bp took its first major step into electrification in the US with acquisition of AMPLY Power

bp took its first major step into electrification in the US with acquisition of AMPLY Power

MOSCOW (MRC) -- bp took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate trucks, transit and school buses, vans and light-duty vehicles, according to Hydrocarbonprocessing.

This investment is aligned with bp’s plan to scale-up next generation mobility solutions, providing the fastest, most reliable and convenient network of?charging and digital solutions?for customers, including individual drivers and fleet operators.

By 2030, bp aims to nearly double earnings1 from its global convenience and mobility businesses - increasing from around $5 B in 2019 - while delivering returns in the range of 15-20%. During this time, bp plans to grow its global network of EV charging points from around 11,000 today to more than 70,000.

Richard Bartlett, senior vice president, future mobility and solutions, bp: “bp is aiming to speed up electrification in the fast-growing fleet segment, which is key to lowering emissions from the transport sector - the largest contributor to greenhouse gas emissions in the US. As we continue to invest in new forms of infrastructure and technology to serve our global fleet customers, AMPLY Power provides an ideal opportunity to build our EV business in the US. They bring an experienced team, a rapidly expanding customer base and user-friendly digital platform.”

Founded in 2018, AMPLY Power aims to make EV adoption easy for fleets. The California-based firm has two offers for fleet operators:

Fully financed Charging-as-a-Service (CaaS) – AMPLY Power provides solutions for the charging of customers’ fleets, including the procurement and installation of hardware, software and operational and maintenance costs. Customers sign 5-to-10 year agreements for these services and AMPLY Power charges customers a flat usage rate ($/kWh or $ per mile driven).

Under the terms of the agreement, AMPLY Power will continue to operate independently as part of bp’s global portfolio of businesses.

Financial details of the agreement are not being disclosed.

As MRC wrote previously, in October, 2021, BP announced plans for a USD269 million investment in three projects at its Cherry Point Refinery in Washington state, aimed at improving the refinery's efficiency, reducing its carbon dioxide (CO2) emissions and increasing its renewable diesel production capability. The investment is aligned with bp's aims to be net zero across its operations by 2050 or sooner and to reduce the carbon intensity of the products it sells by 50% by 2050 or sooner.

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 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.

BP is one of the world's largest oil and gas companies, serving millions of customers every day in around 80 countries, and employing around 85,000 people. BP's business segments are Upstream (oil and gas exploration & production), and Downstream (refining & marketing). Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world"s hydrocarbon basins and strong market positions in key economies.
MRC

A number of personnel changes took place in the management of SIBUR and TAIF

A number of personnel changes took place in the management of SIBUR and TAIF

MOSCOW (MRC) - A number of personnel changes in the management of SIBUR and TAIF have been announced, Business-Online reports.

So, Rustem Sulteev, Guzelia Safina, Vladimir Presnyakov, left the boards of directors and management of TAIF JSC, which had gone to SIBUR, and moved to TAIF MC, in which TAIF-NK and other non-core assets remained under the leadership of Albert Shigabutdinov. In turn, three Tatarstan top managers were promoted to the structures of SIBUR, and some move to Moscow for a permanent place of work and residence.

The processes of reshuffling the top management of SIBUR and TAIF went on during October - November - some news had already leaked into the public space. In general, the logic of the reshuffle is as follows: SIBUR chose TAIF representatives for the boards of parent companies and appointed its representatives to the boards of directors of Tatarstan enterprises. Some changes, but not final ones, have already taken place in the composition of the management of TAIF JSC, Kazanorgsintez, Nizhnekamskneftekhim at the level of deputy general directors. General directors - Ruslan Shigabutdinov, Farid Minigulov, Ayrat Safin and the head of TGC-16 Eduard Galeev - remained in their positions.

Thus, the composition of the Management Board of PJSC SIBUR Holding was expanded from 7 to 9 people. Alexey Kozlov and Alexander Petrov dropped out of the team, five new people entered, four of whom are representatives of the top management of SIBUR and General Director of TAIF JSC Ruslan Shigabutdinov. The composition of the board of SIBUR grew from 16 to 17 people, it included two Tatarstanis - Deputy General Director - Commercial Director of Nizhnekamskneftekhim Timur Shigabutdinov and Deputy Director of TAIF for Energy and Information Technologies Ruslan Gizzatullin.

