Chevron reports second quarter 2010 results

(BUSINESS WIRE) -- Chevron Corporation today reported that earnings for the second quarter 2010 are expected to be higher than in the first quarter. Upstream earnings are projected to be in line with first quarter results. Downstream results, inclusive of the former Chemicals business segment, are expected to be significantly higher than the first quarter. Additionally, earnings are expected to benefit from favorable non-cash foreign currency effects due to the strengthening of the U.S. dollar in the second quarter.


Kaustik purchases remaining BZS stocks

(Finam) -- After purchasing 97% stocks of Bereznikovskiy Sodovy Zavod (BZS - Berezniki Soda Plant), Sterlitamak based Kaustik (Bashkhim group) has sent all the minor BZS stockholders obligatory offer about purchase of BZS equities, according to requirements of ⌠About joint-stock companies" law. Offer price forms RUB 7.281 ($236) for one equity. Terms of offer accepting are 70 days since the announcement date. Sberbank has provided bank guarantee of the offer.

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New South Asia Petrochem PET plant to be built by March 2012

(plastemart) -- Plans are underway to build a polyethylene terephthalate (PET) plant in Egypt by India's South Asia Petrochem (SAPL). To be built at an outlay of US$170 mln, at the approved site at Port Said; start-up is planned for March 2012. SAPL had earlier suspended the project due to lease deed problems at its initially proposed site at Port Said. But the project has been resumed after fresh approval from the Egyptian Government for the restructured project. Output from the plant will cater to demand in Egypt - a net importer of PET bottle chips, and, due to its strategic location will also be exported to North Africa, Europe, USA and the Middle East.


Singapore ExxonMobil plants back on track

(plastemart) -- An outage that occurred at the beginning of the month is over at ExxonMobil's polyolefin plant in Singapore. Production has resumed at the 600,000 tpa polyethylene (PE) plant and 405,000 tpa polypropylene (PP) plant. According to Karen Wong, spokesperson at the Singapore based office of ExxonMobil Asia Pacific, ⌠The outage that took place in early July is over and we are working to optimize polyethylene production at the Singapore plant to meet our customers' needs.


Tomskneftekhim lifts accident results

NOVOSIBIRSK (RIA Novosti) -- Specialists have accomplished reclamation work on the accident place at Tomskneftekhim Ltd. site, where methanol tanks capsized on Friday.

Tanks of the train with methanol on adjoining railway track started spontaneous movement on Friday afternoon at Tomskneftekhim site. That led to collision with manoeuvring locomotive on the switch point. As a result, two tanks ran off the rails and one of them was depressurized.

According to the company, toxicity standard was within the mark. There is no threat either to people's life and health or to the environment.