LyondellBasell announces quarterly dividend

MOSCOW (MRC) -- LyondellBasell Industries N.V. (LBI) has announced that it has declared a dividend of USD1.13 per share, as per the company's press release.

The dividend is to be paid December 6, 2021 to shareholders of record November 29, 2021, with an ex-dividend date of November 26, 2021.

As MRC reported before, LyondellBasell Industries expects to sell its Houston refinery in the “coming quarter or two,” said Chief Executive Bob Patel during a Friday conference call (30 October, 2021) with Wall Street analysts. The chemical maker said on Sept. 8 it was considering strategic options for the refinery, located on the Houston Ship Channel. LyondellBasell tried to sell the refinery in 2016 but was stymied by unit fires and multiple unit shutdowns before it took the plant off the market in a dispute over price.

We remind that LBI's three US subsidiaries have agreed to make upgrades and perform compliance measures estimated to cost USD50 million to resolve allegations they violated the Clean Air Act and state air pollution control laws at six petrochemical manufacturing facilities located in Channelview, Corpus Christi, and LaPorte, Texas, and Clinton, Iowa, according to the Department of Justice and the US Environmental Protection Agency's (EPA) statement.

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.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges, like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world"s largest producer of polymer compounds and the largest licensor of polyolefin technologies. In 2020, LyondellBasell was named to Fortune Magazine"s list of the "World"s Most Admired Companies" for the third consecutive year.
MRC

MOSCOW (MRC) -- Advent International is to acquire Netherlands-based chemicals distributor Caldic and merge the firm with portfolio company Grupo Transmerquim, a distribution firm active in Latin America, said the company.

With annual revenues of around EUR1bn in 2020, Caldic distributes specialty and life sciences chemicals in Europe, northern America and the Asia Pacific region, while Grupo Transmerquin – acquired by Advent in 2014 – has a presence in every country in Latin America, according to Advent. Caldic was formerly owned by Goldman Sachs Asset Management.

"As with all our investments, we pursue a long-term growth approach and intend to support Caldic throughout its next phase of growth,” said Advent chemicals head Ronald Ayles. “We see great prospects in the combination with GTM, nearly doubling the size of the New Caldic from the start."

The deal is expected to close in the first half of 2021. The company declined to disclose transaction details.

As per MRC, Advent has agreed to sell German coating resins maker Allnex to Thailand’s PTT Global Chemical (PTTGC) for around EUR4 billion (USD4.75 billion). Allnex, whose products are used in the industrial metal, automotive and packaging industries, has annual revenue of EUR2 billion and employs 4,000 employees worldwide. The deal values Allnex at 12.2 times its annual core earnings.

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 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.
MRC

MOSCOW (MRC) -- EXERGY, a leading provider of new-generation organic rankine cycle power plants, has been awarded - through its parent company Nanjing TICA Thermal Technology - a new contract for the development of a 5.8 MWe waste heat recovery project in China. The final customer is Jiangyin Xingjia New Material Co., a company engaged in the chemical industry, manufacturing purified terephthalic acid (PTA), polyester fiber, polyester film, synthetic resin, according to Hydrocarbonprocessing.

EXERGY’s contract includes the engineering and supply of two ORC units, 2.9 MWe each, that will be part of the new customer’s investment in a greenfield polyethylene terephthalate (PET) production facility located in Jiangyin, in the Jiangsu Province.

The waste heat recovery system will exploit the exhausted low-pressure steam, generated from the PET manufacturing process, to feed an efficient ORC cycle utilizing the radial outflow turbine technology and a non-flammable refrigerant as working fluid. The project will be completed by the end of 2022 and once in operation it will produce a total of 5.8 MW of clean electricity and help save the emission of approximately 17,000 tons of CO2 and the consumption of 8,500 tpy.

We remind that, as MRC reported before, on 21 January 2021, Fujian Baihong Petrochemical started up its new PTA line at Jinjiang, China. The new line with the capacity of2.5 million mt/year of PTA was running at half of its capacity after the start-up.

