Reliance chooses Jacobs to construct MEG plant in India

(hydrocarbonprocessing) -- Reliance Industries has awarded Jacobs Engineering Group with an engineering and procurement assistance services contract for the construction of a mono ethylene glycol (MEG) plant at the Jamnagar refining and petrochemical complex in Gujarat, India.

Financial terms were not disclosed.

"We appreciate Reliance’s confidence in us for this significant portion of its petrochemical expansion project at the Jamnagar complex," said Jacobs vice president Allyn Taylor.

Reliance Industries Limited is the largest petrochemical company in India. The company is engaged in a wide range of activities, ranging from oil and gas production to production of polyester and polymer goods, including the production of polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and textiles.

Maire Tecnimont wins USD191mn Braskem-Idesa contract

(bnamericas) -- Braskem-Idesa has awarded Tecnimont, a subsidiary of Italian company Maire Tecnimont, a USD191mn engineering and procurement contract for a 300,000t/y low-density polyethylene (LDPE) unit to be constructed within the Ethylene XXI petrochemicals complex in Mexico's Veracruz state.

The LDPE unit will be built using LyondellBasell's Lupotech T technology.

The engineering and procurement activities are scheduled to be completed within the fourth quarter 2014, Maire Tecnimont said in a statement.

Ethylene XXI will house a 1Mt/y ethane-based ethylene cracker, using Technip proprietary technology, two HDPE plants using Ineos Innovene technology, and the LDPE plant.

The project is scheduled for completion in mid-2015.

Braskem Idesa is a joint venture between Brazilian petrochemical firm Braskem (65%) and Mexican group Idesa (35%).

The project will require investment of USD3.2bn.


Libya announces new National Oil Company

(eurasiareview) -- Libyan Minister of Oil Abdulbari al-Arusi held a meeting with the local council in Benghazi to discuss the management of the region’s oil resources and address political calls for federalism.

The ministry is suggesting the separation of the National Oil Corporation’s exploration and production capacities from refining.

The National Corporation for the Exploration and Production of Oil and Gas would be based in Tripoli. Both corporations would be affiliated to the Oil and Gas Ministry and would have offices in Tripoli and Benghazi.

Oil expert Fateh Belhaj is critical of the oil and gas ministry, noting that the private sector would be better suited for the task.

"If the private sector is encouraged and supported, it will significantly help overcome these problems and create many job opportunities," he said.

"I think we must understand that oil is a sovereign wealth, and we have to enable all Libyans to enjoy it. If it becomes restricted to the east or west, I warn against the marginalisation of the south which includes huge amounts of oil and gas." agreed Ali Saad, another oil engineer.

Faouzi al-Hasnaoui, an employee of the oil sector, noted that oil wealth in Libya contributes to the country’s national income. "The state and government must ensure a fair distribution of wealth, projects and companies so all areas can enjoy the country’s wealth and avoid federalism."


American bank to finance export of U.S. petrochemical goods to India

(sacbee) -- Continuing its efforts to support American jobs by boosting American exports, the board of the Export-Import Bank of the United States (Ex-Im Bank) has voted to extend a USD1.06 billion direct loan and to guarantee a USD1.06 billion JPMorgan Chase loan to Reliance Industries Ltd. (Reliance) of Mumbai, India, for the export of American goods and services destined for use in Reliance's expansion projects at Jamnagar in the Indian state of Gujarat.

The transaction is the single largest Ex-Im Bank has ever authorized for Reliance, and it represents Reliance's first attempt at funding through the capital markets with an Ex-Im Bank guaranteed bond issuance.

The credit will support approximately 12,300 U.S. jobs, according to bank estimates derived from Departments of Commerce and Labor data and methodology. Moreover, 6% of the financing is expected to support American small businesses.

Among the more than 65 exporters and suppliers involved in the transaction are Fluor Corporation, Lummus Technology, Univation Technologies LLC, Bechtel, and ConocoPhillips.

Located on the Gulf of Kutch, the Jamnagar complex oversees the largest single-location refinery operation in the world. Reliance intends to increase the complex's petrochemical output by constructing a petcoke gasification unit that will top the world's rosters in size and significantly enhance the efficiency of the company's refinery business. Reliance also plans to erect a refinery off- gas cracker with matching downstream units that will better integrate polymer and polyester production.

Reliance is India's largest private sector company, and its operations range from oil and gas exploration and production to refining and petrochemicals. The company ranked 99th in revenues and 130th in profits in 2012, according to Fortune's Global 500 list of 'World's Largest Corporations' and 'World's Top 100 companies.'

As of the end of FY 2012, Ex-Im Bank credit exposure in India totaled USD6.5 billion.

AkzoNobel to strengthen its position in the Middle East

(hydrocarbonprocessing) -- AkzoNobel has underlined its growth ambitions for the Middle East after signing an expanded joint venture agreement with the Yusuf Bin Ahmed Kanoo group of companies, the company said on Friday.

The new deal strengthens the existing joint venture between AkzoNobel and Kanoo, which only covered the supply of the company's International Paint brand, along with coil and packaging coatings.

Under the terms of the new expanded agreement, AkzoNobel will offer products from across its performance coatings portfolio, including professional woodcare, automotive refinish, marine, yacht, fire protection, protective and powder coatings.

We remind that the company also plans to expand production of corrosion-resistant coatings for the aerospace industry in Turkey by absorbing smaller enterprises, as MRC reported ealier. The company is going to double its annual sales in the country up to EUR300 million during the next five years, producing annually 160 thousand tonnes of coatings.