Exxon Mobil increases earnings by 1% in Q1, 2013

MOSCOW (MRC) -- Exxon Mobil's first quarter 2013 earnings were USD9.5 billion, up 1% from the first quarter of 2012, reported the company in its press release.

Capital and exploration expenditures for the first quarter were USD11.8 billion, including USD3.1 billion for the acquisition of Celtic Exploration Ltd.

The corporation distributed USD7.6 billion to shareholders in the first quarter through dividends and share purchases to reduce shares outstanding.

Upstream earnings were USD7,037 million in the first quarter of 2013, down USD765 million from the first quarter of 2012. Downstream earnings were USD1,545 million, down USD41 million from the first quarter of 2012.

Chemical earnings of USD1,137 million were USD436 million higher than the first quarter of 2012. Higher margins, mainly commodities, increased earnings by USD320 million. All other items, including gains on asset sales, increased earnings by USD120 million. First quarter prime product sales of 5,910 kt (thousands of metric tons) were 427 kt lower than last year's first quarter due mainly to the Japan restructuring.

Corporate and financing expenses were USD219 million for the first quarter of 2013, down USD420 million from the first quarter of 2012, reflecting favorable tax impacts.

As MRC wrote earlier, in early 2012, ExxonMobil started operations at one of the world's largest ethylene steam crackers, the centerpiece of the company's multi-billion dollar expansion project at its Singapore petrochemical complex. The expansion adds 2.6 million tpy of new finished product capacity. It includes two new polyethylene (PE) plants, a polypropylene (PP) plant, a metallocene elastomers unit, an oxo-alcohol unit and an aromatics expansion, all of which are completed and beginning operation.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3 percent of the world's oil and about 2 percent of the world's energy.
MRC

MOSCOW (MRC) -- Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by OJSC Gazpromneft Moscow Refinery to provide front-end engineering design (FEED) and design documentation in accordance with Russian norms, for a major investment, termed the Combined Oil Refinery Unit (CORU) Project, at the Moscow Refinery, said Yourpetrochemicalnews.

The value of the award was not disclosed and will be included in Foster Wheeler’s first-quarter 2013 bookings.

The CORU project is part of the implementation of Gazpromneft’s OJSC Moscow Refinery Revamping and Upgrading Program, under which the refinery will be expanded up to 2020 to process an additional six million tons of crude oil per year and produce transportation fuels to Euro-V standards.

The CORU facilities are planned to include crude distillation and vacuum distillation units (CDU & VDU), a continuous catalytic reforming unit with naphtha hydrotreatment and hydrogen recovery by pressure swing adsorption, a diesel hydrotreater including a dewaxing section, a gas plant with a liquefied petroleum gases sweetening unit and common utilities. The FEED activities are expected to be completed in the fourth quarter of 2013 while the submission of design documentation is scheduled for the first quarter of 2014.

Foster Wheeler was previously awarded the process design package for the facilities’ crude and vacuum distillation units and the gas plant.

"The CORU Project is the most important investment for our Moscow Refinery. Timely completion and plant start-up are vital for our company, but completion of a strong FEED is a very important first step in the realization of this key project," said Anatoli Moiceevich Cherner, Deputy Chairman of the Board, Gazpromneft.

As MRC reported earlier, Lanxess had awarded a subsidiary of Foster Wheeler's Global Engineering and Construction Group an engineering, procurement and construction management (EPCm) contract for a new ethylene propylene diene monomer (EPDM) rubber plant to be built in Jiangsu Province, China. Besides, Foster Wheeler was awarded a contract by Shell Global Solutions to develop the basic engineering package for a world-scale mono-ethylene glycol (MEG) facility at Ras Laffan, Qatar.
MRC

MOSCOW (MRC) -- Fushun Petrochemical (Liaoning, China) is likely to take its polyethylene (PE) units off-stream for maintenance turnaround, said Apic-online.

A source in China informed that the units are planned to be taken off-stream on May 15, 2013. They are likely to stay shut for around one month.

As MRC informed earlier, a subsidiary of PetroChina - Fushun Petrochemical - in the second half of this year, started production of basic petrochemical products at its new plant in Fushun, Liaoning Province, China. The design capacity of the petrochemical complex is 300,000 tpa of polypropylene (PP), 350,000 tpa of high density polyethylene (HDPE) and 450,000 tpa of linear low density polyethylene (LLDPE).

PetroChina Company Limited is a Chinese oil company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. It is China's biggest oil producer and the most profitable company in Asia.

MRC

MOSCOW (MRC) - Russia's imports of suspension polyvinylchloride (SPVC) in April 2013 decreased by 8% from March to about 53,600 tonnes. The main decrease in the supplies occured on US resin, according to MRC DataScope.

Despite the low seasonal demand for SPVC in the beginning of the year, its imports in March hit a record of 58,000 tonnes. But in April SPVC imports were reduced by 8% compared with the March to 53,600. The imports from China was still at a high level, while the deliveries of US SPVC declined significantly because of the increase in export prices of SPVC in February - March.

Thus, in April 2013, imports of SPVC from US amounted to 19,000 tonnes, down 25% from March. The SPVC deliveries were cut from all North American producers, the only exception made OxyVinyls's resin.

Import of Chinese acetylene PVC in April, on the contrary, increased slightly and reached 28,800 tonnes, while in March it was 28,200 tonnes. The supplies of SPVC from Xinjiang Zhongtai in April rose to 20,600 tonnes (from 11,700 tonnes in March), while imports of resin from Xinjiang Tianye fell from 16,500 tonnes in March to 8,200 tonnes in April.

In April, a small increase in imports of SPVC was seen from European and South Korean producers - to 5,800 tonnes, compared to the March 4,700 tonnes.

In general, over the four months of this year, the total imports of SPVC to Russia made 170,000 tonnes, up 44% year on year.


MRC

MOSCOW (MRC) -- Ufaorgsintez (part of "Bashneft"), one of the largest Russian petrochemical companies, has stopped production of polypropylene (PP) for maintenance, according to MRC analysts.

On Sunday, 12 May, the company shut its PP production for a scheduled turnaround. The outage is going to last two weeks. The annual PP capacity of the plant is 100,000 tonnes.

As reported, at night, on 26 April, Ufaorgsintez stopped the production of high-density polyethylene (LDPE) and polypropylene. Maintenance work lasted for 2 days.

A planned shutdown of the plant's LDPE production is scheduled for September 2013.

Ufaorgsintez (part of "Bashneft") specializes in the production of petrochemical products. The plant produces basic
polymers and synthetic rubber. Thus, the company produces a wide range of products, including phenol, acetone, chemical rubber, low-density polyethylene (LDPE), polypropylene (PP), etc. Besides, the plant manufactures finished goods of its products - plastic bags, boxes made of polyethylene, film, etc. In terms of production volumes, the company is one of the largest producers in the country (40% - phenol, 13% - polyethylene, 20% -polypropylene).
MRC