BPCL to invest Rup 5044 crore to set up polypropylene unit

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will invest Rs 5,044 crore in setting up a polypropylene production unit at its Kochi refinery in Kerala to meet rising petrochemical demand in the country.

"This visionary project leverages the abundant propylene feedstock at Kochi Refinery, marking a significant milestone in reshaping the petrochemical industry landscape. The Polypropylene Unit, boasting a production capacity of 400 Kilo-Tonnes Per Annum, is strategically designed to meet market demands and reinforces BPCL's commitment to downstream industries," BPCL said in an official statement.

BPCL’s CMD G Krishnakumar shared, “our Rs 5,044 crore investment in the Kochi Refinery's Polypropylene Unit is part of our strategic commitment towards a sustainable future. Addressing India's petrochemical demand, this project will reshape the industry, meeting the requirements for packaging films, containers and more.”

Polypropylene, a versatile material, finds applications in packaging films, sheets, boxes, containers, bags, home ware, home care, personal care, and everyday articles. The project is slated for completion in approximately 46 months, signaling BPCL's dedication to driving innovation and meeting the evolving needs of the market.

We remind, Bharat Petroleum Corp. Ltd. (BPCL) has approved a project to add petrochemical production capacity at its 7.8-million tonne/year (tpy) refinery at Bina, Madya Pradesh, India. At a meeting of the company’s board on May 15, BPCL approved an investment of 490 billion rupees (nearly $6 billion) for an ethylene cracker project at the Bina refinery that, alongside a cracker, would include the addition of other downstream petrochemical plants as well as an expansion of the refinery, the operator said in separate regulatory filings to BSE Ltd. and the National Stock Exchange of India Ltd.

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INEOS Inovyn has announced on 19 Dec 2023 the expansion of its PVC portfolio - to offer new products that meet society's everyday needs, with a significantly reduced carbon footprint and increased recycled content, said the company.

In the area of carbon neutrality, BIOVYN, the bio-attributed PVC launched by INEOS Inovyn in 2019, is designed to become carbon neutral and the net zero option. BIOVYN has been used increasingly across various sectors from automotive, building and construction, to medical and fashion applications, where fossil-free solutions with a reduced carbon footprint are needed.

To support customer targets for 2030 GHG reductions, INEOS Inovyn offers NEOVYN, which is a new PVC range with a significantly reduced carbon footprint that is 37% lower than the European industry average for suspension PVC (reduced to 1.3 kg CO2/kg PVC).

NEOVYN will be produced from the many sustainable initiatives that INEOS Inovyn is pursuing, such as an increased access to renewable energy, process electrification and the production and use of renewable hydrogen. NEOVYN will become the new low carbon footprint standard enabling converters to progress on their carbon roadmap by reducing their Scope 3 emissions and offer low carbon footprint products to their customers.

We remind, INEOS Inovyn has today published its latest sustainability report which highlights how its business is progressing key projects to reach 33% CO2 reduction in 2030, whilst remaining profitable and ahead of regulation. As Europe's leading producer of Chlor-Vinyls, INEOS Inovyn is one of the top three companies worldwide, providing a range of essential products that offer the lowest carbon footprint of their kind, with Environmental Product Declaration (EPD) to certify their credentials. It is also the largest operator of electrolysis technology in Europe, producing 60,000 tonnes of low-carbon hydrogen annually.

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SK On is advancing the intellectualization of battery production equipment through collaboration with domestic and international companies that possess global-level core technologies, said the company.

This strategy aims to leverage Information and Communication Technology (ICT) to maximize equipment efficiency and enhance productivity.

On December 26 (KST), SK On formalized a six-party Memorandum of Understanding (MOU) with Beckhoff Automation, Cisco, IFM Electronic, Yaskawa Electric Korea, and Woowon Technology at the SK Green Campus in Jongno-gu, Seoul, South Korea. This MOU is aimed at enhancing the control and communication systems for battery production equipment.

