Technip and FMC Technologies announce conclusion of US antitrust review

MOSCOW (MRC) -- Technip announced that the pending merger transaction between the companies has received an early decision from the United States antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), concluding antitrust review of the transaction in the U.S. under the HSR Act, said the company on its site.

As previously announced on May 19, 2016, Technip and FMC Technologies will combine to create a global leader that will drive change by redefining the production and transformation of oil and gas. On June 16, 2016, the companies announced that they had executed a Business Combination Agreement regarding their proposed merger.

Conclusion of antitrust review in the United States under the HSR Act satisfies one of the closing conditions of the pending transaction, which remains subject to other closing conditions, including approval of Technip and FMC Technologies shareholders, the conclusion of antitrust review in other countries, other regulatory approvals and consents, as well as other customary closing conditions. The transaction is expected to close early in 2017, subject to the satisfaction of these other closing conditions.

Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 37,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges. Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.

MRC

Petrochemical hubs planned around 22 refineries in India

MOSCOW (MRC) -- The government plans to set up petrochemical complexes around all the 22 refineries in India to help generate one crore jobs, as per Plastemart.

"The government has decided to establish petrochemical hubs in and around all 22 refineries," Union Chemicals and Fertilisers Minister Ananth Kumar said at a seminar, adding that "This will result in savings as cluster approach can reduce costs. The projects need not be confined only to greenfield projects but also cover brownfield projects already running at various places."

The minister also urged the chemical industry "not to just rely on government incentives but become competitive" in feed stock, procurement of natural gas and production of end-products, towards doubling the sector’s growth to USD400 bln by 2021. "The government is a facilitator. We are here to support you. Please don’t just rely on incentives. That will be there. Become more competitive," he said.

We remind that, as MRC informed previously, in January 2016, state-run Hindustan Petroleum Corp. Ltd. (HPCL) received environmental clearance from Indian officials to expand its Visakhapatnam refinery in Andhra Pradesh from 8.33 MMtpy to 15.0 MMtpy. India's Expert Appraisal Committee (EAC), under the Ministry of Environment and Forests, approved the 18,400-crore expansion plan which was earlier rejected in 2013, citing a moratorium on industrial expansion in some of parts of Visakhapatnam. HPCL's expansion plans were not allowed to advance for the past several years due to environmental issues.
MRC

Imperial oil reports fire at Ontario refinery

MOSCOW (MRC) -- Imperial Oil notified local emergency officials of a fire on Monday at its 121-Mbpd refinery in Sarnia, Ontario, according to the city's fire department, said Reuters.

The fire started in a refinery sub station, according to a source familiar with the plant's operations. The potential impact to production is not currently known, the source said.

The company classified the fire as a "code 8," which means they are notifying local emergency officials but not requesting additional support, the fire department said.

Most, if not all, refineries maintain an in-house fire department.

Imperial Oil Limited is a Canadian petroleum company.It is Canada's second-biggest integrated oil company. Exxon Mobil Corp. had a 69.6 percent ownership stake in the company as of December 31, 2012. It is a significant producer of crude oil, diluted bitumen and natural gas, Canada’s major petroleum refiner, a key petrochemical producer and a national marketer with coast-to-coast supply and retail networks.
MRC

Petronas receives the tallest, heaviest fractionator process column in Pengerang

MOSCOW (MRC) -- Petronas has received the tallest and heaviest propylene fractionator process column for the steam cracker facility located within its Pengerang Integrated Complex (PIC) in Pengerang, Johor, reported Plastemart.

The arrival has set a new record as the tallest and heaviest process column to have ever landed on Malaysia’s shores. The process column measures 121.3 metre high and weighs 1,808.6 tons . This is as tall as a building of about 37 storeys, and similar in weight as a fully-fuelled A380 Airbus and a Boeing 747 airplane combined. The process column travelled 8 days aboard the Jumbo Maritime-operated vessel MV Fairmaster, from the Hyundai Mipo Dockyard in South Korea, before arriving at the Material Offloading Facility (MOLF) port in Tanjung Setapa, Johor.

“I am proud to announce that our propylene fractionator has been recognised by the Malaysia Book of Records as the tallest and heaviest process column in Malaysia,” said Petronas Senior Vice-President and Chief Executive Officer of Petronas Refinery and Petrochemical Corporation Sdn Bhd (PRPC), Ir Dr Colin Wong Hee Huing.

PIC is a mega-scale, high-complexity development consisting of 23 process plants for refinery, steam cracker, petrochemicals and associate facilities. The project is entering the construction phase and is progressing as scheduled. The vessel also carried a smaller-scale propylene fractionator and an ethylene fractionator. All three process columns are part of the main structures for PIC’s steam cracker complex, to be constructed by a consortium of Toyo Engineering Corporation and Toyo Engineering & Construction Sdn Bhd.

As MRC informed before, Petronas is seeking to raise USD7.2 bln (RM29.5 bln) for its Refinery and Petrochemical Integrated Development (Rapid) project in one of the largest project financings from Asia in recent years. The state-owned oil company has asked banks for underwriting commitments of at least USD500 mln (RM2 bln). The project in the southern state of Johor is set to be Malaysia’s largest liquid-based green-field downstream development. It will consist of a 300,000-bpd refinery and petrochemical complex, with a combined chemical output capacity of 7.7 mln tpa.

Petronas, short for Petroliam Nasional Berhad, is a Malaysian oil and gas company wholly owned by the Government of Malaysia. The Group is engaged in a wide spectrum of petroleum activities, including upstream exploration and production of oil and gas to downstream oil refining; marketing and distribution of petroleum products; trading; gas processing and liquefaction; gas transmission pipeline network operations; marketing of liquefied natural gas; petrochemical manufacturing and marketing; shipping; automotive engineering; and property investment.
MRC

Evonik acquires Transferra Nanosciences

MOSCOW (MRC) -- Evonik and Transferra Nanosciences, Inc., formerly known as Northern Lipids Inc., have signed an asset purchase agreement on June 21st, 2016 to acquire the business and assets of Transferra Nanosciences Inc., a biotechnology company based in Burnaby close to Vancouver (Canada). Both parties have agreed to not disclose the purchase price, said the company in its press-release.

The transaction is scheduled to close at the end of July 2016.

Transferra is a Contract Development and Manufacturing Organization (CDMO) that provides services as well as products to biotechnology companies engaged in the development of pharmaceutical products, using the company’s unique expertise in liposomal drug delivery systems. The acquisition allows Evonik to further expand the portfolio of its Business Line Heath Care in the area of parenteral drug delivery technologies and services.

Transferra services include prototype identification, scale-up and process development, analytical support and qualification of methods, production of test articles for toxicology studies and cGMP manufacturing of clinical trial materials. In addition Transferra offers a range of benchtop LIPEX extruders, as well as custom-built LIPEX® extruders for large scale manufacture of commercial drug products.

Evonik Health Care has recently developed into a leading provider of formulation development and GMP manufacturing services to the Pharmaceutical Industries for advanced parenteral drug depot formulations, building on the acquisition of the RESOMER portfolio of bioresorbable polymers and Surmodics Pharmaceuticals in Birmingham (Alabama, USA).

As MRC informed earlier, Evonik is conducting research into biodegradable high-strength composites, which could potentially replace metal in implants used for the internal fixation of fractured bones.

Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world.

MRC