We also remind that Hengli Petrochemical (Dalian) Co. Ltd. is expected to lead the global planned and announced PTA capacity additions during the period 2019 to 2023, contributing around 22% of the global growth by 2023. Hengli Petrochemical (Dalian) Co. Ltd. is expected to add a capacity of 5.00 million tonnes per annum (mtpa) from two planned projects by 2023.

PTA is used to produce PET, which is used in the manufacturing of plastic bottles, films, packaging containers, in the textile and food industries.

According to MRC's ScanPlast report, the estimated PET consumption in Russia increased to 56,960 tonnes in September 2021, up by 10% year on year. Russia's overall PET consumption reached 592,560 tonnes in the nine months of 2021, up by 12% year on year.
MRC

MOSCOW (MRC) -- Several market factors such as energy and transportation costs along with challenges in the availability and costs of raw materials have significantly increased Axens’ manufacturing costs, said the company.

In regards to these events, price increases, for some of Axens' Catalysts and Adsorbents, is necessary to maintain the level of quality, responsiveness and support that their customers expect. This increase is effective immediately.

Axens’ Sales Representatives remain available for any questions or concerns regarding this topic.

As per MRC, Sumitomo Chemical has successfully conducted the first waste-based polyolefin production at its laboratory in Japan earlier this year, by use of the ethylene produced by Axens ethanol-to-ethylene technology Atol. This process value chain is complemented with the upfront “Waste to Ethanol” technology by Sekisui Chemical.

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 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.

Axens is a group providing a complete range of solutions for the conversion of oil and biomass to cleaner fuels, the production and purification of major petrochemical intermediates, the chemical recycling of plastics and all natural gas treatment and conversion options. The offer includes technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services.
MRC

MOSCOW (MRC) -- Lummus Technology, through its Green Circle subsidiary, announced that it has finalized a Letter of Intent (LOI) with Phigenesis, a UK-based company established to deliver ISCC+ certified renewable chemical feedstock for use in existing petrochemical plants to manufacture virgin grade plastics, suitable for all grades of application, according to Hydrocarbonprocessing.

Under the agreement, Phigenesis will deploy the Lummus New Hope Plastics Pyrolyisis Technology for a new chemical recycling facility with a capacity of 150,000 tpy. This will be the first license of the proven chemical recycling technology in Europe, and at this scale, the first project will significantly increase the current European chemical recycling capacity.

This agreement accelerates Phigenesis’ delivery of European projects, with the first site to be sized at 150,000 tpy, using proven operating technology. Based on the Lummus New Hope Plastics Pyrolysis process, the new facility will allow for a significant reduction in the carbon emissions compared to plastics waste incineration and virgin polymers production, and will help in the fight against climate change by a direct displacement of oil-derived feedstocks with recycled content.

The technology is part of a partnership formed in 2020 between New Hope Energy and Lummus, combining Lummus’ ability to license, scale-up and further develop process technology and New Hope Energy’s operational experience and waste conversion technology.

Phigenesis has plans for developing five similar sized projects in Europe, including feedstock supply, product sales and delivery of engineering. Phigenesis’ approach to each project prioritizes the use of renewable energies and low emission technologies to ensure a major contribution to net zero is achieved.

As MRC informed previously, earlier this month, Lummus Technology announced an award for a C4 acetylenes selective hydrogenation unit (AHU) from Korea Petrochemical Ind. Co. Ltd. (KPIC). The unit will be part of an expansion to KPIC’s Onsan Chemical Plant in Ulsan, Republic of Korea.

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.

Lummus Technology is the global leader in developing process technologies that make modern life possible and focus on a more sustainable, low carbon future. Lummus is a master licensor of clean energy, petrochemical, refining, gas processing and renewable technologies, and a supplier of catalysts, proprietary equipment, digitalization and related lifecycle services to customers worldwide.
MRC