NKNK plans to launch an olefin complex in 2023

NKNK plans to launch an olefin complex in 2023

MOSCOW (MRC) -- Nizhnekamskneftekhim's EP-600 olefin complex will be commissioned in 2023, Angi reports.

The new plant is planned to process 1.8 million tons of straight-run gasoline per year. This is largely an import-substituting project, as thanks to the plant, the country will increase its share in the ethylene market, as well as propylene, benzene and butadiene. The capacity of the new production will be 600 thousand tons. At the moment, the work is completed by 34%.

The construction site of Nizhnekamskneftekhim was visited by President of Tatarstan Rustam Minnikhanov. Head of Rosprirodnadzor Svetlana Radionova and Chairman of the Board of PJSC SIBUR Holding Dmitry Konov also took part in the inspection of the plant under construction.

As noted earlier, SIBUR decided to change the configuration of the output of the Ethylene-600 complex, which is being built at Nizhnekamskneftekhim. 100,000 tonnes of EPS will be added to the planned 250,000 tonnes of EPS.

PJSC "Nizhnekamskneftekhim" (NKNK) is one of the largest Russian producers of petrochemical products. The production complex of the company includes ten plants of the main production and ten departments (railway transport, main ethylene pipelines, etc.). NKNK produces more than 120 types of chemical products, including synthetic rubber, polyethylene, polypropylene, polystyrene, and surfactants. Nizhnekamskneftekhim is part of TAIF Group. SIBUR merged the petrochemical business with the Tatarstan TAIF Group in October 2021.
MRC

Marat Falyakhov was appointed as Production Director of Nizhnekamskneftekhim

Marat Falyakhov was appointed as Production Director of Nizhnekamskneftekhim

MOSCOW (MRC) -- Marat Faliakhov has been appointed Production Director of Nizhnekamskneftekhim, according to the company's corporate newspaper.

The report notes that the change was made "as part of the rotation program for SIBUR's management personnel." Previously, the post of production director was held by Oleg Nesterov, he retired. Faliakhov has been working at SIBUR since 2007, until February he held the position of General Director of BIAXPLEN (produces biaxially oriented films - BOPP).

"In his new position, Marat Falyakhov will focus on the technological development of the enterprise, the development of programs to improve operational efficiency and development projects," the information says.

Earlier it was reported that Nizhnekamskneftekhim held an extraordinary meeting of shareholders of Nizhnekamskneftekhim PJSC on December 27, 2021, at which the shareholders elected members of the Board of Directors in a new composition. According to the decision of the Board of Directors, Mikhail Karisalov was elected Chairman of the Board of Directors of Nizhnekamskneftekhim PJSC, Airat Safin - Deputy Chairman of the Board of Directors of Nizhnekamskneftekhim PJSC.

According to the ScanPlast review by Market Report, PP shipment to the Russian market in January-November last year amounted to 1,363.850,000 tonnes, which is 25% more than the previous year. Supplies of propylene homopolymer (PP-homo) and propylene block copolymer (PP-block) increased. The supply of cast propylene stat-copolymer (PP-random) has significantly decreased.

PJSC "Nizhnekamskneftekhim" (NKNK) is one of the largest Russian producers of petrochemical products. The production complex of the company includes ten plants of the main production and ten departments (railway transport, main ethylene pipelines, etc.). NKNK produces more than 120 types of chemical products, including synthetic rubber, polyethylene, polypropylene, polystyrene, and surfactants. Nizhnekamskneftekhim is part of TAIF Group. SIBUR merged the petrochemical business with the Tatarstan TAIF Group in October 2021.
MRC

SIBUR runs a survey to identify material topics for Report

SIBUR runs a survey to identify material topics for Report

MOSCOW (MRC) -- SIBUR, the largest petrochemical complex in Russia and Eastern Europe, is polling stakeholders to identify material topics for SIBUR Holding’s 2021 Integrated Report, said the company.

This report will present the results of its core business and our business methods while also providing insights into corporate governance, social and environmental practices.

The expectations of our stakeholders largely shape of sustainability priorities. Committed to transparency and openness, we seek to factor in the needs and requests of the public in both planning and reporting on sustainable development. The survey will be open until 11 February 2022.

