Shaoxing Sanyuan to shut down its PP plant in China

MOSCOW (MRC) -- Shaoxing Sanyuan Petrochemical is in plans to shut a polypropylene (PP) plant for maintenance turnaround, reported Apic-online.

A Polymerupdate source in China informed that the plant is planned to be taken off-stream on November 20, 2013. It is likely to remain off-stream for around one month.

Located in Shaoxing, Zhejiang province, the plant has a production capacity of 200,000 mt/year.

As MRC wrote previously, another Chinese petrochemical producer Shenhua Ningxia Coal Industry Group shut its polypropylene (PP) plant for a maintainence turnaround on October 27, 2013. The palnt is expected to remain shut for around 10 days. Located at Yinchuan city, Ningxia in China, the PP plant has a production capacity of 500,000 mt/year.
MRC

MOSCOW (MRC) -- Unipetrol (part of PKN Orlen) has signed a share purchase agreement with Shell Overseas Investments B.V. for Shell's 16.335% shareholding in Ceska Rafinerska, a.s. with the acquisition price for the shares in the amount of USD27.2 million, according to the company's statement.

Unipetrol currently owns 51.22% of the Ceska Rafinerska's share capital. After completion of the Transaction expected at the beginning of 2014 Unipetrol shareholding interest will increase to 67.555% of the share capital.

"I am confident that the transaction further confirms our main strategic objective to ensure Unipetrol's long-term growth. It also strengthens our long-term presence on the Czech market," said Marek Switajewski, Unipetrol's CEO. "Moreover the transaction brings Unipetrol the Qualified majority of votes in Ceska Rafinerska with 67.5% threshold, allowing significant improvement of the company's operational management and bringing operational costs savings. The acquisition of Shell's shares at the same time improves feedstock security for petrochemical segment development," added Switajewski.

The acquisition of the shares further supports one of the main strategic targets of the announced Unipetrol Group Strategy 2013-2017 - further integration of the refining and petrochemical segments. This integration will facilitate maximum supply to internal captive demand for petrochemical and retail segments.

As MRC reported previously, in early October Unipetrol signed a license agreement with INEOS, based on which it acquired the right to use a production process and technology for the new polyethylene unit (PE3). Purchase of the license is the first achieved milestone and represents the official start of the project's execution. Now Unipetrol is ready to take further steps and create a detailed schedule of this project. The first task is to choose a general contractor, which should be done in the first half of 2014.

Ceska Rafinerska, a.s. operates refineries in Litvinov and Kralupy, currently the only two running refineries in the Czech Republic, with a total conversion capacity of 8.7 million tons of crude oil per year. The company is a joint venture (JV) of three shareholders as of 7 November 2013: UNIPETROL, a.s. 51.22%, ENI International B.V. 32.445% and Shell Overseas Investments B.V. 16.335%. It was established in 1995 and started operating in the processing mode with no sales activities in 2003.

Unipetrol, a.s. is a group of companies operating in the petrochemical industry in the Czech Republic. In 2005 Unipetrol became a part of the PKN ORLEN Group, the largest oil processor in Central Europe. The UNIPETROL Group is oriented mostly towards oil processing, fuel distribution and petrochemical production.
MRC

MOSCOW (MRC) -- PolyOne Corporation, a premier provider of specialized polymer materials, services and solutions, has announced that it has hired Bradley C. Richardson as executive vice president and chief financial officer, according to the company's press release.

Mr. Richardson joins PolyOne with more than 30 years of experience in global management and financial leadership positions at petrochemical and manufacturing companies.

For the past four years, Mr. Richardson served as executive vice president and CFO of Diebold, Incorporated, a USD3-billion global provider of financial self-service and security solutions, where he was responsible for the global finance, information technology and legal departments. Prior to Diebold, he served as executive vice president and CFO of Modine Manufacturing Company.

Mr. Richardson began his career at Amoco Corporation, where he ascended in roles of increasing responsibility over a 21-year period, including leadership assignments throughout North America, as well as in Caracas, Venezuela and London, U.K.

As CFO for PolyOne, Mr. Richardson will have accountability for global treasury, financial reporting, planning and analysis, mergers and acquisitions, and internal controls, as well as investor relations. He succeeds Richard J. Diemer, Jr., who is leaving the company to pursue other opportunities.

As MRC reported earlier, PolyOne Corporation announced in mid-summer it will realign its North American manufacturing assets. Over the next several months, the company will close six manufacturing plants and relocate production to other PolyOne facilities. These actions are expected to be completed by the end of 2014 and generate annualized pre-tax savings of approximately USD25 million in 2015.

PolyOne Corporation is a global provider of specialized polymer materials, services, and solutions. PolyOne is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, polymer distribution and specialty vinyl resins. The company's full-year revenues in 2012 increased 4.5% to USD3.0 billion, compared to USD2.9 billion in 2011.
MRC

MOSCOW (MRC) -- Effective January 1, 2014, Arnaud Breuillac is appointed President, Exploration & Production at Total, reported the company on its site.

He will report to Yves Louis Darricarrere, Upstream President and member of Total’s Executive Committee, Effective October 1, 2014, Mr. Breuillac will join Total's Executive Committee, alongside Christophe de Margerie, Philippe Boisseau, Yves-Louis Darricarrere, Jean-Jacques Guilbaud, Patrick de La Chevardiere and Patrick Pouyanne.

Arnaud Breuillac is a graduate of French engineering school Ecole Centrale de Lyon. He joined Total in 1982.

He has held various positions in Exploration & Production in France, Abu Dhabi, the United Kingdom, Indonesia and Angola and in Refining in France.

Between 2004 and 2006, he served as Vice President, Iran, in the Middle East Divison. In December 2006, he was appointed to Exploration & Production’s Management Committee in his position as Senior Vice President, Continental Europe and Central Asia. On July 1, 2010, he was appointed Senior Vice President, Middle East in Exploration & Production. On January 1, 2011, he was appointed to Total’s Management Committee.

As MRC informed before, Total, Europe’s third-largest oil company, intends to invest EUR160m before 2016 to adapt its petrochemical platform in Carling, in the Lorraine region of eastern France, and to restore its competitiveness. Total plans indeed to develop new activities on the platform in the growing markets for hydrocarbon resins (Cray Valley) and for polymers, while shutting down the acutely loss-making steam cracker in the second half of 2015.

Total S.A. is a French multinational oil and gas company and one of the six "Supermajor" oil companies in the world with business in Europe, the United States, the Middle East and Asia. The company's petrochemical products cover two main groups: base chemicals and the consumer polymers (polyethylene, polypropylene and polystyrene) that are derived from them.
MRC

MOSCOW (MRC) -- Exports of Ukrainian titanium dioxide (rutile form) in the first nine months of 2013 dropped by 5% year on year and totalled about 100,000 tonnes, according to MRC DataScope report.

Sumykhimprom accounted for the greatest decrease in exports. Exports of Sumykhimprom's titanium dioxide fell by 15.6% in January-September 2013 to 4,800 tonnes. Exports of Crimean Titan remained at the last year's level and amounted to 74,700 tonnes (75,200 tonnes last year).

Crimea TiOx-230 produced by Crimean Titan was the best selling grade in foreign markets. Exports of this grade totalled 27,800 tonnes in January-September 2013.

Exports of pigments, containing TiO2, fell by 1% during the said period to 960 tonnes.
MRC