Petrobras sees no fuel supply shortage after Replan fire

MOSCOW (MRC) -- A director at Brazilian state-run oil company Petroleo Brasileiro SA said a fire at the company’s largest refinery Replan, in the state of Sao Paulo, is not expected to compromise fuel supplies in the short run, reported Reuters.

Jorge Celestino Ramos, the company’s refining and natural gas director, said fuel supplies are guaranteed for 15 days as other refineries may compensate any shortfall at Replan, where production remains halted since the early hours of the day.

As MRC wrote previously, in October 2017, Petrobras’ minority stakes in Braskem and Deten Quimica was excluded from Petrobras’s divestment program, according to a government decree published in Brazil’s Official Gazette. The decree prevented Petrobras from immediately selling its minority stake in Braskem, which had been announced last year. A new decree will be required to release the stock sale.

Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
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HIG Capital signs definitive agreement for the sale of AMPAC Fine Chemicals

MOSCOW (MRC) -- H.I.G. Capital, a leading global private equity investment firm with more than USD25 billion of equity capital under management, has announced the signing of a definitive agreement for the sale of its portfolio company AMPAC Fine Chemicals to SK Holdings Co. Ltd, as per Financial Post.

Based in Rancho Cordova, CA, AFC is a leading global supplier of high value-added active pharmaceutical ingredients and intermediates used in treating diseases such as cancer, CNS disorders and various viral infections. AFC is strategically located with four facilities within the United States, providing services to a large number of blue chip pharmaceutical and biotech companies throughout the entire life cycle of their products.

H.I.G. acquired AFC in February 2014 as part of American Pacific Corporation. AFC’s sister company, AMPAC Specialty Chemicals, was sold to Huntsman Family Investments in December 2015.

Fraser Preston, Managing Director of H.I.G., said: "AFC is a terrific organization with exceptional leadership. Dr. Aslam Malik and his team have transformed the business since we acquired it - adding technical capabilities, diversifying the customer base, building an expanded and flexible manufacturing footprint and delivering industry leading organic growth every year since our acquisition."

Dr. Aslam Malik, CEO of AFC, added: "H.I.G. has been thoughtful and supportive of AFC since our partnership began several years ago. In addition to supporting AFC with growth capital; allowing us to expand our Rancho Cordova, CA facility; start AMPAC Analytical; restart operations at our La Porte, TX site; and acquire a state-of-the-art plant in Petersburg, VA, H.I.G. has provided us with the freedom and flexibility needed to grow the business and served as a dynamic thought partner to our senior leadership team. Thanks to our affiliation with H.I.G., AFC is a much bigger and a more diversified company today than it was in 2014 - our customer base is broader and our relationships with them are deeper. As a result, our development pipeline is bigger than it has ever been."

Mr. Preston further commented, "Partnering with a respected global organization like SK Holdings represents a terrific next step for the Company’s customers, partners, and employees, and we look forward to the Company’s continued success."

AMPAC Fine Chemicals (AFC) is a US-based company with demonstrated capabilities in process development, scale-up, and cGMP-compliant commercial production of active pharmaceutical ingredients and registered intermediates for pharmaceutical and biotechnology customers. Its specially engineered facilities and experienced staff allow AFC to safely produce complex compounds at all scales. AFC’s operations are located in Rancho Cordova and El Dorado Hills CA, in La Porte, TX and in Petersburg, VA.

H.I.G. is a leading global private equity and alternative assets investment firm with more than USD25 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, Sao Paulo, Bogota and Mexico City, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies
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BASF Petronas to boost production capacity for AA, butyl acrylate units in Malaysia

MOSCOW (MRC) -- BASF Petronas Chemicals, a joint venture of BASF and Petronas, is planning to expand the production capacity of its acrylic acid (AA) and butyl acrylate plants at its integrated Verbund site in Kuantan, Malaysia, according to Apic-online.

The expansion, which aims to support the growing demand for acrylic monomers in Asia-Pacific, is expected to come on stream by 2021, the company noted.

No other details were available.

As MRC informed before, in June 2015, BASF, the world’s leading chemical company, inaugurated its world-scale production complex for acrylic acid, butyl acrylate and superabsorbent polymers in Camacari, Bahia, Brazil. These were the first plants for acrylic acid and superabsorbent polymers in South America. The complex has a capacity of 160,000 tons of acrylic acid per year. The investment of more than EUR500 million was the largest in BASF’s more than century-long history in South America.

BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas.
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Hengli Petrochemical resume operations at No.1 PTA plant

MOSCOW (MRC) -- Hengli Petrochemical has restarted operations at its no.1 purified terephthalic acid (PTA) plant at Dalian, as per Hydrocarbonprocessing.

A Polymerupdate source in China informed that the plant was brought on-stream on August 14, 2018 following a planned maintenance turnaround. The plant was taken off-stream on August 1, 2018. Currently, the plant is operating at 80-85% production capacity rates.

Located at Dalian in China, the plant has a production capacity of 2.2 mmt/year.

As MRC reported previously, in May 2018, INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and Hengli Petrochemical (Dalian) Co.,Ltd. (Hengli) reached an agreement to license INVISTA’s latest purified terephthalic acid (PTA) process technology for Hengli’s fourth PTA line. Hengli’s first three PTA lines, the first of which began operation in 2012, also utilize INVISTA’s technology and have a combined capacity of 6.6 million metric tonnes per year. The fourth line will have a design capacity of 2.5 million metric tonnes per year and will be installed at Changxing Island, Liaoning Province of China.
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Sinopec Shanghai Petrochemical ahead of schedule in providing cleaner diesel

MOSCOW (MRC) -- Sinopec Corp’s subsidiary Shanghai Petrochemical Corp started providing cleaner diesel fuel with "National 6" standards on Monday to customers, ahead of a deadline set by the Shanghai authorities, as per Hydrocarbonprocessing with reference to local state media.

China’s "National 6" sets tighter specifications on the content of aromatics in diesel fuel compared to Euro 6 standards. The Shanghai government is enforcing a city-wide upgrade of gasoline and diesel to "National 6" beginning Oct. 1.

China’s biggest cities - Beijing, Shanghai and Guangzhou - have led the country’s push for cleaner fuels. Diesel-burning trucks are considered a major contributor to smog, along with coal burning and emissions from heavy industries such as steel and cement.

As MRC reported earlier, Sinopec Shanghai Petrochemical conducted maintenance works at its low density polyethylene (LDPE) unit in Shanghai from 26 February, 2018, to 26 March, 2018. Thus, the turnaround at the plant lasted for one month. Located at Shanghai in China, the LDPE unit has a production capacity of 100,000 mt/year.

China Petroleum & Chemical Corporation, or Sinopec Limited is a Chinese oil and gas company based in Beijing, China. It is listed in Hong Kong and also trades in Shanghai and New York . Sinopec is the worlds fifth biggest company by revenue.
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