Mitsubishi Chemical still eyes maintenance at Kashima cracker in early May

MOSCOW (MRC) -- Mitsubishi Chemical still has plans to shut its naphtha cracker for a maintenance turnaround, as per Apic-online.

A Polymerupdate source in Japan informed that the company is likely to undertake planned turnaround at the cracker in early-May, 2018. The cracker is expected to remain under maintenance for a period of around two months.

Located at Kashima in Japan, the cracker has an ethylene production capacity of 540,000 mt/year and a propylene capacity of 260,000 mt/year.

As MRC informed before, in July 2016, Mitsubishi Chemical Holdings unveiled plans to sell its PTA business, the primary raw material used to manufacture various polyester products and polyethylene terephthalate (PET), in India and China amid profitability concerns with oversupply of the acid, mainly from China.

Mitsubishi Chemical with headquarters in Tokyo, Japan, is a diversified chemical company involved in petrochemicals, polymers, agrochemicals, speciality chemicals and pharmaceuticals. The company's main focus is on three business pillars: petrochemicals, performance and functional products, and health care.
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MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company, will increase list and off-list selling prices for Ateva EVA polymers sold in the Americas, as per the company's press release.

The price rise below will be effective 1 May, 2018, or as contracts otherwise allow.

Thus, the company's EVA prices will go up by USD0.05/lb for the said regions.

As MRC informed before, Celanese Corporation has also announced an increase in April prices of Ateva EVA polymers sold in Asia. The price increase was effective 4 April, 2018, or as contracts otherwise allowed. Thus, prices rose by USD150/mt.

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,600 employees worldwide and had 2017 net sales of USD6.1 billion.
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MOSCOW (MRC) -- Johnson Matthey PLC (JMAT.LN) said Monday that Patrick Thomas will succeed Tim Stevenson as chairman effective July 26, when the latter will retire following a seven-year tenure, reported MarketWatch.

Mr. Thomas has been the chief executive and chairman of polymers company Covestro AG (1COV.XE) since 2015, Johnson Matthey said.

The sustainable-technology company said Mr. Thomas will join the board as non-executive director and chairman designate on June 1.

Mr. Thomas will be appointed as chairman of the board, effective from the end of the annual general meeting on July 26, the company said.

As MRC wrote previously, in September 2017, German drugs and pesticides group Bayer further reduced its holding in Covestro to 31.5% from 40.9% by selling 19 million shares in the plastics business for a total of EUR1.2 billion (USD1.4 billion).

Covestro (formerly Bayer MaterialScience) is an independent subgroup within Bayer. It was created as part of the restructuring of Bayer AG from the former business group Bayer Polymers, with certain of its activities being spun off to Lanxess AG. Covestro manufactures and develops materials such as coatings, adhesives and sealants, polycarbonates (CDs, DVDs), polyurethanes (automotive seating, insulation for refrigerating appliances) etc.
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MOSCOW (MRC) --Repsol has been for years committed to innovation, in order to increase the circularity and efficient use of the plastic materials it produces, as per Hydrocarbonprocessing.

The company is carrying out multiple projects to improve its products end of life management.

After Repsol’s adherence to the “Pact for a Circular Economy” in October 2017, promoted by the Spanish Ministry of Agriculture and Fisheries, Food and the Environment; and the Spanish Ministry of Economy, Industry and Competitiveness, the company's chemical business has signed up a voluntary commitment to increase the circularity and efficiency of resources.

This commitment is achieved through Repsol’s adhesion to "Plastics 2030 - Voluntary Commitment”.

During the last years, anticipating society’s demands and intending to offer its customers differentiated products, Repsol has been involved in many innovation projects to increase the circularity and efficiency of the plastic materials the company develops, both objectives of the above mentioned voluntary commitment.
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MOSCOW (MRC) -- Abu Dhabi National Oil Co (ADNOC) is in talks with several partners, including Saudi Aramco, for possible downstream joint ventures abroad, particularly in Asia, industry sources with knowledge of the matter told Reuters.

The Abu Dhabi state energy company wants to increase its crude refining capacity by 60 percent and boost petrochemical production.

It plans to spend more than 400 billion dirhams (USD109 billion) in the next five years, which will include boosting gas output and investing in international downstream activities, the company said in November.

ADNOC wants to expand its downstream portfolio in markets where demand for oil is still growing, such as China and India, securing a new outlet for its crude.

"As part of ADNOC’s further expansion of our downstream business, we are exploring a number of select international downstream opportunities, especially in growth markets. We will update the market in due course," an ADNOC spokesman said on Wednesday, declining to comment on specific projects.

One source said the opportunities ADNOC could be looking at included a refinery and petrochemical project in India, for which Aramco signed an initial agreement on Wednesday with a consortium of Indian state refiners.

The source said talks were at a very early stage and no decision had been taken. It was not clear whether ADNOC would join Aramco on the same project.

In March, an executive of Indian Oil Corp said ADNOC was interested in buying a stake in its planned west coast refinery.

Top executives from Aramco and India's Ratnagiri Refinery & Petrochemicals - a joint venture of Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp - signed a memorandum of understanding to take equal stakes in the project in Maharashtra state.

Aramco may introduce at a later stage a strategic partner to share its 50 percent stake, Saudi Energy Minister Khalid al-Falih said on Wednesday in New Delhi. Aramco Chief Executive Amin Nasser declined to comment on whether Aramco had been in talks with ADNOC for a partnership in the project.

The project includes a 1.2 MMbpd refinery integrated with petrochemical facilities with a total capacity of 18 MMbpd.

It will be one of the largest refining and petrochemical complexes in the world, built to meet fast-growing fuel and petrochemicals demand in India and elsewhere, and providing a steady outlet for Saudi crude oil.

As MRC informed previously, ADNOC plans to almost triple its petrochemical production to an annual 11.4 MMt by 2025 from 4.5 MMt at present, group chief executive Sultan Al Jaber said in November 2016.

ADNOC's petrochemicals are produced by Abu Dhabi Polymers Co (Borouge), which makes polyolefin, and Ruwais Fertilizer Industries (Fertil), which produces urea and ammonia fertilisers.
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