ExxonMobil commenced startup operations at Singapore petrochemical plants

MOSCOW (MRC) -- ExxonMobil has started operations at one of the world's largest ethylene steam crackers, the centerpiece of the company's multi-billion dollar expansion project at its Singapore petrochemical complex, according to hydrocarbonprocessing.

A new 220-megawatt cogeneration plant joins with the existing 140-megawatt cogeneration facility to power ExxonMobil's expanded Singapore petrochemical complex. Cogeneration is significantly more efficient than producing steam and power separately and reduces greenhouse gas emissions, according to the company.

The expansion adds 2.6 million tpy of new finished product capacity. It includes two new polyethylene (PE) plants, a polypropylene (PP) plant, a metallocene elastomers unit, an oxo-alcohol unit and an aromatics expansion, all of which are completed and beginning operation. Ethylene production is expected to start in the next few months.

The expansion makes the Singapore facility ExxonMobil's largest refining and petrochemical complex. It also marks the first production by ExxonMobil of its proprietary specialty elastomers and metallocene-based polyethylene in the Asia Pacific region.

As MRC reported earlier, in October 2012, Exxon Mobil announced its plans to increase its petrochemical manufacturing output through the expansion of its Baton Rouge and Port Allen plants in Louisiana.

ExxonMobil is the largest non-government owned company in the energy industry and produces about 3 percent of the world's oil and about 2 percent of the world's energy.
MRC

MOSCOW (MRC) -- Brazilian multinational oil and energy company Petrobras on January 1st processed its largest volume of oil in a single day, according to the company's statement. The company's production reached 2.111 million barrels, reported Brazil-Arab News Agency.

The previous record was breaken on August 12 and made 10,000 barrels less than the present amount. According to Petrobras, the volume was reached without compromising the trustworthiness of installations and without risks to safety and to the environment.

As MRC reported earlier, Petrobras plans to launch the first of its new refineries in November 2014. The second line will be put in operation in May 2015. The refinery will add 230,000 bpd of processing capacity.
MRC

MOSCOW (MRC) -- A major PVC producer in Southern Europe, KEM ONE, has recently announced an increase of production capacity of its PVC emulsion unit at its Hernani site in Spain, according to the company's press release.

The extension will make 7,000 tonnes per year of PVC emulsion up to 42,000 tonnes. With this move KEM ONE shows its intention to further develop its strategic specialties business.

Bertrand Jausseme, Kem One's Marketing and Sales Director, said that this expansion would help the company to strengthen its presence in Europe and emerging markets.

When the facility becomes fully operational in 2013 after the extension, KEM ONE's total production volume of PVC emulsion will amount to 112,000 tonnes at its two sites of Saint-Auban, France, and Hernani, Spain.

As part of company's strategy to expand its influence in the European market, KEM ONE is likely to increase its presence in the Russian market. According to MRC DataScope report, over the eleven months of 2012, KEM ONE supplied about 800 tonnes of emulsion PVC to Russia under the brand name of Lacovyl, down 30% from the index of 2011. This was less than 1% of Russia's imports of emulsion PVC last year.

A newly formed company from Arkema’s vinyl products division, KEM ONE, is fully integrated in the vinyl sector. The company will continue its development within the Klesch Group, a leading European operator of industrial and commodity-related businesses. Kem One is Europe’s third-largest producer of PVC with revenues in excess of one billion euros, which already possesses numerous strengths for growing and becoming the integrated vinyl solutions leader in southern Europe and the Mediterranean basin.
MRC

MOSCOW (MRC) -- In a move to preserve its public interest, Egypt has lifted anti-dumping fees on polypropylene (PP) imports from Saudi Arabia after a prior investigation of the matter, Saudi Arabia's deputy oil minister Prince Abdul-Aziz bin Salman said in remarks published Tuesday, according to hydrocarbonprocessing.

The investigation on protective measures and anti-dumping fees imposed on Saudi imports due to claims that they are damaging its industry has been conducting by Egypt since April, Prince Salman said, according to state-run Saudi Press Agency, or SPA. The results of the investigation showed that the damage was caused by other factors and that the measures against Saudi imports were not in interest of the Egyptian public.

The fees were imposed on several Saudi petrochemical makers such as Saudi Basic Industries Corp. (Sabic), the world's largest petrochemical maker, Rabigh Refining and Petrochemical Co. and National Industrialization Co.

Early last year, Turkey ended its anti-dumping claims on monoethylene glycol imports from Sabic after it confirmed that the firm was complying with all the regulations. The move came after India scrapped an anti-dumping duty on polypropylene exports from the Middle East's largest listed company.

As MRC informed earlier, the Egyptian government implemented a protection fee of 15% on all homo-PP imports effective for 200 days from June 5 to December 22, 2012. Egyptian PP producer "Egyptian Propylene and Polypropylene Co" (EPPC) pointed to strong competition from lower priced import cargoes as support for the new measures, but buyers have expressed anger regarding the new protection measures, which they feel to be unjustified. However, in early October the Egyptian government froze the 15% import duty on PP from the Gulf (GCC) for an indefinite period. The government took this decision after the closure of the plant of EPPC, the main provider of local PP for Egyptian converters.
MRC

MOSCOW (MRC) -- Onex Corporation announced that it completed the acquisition of KraussMaffei Group, a leading manufacturer of plastic and rubber processing equipment, for EUR568 million, said Onex in its statement.

Onex Partners III invested USD353 million, of which Onex’ share is approximately USD89 million as a limited partner in the Fund.

Onex also recently completed acquisitions of San Fransisco’s BBAM LLC and New York’s USI Insurance Services Inc.

Onex Corporation is a Toronto based private equity investment firm and holding company. The Company has approximately USD14 billion of assets under management, including USD4.8 billion of proprietary capital, in private equity, credit securities and real estate. Onex invests its proprietary capital directly and as a substantial limited partner in its Funds.

The KraussMaffei Group is a global leader in the plastics and rubber processing industries. The company covers all areas of injection molding machinery, extrusion technology and reaction process machinery, which gives it a unique selling point in the industry.

Through its KraussMaffei, KraussMaffei Berstorff and Netstal brands, the company serves customers in many sectors including the automotive, packaging, medical and construction industries.
MRC