Solvay Peroxides partnered with a local biotech company for the on-site production of microalgae

MOSCOW (MRC) -- Solvay Peroxides’ plant in Portugal has partnered with a local biotech company for the on-site production of microalgae that will capture the equivalent of all its CO2 emissions, said the company.

The ALGATEC Eco Business Park project has been designed to produce and harvest microalgae for various products and applications, with the enormous benefit that, in the process, the harvested microalgae capture and use CO2. The Portuguese Algae for Future (A4F) biotech company and investor LusoAmoreiras initiated this project, which is under development at Solvay’s Peroxides site in Povoa (Portugal).

This is good news for Solvay, and in particular for the Group’s commitment on greenhouse gas emissions. Today, Solvay’s Povoa site emits carbon dioxide via its steam generator. When the ALGATEC project will be fully up and running, the microalgae production is expected to capture about 2,000 tons of carbon dioxide, which will correspond to more than Povoa’s total emissions. Therefore, as early as 2020, the Povoa plant is set to become a CO2-neutral installation.

“The impact of the ALGATEC project’s co-localization with Solvay’s operations in Povoa is great,” says Arlindo Carvalho, Solvay Povoa’s Production & Energy Manager. “The microalgae production platform adds quite innovative technologies, generates highly qualified jobs and enhances synergies. Even more relevant, though, is having a partner company capable of capturing and using all of our direct CO2 emissions. This is a wonderful example of collaboration at work, enabling Povoa to become a zero-CO2 emission site."

ALGATEC is currently exploring an initial area of 4,000 square meters, which corresponds to about 30 cubic meters of culture of a species of microalgae called Nannochloropsis. At project completion in August 2020, the 14 ha production area, microbiology laboratory and industrial biorefinery will become the largest microalgae production platform in Europe.

As MRC informed earlier, Solvay announces that its subsidiary Solvay Finance SA will exercise its first call option on its EUR700 million hybrid bond after having notified the Luxembourg Stock Exchange where the bond is listed.

Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality.
Solvay is headquartered in Brussels with around 27,000 employees in 62 countries. Net sales were EUR10.3 billion in 2018, with 90% from activities where Solvay ranks among the world's top 3 leaders, resulting in an EBITDA margin of 22%.

ADNOC signs new long-term agreement for base oil sales into China

MOSCOW (MRC) -- Abu Dhabi National Oil Company (ADNOC) concluded a significant long-term sales agreement with the Xiamen Sinolook Oil Co. Ltd., of China, for its high-quality base oil, ADbase, reported Reuters with reference to the company's statement.

ADNOC Refining, an ADNOC subsidiary, produces up to 500,000 metric tons per year of the Group III base oil, at its Ruwais refining and petrochemicals complex.

Murban, Abu Dhabi’s light, high paraffinic crude, is used as feedstock for ADNOC’s Base Oil plant in Ruwais.

Xiamen Sinolook Oil Co. Ltd. is one of China’s biggest importers and distributors of base oils, with a 5 percent share of the 7.17 million tonnes per annum market.

As MRC informed before, in September 2018, ADNOC Refining, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), reached full production of polymer-grade propylene from its newly commissioned Propane Dehydrogenation (PDH) unit, located in the Ruwais integrated refining and petrochemical hub. The PDH unit processes propane from two major sources, ADNOC Gas Processing and Ruwais Refinery West, to produce half a million tons per year of polymer-grade propylene. The standalone unit is part of the recently commissioned Carbon Black and Delayed Coker project.

April prices of European PVC rose for CIS markets under pressure from higher feedstock prices

MOSCOW (MRC) -- Negotiations over prices of European polyvinyl chloride (PVC) for April shipments to the CIS markets have begun this week. Higher feedstock prices made European producers raise their export prices further, according to ICIS-MRC Price report.

The April contract price of ethylene was agreed up by EUR30/tonne from March, which presupposes the increase in PVC production costs in the region by EUR15/tonne. On the back of this, European producers announced an increase in export prices of suspensions for April shipments to the CIS countries, while discussing price increases that are not proportional to the increase in the price of ethylene.

Demand for PVC has remained weak from the main consumers in the CIS countries for several months due to seasonal factors and sufficient supply of resin by national producers.

Some European producers still have had restrictions on export shipments since March because of the upcoming shutdowns for maintenance, but such restrictions are not critical, given the current weak demand.

Deals for April shipments of suspension polyvinyl chloride (SPVC) to the CIS markets were negotiated in the range of €715-785/tonne FCA, whereas last month's deals were done in the range of €710-765/tonne FCA.

Celanese raises April VAM prices in Europe, Middle East, Africa, Asia and Americas

MOSCOW (MRC) -- Celanese Corporation, a global specialty materials company, has increase April list and off-list selling prices for Vinyl Acetate Monomer (VAM) sold in Europe, Middle East, Africa, Asia and the Americas, as per the company's press release.

The price increases below were effective for orders shipped on or after 20 March, 2018, or as contracts otherwise allow, and are incremental to any previously announced increases.

Thus, VAM prices rose, as follows:

- by EUR100/mt - for Europe, Middle East & Africa;
- by USD0.05/lb - for the USA and Canada:
- by USD110/mt - for Mexico & South America;
- by USD100/mt - for Asia outside China (AOC):
- by CNY800/mt - for China.

Besides, Celanese increased its prices of emulsion polymers by USD50/mt for AOC.

As MRC reported earlier, Celanese last raised its VAM prices for some of the stated above regions on 1 March, 2019, as follows:

- by EUR100/mt - for Europe, Middle East & Africa;
- by USD0.05/lb - for the USA and Canada:
- by USD110/mt - for Mexico & South America.

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.

Lyondell Houston refinery restoring coker to normal operation

MOSCOW (MRC) -- Lyondell Basell Industries is restoring the large coker to normal operation at its 263,776 barrel-per-day (bpd) Houston refinery after a compressor malfunction, said Gulf Coast market sources, said Reuters.

The 57,000 bpd 737 Coker malfunctioned after a compressor tripped off early on Thursday morning, the sources said. The compressor was reset, allowing Lyondell to begin returning the coker to normal operation.

As MRC informed earlier, LyondellBasell announced that Lianyungang Petrochemical Co., a subsidiary of Zhejiang Satellite, has selected its Hostalen Advanced Cascade Process (ACP) technology for a new high-density polyethylene (HDPE) facility to be built in China.

LyondellBasell is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 57 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies.