Celanese to increase January prices of acetic acid in the Americas

MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company and a global leader in vinyl acetate ethylene (EVA) emulsions, will increase list and off-list selling prices for acetic acid in early 2017, as per the company's statement.

The price increase below will be effective January 1, 2017, or as contracts allow, and will be USD0.03/lb for the USA and Canada and USD65/tonne for Mexico and South America.

As MRC reported previously, Celanese Corporation, a global technology and specialty materials company, raised its November list and off-list selling prices for acetic acid in China in view of recent market conditions. The price increase below was effective as of 23 November, or as contracts allow, and was RMB150/mt.

Besides, in November 2016, Celanese Corporation increased the price of EVA emulsions sold in China. Prices of EVA emulsions rose by CNY200/MT for China effective November 20, 2016, or as contracts allow. This price increase affects all applications including, but not limited to, adhesives, paints and coatings, waterproofing, building and construction, carpet and paper and is attributed to the continued pressures on raw materials, notably ethylene and vinyl acetate monomer (VAM).

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. Based in Dallas, Celanese employs approximately 7,000 employees worldwide and had 2015 net sales of USD5.7 billion.
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MOSCOW (MRC) -- Chevron, the US oil and gas group, is focusing on expanding in high growth sectors such as petrochemicals, additives, and lubricants, reported MarketRealist.

By 2018, the company expects to increase the capital employed in its Chemicals and Lubricants segment to 42%, compared to 35% in 2015.

Chevron is also focusing on the integration of refining and petrochemical complexes at various sites to increase operational synergies and benefits, as well as expand its petrochemical capacity and spread with some of its major ongoing projects.

Chevron’s carboxylate addition project, located in Singapore and expected to be completed in 2017, is expected to double its worldwide lubricant capacity.

Chevron’s other petrochemical project, which includes the construction of ethylene and polyethylene (PE) facilities in Texas, is approximately 80% complete. The project is expected to start up by 2017.

As MRC informed before, in December 2015, Chevron announced steep cuts in its spending on production and exploration, as it set out a plan to cut capital expenditure in 2016 by 24%.

Chevron is the second-largest US oil group by production and market capitalisation, after ExxonMobil. Chevron Phillips Chemical (part of Chevron), headquartered in The Woodlands, Texas (north of Houston), US,l is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, piping, and proprietary plastics. Chevron and Phillips 66 each own 50% of Chevron Phillips Chemical.
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MOSCOW (MRC) -- Chevron Corporation announced that its wholly-owned subsidiaries have entered into a sales and purchase agreement with Star Energy Consortium to sell Chevron’s Indonesian and Philippines Geothermal assets, said the company on its website.

"These assets deliver reliable energy to support the needs of Asia-Pacific’s growing economies," said Jay Johnson, executive vice president, Upstream, Chevron Corporation. "This sale is aligned with our strategy to maximize the value of our global upstream businesses through effective portfolio management."

In Indonesia, Chevron subsidiaries operate the Darajat and Salak geothermal fields in West Java. In the Philippines, company subsidiaries have a 40 percent equity interest in the Philippine Geothermal Production Company, Inc., which operates the Tiwi and Mak-Ban geothermal power plants in Southern Luzon.

As MRC informed earlier, in July 2016, USD36.8bn expansion of the Tengiz oilfield in Kazakhstan, the largest investment by private sector oil companies this decade, has been given the go-ahead by Chevron of the US, bucking the trend of delays and cancellations resulting from the slump in crude prices since mid-2014.

Chevron Corporation is one of the world's leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company's operations. Chevron is based in San Ramon, Calif.

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MOSCOW (MRC) -- General Electric Company and Toyo Engineering Corporation has signed a memorandum of understanding for a joint project to explore digital solutions for the fertilizer and petrochemicals industry, as per Plastemart.

Under the MOU, GE and Toyo will jointly work to evaluate, define and confirm the technical and economic feasibility of the deploying of GE Predix, a unique cloud-based platform built for industry, and Asset Performance Management (APM) software, to implement specific solutions for pre-FEED, FEED, EPC, commissioning, operation and maintenance phases of fertilizer and petrochemicals facilities.

"GE has a strong track record in providing asset reliability solutions across the Oil & Gas segments around the world, through advanced sensors, combination of data driven and physic based analytics, and troubleshooting expertise," the company said in a press release. "Toyo brings its complementary expertise on processes and plant operations as EPC contractor of fertilizer and petrochemicals plants and as Licensor of Urea synthesis and granulation technologies."

As MRC informed before, in 2014, Toyo Engineering Corporation was awarded a contract for a Steam Cracker Complex (SCC) project in Malaysia by PRPC Refinery and Cracker Sdn. Bhd., a subsidiary under the Petroliam Nasional Berhad (PETRONAS) group. The SCC will be part of PETRONAS’ Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang, Johor, Malaysia. The contract has been awarded on a lump sum turn-key basis and is scheduled for completion by mid-2019.
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MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex binders and synthetic rubber, and its affiliate companies in Europe has announced price increases for all natural polycarbonate (PC) grades, as per the company's press release.

Effective immediately, or as existing contract terms allow, contract and spot prices for the product listed below will increase as follows:

- CALIBRE polycarbonate resins - by EUR220 per metric ton.

As MRC wrote before, Trinseo last increased PC prices in late September 2016, as follows:

- CALIBRE PC resins by - EUR200 per metric ton.

As MRC informed before, in December 2016, Trinseo also raised prices for all polystyrene (PS), acrylonitrile-butadiene-styrene (ABS) and acrylonitrile styrene copolymer (SAN) grades. Effective as of 1 December 2016, or as existing contract terms allow, the December contract and spot prices for the product listed below rose as follows:

- STYRON general purpose polystyrene grades (GPPS), STYRON and STYRON A-TECH high impact polystyrene grades (HIPS) - by EUR170 per metric ton;
- MAGNUM ABS resins - by EUR100 per metric ton;
- TYRIL SAN resins - by EUR100 per metric ton.

Trinseo is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber. We are focused on delivering innovative and sustainable solution to help our customers create products that touch lives every day - products that are intrinsic to how we live our lives - across a wide range of end-markets, including automotive, consumer electronics, appliances, medical devices, lighting, electrical, carpet, paper and board, building and construction, and tires. Trinseo had approximately USD4.0 billion in revenue in 2015, with 18 manufacturing sites around the world, and more than 2,200 employees.
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