MOSCOW (MRC) -- Midstream oil and gas company Enterprise Products Partners (EPD), through its affiliate, has agreed to acquire Navitas Midstream Partners in a debt-free transaction for USD3.25bn in cash, according to Offshore Technology.
The company will acquire Navitas from an affiliate of Warburg Pincus.
Navitas provides natural gas gathering, treating, and processing services in the Midland Basin, located in the Permian Basin. It owns 1,750 miles (2,816km) of pipelines, as well as the Leiker processing plant, which is due to be commissioned in the first quarter of 2022.
Once the Leiker plant comes on stream, Navitas will have a processing capacity of more than one billion cubic feet of cryogenic natural gas per day.
Enterprise’s general partner co-chief executive officer and chief financial officer Randy Fowler said: “The system, including its large footprint of low-pressure natural gas gathering, is an attractive processing franchise that provides value-added services to producers.
“This investment will provide Enterprise with an attractive return on capital, and support additional capital returns to our limited partners through distribution growth and buybacks of common units.”
As MRC reported before, earlier this year, Enterprise Products Partners reported flaring at its propane dehydration, or PDH, unit in Mont Belvieu, Texas. According to the filing made public Aug. 10, the 750,000 mt/year PDH unit was shut down following a leak on Aug. 9. Sources confirmed on Aug. 10 that the unit was offline, but did not give an estimated timeframe of when the unit is expected to come back online.
Propylene is the main feedstock for the production of polypropylene (PP).
According to MRC's ScanPlast report, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.
MOSCOW (MRC) -- Grasim Industries has commissioned caustic soda projects at Rehla, Jharkhand and Balabhadrapuram, Andhra Pradesh, said Constructionweekonline.
The ongoing expansion project at Rehla has been completed and the company has successfully commissioned Phase-II of the expansion project — 80 tpd caustic soda lye at Rehla, taking overall caustic soda lye capacity of Rehla unit to 550 tpd.
Moreover, the company had acquired the stalled Chlor Alkali Project of 200 tpd in 2019 from KPR Industries (India) situated at Balabhadrapuram.
With systematic investments, the company is in the process of increasing the capacity at Balabhadrapuram unit to 400 tpd of caustic soda and three value added chlorine derivatives.
The company has now successfully commissioned Phase-I of the project — 70 tpd caustic soda lye at Balabhadrapuram and it is in ramp up phase.
As per MRC, Lubrizol Advanced Materials, a global specialty chemical leader and the market leader for CPVC, and Grasim Industries Limited have entered into a definitive agreement to manufacture and supply CPVC resin in India to meet growing demand for chlorinated polyvinyl chloride (CPVC) pipe and fittings. Once commissioned, this near 100,000 metric-ton state-of-the-art CPVC plant at Grasim’s site in Vilayat, Gujarat, will be the largest single-site capacity for CPVC resin production globally.
As per MRC, India plans to impose anti-dumping duties (ADD) ranging from USD8.32 to USD88.61 per tonne on imports of caustic soda from Japan, Iran, Qatar and Oman. The Directorate-General of Trade Resources (DGTR) recommended the introduction of ADD after its investigation proved dumping had adversely affected the domestic industry.
MOSCOW (MRC) -- Brazilian state-run oil company Petroleo Brasileiro SA (Petrobras) said on Wednesday it expects to spend a record 2.5 B reais (USD457.41 MM) on refinery maintenance in 2022, according to Hydrocarbonprocessing.
As MRC informed beofre, Brazilian petrochemical producer Braskem SA filed with the Securities and Exchange Commission on Friday for a share offering in which the oil company Petroleo Brasileiro SA (Petrobras) and Novonor will sell their stakes in the petrochemical company.
Earlier this month, Petrobras announced it was expecting to sell 100% of its stake by February. The oil company has a 36.1% stake in Braskem, while Novonor, formerly known as Odebrecht, holds 38.3%.
We remind that in August 2021, Petrobras hired JPMorgan Chase & Co as an advisor to sell its stake in the petrochemical company Braskem SA.
We also remind that Braskem is no longer pursuing a petrochemical project, which would have included an ethane cracker, in West Virginia. And the company is seeking to sell the land that would have housed the cracker. The project, announced in 2013, had been on Braskem's back burner for several years.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 2,265,290 tonnes in the first eleven months of 2021, up by 14% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,363,850 tonnes in January-November, 2021, up by 25% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
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.
MOSCOW (MRC) -- WL Plastics, a subsidiary of UK petrochemicals major INEOS, has acquired the polyethylene (PE) pipe extrusion assets of Charter Plastics in Titusville, Pennsylvania, said the company.
Charter's Titusville site and associated assets can produce a range of PE pipe for end-uses such as potable water, reclaimed water, sewer, geothermal, gas, irrigation, and industrial applications. Financial terms were not disclosed.
This strategic acquisition provides the opportunity for WL Plastics to further diversify its product offerings, expand its customer base, and enter new regional markets. The Titusville site and associated assets have the capability of producing a broad range of polyethylene pipe for numerous end-uses including potable water, reclaimed water, sewer, geothermal, gas, irrigation, and industrial applications.
"We are delighted to bring such an established and well-positioned asset kit into the broader manufacturing base of WL Plastics,” said Mark Wason, CEO of WL Plastics. “We are excited to be a part of the Titusville community."
As per MRC, Ineos Styrolution's expanded acrylonitrile butadiene styrene (ABS) manufacturing facility at Wingles, France will be operational in the first quarter of 2022. Initially, Ineos announced plans to convert one of its three existing polystyrene production lines in mid-2018 (PS) to the ABS line with an expected capacity of about 50 thousand tons per year.
The original planned deadline for the expansion was the third quarter of 2020, but this has been delayed due to the coronavirus pandemic.
WL Plastics is a wholly owned subsidiary of INEOS USA LLC d/b/a INEOS Olefins & Polymers USA, which is part of the INEOS Group, one of the world’s leading manufacturers of petrochemicals, specialty chemicals, and oil products. WL Plastics, with eight high density PE pipe production facilities in the US, was acquired by INEOS in 2016.