ADNOC opens fueling facility at Abu Dhabi International Airport

MOSCOW (MRC) -- Abu Dhabi National Oil Company (ADNOC), with its subsidiary company ADNOC Distribution, hosted an official opening ceremony for its new "North Depot" aviation fuel facility at Abu Dhabi International Airport, as per Hydrocarbonprocessing.

The ceremony was overseen by Abdulla Salem Al Dhaheri, Director of Marketing, Sales and Trading for ADNOC, and Saeed Mubarak Al Rashdi, Acting Chief Executive Officer of ADNOC Distribution. It was attended by senior ADNOC and ADNOC Distribution executives and key stakeholders, including Abdul Majeed Al Khoori, Acting Chief Executive Officer of Abu Dhabi Airport.

"The opening of the North Depot at Abu Dhabi International Airport’s new Midfield Terminal represents the latest stage in our growth and expansion strategy to meet the needs of aviation customers,” said Abdulla Salem Al Dhaheri, Director of Marketing, Sales and Trading for ADNOC. "Through ADNOC Group, we now refuel as many as 34 aircraft per hour at 26 fuel depots across the UAE. More than 200 customers in the civil and military sectors rely on our high standard products and services, distributed through state-of-the-art fueling facilities, and with health, safety, and the environment (HSE) at the core of all operations."

Over USD200 MM was invested in the fuel depot at the new Midfield terminal to meet an anticipated significant increase in demand for aviation fuel from Etihad Airways and its associated airlines. With a fuel storage capacity of 96 MM liters - comparable to the amount of water needed to fill 38 Olympic size swimming pools - the North Depot will be the airport’s exclusive provider of Jet A1, a fuel manufactured to meet the most stringent standards and specifications as recognized by its international validation.

The North Depot will provide up to 6.5 MM liters of fuel per hour through a battery of 24 pumps controlled by a Basic Process Control System with sophisticated gauging mechanisms to monitor the level of fuel in the depot’s tanks: the facility will be capable of fueling more than 100 aircraft simultaneously as a result. To ensure the highest safety levels, the depot is equipped with advanced fire detection and fire suppression/firefighting systems. Continuity of service is ensured by a full generator backup facility to power the depot and its pumps in the event of a cut in electric power from the public grid.

A key element in the realization of Abu Dhabi Vision 2030, Abu Dhabi International Airport’s new Midfield Terminal, which will be served by the North Depot, has the capacity to handle more than 30 MM passengers annually after it becomes fully operational.

As MRC informed before, ADNOC is targeting rapid growth in demand for its polymer products from China’s automotive industry and the country’s investment in gas and electricity infrastructure. ADNOC is focused on market expansion in China and Asia, where demand for petrochemicals and plastics, including light-weight automotive components, essential utility piping and cable insulation, is forecast to double by 2040.

The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates (UAE). According to the Oil & Gas Journal, as of January 2015, the UAE holds the seventh-largest proven reserves of oil in the world at 97.8 billion barrels. Most of these reserves are located in Abu Dhabi. It is the world's 11th largest oil company by production, standing at 3.1 million barrels per day.It is the UAE's biggest company.
MRC

According to the statistical committee of the Republic of Belarus, local converters virtually maintained the March level of purchasing of unmixed PVC in April, total imports were just over 2,500 tonnes. Thus, PVC imports rose in the first four months of 2017 to 8,600 tonnes from 6,200 tonnes in January-April 2016, local windows producers accounted for the main increase in demand.

Russian producers were the key suppliers of resin to Belarus. They accounted for about 68% of the Belarusian market in the first four months of the year. Producers from Germany with the share of about 29% were the second largest suppliers.

MRC

MOSCOW (MRC) -- Pittsburgh Plate Glass (PPG) has reached a definitive agreement to sell its remaining fiberglass operations to Nippon Electric Glass Co. Ltd. (NEG), a leading manufacturer of fiberglass, reported Hydrocarbonprocessing.

The transaction is expected to close in the second half of 2017, subject to customary closing conditions. Pre-tax proceeds from the sale are approximately USD545 MM, and are subject to customary closing adjustments.

