Reliance Q1 gross refining margin down by 7.9% year on year

MOSCOW (MRC) -- Indian refining and petrochemical giant Reliance Industries Ltd. has reported a 7.9% year-on-year decline in its gross refining margin for the January-March quarter, to USD9.30/barrel, according to Apic-online.

However, the company showed an increase of 22.3% over the previous quarter, as demand bounced back and margins improved towards the end of the financial year, a senior company official said at a press conference in Mumbai.

Crude processing at its 1.24 million b/d Jamnagar complex on India's west coast for what is the fourth quarter of the financial year was 16.3 million mt, compared with 16.1 million mt in the corresponding period a year earlier, RIL said in a statement.

For the financial year ended March 2013, RIL reported a gross refining margin of USD8.10/b, down 12% over the previous year's USD9.20/b.

Reliance processed 68 million mt of crude for the financial year 2013-14, marginally lower than 68.5 million mt in the previous year.

RIL said the average utilization rate at its refineries was 110% for the full financial year, which runs from April through March. The refineries processed 68 million mt for the financial year 2013-14, marginally lower than 68.5 million mt in the previous year.

Revenues from the refining segment increased 8.4% on-year to USD60.4 billion in fiscal year 2013-14. Exports of refined products during the year rose 4.6% to USD41.1 billion, and in volume terms was 6.3% higher at 43.8 million mt.

RIL is India's largest private refiner. The Jamnagar complex houses two refineries, a new 580,000 b/d export-oriented refinery and an older 660,000 b/d plant.

As MRC wrote previously, in October 2012, Reliance Industries unveiled its plans to expand capacity at its refineries in the western state of Gujarat. Earlier, the company presented an USD18 billion investment plan for India over the next five years.

Reliance Industries is one of the world's largest producers of polymers. The company's polymer production in 2010-11 (polypropylene, polyethylene and polyvinyl chloride) made 4,094 kilo tonnes.
MRC

MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company, at Chinaplas 2014 is displaying its Zenite and Vectra family of halogen free liquid crystal polymers (LCPs) for compact camera modules (CCM) used in today's smartphones and tablets, reported the company on its site.

These LCPs are tailored to help CCM manufacturers improve their products and manufacturing processes so they can meet the growing demand for portable devices with high-end camera modules.

Device users are demanding ultra slim, high definition options that require CCM manufacturers to design components with a focus on multifunctional integration, better performance and low power consumption. As a result, CCM manufacturers are looking for ways to improve their products and manufacturing processes. In response, Celanese formulated Zenite LCP to deliver superior dimensional stability and less particle generation for improved productivity and higher yield of assembled CCM parts.

"Celanese worked closely with major global CCM manufacturers to develop this Zenite LCP technical breakthrough that provides electrostatic discharge properties," said Kevin Liao, Celanese Electrical & Electronics global market director. "This development reflects the combined strengths of Celanese with a customer focus to bring step-change technology to the electrical and electronics industry."

As MRC informed previously, Celanese Corporation has recently announced a range of detectable polymer technologies that can help original equipment manufacturers (OEMs) and suppliers ensure products contain components and parts that meet their material specifications. Engineered materials from Celanese are available with anti-counterfeiting technologies to help assist OEM and Tier suppliers in reducing the potential risk and loss of revenue from counterfeits in automotive parts, consumer products, medical devices, packaging and consumer electronics.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications.
MRC

MOSCOW (MRC) - Production of polyethylene (PE) in Russia decreased by 1% in the first quarter of this year. The decrease in PE production occurred for high density polyethylene (HDPE), according to MRC ScanPlast.

Russia's PE production was 132,600 tonnes in March, compared with 141,100 tonnes in February. Total PE production in Russia was about 430,800 tonnes in Q1 2014, compared with 434,000 tonnes in the same period a year earlier.

Russia's output of HDPE was significantly reduced, particularly in March, while the production of low density polyethylene (LDPE) grew. The structure of PE production in Russia in the first quarter of the current year was as follows.

