BASF CEO Dr Martin Brudermuller received the ICIS CEO of the Year Award

BASF CEO Dr Martin Brudermuller received the ICIS CEO of the Year Award

MOSCOW (MRC) -- BASF CEO Dr Martin Brudermuller has received the ICIS CEO of the Year Award at the virtual ICIS Power Players Awards event, said the company.

The ICIS CEO of the Year Award is unique in that the winner is selected by his/her peers – the senior executives of the ICIS Top 40 Power Players listing – a global ranking of the leaders making the greatest positive impact on their companies and the chemicals industry, and published in ICIS Chemical Business.

"The 2021 ICIS Power Players Awards brings together the best and brightest from across the globe to celebrate leadership shaping our industry at such an important time, and recognise individual achievement at the highest level," said Dean Curtis, CEO of ICIS.

"I accept this award with humbleness as it comes from my colleagues in the chemical industry who I highly appreciate. This makes the award very special for me, and it belongs entirely to the BASF team. We create chemistry for a sustainable future, and this truly is a team effort," said BASF CEO Martin Brudermuller at the event.

"I am proud that the BASF team is committed to reduce our carbon emissions quite fast and drastically. We can master these challenges as companies, but also as the chemical industry as a whole. And as leaders, we have the responsibility to make bold decisions and set the right path to a more sustainable future for all of us," he added.

ICIS also announced the winners of two new awards – Saori Dubourg, member of the board of executive directors at BASF, for the ICIS Sustainability Leader Award, and Conrad Keijzer, CEO of Clariant, for the ICIS Emerging Leader Award.

As per MRC, BASF has launched IrgaCycle a new range of additive solutions to address the imminent needs in plastics recycling. The plastics industry is seeking ways to incorporate higher content of recycled polymeric material in all major applications to meet sustainability goals, while facing growing consumer concerns and stricter regulatory requirements to reduce plastic waste. Hereby a major challenge is to mitigate quality deficiencies of polymers arising from thermal and mechanical stress during the recycling process.

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 1,176,860 tonnes in the first half of 2021, up by 5% year on year. Shipments of exclusively low density polyethylene (LDPE) decreased. At the same time, PP shipments to the Russian market were 727,160 tonnes in the first six months of 2021, up by 31% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased. Supply of statistical copolymers of propylene (PP random copolymers) subsided.

BASF's business structure comprises six main segments: chemicals, materials, industrial solutions, surface technologies, nutrition and care, agricultural solutions. At the end of 2020, BASF had sales of EUR59 bn. BASF shares are traded on the Frankfurt Stock Exchange (BAS), on the St. Petersburg Stock Exchange in Russia, and as an American Depositary Receipt (BASFY) in the United States. BASF has been operating in Russia since 1874, is represented in the rating of the 500 largest companies in the country in terms of revenue.

MRC

Vertex Energy plans to acquire Shell Alabama refinery in Q1 2022

Vertex Energy plans to acquire Shell Alabama refinery in Q1 2022

MOSCOW (MRC) -- Vertex Energy’s planned acquisition of Shell’s refinery in Mobile, Alabama is on schedule to close in Q1 2022, the US-based specialty refiner said in an update.

The deal was announced in May. Vertex added that closing remains subject to regulatory clearance, financing and other conditions.

The refinery can process 90,000 bbl/day of crude oil and other refined products, and it produces low-sulphur vacuum gas oil/heavy olefin feedstock and benzene.

As per MRC, Royal Dutch Shell is selling its 90,000 barrel-per-day (bpd) Mobile, Alabama refinery to specialty refiner Vertex Energy for USD75 million plus the cost of hydrocarbon inventory. Vertex plans to produce petroleum fuel and renewable diesel at the refinery following the close of the transaction in the fourth quarter of 2021, pending approvals.

Vertex will also buy co-related logistics infrastructure and hydrocarbon inventory, including more than 3 million barrels of crude oil and product storage. The inventory is currently valued between USD65 and USD85 million. Shell and Vertex will have crude supply and product offtake agreements, according to the companies.

Vertex plans to produce approximately 10,000 bpd of renewable diesel and renewable byproducts at the plant by the end of 2022, increasing to 14,000 bpd by 2023. The company said it will spend USD85 million to convert Mobile's hydrocracking unit.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

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

U.S. oil refiners looking to replace crude lost after a storm hit the U.S. Gulf of Mexico

U.S. oil refiners looking to replace crude lost after a storm hit the U.S. Gulf of Mexico

MOSCOW (MRC) -- U.S. oil refiners hunting to replace crude lost after a storm hit the U.S. Gulf of Mexico last month have been turning to Iraqi and Canadian oil, while Asian buyers have been pursuing Middle Eastern and Russian grades, analysts and traders said, as per Hydrocarbonprocessing.

Royal Dutch Shell, the largest producer in the U.S. Gulf of Mexico, this week said damage from Hurricane Ida to an offshore transfer facility will limit Mars sour crude supplies into early next year. The grade is used heavily by U.S. Gulf refiners and companies in South Korea and China, the top two export destinations for Mars.

