Celanese raises June prices for long-fiber thermoplastic products

MOSOCOW (MRC) -- Celanese Corporation, a global specialty materials company, has announced price increases on its polyamide-based long-fiber thermoplastic compounds (PA66-LFT) and thermoplastic polyurethane long-fiber thermoplastic compounds (TPU-LFT), as per the company's press release.

The price increases below will be effective for orders placed on or after June 1, 2018, or as contracts otherwise allow:

- for polyamide-based long-fiber thermoplastic grades (PA66-LFT): by USD0.10/kg - for Americas, by EUR0.10/kg - for Europe, by USD0.10/kg - for Asia;
- for thermoplastic polyurethane long-fiber thermoplastic grades (TPU-LFT): by USD0.35/kg for Americas, by EUR0.35/kg - for Europe and by USD0.35/kg - for Asia.

As MRC informed before, Celanese Corporation increased May prices of vinyl acetate-based emulsions sold in China. Thus, the company's prices of EVA emulsions rose by CNY300/mt for China, effective May 1, 2017, or as contracts otherwise allow.

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 7,300 employees worldwide and had 2016 net sales of USD5.4 billion.

PETRONAS, Aramco launch refinery and petrochemical joint venture identity in Malaysia

MOSCOW (MRC) -- Petronas and Saudi Arabia's state-owned oil company Saudi Aramco have launched the corporate identity of their joint ventures in the Pengerang Integrated Complex (PIC) in Pengerang, Johor, said Saudi Aramco.

The joint ventures are the Pengerang Refining Company Sdn Bhd (PRefChem Refining) and Pengerang Petrochemical Company Sdn Bhd (PRefChem Petrochemical), collectively known as “PRefChem”.

Commenting on the company’s visual identity, Dr Colin Wong Hee Huing, the CEO of the two companies, said the circular movement of the logo represents collaboration, precision and bonding between Petronas and Saudi Aramco, while the blue and green colours portray PRefChem as a vibrant, dynamic and environmentally friendly company.
According to a press statement issued by Petronas, the refinery complex and cracker is now 96.54 per cent complete while the petrochemical facilities has achieved 84.8 per cent completion.

"This integrated partnership marks a visionary move by two professionally-run national oil companies where both are able to leverage on each other’s strengths and share technical capabilities as well as experiences for mutual benefit.

"I am proud that we are amongst the pioneer of national oil companies partnering with one another to ensure better positioning for both organisations in an increasingly competitive market,” said Petronas president and group CEO Tan Sri Wan Zulkiflee Wan Ariffin.

Over 200 Senior Energy, Petrochemical and Private Sector Leaders and CEOs Tour Ruwais as Part of ADNOC

MOSCOW (MRC) – As part of the launch of the Abu Dhabi National Oil Company’s (ADNOC) new Downstream strategy at the ADNOC Downstream Investment Forum in Abu Dhabi this week, over 200 senior energy, petrochemical and private sector leaders and CEOs toured the Ruwais Industrial Complex and Ruwais City, where they viewed existing facilities and key assets and were briefed on a number of future development plans, as per Hydrocarbonprocessing.

The expansion of the Ruwais Industrial Complex and Ruwais City is at the heart of ADNOC’s strategy to deliver a more valuable downstream business. Located in the strategically important Al Dhafra region, 240 kilometres west of Abu Dhabi, and building on the existing strengths and competitive advantages of the Ruwais Industrial Complex, ADNOC’s new downstream plans will create the world’s largest and most advanced integrated refining and petrochemicals complex. Through a combined program of strategic partnerships and investment, ADNOC will increase the range and volume of high-value downstream products, secure better access to growth markets around the world, and create a manufacturing ecosystem in Ruwais that will significantly stimulate In-Country Value creation, private sector growth and employment, and drive the expansion and development of Ruwais City and the Al Dhafra region. The strategy is expected to add more than 15,000 jobs by 2025 and contribute an additional 1% to GDP per year.

ADNOC will also develop a new, large-scale, manufacturing ecosystem in Ruwais through the creation of new petrochemical Derivatives and Conversion Parks. Both parks will enable numerous new petrochemical activities and value chains in such fields as construction chemicals, oil and gas chemicals, surfactants and detergents.

As part of the Ruwais area development, ADNOC will significantly expand Ruwais City to meet the expected increase in demand for housing and other facilities resulting from an enlarged Ruwais Industrial Complex. ADNOC plans to make Ruwais an even more attractive and thriving city for a greatly expanded, diverse and high-skilled workforce. Along with new homes, ADNOC is undertaking a range of infrastructure and community enhancement projects to ensure residents experience the best possible quality of life and are part of a strong, sustainable community.