As SIBUR reported a week earlier, Timur Shigabutdinov headed the new structure of the company - the Directorate of Synthetic Rubbers.

In October, SIBUR closed the deal to acquire 100% of TAIF JSC, which includes Nizhnekamskneftekhim, Kazanorgsintez and TGK-16.

SIBUR manufactures and sells petrochemical products on the Russian and international markets in two business segments: olefins and polyolefins (polypropylene, polyethylene, BOPP, etc.), as well as plastics, elastomers and intermediate products (synthetic rubbers, expanded polystyrene, PET, etc.).

PSC "TAIF" was founded in 1995, is the parent company of the group of the same name, which includes enterprises structured in four business areas: oil and gas processing, chemistry and petrochemistry (energy); investment and financial services; construction; telecommunications and complex services, including trade.
MRC

Saudi Aramco enters domestic lubricants market with launch of ORIZON

Saudi Aramco enters domestic lubricants market with launch of ORIZON

MOSCOW (MRC) -- Saudi Aramco has announced its entry into Saudi Arabia’s domestic lubricants market, offering consumers a new line of lubricant products under the ORIZON brand, according to Hydrocarbonprocessing.

Aramco timed the ORIZON launch to coincide with the inaugural Saudi Arabian Formula 1 Grand Prix in Jeddah, Saudi Arabia. Aramco is a global sponsor of Formula 1.

Aramco has introduced the ORIZON product line in more than 20 cities including Riyadh, Jeddah and Dammam with more locations planned. ORIZON products include synthetic and semi-synthetic lubricants for gasoline engines and heavy-duty diesel engines, as well as driveline products, greases and brake fluids.

The company has also expanded the brand to include ORIZONPRO, which is a high-performance line for the industrial sector.

Aramco Vice President of Fuels, Yasser M. Mufti, said: “Entering the lubricants market is an important milestone for the company, as we continue to expand our presence throughout the downstream value chain.”

As MRC informed before, in June 2020, Aramco finalized its USD69 billion acquisition of a 70% stake in Saudi Basic Industries Corp., the Middle East's biggest petrochemical maker. SABIC reported more than a fivefold year-on-year increase in its Q3 net profit to USD1.49 billion thanks to higher average sales prices.

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 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.

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world"s most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
MRC

Crude oil prices drop as investors assess impact of Omicron coronavirus variant

Crude oil prices drop as investors assess impact of Omicron coronavirus variant

MOSCOW (MRC) -- Oil prices edged lower in choppy trade on Wednesday, taking a breather after gains earlier this week, as investors assessed the impact of the Omicron coronavirus variant on the global economy, reported Reuters.

The market had a muted reaction to US weekly inventory figures, which showed a smaller-than-anticipated decline in crude stocks and another bump up in overall production, giving credence to expectations that supply will increase in coming months.

Brent crude futures were down 15 cents, or 0.2%, to USD75.29 a barrel at 10:52 a.m. EDT (1552 GMT). US West Texas Intermediate crude was at USD71.94 a barrel, down 16 cents or 0.3%.

Brent crude prices have rebounded by over 9% since Dec. 1 on signs Omicron has had only a limited impact on oil demand, after a 16% drop since Nov. 25.

"Around two-thirds of the previous price slide (has) been corrected," Commerzbank said in a note.

"There has been no noticeable slowing effect on oil demand as yet. Even aviation, the sector that should have been hit first, has seen only a marginal decrease in seating capacity."

The emergence of the Omicron variant combined with the U.S. decision to release inventories from its strategic reserve to knock the market back on expectations that supply would outweigh demand by the early months of 2022.

Ultimately, the Organization of the Petroleum Exporting Countries and its allies including Russia, known as OPEC+, chose to maintain its schedule of boosting supply by 400,000 barrels per day every month - despite fears that the new coronavirus variant would sap demand.

US output, meanwhile, rose to 11.7 million barrels per day in the most recent week, though weekly output figures are volatile. The US Energy Department also said gasoline and distillate inventories rose more than anticipated, while crude stocks fell by a mere 240,000 barrels, less than expected.

As MRC informed before, US commercial crude stocks fell 3.48 million barrels to 413.96 million barrels in the week ended Sept. 17, to more than 8% below the five-year average, Energy Information Administration data showed. Stocks were last lower Oct. 5, 2018.

