Iran has exported 4.26 MMbbl of oil from South Pars since March

MOSCOW (MRC) -- Iran has exported about 4.26 MMbbl of oil from South Pars to international destinations since the beginning of the Iranian calendar year, which began in late March, Fardin Asadi, the manager for development of oil layers at South Pars, reported Reuters with reference to Iranian Students’ News Agency (ISNA).

South Pars is the world’s largest gas field which also has significant oil reserves. Approximately 25,000 bbl of oil are extracted from South Pars daily, Asadi told ISNA.

France’s Total signed a deal with Tehran in July to develop phase 11 of South Pars, marking the first major Western energy investment in Iran since the lifting of sanctions against the country last year.

Total will be the operator with a 50.1% stake, alongside Chinese state-owned oil and gas company CNPC with 30%, and National Iranian Oil Co subsidiary Petropars with 19.9%.

The field exported about $6.9 B worth of gas condensate, a 28% increase in the value of exports of that product over the same period last year, a customs official told state media in August.

As MRC infromed previously, in June 2017, Russian oil major Rosneft agreed to explore and develop five fields in Iraq's Kurdistan as the company seeks to become a key player in one of the world's newest and fastest-growing oil provinces.
MRC

MOSCOW (MRC) -- Solvay Performance Polyamides, a world leader in polyamide-based performance materials, announces a price increase across Asia of USD300 per metric ton for the entire Technyl range of products, effective immediately, as per the company's press release.

"The stringent environmental measures recently implemented by the Chinese government have a structural impact all along the polyamide chain in Asia, intensifying market tightness and rising supply costs," said Bertrand Lousteau, Head of Asia-Pacific for Solvay Performance Polyamides Global Business Unit. "This game-changing context makes such a price rise necessary to restore a sustainable margin level in the region."

As MRC wrote before, in July 2016, Solvay completed the divestment of its shareholding in Inovyn (London), bringing to an end Solvay's chlorvinyls joint venture with Ineos. Solvay received exit cash proceeds amounting to EUR335 million (USD370.7 million). The dissolution of the jv follows regulatory clearances from the relevant authorities.

Solvay, with a market share 27%, is the second largest PVC manufacturer in Europe, after Kerling with 29% of the market. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of EUR12.4 bn in 2015, with 90% made from activities where it ranks among the world’s top 3 players.
MRC

MOSCOW (MRC) -- The first phase of an envisioned 1,500-bed man camp that will house workers needed to support the CITGO Aruba Refinery refurbishment project on the island is almost complete, according to Hydrocarbonprocessing.

This first construction phase of the man camp - which will be situated in the same location used by the refinery's previous operator consists of dormitory buildings and service facilities that can house up to 400 workers.

Construction of the man camp has positively impacted the economy of the island, with engineering and construction activities employing nearly 150 local residents, as well as procurement activities for materials and services.

Over the next several weeks, work at the man camp site will continue, with full completion scheduled for the 1Q 2018.
MRC

MOSCOW (MRC) -- Sika has started producing high-performance concrete reinforcing fibers for clients in the Europe, Middle East and Africa region at its manufacturing facility in Troisdorf, Germany, where a new production line has been commissioned, reported CoatingsWorld.

Made of a thermoplastic material (polypropylene), the fibers are used to increase the structural strength of concrete in highly demanding applications. With this new production line, Sika is continuing to expand its range of concrete additives and positioning itself as an innovative single-source supplier to the construction industry.

The global market volume of steel and synthetic fibers used in concrete applications is estimated at approximately CHF 800 million, with synthetic fibers recording the biggest growth. Macro fibers such as Sika's newly developed product line SikaFiber Force-60 are mainly used instead of steel reinforcements for strengthening concrete or shotcreted structures with demanding performance requirements. Typical areas of use include tunneling, mining, precast concrete elements and industrial floors, as well as foundations and ground slabs. The new fibers not only improve the safety, durability and serviceability of concrete and enhance its performance, but also increase the efficiency of the construction process as they are added to the ready-mixed concrete during mixing.

"With our latest innovation, synthetic macro fibers, we want to offer customers new technologies in the area of structural reinforcement," said CEO Paul Schuler. "We are carrying out a targeted investment in the build-up of production in the EMEA region, and are confident that these high-performance products have significant growth potential."

As MRC wrote before, in March 2016, Sika opened a new mortars and concrete admixtures plant in Vancouver, Canada. With the new plant, which is the company's fourth facility in Canada, Sika expects to serve the Pacific Northwest, a region that includes the cities of Vancouver, Seattle and Portland. The new plant fulfils the company's continued supply chain strategy in North America by expanding production capacities in conurbations and major cities in the area.

Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and the motor vehicle industry. Sika has subsidiaries in 90 countries around the world and manufactures in over 160 factories.
MRC

MOSCOW (MRC) -- Keiyo Ethylene is in plans to take its naphtha cracker off-stream for a maintenance turnaround, as per Apic-online.

A Polymerupdate source in Japan informed that the cracker is planned to be shut in May-June 2018. The exact date and duration of the planned shutdown could not be ascertained.

Located at Ichihara in Chiba prefecture of Japan, the cracker has a production capacity of 740,000 mt/year.

As MRC informed before, another major Japanese petrochemical producer - Idemitsu Kosan - resumed operations at its cracker in Japan in late October 2017. The cracker was taken off-line for maintenance on September 22, 2017. Located at Chiba in Japan, the cracker has an ethylene production capacity of 375,000 mt/year.

Founded in 1991, Keiyo Ethylene Co. Ltd. produces and sells petrochemical products. The Company produces ethylene, propylene, and other petrochemical products.
MRC