Russia, China delay U.S. push for halt to refined petroleum sales to N.Korea

MOSCOW (MRC) - Russia and China delayed a U.S. push for a U.N. Security Council committee to order a halt to refined petroleum exports to North Korea, asking for more detail on a U.S. accusation that Pyongyang has breached a cap, diplomats said, as per Reuters.

Russia's mission to the United Nations told the 15-member committee it is "closely examining this request and is seeking additional information on every single case of 'illegal' transfer of petroleum," diplomats said. China backed the request for information.
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MOSCOW (MRC) -- TechnipFMC has been awarded a substantial contract by the state-owned Hindustan Petroleum Corporation Ltd. (HPCL) for a grassroot Hydrogen Generation Unit (HGU), as per Yourpetrochemicalnews.

The project is part of the brownfield expansion for HPCL’s Visakh Refinery Modernization Project located in Visakhapatnam, in the state of Andhra Pradesh in India.

The contract covers project management, technology licensing, preparation of basic design and engineering package, as well as detailed engineering, procurement, construction, commissioning, and performance guarantee test run on a licensing, engineering, procurement, construction and commissioning basis.

This HGU is being installed to cater to the needs of HPCL Visakh refinery to enhance its refining capacity from 8.33 MMTPA to 15 MMTPA. TechnipFMC’s scope includes an HGU comprising two trains with a design capacity of 113 KTPA each and a Pressure Swing Adsorption Unit of 36 KTPA hydrogen production.

TechnipFMC advanced the application of its proprietary steam reforming technology beyond the conventional fired reformer by adding its TechnipFMC Parallel Reformer (TPR), a convective, high temperature heat exchange reformer. This combination reduces overall firing demand by taking high temperature heat from the effluent of the conventional reformer to supply heat needed for the TPR. In addition, the design includes a power generation unit that utilizes excess steam, making the plant electrically self-sufficient.

NelloUccelletti, President of the Onshore/Offshore business at TechnipFMC, commented: "Our proprietary steam reforming and TPR technologies were key differentiators in this award. By maximizing energy efficiency, lowering feed consumption, reducing power import and minimizing emissions, these technologies will enable us to provide HPCL with a self-sufficient HGU which is one of a kind in the industry."

TechnipFMC previously executed two HGUs for HPCL and has a strong presence in India. The company is a global leader in the design and supply of hydrogen plants, with more than 270 built worldwide.
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MOSCOW (MRC) -- The CITGO Lemont Refinery announced that it was honored for its exemplary 2017 safety record by the Three River's Manufacturers' Association (TRMA), the American Fuel & Petrochemical Manufacturers (AFPM) and BNSF Railway, as per Hydrocarbonprocessing.

CITGO Lemont Tank Car Loaders were presented with the BNSF Product Stewardship Award by Jeff Hawthorne, CITGO Operations Unit Supervisor, and Glenn Rabinak, CITGO Engineering and Business Services General Manager.

Through best practice standards, consistent employee training, and performance metrics and auditing to continually meet a high-level safety performance, the Lemont Refinery surpassed its previous safety record by reaching over 14 million work hours with zero lost workday cases at the end of 2017.

On April 4, 2018, the Lemont Refinery received the Partnership Award for its outstanding safety performance during the TRMA Annual Dinner Meeting in Joliet, Illinois. This award is given to industry leaders with a total Occupational Safety and Health Administration (OSHA) workplace recordable incident rate of less than 0.30 for the calendar year.

For the second consecutive year, the Lemont Refinery received a Safety Achievement Award from AFPM during the organization's annual conference in May. To be considered for this award, the company must surpass six key criteria, including an OSHA recordable incident rate below 0.4 and no employee or contractor injuries requiring hospitalization.

For four consecutive years, the Lemont Refinery has received the BNSF Railway Product Stewardship Award for zero non-accidental releases of hazardous products during a calendar year. To qualify for the award, a company must have tendered a minimum of 400 orders to BNSF during 2017.

"Safety is our top priority at CITGO. Through teamwork and collective diligence, the Lemont Refinery will continue to work at exceeding expectations, and strive for an incident-free workplace during 2018," said Jim Cristman, CITGO Vice President of Refining.
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MOSCOW (MRC) -- BASF pursues a significant capacity expansion of the integrated ethylene oxide complex at its Verbund site in Antwerp, Belgium, as per the company's press release.

The project includes capacity expansions for ethylene oxide and for several downstream derivatives, such as surfactants.

In Europe, BASF operates ethylene oxide plants in Antwerp and Ludwigshafen with a combined capacity of 845,000 metric tons per year. The company is the largest producer of ethylene oxide derivatives in the region. Major ethylene oxide derivatives are surfactants, ethanol amines, glycol ethers, polyether polyols and other specialty products used in a wide range of industries such as home and personal care, industrial applications and the automotive industry.

BASF intends to further strengthen its backward integration into ethylene oxide to support continued growth of its customers in downstream markets. The final investment decision is expected to be made in 2019.
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MOSCOW (MRC) - Saudi Aramco’s potential acquisition of a stake in petrochemicals maker SABIC would affect the timeframe of its own planned initial public offering, the firm’s chief executive, Amin Nasser, said in a TV interview, as per Reuters.

The offering is the centerpiece of an ambitious plan championed by Crown Prince Mohammed bin Salman to diversify Saudi Arabia’s economy beyond oil, but preparations for the IPO, which could prove the biggest in history, have slowed.

Saudi-owned Al Arabiya television cited Nasser as saying that buying a stake in a petrochemicals company would make the state oil giant less vulnerable to price volatility.

"If the deal is completed, with relevant regulations taken into account, it will definitely affect the timeframe for the partial IPO of Saudi Aramco," he said in a transcript provided by the government media office.

Aramco said on Thursday it was looking to buy a strategic stake in SABIC, which could boost its market valuation ahead of a planned IPO. When Aramco is ready to list, the IPO timing would be up to the government to decide, Nasser said.

"As I said in previous interviews when Saudi Aramco is ready, the decision of going ahead with the IPO is for the state to make," he said. On Thursday, Aramco said it was in “very early-stage discussions” with the kingdom’s Public Investment Fund (PIF) to acquire the SABIC stake in a private transaction, and had no plans to acquire any publicly held shares.

Riyadh-listed Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company, is 70 percent owned by the PIF, Saudi Arabia’s top sovereign wealth fund. It has a market capitalization of 385.2 billion Saudi riyals (USD103 billion).

Nasser also said Aramco had a long-term goal to convert 2 million to 3 million barrels of its oil products into chemicals. Nasser said the proposed deal with Sabic would help balance revenues from excavation and production with those from refining and chemicals, that normally remain strong even when oil prices dip.

Reuters reported on Wednesday that Saudi Aramco had invited banks to pitch for an advisory role on the potential acquisition of a strategic stake in SABIC, citing two sources with direct knowledge of the matter. Some sources close to the Saudi Aramco IPO process have said the plans for a domestic and international listing might be pushed further into next year or beyond.

A final decision has yet to be made by Prince Mohammed, who oversees the kingdom’s economic and oil policies, the sources said. Saudi Arabia’s energy minister, Khalid al-Falih, said last month it would be “nice” to see Aramco floated in 2019, adding that the timing was not critical to the government.

Aramco plans to boost investments in refining and petrochemicals to secure new markets and sees growth in chemicals as central to its downstream strategy to cut the risk of an oil demand slowdown.
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