Lukoil Board of Directors set priorities for 2012

(Lukoil) -- The OAO Lukoil Board of Directors held a meeting in Moscow today to summarize the Company's preliminary performance results in 2011 and set priorities for 2012 and the near term.
In 2011, hydrocarbon production by Lukoil Group (including what is produced by subsidiaries and the share in affiliated companies' production) is expected to total 112.7 million TRF, which is 4.6 million TRF lower than in 2010. As for crude oil, Lukoil Group's expected production figure is 90.7 million tons, of which 84.7 million tons will be produced in the Russian Federation and 6 million tons abroad.

A technological break-through achieved in 2011 allowed to enhance the forecast of an economic commencement in 2012-2021 of an additional 3.6 billion barrels of oil reserves by way of raising the oil recovery factor at fields within the Russian Federation. Maximum efficiency was achieved thanks to the introduction of new technical and engineering approaches enabling maximum contact with the collector as new production wells and sidetracks of the existing wells are drilled, and also the application of well completion techniques characterized by multi-zone fracturing, which tripled the rates.

The oil stock refining volume for the Company's refineries is expected to be 53.5 million tons in 2011, including 45.3 million tons for the Russian refineries (including mini-refineries) and 8.2 million tons for the overseas refineries, due to the raising of the Company's stake in the ISAB Complex up to 60%.

Yet, as against 2010, the overall volume of refining has gone down by 3% in connection with the scheduled outage at the PAO ⌠Lukoil Odessa Refinery and the lowered loading of the refineries in Bulgaria and Romania, which is part of operational planning aimed at minimizing the operation losses.

Lukoil Group's investments in 2011 are expected to reach USD 9.8 billion (+ 22% to the level of 2010). In the ⌠Geological Exploration&Production business segment, investments will grow 29% to reach USD 7.6 billion. In ⌠Refining&Marketing, investments in 2011 are expected at the level of USD 2 billion, which will allow to produce more gasoline of premium quality.

RUR 4.9 billion was allocated to the financing of science and technology in 2011. The financing volume of the Program for Industrial Safety, Improvement and Protection of Labor Conditions, and Prevention and Response to Emergency Situations topped RUR 7 billion in 2011. Over RUR 20 billion were spent on environmental safety measures in 2011.


Borealis launched next generation high performance grade Borclear RC737MO

(Borealis) -- Borealis, a leading provider of chemical and innovative plastics solutions, is taking transparency in extrusion blow moulded polypropylene (PP) bottles to new heights with the launch of next generation high performance grade Borclear RC737MO.

Presenting a crystal-clear advance in visual appeal and processability, the new PP grade creates differentiation, cost-efficiency and sustainability advantages for converters and brand owners in the fast moving consumer goods market. Borclear RC737MO is designed specifically for cosmetics and baby bottles and enables to produce bottles up to two litres in size.

Borclear RC737MO can be processed by applying the usual processing settings for random PP grades, with barrel temperatures in the range of 190-220╟C. Its higher melt strength enables converters to more easily regulate wall thickness. This enables consistent and enhanced processing combined with good reproducibility as well as greater design flexibility. The lower weight variations will reduce the potential for breakage during transportation and use.

The grade Borclear RC737MO responds to consumers' safety concerns through the elimination of Bisphenol A (BPA). From an environmental perspective, it can also contribute to lower resource consumption and CO2 emissions from the processing cycle through weight reduction. Borclear RC737MO is fully recyclable.


QPI plans to buy a 25% stake in the Long Son petrochemical project in Vietnam

(Plastemart) -- Qatar Petroleum International (QPI) plans to buy a 25% stake in the USD4 bln Long Son petrochemical project in Vietnam, as per senior executive of Petrovietnam as reported by Reuters.
"We will establish a joint venture to build the complex," Do Van Hau, Petrovietnam chief executive officer said after signing an investment agreement with QPI officials. Detailed work on the joint venture will start next month.

The complex will be Vietnam's first fully integrated petrochemical project, consisting of upstream, intermediate and downstream plants, QPI said. The venture comprises Petrovietnam, Vietnam's Vinachem, SCG Chemicals and Thai Plastics and Chemicals Co Pcl.


Polymera added 60 mln lbs of WPC compound capacity at their central Ohio facility

(Plastemart) -- Polymera Inc., producer of wood and natural fiber polymer composite compounds, announced that the company has added 60 mln lbs of WPC compound capacity at their central Ohio facility. The 160,000 sq. ft. manufacturing facility, located in central Ohio, houses a state-of-the-art, fully automated manufacturing system for wood/natural fiber polymer composite compounds. The company has the flexibility to provide varying material formulations utilizing a wide spectrum of raw materials per customer specifications.

"Polymera is addressing a need for WPC compound that simply has not been available in the industry, until now," stated Polymera's Vice-President, Herb Hutchison. Polymera can provide technology assistance in addition to the WPC compounds. "Our objective is to help extrusion, injection and compression molding companies that would like to enter the WPC market but cannot justify the very large investment in upstream blending and material handling systems".

Merablend is a wood/natural fiber polymer composite material for injection molding, extrusion and compression molding applications that targets processors interested in entering the WPC market by offering multiple material options such as varying fiber loadings in High Density Polyethylene (HDPE), Polyvinyl Chloride (PVC) and Polypropylene (PP) base polymers. Merablend WPC compounds can be used for both interior and exterior applications, in a variety of markets. Meraplast Technology Solutions provides consultation for companies looking to enter the wood/natural fiber polymer composite market.


Automotive injection molder Century Mold Inc. to expand its Shelbyville plant

(Plastics Today) -- Automotive injection molder Century Mold Inc. will invest USD4.2 million to expand its Shelbyville, TN plant, a move that ultimately will create 58 new jobs. Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty today joined with representatives from Century Mold to announce the investment on Jan. 13.

According to the company's website, the operation in Shelbyville covers 100,000 sq ft, and runs 25 injection molding machines, ranging in clamp force from 60 to 1150 tons. It also as a full tool room with the capacity to build molds up to 20,000 lb.

In early 2012 Century Mold will start construction on a new injection molding facility in Queretaro, Mexico located in the El Marques Industrial Park. The company plans to invest more than USD15 million on new equipment for this facility over the next 36 months, with the plant to cover approximately 100,000 sq ft and able to house injection molding machines up to 3500 tons.

Century anticipated that facility being complete early in the fourth quarter of 2012, with actual production to start as early as January 2013. The facility will house up to 40 machines in larger tonnages ranging from 390 tons to 2200 tons by 2016 including two shot injection molding machines.