Clariant and Air Liquide present MegaZonE

MOSCOW (MRC) -- Clariant’s long-term partnership with Air Liquide Engineering & Construction has resulted in another major breakthrough in methanol synthesis: the MegaZonE technology, said the company.

Based on Clariant’s MegaMax® catalyst series, this innovative method uses several layers of catalysts with different activity levels to optimize heat management and overall catalyst performance in the methanol synthesis reactor.

Furthermore, the properties of each catalyst layer are tailored to the specific conditions along the reaction pathway, which results in a significantly longer catalyst lifetime (by up to 2 yrs) and an increased cumulative methanol production (up to 15%), thus potentially leading to monetary benefits of up to several MM US dollars. With this performance outlook, MegaZonE was successfully applied to two world-scale methanol plants in Asia this yr, showing already excellent and stable performance.

Stefan Heuser, Senior Vice President and General Manager at Clariant Catalysts, commented, “MegaZonE is a game-changer for both current and future methanol producers as it allows more compact and resilient designs, ultimately resulting in increased profits for our customers. It is another example of the close cooperation between our innovative catalyst R&D team and our longstanding engineering partner Air Liquide Engineering and Construction."

MegaZonE enables increased efficiency of the methanol synthesis loop, thus, the loop can be operated at milder conditions. Catalysts with moderate activity are loaded in hotter zones of the converter to prevent hotspots, while activity-enhanced catalysts are placed further down the reaction pathway to intensify reaction rates in the lower portion of the converter. On the one hand, less thermal stress on catalysts will lead to longer catalyst lifetimes. On the other hand, high activity in the bottom part of the reactor will increase reaction rates and reduce by-product formation by up to 10%. MegaZonE technology is a drop-in solution and enables tailored refill options for process optimizations of existing units. It also allows a more compact and resilient design for new plants.

Moreover, the possibility to use different feed sources, such as stranded gas, unused syngas, or CO2- rich gases, can drastically reduce the CO2 footprint of methanol producers, making MegaZonE also a highly sustainable solution.

As per MRC, Clariant says that its board has appointed Conrad Keijzer as the company’s new CEO, effective 1 January 2021. Hariolf Kottmann, Clariant’s executive chairman ad interim, will return to his position as chairman of the board, once Keijzer assumes responsibility.

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 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in the first nine months of 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.
MRC

MOSCOW (MRC) -- Reliance Industries (RIL) has exited all its business in the upstream oil and gas shale play that was based out of the United States, according to Business Standard.

A company statement said that Reliance Eagleford Upstream Holding, a wholly-owned step-down subsidiary of Reliance Industries, announced the signing of agreements with Ensign Operating III, a Delaware limited liability company, to divest its interest in certain upstream assets in the Eagleford shale play of Texas, USA.

"With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America," RIL said.

Reliance said that a Purchase and Sale Agreement has been signed between REUHLP and Ensign on November 5, 2021 for this sale. The sale is at a consideration higher than current carrying value of the assets.

RIL officials refused to disclose the price at which this transaction took place. The company is now left with nil interest in US-shale assets. A part of the Eagleford asset was sold in March 2018 to Sundance Energy for about USD100 million.

Earlier this year, RIL had divested all of its interest in certain upstream assets in the Marcellus shale play of southwestern Pennsylvania. Those assets were sold to Northern Oil and Gas, (NOG), a Delaware corporation. The deal was for a consideration of USD250 million cash and warrants that give entitlement to purchase 3.25 million common shares of NOG at an exercise price of USD14.00 per common share in next seven years. A Purchase and Sale Agreement was signed between Reliance Marcellus and NOG on February 3, 2021 for this sale.

As MRC reported earlier, Indian refining giant Reliance Industries is doubling its polyethylene terephthalate (PET) recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. The move is part of RIL's commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain.

According to MRC's ScanPlast report, August estimated PET consumption in Russia reached 65,350 tonnes, up by 19% year on year. Russia's overall estimated PET consumption increased in the first eight months of 2021 by 12% year on year to 535,610 tonnes.

Reliance Industries is one of the world's largest producers of polymers. Thus, the company produces among others polypropylene, polyethylene and polyvinyl chloride.
MRC

MOSCOW (MRC) -- After a strong third quarter, Evonik is making its earnings forecast for the current year more precise, as per the company's press release.

The company now expects adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) of about EUR2.4 billion. This is the upper end of the previous range of EUR2.3 billion to EUR2.4 billion that Evonik had expected mid-year. Sales will also reach the upper end of the forecast range - EUR14.5 billion. Previously, Evonik had expected EUR13 billion to EUR14.5 billion.

"We continued to grow strongly in the third quarter," said Christian Kullmann, chairman of the board of management. "All four chemical divisions benefited from increased demand. We were able to completely compensate for higher raw material, energy and logistics costs by raising our prices."

Adjusted EBITDA rose 24 percent to EUR645 million in the July to September period compared with the same three months the previous year. Compared with the second quarter, earnings remained stable, despite one-time costs of around €30 million from higher bonus provisions, maintenance shutdowns and loss of sales due to impaired supply chains and a lack of raw material availability.

Sales at the company gained 33% to EUR3.87 billion in the third quarter compared with the previous year. The increase reflects continued positive demand dynamics across all divisions. Adjusted net income increased 45% to EUR269 million with adjusted earnings per share rising from EUR0.40 to EUR0.58.

