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MOSCOW (MRC) -- State-run Bharat Petroleum Corp. Ltd (BPCL) plans to set up a petrochemicals unit at its Bina refinery in Madhya Pradesh as part of its Rs25,000 crore expansion plan for the refinery, as per Plastemart.
The petrochemical unit, which will include a 1.5 mln tpa naphtha cracker, is expected to cost Rs6,000-7,000 crore.
"The investments could be made through a special purpose vehicle or issue of warrants. We are continuously evaluating the model to be followed here," said one of the two officials cited above on condition of anonymity.
Bharat Oman Refineries Ltd, a joint venture of BPCL and Oman Oil Co., runs the Bina refinery. While BPCL holds 49% in the venture, Oman Oil owns 26%. Financial institutions own the remaining 25%. BPCL did not respond to an emailed questionnaire sent on 25 January seeking comments.
BPCL is also expanding refining capacity at its Kochi refinery from to 15.5 mtpa from 9.5 mtpa for an investment of Rs16,000 crore. It will also build a Rs 5,000 crore petrochemical plant in Kochi.
When completed, it will facilitate production of 500,000 tonnes per annum of propylene, which is in addition to fuels like cooking gas, diesel, kerosene, jet fuel, coke and bitumen. The expansion would be complete by March.
Last April, the government approved BPCL’s investment of Rs3,000 crore in Bharat Oman Refineries for the first phase of expansion.
As MRC informed before, in January 2016, (BPCL) has selected Air Liquide Global E&C Solutions, the engineering and construction unit of French firm Air Liquide group, for supplying Lurgi/Nippon Kayaku ester grade acrylic acid technology for BPCL’s propylene derivatives petrochemical project (PDPP) located in Kochi, Kerala.
Bharat Petroleum Corporation Limited (BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, India. Bharat Petroleum owns refineries at Mumbai, Maharashtra and Kochi, Kerala (Kochi Refineries) with a capacity of 12 and 9.5 million metric tonnes per year.
Bharat Petroleum mulls naphtha cracker in Bina
Import of PC and PC compounds grew more than twofold in Russia in January
Imports of PC granules were 600 tonnes in January or 66% from the month's total imports. Export from Russia in January increased by 53% and amounted to 3,800 tonnes compared to 2,500 tonnes in the same period last year.
The structure of PC granules during the reported period was as follows.
Imports of injection moulding grades of general purpose PC granules were 420 tonnes or 69% from the total imports.
Imports of optical injection moulding grades PC in Russia were 100 tonnes in January or 17% from the total imports volume.
The rest of the volume of PC granules imports accounted for the grades for blowmoulding and extrusion.
Overall Sabic's shipments to Russia in January totalled 360 tonnes, Covestro's deliveries were 240 tonnes and Samyang's shipments - 80 tonnes.
Last year's imports of PC granules and compounds to Russia totalled 11,500 tonnes, down by 54% year on year.
MRC
AkzoNobel invests EUR12.6 million in new innovation hub in the UK
MOSCOW (MRC) -- More than 100 of the coatings industry’s leading scientists are being brought together by AkzoNobel in a new EUR12.6 million research and innovation hub which could revolutionize the company’s portfolio, said the producer on its site.
Located in Felling in the UK, the facility will be home to teams of scientists and technical experts who will work on developing protective coatings for the energy, mining, infrastructure and oil and gas industries. The main focus will be on delivering cutting edge innovations and efficiencies for protecting steel and concrete structures from damage caused by corrosion, abrasion and fire.
The new innovation hub will also offer a world class testing and simulation facility, enabling tests to be carried out in conditions experienced in the world’s most extreme environments.
The facility is expected to be operational at the end of 2018. "Our work at the state-of-the-art lab will have an important impact on our most critical industries,” said Conrad Keijzer, AkzoNobel’s Executive Committee member responsible for Performance Coatings. “More than 100 top scientists and technical experts will be working on future solutions that will offer essential protection to a wide variety of products for our customers."
Added Greg Clark, UK Secretary of State for Business: "Having grown up in the north east of England, I am very aware of the strengths of the chemical sector in the region. AkzoNobel’s significant investment in establishing a new technical innovation hub is further proof that Britain is open for business and underlines the growth we want to see and support in our local economies. As we develop our industrial strategy, we are determined to build on the diverse strengths of all of Britain’s cities and regions."
MRC
Ras Laffan Refinery 2 to focus on jet fuel
MOSCOW (MRC) -- Jet fuel will be the most widely used product from Qatar's Ras Laffan Refinery 2 and a pipeline connecting it to Doha's Hamad International Airport is expected to be completed by next year, said Reuters, citing Qatar Petroleum chief executive Saad al-Kaabi.
Kaabi was speaking to reporters. The condensate refinery, in which Qatar Petroleum, France's Total and Japan's Marubeni Corp, Idemitsu Kosan, Cosmo Energy and Mitsui & Co hold stakes, began production towards the end of last year.
The refinery has a total processing capacity of 146,000 bpd and makes products such as jet-A1, naphtha and ultra low-sulfur diesel, according to Marubeni.
As MRC informed before, Qatargas plnned to start operations at its new Ras Laffan 2 condensate splitter by the end of October 2016, doubling the Gulf state's capacity to process condensate.
MRC
Lotte Chemical Titan plans to start construction of naphtha cracker in Indonesia next year
MOSCOW (MRC) -- Lotte Chemical Titan, a local petrochemical unit of South Korean conglomerate Lotte Group, plans to start construction of a USD4 bln naphtha cracker plant in Indonesia next year, as per Plastemart with reference to jakartaglobe.com.
The project, which has been delayed for three years due to land acquisition problems, will help Indonesia reduce expensive chemical imports, Industry Minister Airlangga Hartarto said.
The company plans to complete the front-end engineering design this year and start construction next year. The plant will have a capacity to produce 1 million tons of ethylene and 600,000 tons of propylene annually.
The facility will be located close to another that is owned by Chandra Asri Petrochemical - controlled by Indonesian tycoon Prajogo Pangestu's Barito Pacific and SCG Chemicals - which is currently being expanded to double its annual production capacity to 2 million tons of ethylene.
As MRC wrote previously, sround 40% of the total investment needed for the new plant would be taken from the company’s internal cash, while the rest would be from bank loans.
The Lotte Group currently has a presence in Indonesia via its subsidiary, Honam Petrochemicals, which acquired Malaysia’s polyolefin major Titan Chemicals in July 2010. Included in the acquisition was Titan’s Indonesian subsidiary - PT Titan Petrokimia Nusantara (TPN), which has a polyethylene (PE) production capacity of 450,000 tonnes/year.
MRC