Borealis will use new heat recovery technology at LDPE plant in Belgium

MOSCOW (MRC) - Borealis will use a new system to convert waste heat into process energy at its LDPE plant in its Antwerp, Belgium complex, the first commercial application of the technology, the manufacturer said.

This Qpinch technology uses a chemical process to raise the temperature of the waste heat, which allows it to be used for production with lower operating costs and power consumption than conventional heat pumps.

Qpinch won the ICIS Innovation Awards at the end of 2020 because its technology allows manufacturers to more efficiently use waste heat to control production by creating a closed loop system.

The technology scales from 1 to 50 megawatts. The Borealis demonstration plant intends to test the process capabilities with a view to expanding its use in the company's production facilities.

Earlier it was reported that Borealis in March last year resumed production of high-density polyethylene (LDPE) in Stenungsund (Stenungsund, Sweden) after planned repairs. This production with a capacity of 350 thousand tons of LDPE per year was closed for repairs in December 2019.

According to MRC's ScanPlast, in March the estimated consumption of LDPE in Russia increased to 62,100 tonnes against 36,580 tonnes a year earlier. Russian manufacturers have reduced their export supplies of LDPE due to more attractive prices on the domestic market. In the first three months of this year, the estimated consumption of LDPE in the country amounted to about 149,910 tonnes, which is 10% more than a year earlier.

Borealis, headquartered in Vienna, is a leading manufacturer of polyolefins, basic chemicals and fertilizers. Borealis is the majority shareholder in Saudi state-owned International Petroleum Investment (IPIC), which also owns North American ethylene and polyethylene producer NOVA Chemicals and Middle Eastern petrochemical company Borouge.
MRC

1. Saudi Aramco beats quarterly profit forecast with 30% rise in Q1 2021 earnings

MOSCOW (MRC) -- State-run oil producer Saudi Aramco beat analysts' forecasts with a 30% rise in first-quarter net profit, helped by strong oil prices, reported Reuters. Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices, which are up by about a third this year, as fuel demand recovers from the pandemic and as a global surplus of crude shrinks. "Given the positive signs for energy demand in 2021, there are more reasons to be optimistic that better days are coming," Amin Nasser, chief executive of the world's top oil exporter, said in a statement. "And while some headwinds still remain, we are well-positioned to meet the world's growing energy needs as economies start to recover," he said.


MRC

MOSCOW (MRC) -- Lotte Chemical Titan Holding Bhd (LCT) has reported its highest-ever quarterly profit after tax at RM441.28 million in the first quarter ended March 31, 2021 (1QFY21), versus a loss after tax of RM169.5 million a year earlier as the petrochemical products manufacturer’s revenue rose due to the increase in average product selling price and sales volume in tandem with the Covid-19 vaccine-driven global economic recovery, reported The Start with reference to a filing with Bursa Malaysia.

In filings with Bursa Malaysia today, Lotte Chemical Titan said 1QFY21 profit rose on higher average product selling price and lower feedstock costs and as plant utilisation rate increased.

Lotte Chemical Titan said 1QFY21 net profit rose to RM440 million from a net loss of RM170.06 million a year ago as revenue climbed to RM2.37 billion from RM1.46 billion.

"The group's profit before tax has improved by 376% from a loss before tax of RM205.8 million to profit before tax of RM567.1 million. This is mainly due to the improved margin spread resulting from higher average product selling price and lower feedstock costs. The gross profit margin has improved from (14%) to 23%,” the company said.

Lotte Chemical Titan's profit and revenue also rose in quarterly terms during 1QFY21. The firm said 1QFY21 revenue increased to RM2.37 billion from RM1.92 billion in 4QFY20.

Plant utilisation rate was higher at 88% in 1QFY21 compared with 85% in 4QFY20, according to the company.

