SRF Industries commissions BOPP film line in Thailand

MOSCOW (MRC) -- Industrial and specialty intermediates manufacturer SRF Ltd. (New Delhi, India) said that a major part of the BOPP film line in Thailand was commissioned and capitalized on 19 July 2021, reported Business Standard.

On 4 November 2019, the board of SRF approved setting-up BOPP (Biaxially Oriented PolyPropylene Films) film line in Thailand by the company's wholly owned subsidiary, SRF Industries (Thailand).

The cost of commissioning the project is approximately USD50.51 million.

As MRC wrote before, in August, 2020, SRF Ltd. announced the establishment of a biaxially oriented polyethylene terephthalate (BOPET) plant at Jaszfenyszaru, Hungary. 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. Earlier in August, 2020, the company announced 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).

SRF is a chemical based multi-business conglomerate engaged in the manufacturing of industrial and specialty intermediates. The company reported 96% jump in consolidated net profit to Rs 381 crore on 40% jump in revenue from operations to Rs 2,608 crore in Q4 FY21 over Q4 FY20.
MRC

MOSCOW (MRC) - The merger of assets of SIBUR and TAIF will make it possible to enter the five largest companies in the world, said Dmitry Konov, Chairman of the Board of SIBUR Holding PJSC in an interview with Realnoe Vremya.

On April 23, the companies signed their intentions to conduct the deal. Shortly before that - on April 11 - the basic conditions were signed. And before that, for about half a year, TAIF and SIBUR worked in the mode of very frequent meetings and discussions of these basic conditions.

One of the key terms of the deal: implementation of TAIF investment projects. The adopted large-scale development plan of TAIF Group for the period 2015-2030, has 36 projects and is estimated at more than 2.2 trillion rubles, of which 1.5 trillion rubles fall within the perimeter of the transaction of the merged companies SIBUR and TAIF.

"The duty of SIBUR, as a member of the merged company, is to continue the projects, the implementation of which is already underway. We are clearly interested in the s of their implementation being completed and the production facilities being commissioned. Moreover, I think that implementation of these projects is one of the strong growth opportunities for the merged company ", D. Konov notes.

"The second part of SIBUR's responsibilities is to provide the missing financing for the implementation of investment projects of TAIF, which remains an independent legal entity within the framework of the transaction. As for investment projects that have not yet started, we also plan them. But since they need to start only after a few years, together we will check how much the market will change by that time, whether there are any raw material contracts, if raw materials are to be supplied by third parties, we will update the capital cost estimate, "he said.

It is necessary to discuss each of them in more detail with the leadership of TAIF, to make sure that they fully meet the criteria we jointly defined. And, if they are convinced of the feasibility and economic efficiency of the project, they will implement it. It is quite possible that given the fact that the merged company has more opportunities, they can be implemented in a shorter time frame.

SIBUR's interest is in joint efforts with TAIF to grow a petrochemical company of an international level and a global scale. Those products that will be produced at the jointly created facilities are a powerful tool for strengthening these positions. We are not yet discussing the expansion of the joint investment program.

For both of our companies, a fairly large synergy lies in improving efficiency. This is both a more efficient distribution of semi-products and raw material streams, and an optimal organization of production processes. For example, to provide the market with the necessary products.

There are a lot of such operational things that allow you to optimize processes. This applies to raw materials, and the distribution of semi-finished products, and the organization of the technological process, and production planning, and the organization of logistics in order to better provide customers with the necessary products. There are many synergies.

"There is also another synergy that is little talked about, but which is quite close to me. TAIF and I have different types of production sites. Nizhnekamsk site is quite closely integrated with oil refining. ZapSibNeftekhim is the entire Tobolsk cluster, which is more focused for light raw materials and is represented by larger installations. And there are products that we, as SIBUR, for example, can and would like to enter and start their production, but with much greater efficiency they can be produced at the TAIF site. that the production facilities have different raw materials and different infrastructure sites.The range of products that can be made on the basis of oil refining is wider than the potential range of chemistry based on gas processing. Such a correct, optimal distribution, including future projects, between a large set of production sites within the perimeter of one companies are also synergy. I am talking about the possibility of realizing more her effective projects in the right place and conditions for them. This is another of the important reasons why we are interested in TAIF's investment plan. "

Earlier it was reported that the Federal Antimonopoly Service (FAS) satisfied the petition of SIBUR, the largest petrochemical holding in Russia and Eastern Europe, to acquire 100% of the voting shares of TAIF holding.

