PETRONAS and BASF move ahead with expansion of partnership in Malaysia

Under the terms of the HOA, the partners have agreed to form a new entity (BASF 60%; PETRONAS 40%) to jointly own, develop, construct and operate production facilities for isononanol, highly reactive polyisobutylene, non-ionic surfactants, methanesulfonic acid, and plants for precursor materials. These world-scale facilities will become an integral part of PETRONAS' RAPID project.

The chemicals to be produced at the new facilities will directly contribute to the sustainable development of the Asia Pacific region, especially in ASEAN. For example, nonionic surfactants are used in almost all cleaning applications, particularly in environmentally friendly laundry detergents as well as in technical processes, including as ingredients for auxiliaries in the textile and leather industry.

MRC

(peopledaily) -- China Petrochemical Corporation (Sinopec), one of China's oil giants, announced Monday that the group has prospected an oilfield in Brazil with a daily output of 5,000 barrels of oil and 810,000 cubic meters of natural gas.

The well site called Pao de Acucar lies in the BM-C-33 oilfield zone in Campos Basin, Brazil. The well was drilled from Aug. 8, 2011, to Jan. 10, 2012, and subsequent testing finished on Feb. 18, 2012.

The prospecting work was operated by Sinopec and Repsol, a Spanish oil giant.
MRC

Ethylene prices rebounded on the last day of the week in Asian markets after two flat days of trade, propelled by tightening of supplies and higher crude and naphtha prices. In Europe, ethylene spot prices touched new highs, bolstered by rallying naphtha prices and various production issues in the European cracker system.

MRC

PCS managing director Akira Yonemura said: "We are also very pleased to announce our decision to go ahead with our new butadiene plant, which is made possible through the close collaboration with LANXESS.
"This new investment will further strengthen PCS's competitive position and we look forward to working with LANXESS for the successful completion and start-up of both our new plants."
PCS is constructing a new butadiene extraction unit and associated infrastructure necessary to provide the raw material.

TP Utilities director and Tuas Power president and chief executive officer Lim Kong Puay said: "We thank LANXESS for continuing to show strong confidence in our services by selecting TP Utilities again as a key supplier to its latest milestone project. We will be supplying steam to LANXESS' new Nd-PBR plant, when it begins operation, for a contract period of ten years, with an option to extend the service."

MRC