Stavrolen shut ethylene production on 26 February because of the technical problems at its ethylene capacities. The company did not announce the date of the restart, but it is obvious that the production will be shut at least nine months, as it was in 2012.

Nizhnekamskneftekhim switched to the production of linear low density polyethylene (LLDPE) in March. As a result, Russia's production of HDPE fell to 61,600 tonnes in March, compared with 86,200 tonnes in February. Total HDPE production in Russia was 245,200 tonnes in Q1 2014, compared with 264,700 tonnes in the same period a year earlier.

March output of LDPE in Russia increased to 60,900 tonnes, compared with 55,000 tonnes in February. Total Russia's LDPE production was 175,500 tonnes in Q1 20014, up 4% from the same period a year earlier.

LLDPE production Russia remains weak. Nizhnekamskneftekhim produced about 10,000 tonnes of LLDPE over the incomplete March. Russia did not produce LLDPE in January and February, as it was in the same period in 2013.


MRC

MOSCOW (MRC) -- The output of main products from polymers in Russia rose by 2.4% over the first three months of 2014. Films accounted for the largest increase in production, reported MRC analysts.

After the disastrous January and February, a major increase in production of finished products from polymers was registered in March, up by 17.8% from February. The overall output of plastic products totalled 2.4% in the first quarter 2014. Films accounted for the largest increase in production, while negative figures were still registered in the construction sector.

According to the Federal State Statistics Service, March production of unreinforced and non-combined films rose to 90,400 tonnes (in January - 49,200 tonnes and 73,900 tonnes - in February). Thus, the output of these products in Russia reached 213,500 tonnes from January to March 2014, up by 14.9% year on year.

Last month's production of porous plates and sheets went up to 18,300 tonnes (in January - 14,800 tonnes and 16,200 tonnes - in February). The output of these products increased by 4.5 % over the stated period and totalled about 49,300 tonnes.

March production of large bottles, bottles and flask from polymers grew to 1.268 billion items (January - 917 million items and February - 1.03 billion items). The overall output of large bottles, bottles and flasks in Russia was about 3.215 billion items over the first three months of the year, up by 3.2% year on year.

Last month's output of plastic windows, their frames and sills reached 1.7 million square meters (in January - 1.2 million square meters and in February - 1.4 million square meters). The production of plastic windows and window sills dropped to 4.3 million square meters in the first quarter of 2014, down by 0.4% year on year.

March production of plastic pipes, hoses and fittings totalled about 41,400 tonnes (in January - 26,300 tonnes and in February - 35,000 tonnes). The overall production of these products reached 102,700 tonnes from January to March 2014, down by 20% year on year.
MRC

MOSCOW (MRC) -- PolyOne Corporation, a premier provider of specialized polymer materials, services and solutions, is establishing a new Innovation Center in Shanghai, China, as per the company's press release.

The new facility will facilitate collaboration, accelerate application development and increase speed-to-market for customers in the Asia Pacific region.

The state-of-the-art facility will be strategically located in a new hi-tech industrial park in the JinQiao Development Zone in Shanghai, and will focus on research and development projects generated within the company's Specialty Engineered Materials business segment. The new Innovation Center is expected to open in the fourth quarter of 2014.

"We are very pleased to be making this investment in such an important region," said Craig Nikrant, president, Global Specialty Engineered Materials. "Our customers in Asia will benefit from the expanded infrastructure, technical resources and unparalleled expertise that will be offered at our new Innovation Center."

As MRC informed earlier, in February 2014, PolyOne Corporation announced the addition of new capabilities to its OnColor HC Plus portfolio. These expanded offerings add medical-grade LDPE, nylon, PEBA, PS and PVC to the globally available palette of specialty healthcare colorants, and are pre-certified to meet or exceed biocompatibility requirements for ISO 10993 and/or USP Class VI protocols.

PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins.
MRC