SIBUR acquires a 26.3% stake in Cherepovets Azot

(SIBUR) -- SIBUR has reached an agreement for the acquisition of a 26.3% stake in the company Cherepovets "Azot" from a group of investors. The acquisition is aimed at improving the current capitalization of SIBUR business with respect to the production of mineral fertilizers. The company's strategy to phase out the non-core lines of the business through their sale or merger with other producers of nitrogen fertilizer has not been changed. The deal is expected to be concluded following the approval from the appropriate regulatory authorities.

MRC

(BP) -- BP announced that it has agreed with Rosneft to extend the deadline for completing the share swap agreement (previously announced on 14 January) to 16 May 2011. The agreement between the two companies followed the 8 April decision of the arbitral tribunal to allow them to discuss extension of the deadline. This means that the share swap agreement will now not terminate on 14 April 2011.

The share swap agreement, between BP and Rosneft, together with the related Arctic Opportunity, were originally announced on 14 January 2011. Both the share swap agreement and the Arctic Opportunity remain subject to an interim injunction.

BP intends to continue with the arbitration process to obtain a final award on all outstanding issues, including whether or not the interim injunction should continue.

BP remains fully committed to TNK-BP as its primary business vehicle in Russia and fully supports its strategy and investment programme, which should ensure its success for decades to come. BP also owns a 1.3% interest in Rosneft and has been exploring offshore Sakhalin for over a decade and engaging in Arctic studies.

MRC

MOSCOW (MRC) -- Imports supplies of polypropylene (PP) to the Russian market remain at the previous level. In March overall imports didn't exceed 18 KT, according to MRC DataScope. Import volumes are limited by low demand for polypropylene.

Overall imports of the polymer in the Russian market in March grew only by 600 t and made 17.7 KT. Over Q I import supplies of PP to Russia made 49 KT.
No serious changes happened in the structure of March imports. Insignificant reduction of homopolymer propylene imports from Turkmenistan was partially compensated with grown supplies form Ukraine. Overall import supplies of homopolymer propylene made 10.6 KT.
Insignificant growth of import of impact copolymer propylene was caused by increased demand of Russian companies for IM, while supplies of pipe types were reduced.

MRC

(ICIS) -- European spot prices of methyl tertiary butyl ether (MTBE) surged to a record high this week, on the back of robust global oil futures, tight supply and firm demand, triggering a price rally in Asia, market players said on Thursday. Domestic prices in China also soared to an all-time peak but are lagging behind the rest of Asia, leaving Chinese buyers scrambling for spot material, they said.

In Europe, MTBE prices soared to USD 1.438-1.460/tonne (EUR 992-1.007/tonne) FOB (free on board) Amsterdam, Rotterdam, this week, eclipsing the previous high of USD 1.385/tonne in mid-July 2008, according to ICIS data.

Prices of the octane booster was assessed significantly stronger as USD 1.190-1.210/tonne FOB Singapore in the week ended 8 April, the highest levels since 11 July 2008, when MTBE prices closed at USD 1.210-1215/tonne FOB Singapore, the data showed.

MRC

(Plastemart) -- Petrobras will use natural gas from the pre-salt fields as fuel and feedstock in the new petrochemical complex in Rio de Janeiro (Comperj), which is being built in Itaborai. The first refinery is expected to go into operation in late 2013. The petrochemical plant should start operating between late 2016 and early 2017 in collaboration with Braskem.

According to Petrobras' Downstream Director, Paulo Roberto Costa, the gas will be taken, probably by sub-sea pipelines (about 250 to 300 km long) to Comperj. Another possibility to bring the gas to Comperj is the use of gas vessels to liquefy natural gas in the sea and transport it to a regasification terminal on land.

About 15 mln cubic meters of natural gas daily from pre-salt as a feedstock in Comperj petrochemical plant, where will be transformed into products such as propylene, butadiene,benzene, polyethylene and polypropylene.

MRC