Shell to spend USD115 million on pollution control

MOSCOW (MRC) --Shell Oil has agreed to spend at least USD115 million to cut harmful pollution at a Houston-area refinery, according to MTVA.

The oil giant will also pay a USD2.6 million civil penalty under the settlement announced Wednesday. Shell settled with the US Environmental Protection Agency and the Department of Justice after it was accused of violating the federal Clean Air Act.

Shell will install a USD1 million system to monitor cancer-causing benzene levels along the fence line of its Deer Park facility. The data will be publicly available on a website.

It will also spend USD100 million on technology to reduce air pollution from flares used to burn waste gases.

The EPA says in a statement the new technologies will significantly reduce harmful air pollution and greenhouse gas emissions.

We remind that, as MRC wrote previously, earlier this year Shell PLC had announced it plans to sell its only oil refinery in Australia, as the local industry struggles to compete with low-cost operators in Asia.

Royal Dutch Shell plc is an Anglo-Dutch multinational oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the biggest company in the world in terms of revenue and one of the six oil and gas "supermajors". Shell is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation and trading.
MRC

MOSCOW (MRC) -- Petrobras has signed two financing programs with the Japan Bank for International Cooperation - JBIC for the offer of two lines of credit amounting to USS 1.5 billion, reported the company on its site.

Mizuho Bank, Ltd. is the agent bank for these programs and the lines of credit will be 60% financed by JBIC and 40% by private Japanese financial institutions, which are insured by Nippon Export and Investment Insurance (NEXI).

The lines of credit are for Petrobras to purchase equipment and services from Japanese companies in Brazil and abroad, based on the memorandum of understanding signed in October 2012, when a strategic partnership between JBIC and Petrobras was established.

Petrobras and Japan Bank for International Cooperation has built up a close cooperative relationship over many years, with a number of joint operations already implemented. The two financing programs taken out represent vast funding possibilities for these entities, offering new ways of financing, and will further strengthen the relationship between the parties.

We remind that, as MRC wrote previously, Petrobras kept its five-year investment plan flat for the first time in years. The company's new investment plan is a relief to those investors who'd feared another increase. Petrobras has one of the largest investment budgets of any firm in the world at USD236.7 billion for the next five years, as it seeks to develop some of the biggest oil discoveries the world has found in decades. But its ambitions have weighed heavily on its share price in recent years, as production increases have failed to materialize and some projects have been mired by delays and cost overruns.

Petroleo Brasileiro S.A. or Petrobras is a semi-public Brazilian multinational energy corporation headquartered in Rio de Janeiro, Brazil. It is the largest company in the Southern Hemisphere by market capitalization and the largest in Latin America measured by 2011 revenues.
MRC

MOSCOW (MRC) -- Styron, the global materials company and manufacturer of plastics, latex and rubber, has announced the appointment of David Stasse as Vice President and Treasurer of Styron effective July 29, 2013, according to the company's press release.

He will be a member of the Styron Leadership Team.

Stasse joins Styron from Freescale Semiconductor Inc., a global leader in embedded processing solutions, providing industry leading products that are advancing the automotive, consumer, industrial and networking markets, where he served as Vice President and Treasurer since 2008 and previously Assistant Treasurer from 2006.

Stasse previously served as First Vice President, Debt Capital Markets, at MBNA Corporation and as Treasury Manager of SPX Corporation. He held numerous financial leadership positions from 1998 to 2004 at Honeywell International, last serving as Director of Corporate Finance. Stasse previously held Logistics Analyst positions at both Bose Corporation and H. Muehlstein & Co. early in his career.

"We are extremely pleased to name a Treasurer with David’s senior strategic experience within complex global organizations," said John Feenan, Executive Vice President and Chief Financial Officer of Styron. "His extensive experience with capital structure, liability management, cash management, investments, insurance and financial planning will take our Treasury organization to the next level."

We remind that, as MRC informed previously, Styron offers a complete portfolio of acrylonitrile butadiene styrene products under the MAGNUM ABS Resins brand name. Most recently Styron’s global ABS business has expanded to include non-automotive sectors as consumers seek a premium appearance in items such as equipment housings for medical devices, cabinetry for consumer electronics and home furnishings, opaque sheet and furniture.

Styron is a leading global materials company and manufacturer of plastics, latex and rubber, dedicated to collaborating with customers to deliver innovative and sustainable solutions. Styron’s technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Styron had approximately USD 5.5 billion in revenue in 2012, with 20 manufacturing sites around the world.
MRC

MOSCOW (MRC) -- KBR has been selected by Togliattiazot Corp. (ToAZ) to perform revamp studies for seven ammonia plants located in Togliatti, Russia, said Hydrocarbonprocessing.

The ToAZ revamp project will be the world’s largest upgrade of an ammonia complex, with the seven plants located at the same site.

During the initial phase, KBR will evaluate plant operations to identify bottlenecks, define technical and commercial requirements, and examine process schemes prior to licensing KBR technology.

KBR’s conventional and revamp technologies are known in the industry to boost operational efficiencies, on-stream reliability and total ammonia production.

"KBR is proud to be selected by ToAZ for this revamp study," said John Derbyshire, president of KBR Technology.

"Helping our clients achieve greater production capacities with no lost shutdown time is one of our core competencies and will continue to be an area of significant growth worldwide," he added.

As MRC wrote before, KBR was selected by Total to utilize its ROSE solvent de-asphalting technology for use at Totals Antwerp refinery in Belgium. The ROSE unit is expected to significantly enhance the profitability of the refinery and is expected to come on stream in early 2016, according to company officials.

KBR, Inc. is an American engineering, construction, and private military contracting company, formerly a subsidiary of Halliburton, headquartered in Houston.
MRC

MOSCOW (MRC) -- DSM signs distribution agreements for Engineering Plastics B.V. with Nevicolor and Nexeo Solutions to strengthen its presence in Italy, said the producer in its press-release.

DSM has entered into new agreements with two distributors for its Engineering Plastics portfolio in Italy to improve its coverage across the entire country. The move means that Italian customers (like DSM customers in other European countries) will now have a choice of distributors for their thermoplastics. The agreements with Nevicolor and Nexeo Solutions apply to the full range of DSM’s engineering Plastics products.

Nevicolor is a growing family-owned distributor based in Luzzara, not far from Parma, which previously distributed DSM products only in the Emilia-Romagna region in central Italy. Nexeo Solutions is a Pan European distribution partner for DSM and covers the rest of the country (apart from Triveneto in the North-East). Nexeo’s main Italian warehouse is just outside Milan.

From now on, Nevicolor and Nexeo will both distribute in all areas of Italy, apart from Triveneto, which continues to be the responsibility of a third distributor, Arcopolimeri. With the increased covers, DSM can provide products to a larger group of customers.

The move, which is effective beginning of 2013, is in line with DSM’s strategy to deliver value for existing and new customers world-wide.

We remind that, as MRC wrote previously, DSM is going to invest about EUR100 million in three new R&D facilities in Delft and Sittard-Geleen (both in the Netherlands) over the next two years.

DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.

MRC