We remind that in late August, 2021, US crude stocks dropped sharply while petroleum products supplied by refiners hit an all-time record despite the rise in coronavirus cases nationwide, the Energy Information Administration said. Crude inventories fell by 7.2 million barrels in the week to Aug. 27 to 425.4 million barrels, compared with analysts' expectations in a Reuters poll for a 3.1 million-barrel drop. Product supplied by refineries, a measure of demand, rose to 22.8 million barrels per day in the most recent week. That's a one-week record, and signals strength in consumption for diesel, gasoline and other fuels by consumers and exporters.

We also remind that US crude oil production is expected to fall by 160,000 barrels per day (bpd) in 2021 to 11.12 million bpd, EIA said in a monthly report earlier this year, a smaller decline than its previous forecast for a drop of 210,000 bpd.
MRC

ADNOC joins forces with GE to develop decarbonization roadmap to reduce carbon emissions

ADNOC joins forces with GE to develop decarbonization roadmap to reduce carbon emissions

MOSCOW (MRC) -- Abu Dhabi National Oil Company (ADNOC) and GE Gas Power have announced a joint cooperation initiative to develop a decarbonization roadmap that includes reducing carbon emissions from gas turbines used to power ADNOC’s downstream and industry operations, including at the world-scale Ruwais Industrial Complex, in Abu Dhabi in the United Arab Emirates (UAE), according to Hydrocarbonprocessing.

This initiative further supports the UAE Net Zero by 2050 Strategic Initiative and strengthens ADNOC’s position as one of the world’s least carbon-intensive oil and gas producers. The announcement follows the recent clean power agreement between ADNOC and Emirates Water and Electricity Company (EWEC) and enhances ADNOC’s pathway to decarbonization while enabling sustainable future growth.

Ahmed Omar Abdulla, Senior Vice President, Refining & Petrochemical Asset Management, ADNOC said: “ADNOC’s initiative with GE reinforces our commitment to support the UAE’s goal to achieve net zero carbon emissions by 2050 and our ongoing commitment to decarbonizing our operations. This agreement is in line with our energy transition strategy and underscores our commitment to sound environmental stewardship while meeting the needs of the world’s growing energy demands. Working together with GE to develop sustainable solutions for power generation also furthers our ambitions to progress hydrogen as a future fuel and will leverage our industry-leading capabilities in carbon capture and storage.”

Under the terms of the initiative, ADNOC and GE will explore using hydrogen and hydrogenblended fuels for lower-carbon power generation; evaluating introducing ammonia as a fuel to power ADNOC’s GE gas turbines; integrating carbon capture solutions at ADNOC’s power generation facilities; and joint research and development (R&D) programs to develop innovative solutions to reduce carbon emissions from gas-based power generation.

The announcement is a continuation of ADNOC and GE’s cooperation to enhance the performance and sustainability of ADNOC’s operations. ADNOC and GE recently enhanced the efficiency and performance of ADNOC Refining’s General Utilities Plant (GUP) in Ruwais, with upgrades to installed GE gas turbines increasing power output while utilizing the same amount of fuel. Through this new initiative, GE helps bring its industry leading hydrogen experience to ADNOC. Globally, more than a hundred GE gas turbines have operated on fuels that contain hydrogen, accumulating over 8 MM operating hours.

The GUP provides electricity and water to the entire Ruwais Industrial Complex. ADNOC is also enhancing the performance and sustainability of the GUP with the development of a waste heat recovery facility. Upon completion of this facility in 2023, the innovation will increase the thermal efficiency of the site by nearly 30%.

As MRC reported earlier, in mid-November 2021, ADNOC signed of a strategic partnership with Borealis AG that confirms a USD6.2 B (AED22 B) investment agreement between the companies to build the fourth Borouge facility - Borouge 4 - at the polyolefin manufacturing complex in Ruwais, United Arab Emirates (UAE), which will produce 1.4 MM tons of polyethylene (PE) per year.

Expansion project includes construction of a 1.5 MM tons ethane cracker, two state-of-the-art Borstar PE plants and a cross-linked PE plant. Borouge 4 will meet growing customer demand across the Middle East, Africa and Asia with differentiated polyolefin solutions in energy, infrastructure, and advanced packaging.

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 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