Improved business performance led to a 68 percent increase in free cash flow in the quarter to EUR524 million. As a result, free cash flow reached a record level of EUR937 million in the first nine months.

"For the year as a whole, we now expect free cash flow of around €1 billion," said Ute Wolf, chief financial officer. "We are proud that we were able to generate even more cash than previously thought. Now we’re expecting a full-year cash conversion rate above last year's good figure, which was about 40%."

Specialty Additives: The division's sales rose 20% to EUR934 million in the third quarter. Products for the construction and coatings industry as well as for renewable energies achieved significant sales growth in all regions because of a considerable increase in demand. Additives for polyurethane foams for the automotive sector as well as durable goods such as mattresses and refrigerators saw higher demand with sales rising significantly. The increase in sales at the division was partly limited by interruptions in global supply chains and the associated lack of availability of individual raw materials. Adjusted EBITDA increased by 5% to EUR224 million.

Performance Materials: The division's sales rose by 77% to EUR784 million in the third quarter. Sales of C4 products increased significantly with higher demand and strongly improved selling prices. The superabsorbent business continues to be affected by a difficult market environment. Adjusted EBITDA rose from EUR28 million to EUR97 million in the quarter.

As MRC informed earlier, in February, 2020, Dow and Evonik entered into an exclusive technology partnership. Together, they plan to bring a unique method for directly synthesizing propylene glycol (PG) from propylene and hydrogen peroxide to market maturity.

Propylene is the main feedstock for the production of polypropylene (PP).

According to MRC's ScanPlast report, PP shipments to the Russian market were 1,138,510 tonnes in January-September 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding statistical copolymers of propylene (PP random copolymers) decreased significantly.

Evonik is one of the world leaders in specialty chemicals. The focus on more specialty businesses, customer-oriented innovative prowess and a trustful and performance-oriented corporate culture form the heart of Evonik’s corporate strategy. They are the lever for profitable growth and a sustained increase in the value of the company. Evonik benefits specifically from its customer proximity and leading market positions. Evonik is active in over 100 countries around the world with more than 33,000 employees.
MRC

MOSCOW (MRC) -- China will take action to reduce waste, promote renewables and unconventional fuel, and reform its electricity network as part of its plan to bring carbon emissions to a peak before 2030, said Hydrocarbonprocessing.

The new action plan repeats China's targets to bring wind and solar capacity to 1,200 gigawatts by the end of the decade, to build more hydropower and nuclear plants and further develop natural gas resources. The document was published just five days before talks get under way in Glasgow to strengthen the global fight against climate change. China is set to announce its updated "nationally determined contributions" before the meeting begins.

Climate watchers have been looking closely for signs that China, the world's biggest source of climate-warming greenhouse gases, might make more ambitious pledges ahead of the Glasgow talks. Tuesday's document offered few advances.

As the country grapples with power shortages and ramps up coal production in order to guarantee winter supplies, the State Council said China would accelerate efforts to build a new and more flexible power system that allows new energy sources to be steadily increased. As well as new solar and wind farms, new hydroelectric dams would also be built on the upper reaches of the Yangtze, Mekong and Yellow rivers, and China will also make more use of new-generation nuclear technology, including small-scale offshore reactors, it said.

China will also take action to ensure that energy-intensive industrial sectors such as steel, non-ferrous metals and building materials improve energy efficiency and recycling rates, and make full use of new technologies to bring their own emissions to a peak. Last week, China's state planner said at least 30% of production capacity in those energy-intensive sectors would meet tighter energy efficiency standards by 2025.

Additionally, primary oil refining capacity in China will be capped at 1 B tons per yr by 2025, the document outlined, while petroleum and chemical companies will be encouraged to adjust their feedstock structure by replacing coal with electricity and natural gas. Meanwhile, China plans to "reasonably" manage oil and gas consumption by "gradually adjusting gasoline use" and advocate biofuel and sustainable jet fuel to replace conventional fuel products.

Some Chinese oil refiners and analysts reckon that diesel consumption in the country has already peaked, and expect gasoline demand to peak in 2025-2028. China's plan promotes natural gas as well as non-conventional oil and gas, including coalbed methane, even though they are fossil fuels and sources of carbon dioxide. China is currently investing USD131 B in new gas infrastructure, think tank Global Energy Monitor said on Tuesday, adding that its reliance on gas would do little to reduce temperature rises.

As per MRC, oil refiners are ramping up output to meet a synchronized uptick in demand across Asia, Europe and the United States, but plant maintenance and high natural gas prices will constrain supply in the fourth quarter. This comes as profits for producing ground transportation fuels such as diesel and gasoline have rebounded globally for the first time since the start of the pandemic, as countries gradually emerge from COVID-19 movement restrictions.

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 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in the first nine months of 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
MRC

1. Global oil refiners increase output as margins recover to pre-pandemic levels

MOSCOW (MRC) -- Oil refiners are ramping up output to meet a synchronized uptick in demand across Asia, Europe and the United States, but plant maintenance and high natural gas prices will constrain supply in the fourth quarter, reported Reuters with reference to company officials and analysts' statements. This comes as profits for producing ground transportation fuels such as diesel and gasoline have rebounded globally for the first time since the start of the pandemic, as countries gradually emerge from COVID-19 movement restrictions. A coal shortage across Europe and Asia, which has forced some power generators to burn kerosene, diesel or fuel oil and stock up ahead of the peak winter heating demand, is also supporting global oil prices.



MRC