PPG’s remaining fiberglass operations include manufacturing facilities in Chester, South Carolina, and Lexington and Shelby, North Carolina; and administrative and research-and-development operations in Shelby and in Harmar, Pennsylvania, near Pittsburgh. The business, which employs more than 1,000 people and had net sales of approximately USD350 MM in 2016, supplies the transportation, energy, infrastructure and consumer markets.

In 2016, PPG completed the sale of its European fiberglass operations to NEG and divested its ownership interests in two Asian fiberglass joint ventures. PPG also completed the sale of its North American flat glass business in 2016.

"We considered all of the strategic alternatives for the business and factored potential impacts to stakeholders. We are pleased that these operations will become part of NEG, a company that is focused on fiberglass as a core business," said Michael H. McGarry, PPG chairman and CEO. "This transaction represents the end of PPG’s history as a manufacturer of fiberglass and is the final action in our disciplined, multiyear strategy to divest non-core businesses. Going forward, we will continue to focus on growing our paints, coatings and specialty materials businesses."

As MRC wrote previously, in November 2016, PPG announced that it had reached an agreement with the Emerging Europe Accession Fund (EEAF) to acquire DEUTEK S.A., a leading Romanian paint and architectural coatings manufacturer.

PPG Industries, Inc. (PPG) is a global supplier of protective and decorative coatings. Performance Coatings, Industrial Coatings and Architectural Coatings- EMEA segments supply protective and decorative finishes for customers in a range of end use markets, including industrial equipment, appliances and packaging; factory-finished aluminum extrusions and steel and aluminum. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world.
MRC

MOSCOW (MRC) -- BASF Mexicana, S.A. DE C.V. has entered an agreement to sell a portion of the oleochemical surfactants business in Mexico to the Stepan Company for an undisclosed price, as per Hydrocarbonprocessing.

The transaction is expected to close in Q4 2017, subject to applicable regulatory approvals and the satisfaction of certain other requirements.

The Mexico oleochemical surfactants business is part of BASF's Care Chemicals division. The transaction includes the Mexico oleochemical surfactants product portfolio and associated intellectual property, as well as the production assets at the Ecatepec manufacturing site in Estado de Mexico. Under the terms of the agreement, most of the BASF employees at the Ecatepec site will transfer to the Stepan Company.

"The sale of the oleochemical surfactants business in Mexico to Stepan will allow us to focus on other areas of our broad portfolio and provide continuity for our customers," said Michael Stumpp, President, BASF Mexicana. "Ensuring a smooth transition to Stepan and honoring our obligations to customers, suppliers and employees will be a priority."

"With this divestiture, BASF’s Care Chemicals business will help our customers in Mexico grow further by focusing on more strategic aspects of our home care, personal care and industrial solutions portfolio, including optical effects, specialty co-surfactants, actives, emulsifiers and polymers," said Scott Thomson, Senior Vice President, Care Chemicals for BASF, North America.

BASF’s oleochemical surfactants business in the US, Europe, and Asia is not impacted by this decision. Oleochemical surfactants are used primarily for making soaps and detergents in a wide range of home care and personal care products.

As MRC informed previously, in November 2016, BASF unveiled plans to invest globally within the next five years more than EUR200 million in its plastic additives business, approximately half of which in Asia, focusing on capacity expansions and operational excellence. Plastic additives improve product properties such as scratch resistance or light stability, and optimize plastics manufacturing processes. As the leading global supplier of plastic additives with manufacturing assets in all regions, BASF is a major partner to the plastics industry.

BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
MRC

MOSCOW (MRC) — Brazil's state-controlled oil company Petroleo Brasileiro SA reduced on Wednesday its average prices at refineries by 2.3% for gasoline and 5.8% for diesel, said Reuters.

The price change in Brazil reflects international oil prices, added Petrobras, as the company is known. The gasoline prices for consumers may drop up to 0.9% and diesel prices, up to 3.5%, the company said.

As MRC informed earlier, Alpek, S.A.B. de C.V. has announced that it obtained all necessary corporate approvals to acquire 100% of PetroquimicaSuape and Citepe from Petrobras for USD385 MM.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.