As MRC informed earlier, Lotte Chemical Titan shut its No. 2 cracker in Malayisia in mid-January because of a technical glitch. This cracker is located in Pasir Gudang, Malaysia, and produces 522,000 tons/year of ethylene and 360,000 tons/year of propylene.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

Lotte Chemical Titan produces Malaysia's most comprehensive portfolio of olefins and polyolefins which contribute to the enhancement of everyday life. Lotte Chemical Titan's production site in Malaysia consists of eleven process facilities, two co-generation plants and three tank farms. They are located on 2 sites in Pasir Gudang and Tanjung Langsat in the state of Johor. In 2006, Lotte Chemical Titan acquired PT Lotte Chemical Titan Nusantara, Indonesia’s first and largest polyethylene plant in the country. This acquisition boosted the polyolefins capacity by approximately 50%, thus making the company one of the largest producers in South East Asia. Lotte Chemical Titan was acquired by Lotte Chemical Corp., forming part of the Lotte conglomerate of Korea, in 2010. The company thus became one of Lotte Chemical Corp.’s largest overseas subsidiaries.
MRC

MOSCOW (MRC) -- US-based styrenics producer Trinseo reported a first-quarter net income, up from a loss reported during the same time in 2020 because sales rose faster than costs, said the company.

The following shows the company's Q1 performance. Figures are in millions of dollars. Trinseo attributed the rise in revenue to higher volumes in all of its segments except for Feedstocks. Prices also rose, mostly because of Trinseo passing through higher costs for raw materials.

Income rose mainly because of higher margins, primarily in Trinseo's Base Plastics, Polystyrene and Feedstocks segment. In Feedstocks, March styrene margins reached their highest levels in more than 20 years.

Revenue for Latex Binders rose mainly because the company passed through higher costs in raw materials. Sales volumes rose for textile; board and specialty paper; and coatings, adhesives, sealants and elastomers (CASE). These were partially offset by declines in graphical paper.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) fell because lower margins more than offset higher volumes. Trinseo attributed the lower margins to a lag between product prices and sharply increasing styrene costs.

Synthetic Rubber sales rose mainly because of higher volumes, particularly for solution styrene butadiene rubber (SSBR). Volumes for SSBR rose because of Trinseo growth programmes and the continued recovery in demand for tyres. Revenue for Polystyrene rose because the company passed through higher costs for styrene. Volumes rose because of higher demand for appliances and consumer electronics.

It was reported before, Trinseo will build a full commercial scale polystyrene (PS) recycling plant in Tessenderlo, Belgium that is expected to be operation in 2023. The company will use depolymerisation which breaks down polymers into their precursors to chemically recycle the material. The recycled PS will have identical properties with virgin PS.

According to ICIS-MRC Price report, in Russia, Nizhnekamskneftekhim's PS prices remained unchanged in May. Prices of Nizhnekamskneftekhim's GPPS were in the range of roubles (Rb) 192,000-203,000/tonne, CPT Moscow, including VAT, whereas HIPS prices were at Rb196,000-207,000/tonne CPT Moscow, including VAT. At the same time, May prices of Penoplex's material fell by Rb15,000/tonne to Rb204,000-206,000/tonne CPT Moscow, including VAT.

Trinseo is a global materials company and manufacturer of plastics, latex and rubber. Trinseo's technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Formerly known as Styron, Trinseo completed its renaming process in 1Q 2015. Trinseo had approximately USD3.0 billion in net sales in 2020, with 17 manufacturing sites around the world, and approximately 2,600 employees.
MRC

MOSCOW (MRC) -- Shell Catalysts & Technologies and Arbios Biotech, a joint venture between Licella and Canfor, have formed a new global alliance aimed at utilizing SC&T’s upgrading technology capability in the pursuit of a low-carbon intensity, circular-economy focused biorefinery, according to Hydrocarbonprocessing.

Arbios Biotech was formed to commercialise Licella’s Cat-HTR platform, a globally leading hydrothermal liquefaction (HTL) technology, for various forms of wood and post-consumer biomass around the world, particularly in North America, South America and Europe. The Cat-HTR uses near or at supercritical water to create high-quality biocrude, a renewable and sustainable bio oil for the circular economy.

This alliance between Arbios Biotech and SC&T anticipates that Shell upgrader units will work in concert with commercial Cat-HTR plants, strategically located near aggregated post-consumer biomass feedstock sources. By linking SC&T upgrader units with Cat-HTR plants, Arbios Biotech would have the capability to upgrade biocrude to finished products in one continuous, efficient process.

As MRC reported before, US refiner HollyFrontier Corp said last Tuesday it would purchase a 149,000-bpd refinery in Washington from Shell as part of the European company"s strategy to reduce its global refinery footprint.

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

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers increased.

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