South Korean chemicals firm Songwon opens pilot plant in Gujarat

MOSCOW (MRC) -- South Korean specialty chemicals company Songwon Industrial Co Ltd has launched its new pilot plant in Panoli (Gujarat), thereby strengthening the organisation’s overall specialty chemicals development capability, said Business-standard.

Built on Songwon’s Indian site with all the necessary main unit operations, the new plant is equipped with the most up-to-date technologies and materials for producing a wide range of chemicals for a broad spectrum of applications - from one kilo up to several hundred kilo samples. To reinforce the organisation’s position in existing areas of business and enhance its ability to enter new areas, the new pilot plant will be supported by the Songwon’s strong local R&D team in Panoli, as well as its central technology innovation center located in Maeam, Korea.

“Technology and product innovation is at the core of Songwon’s business strategy. With our high-quality manufacturing expertise and strong R&D, we have already earned a solid reputation in the industry. This new facility will play an important role in ensuring that Songwon can continue developing new industrial technologies to meet evolving market needs and make it possible for us to reliably supply customers with innovative products for testing and approval,” said Giacomo Sasselli, leader operations, Songwon.

Headquartered in Ulsan (South Korea), Songwon Industrial Co is a leader in the development, production and supply of specialty chemicals. The second largest manufacturer of polymer stabilisers worldwide, Songwon operates group companies all over the world, offering the combined benefits of a global framework and readily accessible local organisations.

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MOSCOW (MRC) — Venezuela's PDVSA and its joint ventures last month shipped 638,325 bpd of crude to the United States, a 30% increase over June due to larger sales of upgraded oil, according to Thomson Reuters trade flows data, said Hydrocarbonprocessing.

Venezuelan crude output has declined this year to its lowest point in 27 yr due to a lack of investment and payment delays to oil service firms, affecting exports to customers in key markets including the United States.

Even though the volume of crude sent to the United States in July was larger than the previous month, it was 22% below the same month in 2016. The main US receiver of Venezuelan crude last month was refiner Valero Energy, followed by PDVSA's refining unit in the United States, Citgo Petroleum.

PDVSA earlier this year signed a refinancing agreement with Russian energy giant Rosneft that has diverted more oil to that firm, and fewer volumes to Citgo.

But Citgo has requested more upgraded crude from joint ventures between PDVSA and its foreign partners in the Orinoco Belt, which has partially compensated for lower supplies from its parent company. Upgraded oils are those that have been treated at special facilities built to process extra heavy crude from Venzeuela's largest oil-producing region.

Another prominent buyer of Venezuelan crude in the United States, refining firm Phillips 66, did not receive crude supplies from PDVSA last month, according to the data.

US-based PBF Energy, Marathon Petroleum, Valero and Phillips 66 have reduced their purchases of heavy oil in recent weeks due to less barrels available from Venezuela and other OPEC producers, which is narrowing spreads between heavy Latin American crudes and lighter grades.
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MOSCOW (MRC) — US energy company Chevron Corp and trading firm Glencore on Thursday announced separate plans to enter Mexico's fuel market, as the long-hidebound sector begins to attract major foreign players, said Reuters.

Glencore expects to start importing fuel for Mexico's domestic market in February 2018 through its own terminal in the southern state of Tabasco, according to Alex Beard, the head of the firm's oil division.

"As soon as we have an opportunity to import through our own infrastructure in Tabasco, we will," Beard said at the inauguration of the first gas station branded under the franchise G500, created from a distribution partnership by Glencore and Corporacion G500, signed in May.

Chevron said in a statement it will import, distribute and sell refined products in partnership with a local gas station network it did not name. The company will shortly open its first gas station in Hermosillo, in northwest Mexico.

In subsequent weeks, Chevron expects to launch outlets in the states of Sonora, Sinaloa, Baja California and Baja California Sur, all of which are in the northwest of the country. The liberalization of retail prices in Mexico has spurred business opportunities for large refining and trading companies who want to distribute and sell imported fuels.

The entry of big players is a boost for the government as its broad energy sector opening, which carved up state monopolies in oil, gas and electricity, begins to gain momentum.

Still, Mexico's fuel sector is not without its challenges, including widespread theft by violent gangs, often working in collusion with the employees of state-oil company Pemex.
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MOSCOW (MRC) — Vietnam's crude oil imports will soar to record highs in August as the country ramps up fuel refining at a time when local crude output is dwindling, said Reuters.

August will mark the first month on record in which Vietnam is a net importer of crude oil, according to shipping data in Thomson Reuters Eikon, with the trend set to continue in coming months as the Southeast Asian nation's refinery capacity grows.

The surge in overseas orders comes as Vietnam's 200,000 bpd Nghi Son refinery, its second such facility, prepares to produce liquefied petroleum gas, gasoline, diesel, kerosene and jet fuel, mainly for the domestic market, likely starting later this year or in early 2018.

With local oil production stalling, traders said the country of over 90 MM people and 6% annual economic growth would gradually increase its crude imports.

"We expect to send bigger and more frequent volumes of crude to Vietnam in the future. Vietnam is one of the key new centers of oil demand growth, and we wouldn't want to miss this opportunity," said a senior oil trading manager. He asked not to be identified as he was not allowed to discuss trading strategies.

Shipping data in Thomson Reuters Eikon shows that Vietnam will import around 100,000 bpd of crude in August, on three tankers, versus exports of 70,000 bpd. September tanker imports are scheduled at similar levels. Vietnam's orders are still small compared with Asian's top buyers, China and India, which import around 8 MMbpd and 4 MMbpd of crude respectively.

"But in an environment of oversupply, this incremental new demand is very welcome for crude suppliers," the trading manager said.
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MOSCOW (MRC) -- Repsol will invest 5 MM euros in its Puertollano lubricants plant as part of the company’s objective to increase sales in both domestic and international markets. Production will be increased until maximum capacity is reached, said Hydrocarbonprocessing.

The lubricants plant will produce between 115,000 tpy to 170,000 tpy, within the framework of the 2017–2021 strategic plan for the lubricants business. This is Repsol’s most international business, selling in more than 80 countries.

The new strategic plan for the lubricants sector of the company aims to double the total sales volume to 300,000 t, and quadruple it abroad. The main areas of growth will be in Asia and Latin America.

Of the 147,000 t of lubricants that Repsol sold in 2016, 115,000 t (nearly 80%) was produced in Puertollano, while the rest came from company’s 10 other factories in countries like China, Japan, Indonesia, and Malaysia.

To handle the expected increase in production, the Puertollano lubricants plant will begin operating 24 hours a day, and has increased its workforce to close to 75 people.

Repsol handles the entire process of manufacturing lubricants in Puertollano, from distilling the petroleum, to adding additives and the subsequent packaging. In addition, the company’s Technology Center conducts research to create products that are at the forefront of the sector and that meet the highest standards.
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