Diamines and Chemicals to ramp up production capacity of synthetic organic chemicals

Diamines and Chemicals Limited has received a letter dated November 02, 2023 from Gujarat Pollution Control Board (GPCB) for Proposed Expansion of Synthetic Organic Chemicals in existing manufacturing unit, said Indianchemicalnews.

Diamines and Chemicals Limited at Plot No. 13, PCC Area, P.O. Petrochemicals, Vadodara-391350. The company received Consolidated Consent & Authorization (CC&A) for setting up Proposed Expansion of Synthetic Organic Chemicals in existing manufacturing unit of M/s. Diamines and Chemicals Limited.

Considering CC&A as final permission to manufacture new products and will contribute to increase in total production capacity.

Shares of DIAMINES & CHEMICALS LTD. was last trading in BSE at Rs. 469.25 as compared to the previous close of Rs. 456.25. The total number of shares traded during the day was 5666 in over 596 trades.

We remind, Russia has lifted restrictions on gasoline exports, the energy ministry said on Friday, after scrapping most restrictions on exports of diesel last month, saying there was a surplus of supply while wholesale prices had declined. It said it could reimpose export bans if necessary, adding that stocks of gasoline had risen to around 2 million metric tons.

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North American chemical rail traffic rose 13.3% year on year to 48,903 railcar loadings for the week ended 18 November, according toAssociation of American Railroads.

Loadings increased in all three countries: the US, Canada, and Mexico. For the first 46 weeks of 2023 ended 18 November, North American chemical rail traffic was down 0.5% year on year to 2,088,510 loadings - with the US down 1.9% to 1,431,733.

In the US, chemical railcar loadings represent about 20% of chemical transportation by tonnage, with trucks, barges and pipelines carrying the rest. In Canada, chemical producers rely on rail to ship more than 70% of their products, with some exclusively using rail.

We remind, North American chemical rail traffic rose 2.8% year on year to 45,725 railcar loadings for the week ended 11 November, rebounding from an 1.3% decline the week before. Increased loadings in Canada and Mexico more than offset an 0.3% decline in the US.

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Danish shipping group Maersk said on Wednesday it has agreed to buy 500,000 tpy of bio-methanol and e-methanol from China's Goldwind, to enable low carbon operations, starting in 2026, said Hydrocarbonprocessing.

The volumes combine a mix of green bio-methanol and e-methanol, all produced with wind energy at a new plant. Goldwind is expected to confirm a final investment decision for the facility by the end of the year, Maersk said in a statement.

"This deal is a milestone for Maersk as it enables us to significantly reduce our emissions footprint in this decade," the company's Chief Infrastructure Officer Rabab Raafat Boulos said in a statement.

The long-term deal will enable low carbon operations for the first 12 large methanol-enabled Maersk vessels on order, which are due for delivery in 2024 and 2025, the company added.

Russia has lifted restrictions on gasoline exports, the energy ministry said on Friday, after scrapping most restrictions on exports of diesel last month, saying there was a surplus of supply while wholesale prices had declined. It said it could reimpose export bans if necessary, adding that stocks of gasoline had risen to around 2 million metric tons.

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Neste is partnering with two new distributors in France to make Neste MY Renewable Diesel™ available for the first time in the market and to contribute to the reduction of greenhouse gas emission in the transport sector, said Hydrocarbonprocessing.

Neste MY Renewable Diesel will be available in France from the beginning of January, 2024. “We are very proud to start our collaboration with two new fuel distribution partners, Altens and Bollore Energy in the French market. In France, transportation is the single largest source of greenhouse gas emissions, accounting for 30% of all emissions. With Neste MY Renewable Diesel, greenhouse gas emissions can be reduced by as much as 75-95%* over the life cycle of the fuel compared to fossil diesel,” says Peter Zonneveld, VP Sales EMEA, Renewable Road Transportation at Neste.

