Satorp selected three banks to arrange a planned Islamic bond

(Saudi Gazette) -- Saudi Aramco Total Refining and Petrochemical Co. (Satorp), has selected three banks to arrange a planned Islamic bond, or sukuk, issue that will help it finance a large refinery complex at Jubail. Deutsche Securities Saudi Arabia, Samba Capital and Saudi Fransi Capital were chosen as joint lead managers and joint bookrunners for the sukuk, Satorp said in a statement posted on its website.

The offering, which earlier this month secured regulatory approval, will kick off Sept. 10 and last for 16 days. The total sukuk size will be determined by Satorp at a later stage, it said.
The Islamic bond is the first Shariah-compliant project sukuk instrument in the Arab world's largest economy.

Satorp, a company that is 62.5 percent owned by Aramco and 37.5 percent owned by France's Total S.A., plans to build a 400,000 barrel-a-day export refinery in Jubail. The refinery complex, estimated to cost more than USD10 billion to build, is part of a drive by the world's top oil exporter to boost refining capacity by more than 1.7 million barrels a day from installed capacity of 2.1 million barrels a day now.


Siemens Energy to supply equipment for the first PDH project in China

(Plastemart) -- Siemens Energy has received an order from China for the supply of two gas-turbine-driven axial-flow compressors trains for the first propane dehydrogenation (PDH) project in China. The purchaser is Tianjin Bohai Chemical Industry Group Co.; a company specialized in areas of the chemicals sector such as caustic soda, and the organic/inorganic/refined chemicals, rubber and plastic processing, and biochemicals industries. Currently, the demand for propylene in Asia is growing very fast. The implementation of PDH projects will facilitate China's own propylene production and the development of its downstream industries.


SIBUR held public hearing on Yuzhniy Balyk-Tobolsk Neftekhim product pipeline

(Sibur) -- The public hearing involved representatives of the Tobolsk society, the city administration and the city council, representatives of the company ⌠Tobolsk-Neftekhim, ⌠NIPIgaspererabotka, and the ⌠Environmental Security Training and Consulting Centre. As a result of the hearing, the majority of participants voted to accept the findings of the presented material as corresponding to the environmental impact assessment concerning the construction and operation of the product pipeline.
The discussion of this project is connected with the production capacity of the residual life of the existing product pipeline. The construction of the new branch of the pipeline will ensure the reliability and safety of transporting natural gas liquids (NGL) from gas-processing plants to the ⌠Tobolsk-Neftekhim facilities.


ONGC to start two petrochem projects by 2013

(Reuters) - Energy company Oil and Natural Gas Corp plans to commission two large petrochemicals projects it is developing through joint ventures in 2012 and 2013 respectively, its chairman said in a written speech to shareholders on Tuesday.

ONGC plans to commission the petrochem project at Dahej in Gujarat, being developed by ONGC Petro-additions Ltd (OPAL) in 2012 and another by ONGC Mangalore Petrochemicals Ltd (OMCL) in 2013, Chairman A.K. Hazarika said.


NIPC inks USD 400 mln contract for construction of ethylene pipeline

(Plastemart) -- National Iranian Petrochemical Company has inked a USD 400 mln contract for the construction of the Central Ethylene Pipeline with the Islamic Revolutionary Guards for Construction, KCH. Khatamolanbia Construction Headquarter will realize the project with Chinese financing in EPCF mode within 30 months, Fars news agency reported. The pipeline will transport 1.3 mln CM of ethane and 1.04 mln tpa of ethylene from Parsian Refinery to 5 petrochemical complexes for processing.