pandemic and further cemented the leadership of the world’s battery bestseller, with the order book packed for the third quarter, said Chemweek. In its regulatory filing on Friday, LG Chem announced its consolidated operating profit in the April-June period reached 571.6 billion won (USD480 million), sharply up from 206 billion won a quarter ago and 247 billion won a year earlier.





MRC

MOSCOW (MRC) -- Industrial and specialty intermediates manufacturer SRF Ltd. (New Delhi, India) has announced the establishment of a biaxially oriented polyethylene terephthalate (BOPET) plant at Jaszfenyszaru, Hungary, said Chemweek.

The BOPET plant will be built with an investment of EUR80 million (USD94 million). The facility entails a 10.4 m wide BOPET film line, with a production capacity of 40,000 metric tons/year.

SRF operates production sites in India, South Africa, and Thailand. The company announced earlier this month its plans to build a chloromethanes plant in India. The plant will have a production capacity of 100,000 metric tons/year and is due to be completed by January 2022. It is being built at a cost of 3.15 Indian billion rupees (USD42 million).

The company reported a 6.4% decline in net profit for the fiscal first quarter ended on 30 June to Rs1.77 billion compared with the corresponding period a year earlier. Revenue decreased by 12.3% year on year to Rs15.4 billion.

As MRC informed earlier, Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, announces that it has reached agreement with SRF Ltd., to acquire its Engineering Plastics business, a leading player in India in the development, production and sale of specialty materials.

According to MRC's ScanPlast report, Russia's estimated PET consumption totalled 367,720 tonnes in the first six months of 2020, up by 19% year on year. Russian companies processed 62,910 tonnes of material in June.

The multi-business corporate group SRF with head quarters in Gurgaon, India. SRF claims to be India’s second largest thin PET film manufacturer, with overall capacity for 60 KTa. The company has eight manufacturing plant locations in India and one each in UAE, Thailand and South Africa. The market leader in most of its businesses in its home market in India, SRF is the world's 2nd largest manufacturer of both the Nylon 6 tyre cord as well as the belting fabrics.
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