SK On intends to verify the performance, quality, and stability of the technologies and services offered by these companies and discuss strategic cooperation for the intellectualization of battery production equipment. These efforts are expected to strengthen SK On’s manufacturing competitiveness by reducing costs and improving yield, without the need for extensive equipment remodeling.

In collaboration with its partners, SK On plans to explore advancements in critical components and systems associated with battery production equipment, including controllers overseeing equipment operation, smart sensors for monitoring, communication networks, and power devices.

Upgrading the controller is closely linked to improving equipment speed, which can contribute to increased production volumes. The use of intellectualized smart sensors enables quicker and more precise detection of equipment status and errors, leading to reduced recovery times and higher operational efficiency in the event of malfunctions.

We remind, SK Earthon is exploring potential carbon dioxide (CO2) storage sites in the seas surrounding the Korean Peninsula, in collaboration with Hanyang University, the Korea Institute of Geoscience and Mineral Resources, and the Korea National Oil Corporation. Drawing upon four decades of experience in offshore oil exploration, this initiative is expected to lay the groundwork for development of the national Carbon Capture and Storage (CCS) project.

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Mitsubishi Chemical sells Indonesian PTA business to Lintas Citra Pratama, said the company.

Mitsubishi Chemical Group Corporation resolved at its Executive Officers' Meeting held that it will transfer shares of PT Mitsubishi Chemical Indonesia (President: Hideyuki Matsuda; location: Special Capital Region of Jakarta, Indonesia, hereinafter, “MCCI”), which operates the pure terephthalic acid (hereinafter, "PTA") business to PT Lintas Citra Pratama.

The two group companies of Mitsubishi Chemical Group, Mitsubishi Chemical Corporation (Representative Directors: Kouji Eguchi, Manabu Chikumoto, Head Office: Chiyoda-ku, Tokyo, hereinafter, "MCC"), and PT Lintas Buana Kasei (Representative Director: Shinichiro Hatano, Head Office: Banten Province, Indonesia (hereinafter, “LBK”) own the shares of MCCI.

We remind, Proman has signed an MoU with Mitsubishi Corporation to explore building a world-scale ultra low-carbon ammonia facility in Lake Charles, Louisiana. The proposed plant would produce approximately 1.2 million tonnes per year of clean ammonia by incorporating state-of-the-art carbon capture and sequestration technology. The proposed ultra low-carbon ammonia facility will be located on Proman's existing site in Lake Charles, adjacent to Proman's natural gas to methanol plant which is also under development.

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At least two ships transporting oil or oil products between the U.S. Gulf Coast and India last week were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants, said Hydrocarbonprocessing.

Iran-backed Houthis, who say they are supporting Palestinians under siege by Israel in the Gaza Strip, have attacked commercial shipping with drones and missiles, forcing shippers to change course and take longer routes around the southern tip of Africa.

The Aigeorgis, which was chartered by BP to carry vacuum gasoil (VGO) from India's Jamnagar to Texas, on Friday was headed along Africa's East Coast toward the Cape of Good Hope, according to financial firm LSEG's ship tracking data.

BP's VGO shipments from Jamnagar historically moved through the Red Sea. The new route adds nine days to the journey between India and the U.S. Gulf Coast. VGO is a refining feedstock used to produce gasoline and diesel.

A BP spokesperson declined to comment on the Aigeorgis but referred to an earlier statement on its decision to re-route ships. The company had said last Tuesday it would avoid the Red Sea and route vessels around the Cape of Good Hope.

The Sonangol Cabinda, chartered by Equinor to carry crude oil from Texas to India, did a 180-degree turn in the middle of the Red Sea last Thursday and was moving through the Suez Canal toward the Mediterranean, LSEG tracking data showed.

The U.S. said the naval coalition announced last week involved 20 countries. Some have not confirmed their participation, however, while others have said operations to protect Red Sea commercial traffic will be a part of existing naval agreements. The lack of practical details for shippers has caused confusion for those still avoiding the region.

Meanwhile, the Almi Globe, chartered by BP, according to LSEG shipping data has also done a U-turn in the Mediterranean. The vessel had been heading for Suez until last Thursday when it changed its destination to Las Palmas, Spain.

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