MOSCOW (MRC) -- Albemarle Corporation, a leader in the global specialty chemicals industry, has announced that it has signed a Heads of Agreement in the field of heavy feedstock hydrocracking for the company's catalysts business unit, as per PRNewswire.
Sinopec Catalyst Co. Ltd. (SCC), Sinopec Fushun Research Institute of Petroleum and Petrochemicals (FRIPP), and Albemarle's catalysts business are combining strengths by cooperating in the field of catalytic hydrocracking. The cooperation will be worldwide and on a non-exclusive basis. Albemarle, SCC and FRIPP will combine forces to be the supplier of choice for supplying hydrocracking pre-treat and hydrocracking catalysts and expertise.
"We are pleased to strengthen our position in hydrocracking by this Heads of Agreement with SCC and FRIPP," said Silvio Ghyoot, Albemarle's President, Catalysts. "We look forward to developing this Heads of Agreement further towards a productive business cooperation from which a number of customers around the globe will benefit."
Mr. Gu Songyuan, President of Sinopec Catalyst Co., stated, "Albemarle is a trusted catalyst supplier in the industry which is why we pursued a partnership with them. Together, we will offer the global refining industry strong profitable solutions for heavy feedstock hydrocracking by combining solid hydrotreating and hydrocracking expertise."
Mr. Fang Xiangchen, President of Sinopec Fushun Research Institute of Petroleum and Petrochemicals, added, "Combining FRIPP's hydrocracking pilot plant expertise, references and application knowledge with Albemarle's hydrotreating know-how will lead to great added value propositions for refiners, enhancing their profitability in a significant way."
As MRC informed earlier, China's Sinopec group, parent of Sinopec Corp, will invest USD29.05 billion to upgrade four refining bases between 2016 and 2020 to produce higher-quality fuels.
Albemarle Corporation, headquartered in Charlotte, NC, is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts.
Sinopec Catalyst Co., Ltd. (SCC), a wholly-owned subsidiary of SINOPEC, is one of the world's biggest manufacturers, suppliers, and service providers for oil refining and chemical catalysts. With the support of Sinopec group which possesses industrial facilities of various technology resources, SCC improves its core strength to offer one-stop solution to different problems from the industrial facilities operation. SCC produces oil refining catalysts, polyolefin catalysts, catalysts for basic organic raw materials, coal chemical catalysts, environmental protection catalysts, additives, and absorbents.
Sinopec Fushun (Dalian) Research Institute of Petroleum and Petrochemicals is a research institute directly under SINOPEC.
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group's key business activities include the exploration and production of oil and natural gas, petrochemicals and other chemical products, oil refining.