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.
MRC

MOSCOW (MRC) -- McDermott International, Ltd announced it has been awarded an engineering and procurement contract for a spent caustic treatment solution on the Gas Chemical Complex (GCC) project from Heat Transfer Technologies DMCC (HTT), as per the company's press release.

The GCC project is owned by Baltic Chemical Plant LLC, a subsidiary of RusGazDobycha. It is the largest polyethylene (PE) integration project in the world and is located near Russia's shores in the Gulf of Finland.

"This award is a testament to our ability to leverage our suite of capabilities to provide integrated solutions throughout the lifecycle of a project," said Tareq Kawash, Senior Vice President, Europe, Middle East, Africa. "Our proven experience delivering world-class polyethylene projects make us the ideal partner to continue supporting the GCC project."

McDermott's scope includes license technology rights, basic design engineering package (BDEP), module detailed engineering design and full procurement of main equipment. The modularized solution for the spent caustic treatment solution will be an integral part of the GCC project and enable the project's annual production of up to 3 million tons of PE.

As MRC informed previously, McDermott International, Ltd has been also selected by LACC, LLC, a joint venture between Westlake Chemical Corporation and Lotte Chemical Corporation, to provide engineering, procurement and construction for a seventh heater addition to its LACC Ethane Cracker Facility in Westlake, La, USA. Schematic image for seventh heater addition to LACC Ethane Cracker Facility in Westlake, La.

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.

McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to commissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure—empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.

1. China June diesel exports more than double YOY amid record refinery output

MOSCOW (MRC) -- China's June diesel exports rebounded from May and more than doubled from the same period last year, as refiners shipped out more surplus barrels amid record refinery production, according to Hydrocarbonprocessing. Diesel shipments last month reached 2.36 million tons, versus 1.68 million tons in May and 1.04 million tons in June 2020, data from the General Administration of Customs showed on Sunday. Chinese refineries processed at record rates in June as plants returned from maintenance and due to the start-up of a new crude unit at private mega refiner Zhejiang Petrochemical Corp in April.




MRC

MOSCOW (MRC) -- Nearly 150 workers have been evacuated or are due for evacuation from Shell's Shearwater project in the North Sea since a COVID-19 outbreak emerged at the end of June, the company said July 20, as the industry called for an exemption from self-isolation rules for offshore workers, reported S&P Global.

So far, 26 people at the Shearwater oil and gas hub have tested positive for COVID-19, with another 122 categorized as having been "close contacts" of those infected, Shell told S&P Global.

Most have already been flown to shore, with a small number isolating at the facility prior to returning to shore, Shell said, adding that the spread of infection was slowing, with only five cases detected in the last seven days of the outbreak.

Shearwater is the focus of concerns that rising UK infection rates could spread to the offshore oil and gas sector, which normally provides 1 million b/d of oil including the Brent and Forties benchmark grades, and meets about half the country's gas needs.

Shearwater is currently shut down for summer maintenance and for work on the redevelopment project, which is central to Shell's realignment of its North Sea strategy. The project is intended to redirect gas flows from a cluster of North Sea fields, some of them newly developed and operated by other companies, to St Fergus in Scotland and on to petrochemical facilities, rather than being sent ashore at Bacton, eastern England.

The project had already suffered delays due to the pandemic and last year's price crash, having originally been scheduled to come on stream in 2020.

As MRC informed before, Royal Dutch Shell plans to reduce its refining and chemicals portfolio by more than half, it said in July 2020 without giving a precise timeframe. The move is part of the Anglo-Dutch company's plan to shrink its oil and gas business and expand its renewables and power division to reduce greenhouse gas emissions sharply by 2050.

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.

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