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Raizen to acquire Shell lubricant business in Brazil

June 08/2021

MOSCOW (MRC) -- Brazilian energy company Raizen, a joint venture between Royal Dutch Shell Plc and local group Cosan SA is acquiring Shells lubricants business in Brazil, reported Reuters with reference to the Brazilian joint venture between Shell and Cosan's announcement on Monday.

The acquisition includes the lubricant blending plant in Ilha do Governador and the terminal in Duque de Caxias, both in Rio de Janeiro. It also includes the distribution chain and related agreements.

Transaction figures and closing date were not disclosed. The sale is subject to approval by the Brazilian Antitrust Authority (CADE).

As MRC informed previously, in late May, 2021, Shell agreed to sell its controlling interest in a Texas refinery to partner Petroleos Mexicanos (Pemex) for about USD596 million. And in early May, Shell announced the sale of its 149,000 barrel per day (bpd) refinery in Washington to Hollyfrontier Corp.

Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP block copolymer, homopolymer PP, propylene, ethylene, petrochemistry, adhesives, Pemex Petrochemicals, Shell, Brazil, Mexico, Russia, USA.
Category:General News
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