ADNOC’s Downstream Investment Forum brought together leaders from a diverse range of industries and sectors, to discuss key trends impacting their businesses and investments in the energy and petrochemicals industry. At the forum, ADNOC unveiled plans to become a global downstream leader, capable of stretching the margin of every barrel of oil produced, as it accelerates the delivery of its 2030 smart growth strategy. This will deliver more valuable upstream and more profitable downstream businesses and ensure an economic and sustainable supply of gas.

The tour of the Ruwais Industrial Complex and city included visits to Ruwais Refinery West and East, several of the site’s control centres, Borouge 3 and future large-scale project locations, as well as a guided bus tour of Ruwais City.

Hamriyah Free Zone Authority recognizes top Petrochemical, Oil & Gas companies of Hamriyah Free Zone

MOSCOW (MRC) – Hamriyah Free Zone Authority (HFZA) recognizes top petrochemical, oil & gas companies of Hamriyah Free Zone during the “HFZA – Gulf Energy Information (Gulf) Petrochemical, Oil & Gas Event” held last 7th day of May 2018 at Hamriyah Free Zone Authority Head Office, as per Hydrocarbonprocessing.

In this event the strategic partnership between Hamriyah Free Zone Authority and Gulf Energy Information (Gulf), formerly Gulf Publishing Compan (GPC) benefits were announced to the participating Petrochemical, Oil & Gas companies and HFZ’s investors to highlight and promote their company, products and services globally.

Mr. Saud Salim Al Mazrouei, Director of HFZA and Sharjah Airport International Free Zone (SAIF Zone) said, “we are delighted to recognize the 1,500 companies working in the petrochemical, oil & gas sector of Hamriyah Free Zone and to connect our investors to Gulf’s global publication to showcase their products and services globally.

Gulf Energy Information, was founded in 1916 and global publication for more than 100 years, has been seen as a leading provider of media, marketing and market intelligence services that provides in depth insights, technical content and strategic direction to the international energy industry. Gulf’s market-leading brands—World Oil, Hydrocarbon Processing, Petroleum Economist, Pipeline & Gas Journal, Gas Processing & LNG, Pipeline News and Underground Construction to serve their markets with traditional print publications, as well as digital media, data and events that leverage large audiences across the upstream, midstream, downstream, business strategy and infrastructure markets.

Gulf is happy to bring more international attention to HFZA and to assist HFZA and their business associates by attracting additional business opportunities.

Iran agrees to build new refinery for Sri Lanka

MOSCOW (MRC) -- Iran has agreed to build a new oil refinery for Sri Lanka in addition to upgrading its ageing 50,000 barrel per day (bpd) state-owned refinery, reported Reuters with reference to Sri Lankan cabinet spokesman Rajitha Senaratne.

Iranian officials pledged the new refinery when Sri Lanka President Maithripala Sirisena made an official visit to Tehran over the weekend, the first leader to go to Iran since U.S. President Donald Trump reimposed U.S. economic sanctions.

"They even agreed to help Sri Lanka to build a new refinery," Senaratne told Reuters when asked if Sri Lanka sought assistance to refurbish its current refinery.

"We only spoke about the concepts and they promised to send a team (for further talks)."

Senaratne did not elaborate how the Sri Lankan government would deal with Iranian financial transactions in the face of U.S. sanctions.

Sri Lanka has a single, 50,000 bpd oil refinery in Colombo suburb Sapugaskanda, built by Iran in 1969 to refine Iranian light crude. However, when toughened sanctions were imposed on Tehran in 2012 to curb its nuclear ambitions, state-run Ceylon Petroleum Corporation (CPC) was forced to look for other light crudes.

The existing refinery accounts for 30 percent of Sri Lanka's fuel requirement, but the head of CPC last week said that upgrading "may not be the solution" because Sri Lanka needs a refinery capable of handling all types of crude.

Iran's offer comes as Chinese, Middle East and Russian companies are in "preliminary discussions" to build a 100,000 bpd refinery for CPC.

Two Chinese companies have jointly bid for a 100,000 bpd refinery, with annual output of about 5 million tonnes a year, in the southern town of Hambantota, where China controls a sea port and plans an industrial zone.

Sri Lanka is still in talks about the Hambantota refinery, though the government has blocked a proposal by the Chinese companies to sell fuel locally.

Sri Lanka has also discussed another 100,000 bpd refinery in partnership with Indian Oil Corp, but there has been no progress on that plan. (Reporting by Shihar Aneez Editing by David Goodman)