As per MRC, SIBUR and Technip Energies have entered into an agreement on cooperation in the production technology of the Hexen-1 comonomer used in the production of linear polyethylene (LDPE) and low-pressure polyethylene (HDPE). The HEXSIB technology is a proprietary development of NIOST specialists, one of the main research centers of SIBUR.

It was previously reported that in December 2020, SIBUR launched new raffia grades of polypropylene (PP), PP H043FF/3 and PP H063FF/3, which increase equipment productivity and processing stability. These grades are designed for high-speed production of flat film thread, which is used in the manufacture of fabrics and flexible packaging: bags, big bags, waterproofing underlays, and twine.

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.) .
MRC

Chevron posts lower Q4 results on weaker-than-expected performance of its upstream and downstream segments

Chevron posts lower Q4 results on weaker-than-expected performance of its upstream and downstream segments

MOSCOW (MRC) -- Chevron Corporation, the world's petrochemical major, reported adjusted fourth-quarter earnings per share of USD2.56, missing the Zacks Consensus Estimate of USD3.11 on weaker-than-expected performance from its both segments, as per the company's press release.

Precisely, income from the Upstream and the Downstream units totaled USD5.2 billion and USD760 million, respectively, below their Zacks Consensus Estimate of USD5.3 billion and USD1 billion.

Keeping the bottom-line disappointment aside, Chevron recorded USD9.5 billion in cash flow from operations compared to just USD2.3 billion a year ago. The soaring cash flow could be attributed to strong price realizations in the upstream business. Importantly, Chevron’s free cash flow for the quarter was a record USD6.9 billion. Chevron's cash flow for the full-year 2021 was USD29.2 billion, up 175.5% from 2020. Further, Chevron paid USD10.2 billion in dividends and bought back USD1.4 billion worth of its shares.

As MRC reported earlier, Chevron Phillips Chemical (CP Chem), a joint venture of Phillips 66 and Chevron, will make a final investment decision on a new cracker in far southeast Texas in 2022, followed by an FID in 2023 on an USD8 billion joint venture petrochemical complex along the US Gulf Coast in 2023, said Phillips 66 CEO Greg Garland in early August, 2021.

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 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.

Headquartered in San Ramon, California, Chevron Corporation is the the second-largest integrated energy company in the United States and among the largest corporations in the world. Chevron is involved in upstream activities including exploration and production, downstream activities including refining, marketing and transportation, and advanced energy technology. Chevron is also invested in power generation and gasification processes.
MRC

SABIC achieves strong performance in Q4 2021

SABIC achieves strong performance in Q4 2021

MOSCOW (MRC) -- Saudi petrochemical major SABIC more than doubled its fourth-quarter 2021 net profit on strong sales volume and higher product prices, said the company.

Profitability was higher despite impairment and restructuring provisions in certain capital assets and increased financial charges, SABIC said. "Our financial performance was strong throughout the year 2021, supported by favorable market conditions," SABIC vice chairman and CEO Yousef Abdullah Al-Benyan said.

The company’s fourth-quarter earnings before interest, tax, depreciation and amortization (EBITDA) surged 95% year on year to SR13.05bn. "Those results were driven by our operational performance and higher prices for most of our key products," Al-Benyan said. SABIC is 70%-owned by Saudi Aramco, the world’s biggest crude exporter.

As per MRC, SABIC started up its new polypropylene (PP) compounding line in Genk, Belgium. The new line is an addition to the company’s existing production capacity for Sabic PP compounds at the Genk site, and will use raw materials from SABIC PP plants at Gelsenkirchen, Germany, and Geleen, The Netherlands.

As per MRC, SABIC Innovative Plastics, a subsidiary of the largest Saudi petrochemical company - Sabic, on 27 September closed production at its polycarbonate (PC) plant in Mount Vernon (Mount Vernon, Indiana, USA) for planned preventive measures. Maintenance at this enterprise with a capacity of 245,000 tonnes of PC per year continued until 11 October.

SABIC is a diversified company manufacturing chemicals, industrial polymers, fertilizers and metals. It is the largest state-owned company in Saudi Arabia. SABIC is currently the world's second largest ethylene glycol producer, the third largest polyethylene producer, and the fourth largest polypropylene producer. Sabic cut its 2015 net profit by 7% to SR23.43 billion (Saudi reais), equivalent to USD6.24 billion, amid lower average selling prices and increased sales.
MRC