TKNPZ resumed PP production

MOSCOW (MRC) - Turkmenbashi complex of oil refineries (TKNPZ) resumed the production of polypropylene (PP) after the scheduled maintenance works. The outage was not long, according to ICIS-MRC Price report.

According to the company's clients, the output of PP production facilities from scheduled preventive maintenance took place on 8 October. It is also important to note that the maintenance works started from 20 September, and started earlier than planned due to technical problems. The plant's annual production capacity is 100,000 tonnes.

The Turkmenbashi complex of oil refineries (TKNPZ) in 2017 produced 84,100 tonnes of polypropylene (PP), slightly exceeding the plan for the year (82,500 tonnes). As mentioned earlier, a new plant for the production of high density polyethylene (HDPE) and polypropylene with a total capacity of 382,000 tonnes and 86,000 tonnes, respectively, was recently launched in Turkmenistan.

As the potential customers of the enterprise reported, now there is a test run of polyolefins, and the official start-up of production is scheduled for 17 October. The first shipments from the new petrochemical complex have been already sold in early September, and recently there were deals for PP done at USD1,050/tonne, FCA.

TKNPZ produces automobile gasoline, aviation and technical kerosene, hydrotreated diesel fuel, petroleum coke, polypropylene, a wide range of technical lubricating oils, liquefied gas, road and construction bitumen. A significant part of the production of the complex is exported to Russia, Japan, Italy, Turkey, China, Iran, the United Arab Emirates, Afghanistan, Pakistan, Tajikistan, Georgia, Armenia.
MRC

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, has increased October list and off-list selling prices for Vinyl Acetate Ethylene (EVA) emulsions sold in China and Asia Outside China (AOC), as per the company's press release.

The price increases below are for orders shipped and are effective as of 5 October, or as contracts otherwise allow, and are incremental to any previously announced increases.

Thus, Celanese raised VAM list and off-list selling prices by RMB200/mt for China and by USD50/mt for AOC.

As MRC reported earlier, Celanese last increased its prices for VAM sold in Asia on 9 August, 2018, as follows:

- by RMB200/mt for China and by USD50/mt for AOC.

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.
MRC

MOSCOW (MRC) -- Ilham Kadri has been appointed CEO of the Group, Chairman of the Executive Committee, member of the Board of Directors?, by Solvay’s Board of Directors, with effect from March 1st, 2019, said the company.

She will join Solvay on January 1st, 2019 and spend two months transitioning with Jean-Pierre Clamadieu, before taking the leadership role and continuing Solvay’s transformation.

March 1st will officially mark the commencement of Ilham Kadri at the top of Solvay's leadership succeeding to Jean-Pierre Clamadieu in the executive duties and mandate as CEO of Solvay.

The newly appointed CEO Ilham Kadri reflects Solvay's recent journey as leading company with advanced material and speciality chemicals innovative product portfolio and sustainable solutions to address next-generation mobility and improve resource efficiency.

A holder of Moroccan and French nationalities, Ilham Kadri has an engineering degree from the European School of Chemistry, Polymers and Materials Science in Strasbourg, France, and a PhD in macromolecular physico-chemistry from Louis Pasteur University in Strasbourg.

Solvay is headquartered in Brussels with around 26,800 employees in 61 countries. Net sales were EUR10.1 billion in 2017, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%.
MRC

MOSCOW (MRC) -- Saudi Aramco has agreed in principle to invest in an oil refinery in Pakistan, the Saudi-owned Al Arabiya television said, without providing further details, as per Reuters.

But a Saudi delegation visit ended with no economic lifeline for the South Asian nation’s looming foreign currency crisis.

Petroleum Minister Ghulam Sarwar Khan said talks had not sought deferred oil payments, contradicting an earlier statement by the finance minister.

Pakistan may need to approach the International Monetary Fund (IMF) for its second bailout in five years, though the government of new Prime Minister Imran Khan is seeking alternatives.

In the Gwadar refinery agreement, state-owned Pakistan State Oil will partner with Aramco, the Saudi state oil giant, Petroleum Minister Khan said.

Details of the refinery’s costs and capacity are to be finalised after a Memorandum of Understanding approved by Pakistan’s cabinet on Thursday is finalised, he added.

Gwadar, in the southwestern province of Baluchistan, is the crown jewel of China’s $60 billion investment in Belt and Road Initiative (BRI) projects in Pakistan.
MRC

MOSCOW (MRC) -- SIBUR has passed an independent audit that certified its compliance with the international standard ISO 19600:2014 – Compliance Management Systems, said the company.

Including SIBUR, only three Russian companies have so far been certified against this standard, which testifies to the Company’s high standards for operating excellence. The certification audit was conducted by an international team of analysts at Bureau Veritas Certification Rus. The compliance certificate is valid until 2021 and will require annual surveillance audits.

ISO 19600 provides guidelines for establishing a compliance management system or improving an existing one. The certificate confirms that SIBUR’s compliance management systems are in line with international standards in combating corruption, preventing insider trading, identifying and managing conflicts of interest, preventing antitrust law violations, and implementing procedures for gifts and hospitality.

Alexey Kozlov, Managing Director and Member of SIBUR’s Management Board, said: "Certification against the ISO standard once again highlights SIBUR’s commitment to principles of responsible business and ethics."
MRC