Zhong Tian halts production at LDPE unit in China

MOSCOW (MRC) -- Zhong Tian He Chuang, a joint venture of Sinopec and China Coal Energy Group, has taken off-stream Low density polyethylene (LDPE) unit owing to a technical glitch, as per Apic-online.

A Polymerupdate source in China informed that the company has undertaken an emergency shutdown at the units in early-April, 2019. Further details on duration of an unplanned outage could not be ascertained.

Located at Ordos in Inner Mongolia, China, the LDPE unit has a production capacity of 250,000 mt/year.

As MRC reported before, in September 2018, Sinopec Corp joined a group planning to build an oil refinery in Alberta, an enterprise that would strengthen demand for the Canadian province's heavily discounted crude.

Sinopec Corp. is one of the largest scale integrated energy and chemical company with upstream, midstream and downstream operations. Its principal business includes: exploring, developing, producing and trading crude oil and natural gas; producing, storing, transporting and distributing and marketing petroleum products, petrochemical products, synthetic fiber, fertilizer and other chemical products. Its refining capacity and ethylene capacity rank No.2 and No.4 globally. Sinopec listed in Hong Kong, New York, London and Shanghai in August 2001. Sinopec Group, the parent company of Sinopec Corp., is ranked the 5th in Fortune Global 500 in 2012.
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MOSCOW (MRC) -- German Gref, the head of Russia’s largest lender Sberbank, said he could not confirm if the bank was in talks with Azerbaijan’s state energy company Socar about a possible sale of the Antipinsky oil refinery, reported Reuters.

"I do not confirm this," Gref told reporters when asked if he could comment on earlier media reports that Sberbank, Antipinsky’s main creditor, was in talks about handing over control of the refinery to Socar.

As MRC informed previously, in October 2018, Azeri state energy company SOCAR started up its new oil refinery in Turkey. The USD6.3 billion Star refinery, the first in Turkey built in 30 years, will supply feedstock to Turkish petrochemicals firm Petkim to help to cut Turkey’s dependence on imported refined oil products. It will boost Turkish refining capacity by 30 percent. The plant on Turkey’s Aegean coast has capacity to process about 10 million tonnes per year (200,000 barrels per day) of crude.

SOCAR, which is keen on expanding operations in the retail oil products market abroad, is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
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MOSCOW (MRC) -- Tetra Pak has launched a connected packaging platform, which will transform milk and juice cartons into interactive information channels, full-scale data carriers and digital tools, said Eppm.

Driven by the trends behind Industry 4.0, and with code generation, digital printing and data management at its core, the connected packaging platform will bring new benefits to food producers, retailers and shoppers, according to the company.

It has successfully completed pilots with its customers to test the new connected package and its performance in retail in Spain, Russia, China, the Dominican Republic and India, working with beverage, juice and milk producers. In Spain, one customer increased sales by 16 per cent through the scan and win campaign.

For producers, the new packaging platform will offer end-to-end traceability to improve the production of the product, quality control and supply chain transparency. It will have the ability to track and trace the history or location of any product, making it possible to monitor for market performance and any other potential issues.

For retailers, it will offer greater supply chain visibility and real-time insights, enabling distributors to track stock movements, be alerted when issues occur, and monitor for delivery performance.? While for shoppers, it will mean the ability to access a lot of information, such as where the product was made, the farm the ingredients originated from and where the package can be recycled.

Ivan Nesterenko, Vice President, Cross Portfolio at Tetra Pak said: “We are unlocking new opportunities for our customers to get more value from packaging than even before. No longer is it only about product protection and functionality, it is about connectivity. The future of packaging is undoubtedly digital: this launch is a step towards a truly intelligent package, and we are excited to collaborate with our customers on this journey."
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MOSCOW (MRC) -- The Saudi Arabian Oil Company (Saudi Aramco) and Hyundai Heavy Industries Holdings announced that they have reached an agreement for Saudi Aramco’s subsidiary, Aramco Overseas Company B.V (AOC), to purchase a 17% stake in South Korea's Hyundai Oilbank, a subsidiary of Hyundai Heavy Industries Holdings, as per Hydrocarbonprocessing.

The investment is valued at approximately USD1.25 billion. AOC’s’s investment in South Korea’s Hyundai Oilbank will support Saudi Aramco’s crude oil placement strategy by providing a dedicated outlet for Arabian crude oil to South Korea.

"Saudi Aramco continues to strengthen its position in the downstream sector. This acquisition demonstrates our investment in the highly complex refining sector in Asia, and continuous commitment to the region’s energy security and development," Abdulaziz Al-Judaimi, Saudi Aramco’s Senior Vice President of Downstream, said.

"The investment supports Saudi Aramco’s broader downstream growth strategy, as well as providing long term crude oil options and offtakes as part of our trading business," Judaimi added.

Hyundai Oilbank is a private oil refining company established in 1964. The Daesan Complex, where Hyundai Oilbank’s major facilities are located, is a fully integrated refining plant with a processing capacity of 650,000 barrels per day. The business portfolio of Hyundai Oilbank and its 5 subsidiaries includes oil refining, base oil, petrochemicals, and a network of gas stations.

AOC is a subsidiary of Saudi Aramco. It provides support services to Saudi Aramco and, through its investments and joint ventures, forms an integral part of the global Saudi Aramco oil, gas, and chemicals enterprise.

As MRC informed before, in October 2018, state oil giant Saudi Aramco signed an agreement to invest in a refinery-petrochemical project in eastern China, part of its strategy to expand in downstream operations globally. The memorandum of understanding between the company and Zhejiang province included plans to invest in a new refinery and co-operate in crude oil supply, storage and trading, according to details released by the Zhoushan government after a signing ceremony in the city south of Shanghai.

Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian national oil and natural gas company based in Dhahran, Saudi Arabia. Saudi Aramco's value has been estimated at up to USD10 trillion in the Financial Times, making it the world's most valuable company. Saudi Aramco has both the largest proven crude oil reserves, at more than 260 billion barrels, and largest daily oil production.
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MOSCOW (MRC) -- Arkema has successfully started up the 30% capacity extension of its photocure advanced liquid resin production plant in Nansha, located south of Canton, China, as per the company's press release.

Inaugurated on 10 April 2019, this new production line will help to meet the strong demand in Asia in the electronics, 3D printing, adhesives and inkjet printing markets. This investment supports Sartomer’s strategy to develop cutting-edge solutions for advanced and sustainable curing technologies.

The new line will produce state-of-the-art UV, LED and EB (electron beam) liquid resins, which provide high efficiency and performance benefits to photocuring systems dedicated to high-end applications such as electronics where they are used in the production and design of printed circuits, as well as smartphone, tablet and television screens.

The line will also manufacture Sartomer’s ever-expanding portfolio of unique N3xtDimension resins for 3D-printed products.

As MRC reported earlier, in March 2017, Arkema completed the sale to INEOS of its 50% stake in Oxochimie, their oxo alcohols manufacturing joint venture, and of the associated business.

Arkema is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc.
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