The United States generally exports more than 3 million barrels per day (bpd) of oil, most from the U.S. Gulf Coast. With overall fuel demand rebounding to pre-pandemic levels, refiners will need to make up for the Mars shut-ins. The loss of up to 250,000 bpd has some U.S. refiners seeking replacements for fourth-quarter delivery, especially Iraq's Basra crude, traders said. Others received supplies of sour crude from U.S. storehouses.

Basra crude has come to the fore during past disruptions. In 2019, when U.S. sanctions on Venezuela cut off heavy crude grades to Gulf refiners, Iraq rapidly boosted cargoes. Canadian heavy-oil suppliers also benefited.

ExxonMobil and Placid Refining Co have received oil from the U.S. Strategic Petroleum Reserve (SPR), addressing immediate needs for sour crude.

Refiner Marathon Petroleum has bought Basra for October loading, one trader said. Suezmax tanker Jag Leena is provisionally booked to load 1 million barrels of Basra Light crude on Oct. 10 for the United States, data on Refinitiv Eikon showed, although it was not immediately clear which company chartered the ship.

U.S. refiners able to process and blend heavier crudes also have shown interest in Canadian and Latin American grades, traders added. Marathon declined to comment.

As per MRC, Saudi Basic Industries (SABIC), the world's fourth-biggest petrochemicals firm, said its joint venture project with ExxonMobil in the US Gulf Coast has started commissioning activities and preparing for an initial startup. The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 MMtpy, which will feed two polyethylene (PE) units and a monoethylene glycol (MEG) unit, it said in a statement.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.
MRC

AOC raises October prices of all its productis for Americas

MOSCOW (MRC) -- AOC Resins (Collierville, Tennessee) has announced an increase in its October prices for the Americas, as per the company's press release.

Thus, the price increase is effective October 4, 2021, in the amount of USD0.10/lb for all products sold in the USA, Canada, Mexico and Latin America.

This action is due to continuing and significant escalation of costs for key raw material ingredients and freight. AOC’s global purchasing resources continue to workwith their network of suppliers to manage costs, maintain supply and meet customers’ needs.

As MRC informed earlier, in October 2020, AOC, Kaprain and Spolchemie announced they had reached agreement on AOC acquiring the Unsaturated Polyester Resin (UPR) manufacturing operations located at the Spolchemie site in Usti nad Labem (Czech Republic). This footprint extension will allow AOC to further improve service and logistics to its customers in Central/ Eastern Europe as well as in Germany, and will make new products (e.g. based on recycled PET) available for customers around Europe.

According to MRC's ScanPlast report, the estimated PET consumption in Russia reached 59,050 tonnes in July, 2021, up by 9% year on year. Russia's overall PET consumption totalled 470,250 tonnes in the first seven months of 2021, up by 12% year on year.

AOC is the leading global supplier of specialty resins and materials utilized in a wide range of applications including Coatings and Protective Barriers, Colorants and Visual Effects, Adhesives and Specialties, and Composite resins. With strong capabilities worldwide in manufacturing and science, the company works closely with customers to deliver unrivaled quality, service, and reliability for today and create innovative solutions for tomorrow.
MRC

Sasol to cut carbon emissions by 30% to 2030

Sasol to cut carbon emissions by 30% to 2030

MOSCOW (MRC) -- Sasol Ltd, South Africa's major fuel and petrochemical producer, has raised its emissions reduction targets for 2030 to 30% from 10% previously in a bid to make the company a net zero carbon emitter by 2050, reported Reuters with reference to its CEO's statement last week.

The new targets come as the company faces pressure from investors and environmentalists to take decisive steps at its heavily polluting plants, often described as amongst the continent's worst greenhouse gas emitters (GHG).

Fleetwood Grobler, CEO of Sasol said in an interview with Reuters that the company intends to cut down its GHG emissions from 63.9 million tonnes to about 44.73 million tonnes by 2030, up from 57.5 million tonnes as per its previous target.

"This works on three levers - increase of natural gas as a transition fuel, renewable power source and energy efficiency processes," he said.

The world's top manufacturer of motor fuel from coal consumes around 40 million tonnes of coal annually from its own mines and exports up to 4 million tonnes each year.

The petrochemicals major intends to gradually replace coal, with increased natural gas consumption which will be used as a transition fuel. However, its coal consumption will, at a limited level, would still continue till 2040, he said.

As MRC wrote previously, Sasol's world-scale US ethane cracker with the capacity of 1.5 mln tonnes per year reached beneficial operation on 27 August 2019. Sasol's new cracker, the heart of Lake Charles Chemicals Project (LCCP), is the third and most significant of the seven LCCP facilities to come online and will provide feedstock to the company's six new derivative units at its Lake Charles multi-asset site.

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 1,396,960 tonnes in January-July 2021, up by 7% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 841,990 tonnes in the first seven months of 2021, up by 29% year on year. Supply of propylene homopolymers (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of statistical copolymers of propylene (PP random copolymers) subsided.

Sasol is an international integrated chemicals and energy company that leverages technologies and the expertise of our 31 270 people working in 32 countries. The company develops and commercialises technologies, and builds and operates world-scale facilities to produce a range of high-value product stream, including liquid fuels, petrochemicals and low-carbon electricity.
MRC