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OMV appoints new refining head

April 19/2021

MOSCOW (MRC) -- The Supervisory Board of OMV Aktiengesellschaft, the international, integrated oil, gas and chemical company headquartered in Vienna, has appointed Martijn van Koten (51) as the new Executive Board member responsible for the Refining division of OMV Aktiengesellschaft, as per the company's press release.

Martijn van Koten has accepted the appointment. He will assume the position depending on his availability, at the latest with effect from July 1, 2021 for a three-year period, with an extension option for further two years, subject to mutual consent. Martijn van Koten is currently working as Executive Board Member for Base Chemicals and Operations at Borealis AG.

The reorganization of the OMV Group approved by the Supervisory Board came into force on April 1, 2021, involving splitting and expanding the former area of Refining & Petrochemical Operations into two areas: Refining and Chemicals & Materials.

This structural change facilitates the forward integration in the chemicals sector that has been underway ever since OMV acquired a majority stake in Borealis. With this change, OMV is consistently positioned across the entirety of its expanded value chain and can bundle all relevant responsibilities for petrochemicals and chemicals in a single board division. 

As MRC wrote before, OMV is investing EUR40 million (USD48 million) to expand and modernize a steam cracker and associated units at its refining and petrochemicals complex at Burghausen, Germany. The upgrade will increase the sites ethylene and propylene production capacity by 50,000 metric tons/year. Following a planned turnaround of the refinery, the revamped cracker and petchem units are expected to start operations in the third quarter of 2022. Initial groundwork is already underway ahead of the upgrade.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated polyethylene (PE) consumption totalled 356,370 tonnes in the first two month of 2021, down by 9% year on year. Shipments of exclusively low density polyethylene (LDPE) increased. At the same time, polypropylene (PP) shipments to the Russian market was 246,870 tonnes in January-February 2021, up by 30% year on year. Supply of homopolymer PP and PP block copolymers increased.

OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions in a responsible way. With Group sales of EUR 23 bn and a workforce of around 20,000 employees in 2019, OMV Aktiengesellschaft is one of Austrias largest listed industrial companies.


mrcplast.com
Author:Margaret Volkova
Tags:Europe, PP, PE, crude and gaz condensate, PP block copolymer, homopolymer PP, propylene, LDPE, ethylene, petrochemistry, Borealis, OMV, Austria, Russia.
Category:General News
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