“The collaboration between Neste, the world’s leading producer of renewable diesel, and Altens, a 100% dedicated provider of non-fossil and low-carbon solutions, reflects a joint commitment to effective decarbonization initiatives. Our decision to join forces with Neste to make Neste MY Renewable Diesel available in France was based on the reliability and efficiency of the solution enabling significant greenhouse gas emission reductions for its users. Furthermore, Neste MY Renewable Diesel is a high-quality and high-performance fuel, meeting all specifications of relevant technical standards,” says Mohamed Bennama, Director at Altens.

“As a major actor in distributing oil and gas in France and in Europe, Bollore Energy is proud to announce the partnership with Neste. This is a step forward that is seamlessly connected to our ambitions to reduce greenhouse gas emissions from transportation – thanks to Neste MY Renewable Diesel,” says Thibaut de Rivoire, Deputy CEO of Bollore Energy.

Many French truck transportation companies, public fleets, construction companies and large fleet operators are in the process of switching to more sustainable energy sources, but a large part of the French road transport is still powered by fossil diesel. Neste’s collaboration with two new fuel distributors will help French companies to significantly reduce greenhouse gas emissions with their existing fleet by switching fossil diesel to renewable diesel. Neste MY Renewable Diesel is an immediate solution for significantly reducing greenhouse gas emissions, suitable for all diesel engines without any need to invest in new vehicle fleets or modifications to the vehicles or their engine.

Neste, Altens and Bollore Energy wish to emphasize that if France wants to reach the goals set by the French government through the energy climate law and the national low-carbon strategy, while also meeting the European targets, its energy-climate strategy must include the use of biofuels and low-carbon liquid fuels alongside electric and hydrogen. All solutions should be considered when addressing climate change.

We remind, Russia has lifted restrictions on gasoline exports, the energy ministry said on Friday, after scrapping most restrictions on exports of diesel last month, saying there was a surplus of supply while wholesale prices had declined. It said it could reimpose export bans if necessary, adding that stocks of gasoline had risen to around 2 million metric tons.

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On November 20, 2023, the Monday before Thanksgiving, the retail price of regular gasoline averaged $3.29 per gallon (gal) across the United States, 10% less than the same time last year, said Hydrocarbonprocessing.

After adjusting for inflation (real terms), retail gasoline prices this Thanksgiving weekend are 13% lower than last year, but they remain higher than pre-pandemic levels for the third year. This Thanksgiving, the American Automotive Association (AAA) forecasts 55 million people will travel 50 miles or more for the Thanksgiving holiday, a 2% increase compared with 2022.

Typically, U.S. retail gasoline prices follow a seasonal trend: prices increase in late summer when people drive more frequently and then decline going into the winter. Less gasoline demand than usual this fall and an early transition to winter-blend gasoline in California helped accelerate the decline in prices. Regulations on gasoline vapor pressure allow refiners to switch to less expensive components to produce gasoline in the fall, which tends to reduce gasoline prices.

Despite crude oil production cuts by OPEC+ members over the last year, concerns about slowing economic growth reducing world oil demand have continued to push crude oil prices down. The Brent crude oil price declined 15% from its most recent peak of $96.55 per barrel (b) on September 27 to $82.32/b on November 20, reaching its lowest level since July. Crude oil prices are the primary driver of U.S. gasoline prices, making up 55% of the total cost to produce a gallon of gasoline.

U.S. gasoline prices vary regionally, reflecting local supply and demand conditions, different fuel specifications required by state laws, and taxes. Regional gasoline prices are usually highest on the West Coast because of the region’s limited connections with other major refining centers, tight local supply and demand conditions, and gasoline specifications that make it more costly to manufacture. West Coast prices as of November 20 averaged $4.42/gal, down 8% since the same time last year.

We remind, Russia has lifted restrictions on gasoline exports, the energy ministry said on Friday, after scrapping most restrictions on exports of diesel last month, saying there was a surplus of supply while wholesale prices had declined. It said it could reimpose export bans if necessary, adding that stocks of gasoline had risen to around 2 million metric tons.

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