MOSCOW (MRC) -- Formosa Petrochemical Corp (FPCC) is likely to shut a residual fluid catalytic cracker (RFCC) in March, as per Apic-online.
A Polymerupdate source in Taiwan informed that the RFCC unit is planned to be taken offstream in March 2015. The unit will be taken offstream on March 11, 2015 and will remain shut till the end of March.
Located in Mailiao, Taiwan, the RFCC unit has a propylene production capacity of 375,000 mt/yr.
As MRC informed before, in August 2014, The US Environmental Protection Agency (EPA) has recently issued three final GHG Prevention of Significant Deterioration construction permits for the Formosa Plastics facility in Point Comfort, Texas. Formosa is expanding its chemical complex, located near Victoria, and taking three actions with its turbines unit, olefins unit and low-density polyethylene (LDPE) unit.
Formosa Petrochemical is involved primarily in the business of refining crude oil, selling refined petroleum products and producing and selling olefins (including ethylene, propylene, butadiene and BTX) from its naphtha cracking operations. Formosa Petrochemical is also the largest olefins producer in Taiwan and its olefins products are mostly sold to companies within the Formosa Group. Among the company's chemical products are paraxylene (PX), phenyl ethylene, acetone and pure terephthalic acid (PTA). The company's plastic products include acrylonitrile butadiene styrene (ABS) resins, polystyrene (PS), polypropylene (PP) and panlite (PC).
MRC
MOSCOW (MRC) -- The board of directors at TPC Group, a leading provider of C4 based products and services, has approved funds for the front-end engineering and design (FEED) to finalize the design and cost estimate to install a third polyisobutylene (PIB) production unit, as per Hydrocarbonprocessing.
This project is targeted to satisfy future industry growth, mainly resulting from anticipated changes in fuel and lubricant additive standards beginning in the second half of 2017.
These higher standards are driving substantial growth in demand for highly-reactive polyisobutylene, which TPC Group manufactures using its proprietary process.
TPC says it is in discussions with customers regarding definitive off-take commitments for its third line.
In parallel with its third production unit engineering work, TPC continues to debottleneck its PIB capacity. Capacity has increased more than 20% since 2012 with significant progress made in 2014, according to company officials.
Additional debottlenecking efforts are continuing in 2015. This debottlenecking effort is targeted to supply the current and near-term needs of customers in the lubricant additives, sealants, adhesives and industrial lubricants segments.
TPC Group first entered the PIB industry in May 2000 with the startup of its patented process to produce a wide range of PIB products.
As MRC informed earlier, in summer 2014, PC Group and Honeywell's UOP entered into an agreement for UOP to be the exclusive licensor of the proprietary TPC Group OXO-D technology used to produce on-purpose butadiene, a key ingredient for making synthetic rubber.
TPC Group Inc. is a leading producer of value-added products derived from niche petrochemical raw materials such as C4 hydrocarbons, and provider of critical infrastructure and logistics services along the Gulf Coast region. TPC Group sells its products into a wide range of performance, specialty and intermediate markets, including synthetic rubber, fuels, lubricant additives, plastics and surfactants.
MRC
MOSCOW (MRC) -- Total SA, Europe’s third-largest oil company, on Thursday became the latest casualty of the oil-price swoon, reporting a USD5.66 billion net loss for the latest financial quarter and promising to shed billions more in cost savings, including 2,000 layoffs by 2017, reported WSJ.
The company swung to a net loss for the three months to the end of December from a net profit of USD2.23 billion in the same quarter the previous year. Total wrote off USD6.5 billion of the value of its less profitable shale and oil-sands ventures, as well as its unprofitable European refineries.
Total said that it intends to become profitable at an oil price of USD70 a barrel.
Total Chief Executive Patrick Pouyanne said Thursday that the restructuring plan shows the company’s determination to come to grips with the shift in oil markets.
Mr. Pouyanne, who was holding his first corporate news conference as CEO since he succeeded the late Christophe de Margerie , insisted that he wasn't overreacting to the situation.
"We don't gamble at the casino. We need a company that resists whatever the barrel price is," he said at a news conference.
With new projects coming on stream, the company expects to raise its output by more than 8% in 2015 from 2.15 million barrels of oil equivalent in 2014.
As MRC wrote previously, in January 2014, Total called on peers to revise projects that require tens of billions of dollars of investment as costs escalate.
But Total 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.
Besides, in November 2014, Total unveiled its plans to permanently shut its high density polyethylene (HDPE) line with the capacity of 70,000 mt/year in Belgium.
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.
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