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COVID-19 - News digest as of 07.09.2020

September 07/2020

1. Tomskneftekhim shut PE and PP production

MOSCOW (MRC) -- Tomskneftekhim, a subsidiary of SIBUR Holding, started a scheduled shutdown for maintenance at its low density polyethylene (LDPE) and polypropylene (PP) production capacities on 2 September, according to ICIS-MRC Price report. The plant"s representatives said the outage was scheduled and would last for about two weeks. The plant plans to modernize its polyethylene (PE) production by means of repairs. Tomskneftekhim did not reduce output of its own products during the COVID-19 pandemic, said the plant"s CEO Andrey Kugaevsky in late June. There was no significant reduction in shipments of material to end consumers either, despite the temporary closure of the borders of certain countries and regions. At the same time, Tomskneftekhim postponed the shutdown for a turnaround from 15 June to 2 September due to the situation with the spread of coronavirus infection.

2. Citgo has no plans to idle damaged Lake Charles refinery, furlough workers

MOSCOW (MRC) -- Citgo Petroleum Corp said it is not planning to idle its 418,000 barrel-per-day (bpd) Lake Charles, Louisiana, refinery damaged by Hurricane Laura, reported Reuters. Rumors have circulated since Lauras passage over the Lake Charles area on Aug. 27 that Citgo was considering shutting the refinery for an indefinite period because of the extent of the damage and continuing low demand for motor fuels in the COVID-19 pandemic.

3. European refiners to see more consolidation post COVID-19

MOSCOW (MRC) -- More consolidation was expected in the European refining system post COVID-19 as operators had already been facing flat or falling demand and rising competition from new refineries in Asia, according to delegates at the S&P Global European Refining Virtual Conference Sept. 3. "There will be some consolidation in the refining system in Europe," according to Adi Imsirovic, research associate at the Oxford Institute for Energy Studies. As a result of the coronavirus pandemic, "we have lost 9 million barrels of demand," Imsirovic said, adding the immediate impact for a few simple refineries was that they "are worried about survival". In the past few months, commodity trader Gunvor announced its intention to potentially mothball its refinery in Antwerp, while France"s Total is likely to close its Grandpuits refinery near Paris and possibly transform it into a bioplastics plant.
Author:Margaret Volkova
Tags:Europe, bioplastics, PP, PE, crude and gaz condensate, LDPE, petrochemistry, Sibur Holding, Tomskneftekhim, Citgo petroleum corporation, Total Petrochemicals, COVID-19, Russia, USA.
Category:General News
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