BP to sell its wind power business in the USA

MOSCOW (MRC) -- Oil major BP PLC is seeking to sell its US. wind energy business as part of efforts to refocus on oil and gas and position the company for growth in the future, reported The Wall Street Journal.

BP has built one of the largest wind businesses in the USA. As such, any subsequent divestment will be the subject to attractive offers being received, according to BP's statement. The company didn't say how much it expected to get. A report in U.K. newspaper the Financial Times estimated the assets to be worth about USD1.5 billion.

In the last five years, BP has invested more than USD55 billion in US. energy development, almost USD15 billion more than its nearest competitor, and more than BP invests in any other country.

We remind that, as MRC informed previously, in october 2012, BP announced an agreement to sell its refinery in Texas City, Texas, and a portion of its retail and logistics network in the southeast US to Marathon Petroleum for USD2.5 billion. With this agreement, the total value of the divestments that BP has agreed since the beginning of 2010 made more than USD35 billion. BP expects this total to reach USD38 billion by the end of 2013.

BP is one of the world's leading international oil and gas companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items.
MRC

MOSCOW (MRC) -- Saudi Industrial Investment Group (SIIG) announced that it has resumed operations of its Jubail Chevron Phillips project after completing the required maintenance works on Apr 3, 2013, said Mubasher.

The company is currently working on increasing the production gradually till reaching the regular production capacity.

Chevron is the only large international energy company to have a continuous upstream presence in the Kingdom of Saudi Arabia for more than seven decades. Chevron Phillips Chemical Company LLC (CPChem) and its affiliates have interests in Saudi Chevron Phillips Company, Jubail Chevron Phillips Company, Saudi Polymers Company and Petrochemical Conversion Company. All four companies have facilities in Al-Jubail.

As MRC wrote earlier, Chevron Phillips Chemical mulls expansion of its normal alpha olefins (NAO) capacity by, at least, 20% at its Cedar Bayou Chemical Complex in Baytown, Texas.
MRC

MOSCOW (MRC) - Russian producers and traders have left polystyrene prices for April at the March level, according to ICS-MRC Price Report.

This week market participants were focused on the price formation of Russian PS for April. As per MRC analysts, the price of Russian polystyrene for the first half of April was left at the rollover from March.

Nizhnekamskneftekhim's price remains at Rb75,000-79,000/tonne for general purpose polystyrene (GPPS) and Rb77,000-82,000/tonne, CPT Moscow, for high impact polystyrene (HIPS).

Gazprom neftekhim Salavat's price of polystyrene also unchanged in April. Traders keep prices at Rb68,500-72,000/tonne for GPPS and Rb75,000-78,000/tonne for a natural HIPS.

At the same time, according to a trader, the price for natural HIPS can be reduced in the second half of April. One of the traders said: "The price of GPPS is unlikely to change in the Russian market, as the current price is at a fairly low level. "

At the same time, the European contract price of styrene monomer in April decreased by EUR64/tonne to EUR1,411/tonne, FOB ARA (Amsterdam-Rotterdam-Antwerp). MRC analysts think that this can increase pressure on the PS makers in Europe, making them reduce the price offers. In its turn, the decline in European material price may affect the prices of Russian polystyrene in April and May. European material in 2012 made about 20% of total consumption of the GPPS.

MRC

MOSCOW (MRC) -- Prices of DOP plasticizer for April grew in the Russian market on the back of increased feedstock costs. The oncoming turnaround of Gazprom neftekhim Salavat and a seasonal increase in demand give grounds to think that DOP prices will grow further, as per MRC analysts.

The cost of the main feedstock of dioctyl phthalate plasticizer (DOP) - diethylenglycol (DEG) and phthalic anhydride has grown in April, which resulted in increase of Russian DOP prices on average by Rb3,000/tonne to Rb70,000-72,000/tonne, including VAT, with delivery.

The exception made DOP plasticizer by Gazprom neftekhim Salavat production, which was left at the rollover from March: Rb65,000-66,000/tonne, FCA Salavat, including VAT.

The company plans to stop its capacities for DOP production on the turnaround from 20, April.

Some market participants said that the stoppage of Gazprom neftekhim Salavat's facilities and a seasonal increase in demand in the near future could result in increase of DOP prices.

MRC

MOSCOW (MRC) -- Clariant International AG, Swiss specialty chemicals group,has acquired the nano-silver ink technology platform developed under the trademark Bayink from Bayer Group, Germany, reported the company in its statement.

The transaction comprises all patents, know-how and materials related to Bayer’s nano-silver ink technology. Clariant will continue to work closely with existing customers and cooperation partners to further develop nano-silver inks and its applications.

"The acquisition will strengthen our portfolio of new materials for the electronics and energy markets", said Christian Kohlpaintner, Member of the Executive Committee.

Nano silver inks are printable on various substrates like polymers, glas, or silicon. They are applicable in a wide variety of emerging applications for printed electronics, e.g., printed circuit boards, radio frequency identification devices (RFID) or photovoltaic panels. Nano-silver inks provide excellent conductivity by spending fewer amounts of precious metal using advanced printing technologies such as ink-jet or aerosol printing.

As MRC wrote earlier, in March 2013, Clariant announced that it had extended its colour and special effects' testing services for packaging sector customers in North America. The acquisition by the company of a new production-scale stretch blow-moulding machine and other available services at its ColorWorks Design & Technology Center in West Chicago, Illinois, now make it possible for developers of PET (polyethylene terephthalate) plastic containers to evaluate Clariant colour and special-effect masterbatches in full-size, three-dimensional bottles instead of flat injection-molded chips.

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