Celanese announces quarterly dividend of USD0.68 per share in mid-July

MOSCOW (MRC) -- Celanese Corporatio,, a global chemical and specialty materials company, has declared a quarterly cash dividend of USD0.68 per share on its common stock, payable August 9, 2021, as per the company's press release.

The dividend is payable to stockholders of record as of July 26, 2021.

As MRC informed previously, earlier this year, Celanese Corporation initiated a capital-efficient expansion of its vinyl acetate monomer (VAM) production unit at the company’s world-class chemical industrial park in Nanjing, China in a move to solidify its global VAM capabilities.

This expansion will support the continued growth of its global acetyls business and serve the needs of customers in the Asia region and globally, the company said in its statement.

According to MRC's DataScope report, April EVA imports to Russia rose by 35,63% year on year to 4,090 tonnes from 3,020 tonnes a year earlier, and overall imports of this grade of ethylene copolymer into the Russian Federation grew in January-April 2021 by 20,24% year on year to 14,990 tonnes (12,470 tonnes a year earlier).

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 2020 net sales of USD5.7 billion.
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MOSCOW (MRC) -- Iraq has picked China's state-run CNCEC to build an oil refinery at the port of Fao on the Gulf, reported Reuters with reference to the oil ministry's statement.

The refinery in Fao will have a 300,000 barrel-per-day capacity and will include a petrochemical plant, the ministry added in a statement.

As MRC informed earlier, in 2013, CNCEC won a tender for construction of a chemical complex on production of polyvinyl chloride (PVC) on the basis of Navoiazot in Uzbekistan. In line with the project, CNCEC was to construct capacities for 100,000 tonnes of PVC, 64,000 tonnnes of caustic soda and 300 tonnes of methanol a year. The project was to be implemented within 31 months.

According to MRC's ScanPlast report, Russia's overall production of unmixed PVC totalled 515,900 tonnes in the first half of 2021, up by 1% year on year. At the same time, two producers reduced their output.
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MOSCOW (MRC) -- China's crude oil imports fell 3% from January to June versus a year earlier, in the first first-half contraction since 2013, as an import quota shortage, refinery maintenance and rising global prices curbed buying, reported Reuters.

Imports totalled 40.14 million tonnes last month, data released by the General Administration of Customs showed on Tuesday, equivalent to 9.77 million barrels per day (bpd).

That compared with 9.65 million bpd in May and a record 12.9 million bpd in June 2020, when refiners snapped up cheap oil to supply China's quick recovery from the pandemic.

For the first half of 2021, imports into the world's top crude oil importer totalled 260.66 million tonnes, or about 10.51 million bpd, 3% lower than a year earlier.

As the impact of COVID-19 locked down most of the world, China was the only major oil consumer to increase imports in 2020, accounting for a record 19.8% share of global crude imports for the year, the BP Statistical Review of World Energy showed. That strong appetite helped crude prices to rebound sharply last year from their April slump, but slowing purchases by China going forward may start to weigh on prices.

Bumper purchases led by independent refineries, known as teapots, had bolstered imports in the first quarter of 2021, pushing inbound shipments 9.5% above the same period of 2020. Imports fell nearly 13% in the second quarter, however, versus the first three months as inventories climbed and refining margins were squeezed by steadily rising global oil prices and a flood of imports of blending fuels, such as light cycle oil that slipped into the diesel pool.

As MRC informed earlier, more crude oil was being refined in China's refineries in April 2020 than in US refineries for the first month on record, and this trend continued for all remaining months in 2020 except for July and August. Thus, China processed more crude oil than the United States not only because of the unique effects of COVID-19 pandemic-related restrictions in 2020, but also because of differences in the longer-term structural refining trends between the two countries.

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 953,400 tonnes in the first five months of 2021, which virtually corresponded to the same figure a year earlier. High denisty polyethylene (HDPE) shipments decreased. At the same time, PP shipments to the Russian market were 607,8900 tonnes in January-May 2021, up by 33% year on year. Shipments of homopolymer PP and PP block copolymers increased, whereas deliveries of PP random copolymers decreased.
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1. Crude oil futures steady in Asia amid softening demand due to resurgence of COVID-19 cases across the globe

MOSCOW (MRC) -- Crude oil futures were steady during mid-morning trade in Asia July 13, with market sentiment bogged down by a resurgence of COVID-19 cases across the globe that could slow economic recovery, while the OPEC+ alliance remained unable to reach a consensus on reducing production cuts for August and beyond, reported S&P Global. At 10:24 am Singapore time (0224 GMT), the ICE September Brent futures contract was up 16 cents/b (0.21%) from the previous close to USD75.32/b, while the NYMEX August light sweet crude contract was up 17 cents/b (0.23%) at USD74.27/b. "Oil looks like it is stuck between opposing forces -- on one hand, there is the slowing down of recovery, particularly in Asia, and on the other hand, there are expectations that OPEC+ will come up with a (production) deal to maintain prices," Jeffery Halley, senior market analyst at OANDA, told S&P Global Platts July 13.

MRC

MOSCOW (MRC) -- Neste and LyondellBasell has recently announced a long-term commercial agreement under which LyondellBasell will source Neste RE, a feedstock from Neste that has been produced from 100% renewable feedstock from bio-based sources, such as waste and residue oils and fats, as per Neste's press release.

This feedstock will be processed through the cracker at LyondellBasell’s Wesseling, Germany, plant into polymers and sold under the CirculenRenew brand name.

Through their collaboration, Neste and LyondellBasell are jointly contributing to the development of the European market for more sustainable polymers and chemicals solutions. By ensuring continuity with significant industrial-scale volumes of renewable polymers produced with renewable feedstock from bio-based sources, the companies wish to enable sustainability-focused brands to develop more sustainable products and offerings.

In April 2021, LyondellBasell launched the Circulen family of products. LyondellBasell’s CirculenRenew product line consist of polymers linked to renewable-based feedstocks, while polymers made from mechanically recycled materials are marketed under the brand name CirculenRecover and those linked to advanced (molecular) recycling are called CirculenRevive.

As MRC reported earlier, in late June 2021, the scheduled maintenance i.e. the major turnaround at Neste’s Porvoo refinery in Finland was successfully completed and production started at the refinery. The major turnaround is a significant investment to secure safety, availability and competitiveness of the refinery. The total investment of the Porvoo refinery major turnaround was approximately EUR630 million, of which approximately EUR 330 million was realized in the major turnaround in 2021. In 2020, only the most critical maintenance work was executed at the refinery as the corona pandemic delayed the turnaround by a year.

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 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

Neste (Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. The company is the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products.

LyondellBasell is one of the world's largest polypropylene producers, a leading supplier of polyethylene and catalysts, and a developer of polyethylene and polypropylene technologies. The company manufactures products at 58 production sites in 18 countries around the world. In addition, LyondellBasell is the developer of the Spheripol process, which is the basis for polypropylene production at Omsk Poliom and Nizhnekamskneftekhim.
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