LUKOIL board of directors approved key indicators for 2011-2013 mid-term plan

(LUKOIL) -- The OAO LUKOIL Board of Directors approved the key indicators of the LUKOIL Group 2011-2013 Mid-term Plan and also the budget and investment program for 2011. The draft plan provides for a step-by-step alignment of the petroleum product duties and the expected rise of the petroleum-product excise tax.

The draft is also based on lower duties granted to LUKOIL in the fourth quarter 2010 for the oil produced at the Yu.Korchagin and V.Filanovsky fields in the North Caspian.

At the same time, the plan does not take into account the draft law that establishes a higher Mineral Extraction Tax for gas starting from 2011, and for oil - starting from 2012.

In the Refining & Marketing, the oil distribution pattern for 2011-2013 is based on a step-by-step alignment of duties for petroleum products and on optimization of crude supplies to the Company's refineries in Russia as its most efficient business, provided Transneft ensures maximum availability of its pipeline system for running the Company's oil, and also considering the limitations of the petroleum-product shipping infrastructure and the scheduled maintenance operations at the refineries.

MRC

(ICIS) -- A total of 4,300 substances were registered under the EU's Reach chemicals regulation by the 30 November deadline, the European Chemicals Agency (ECHA) said on Wednesday, including 900 not sold in Europe when the regulation became law.

By the first Reach registration deadline - for substances sold in the EU in volumes greater than 1,000 tonnes/year and substances of very high concern (SVHC) - 24,675 registration dossiers had been successfully submitted, it said.

Large companies made about 86% of the registrations and small to medium sized firms 14%. About 19% of registrations were made by non-EU manufacturers through only representatives'. Most registrations came from Germany, the UK, the Netherlands, France and Belgium, the ECHA said.

MRC

(Plastemart) -- Eastman Chemical Co. has completed expansion of its Benzoflex plasticizer line at the Kohtla-Jarve, Estonia, site, hiking capacity by 11,000 tons. A benzoic acid derivative, Benzoflex is a benzoate ester plasticizer used in adhesives, sealants and caulks, and is also used in PVC applications such as vinyl flooring.

"Eastman acquired the Benzoflex plasticizer product line with the acquisition of Genovique Specialties Corporation earlier this year," said Ron Lindsay, executive vice president, Performance Polymers and Chemical Intermediates.

Eastman representatives say that the additional Benzoflex capacity will allow the company to continue to meet the growing needs of customers who are looking for sustainable alternatives to traditional phthalate plasticizers.

MRC

(Plastemart) -- The Gokongwei Group seems all set to start construction of its long-overdue US$500 mln naphtha cracker project in Batangas. Project construction will start in January 2011 on the US$500 mln project. The naphtha cracker plant was originally registered with the BoI in 2005 at a project cost of P25.6 bln under JG Summit Petrochemical Corp. Based on that original registration, it was supposed to start commercial in 2008.
In May 2008, the company revised the project with a new commercial operation target of January 2012, even as project soared to P34.38 billion. It was placed under an entirely new unit - JG Summit Olefins Corp.

MRC

(Sabic) -- At Plastics Caps & Closures 2010, Saudi Basic Industries Corporation (SABIC) highlighted its innovative polypropylene (PP) and polyethylene (PE) materials and application development capabilities that can help customers achieve key goals, including enhanced sustainability, competitive advantage and a reliable source of supply.

Presented ⌠Culture of Innovation in Caps & Closures highlights SABIC solutions that address key industry trends: creation of more environmentally responsible products; the growing division between commodity and value-added closures, and volatility in raw material markets.

To provide customers a single source for materials and expertise, the company continues to develop new PP and PE materials that improve performance, enhance sustainability and reduce system costs in applications ranging from healthcare to specialty and high-volume packaging. For example, SABIC HDPE organo grades for still water caps utilize high-efficiency slurry technology to help reduce off-flavors while offering a reduced carbon footprint of up to 17 percent vs. gas phase technology.


SABIC PP QRYSTAL clarified PP random copolymers for crystal-clear overcaps and airless closures enable lower processing temperatures that reduce energy by up to 15 percent, cutting costs and emissions.

MRC