Petronas and Mitsui OSK to explore liquefied CO2 shipping

Petronas and  Mitsui OSK to explore liquefied CO2 shipping

MOSCOW (MRC) -- Petronas has signed a Memorandum of Understanding (MoU) with leading global shipping company Mitsui O.S.K. Lines, Ltd. (MOL) to jointly explore opportunities in liquefied carbon dioxide (CO2) transportation for the carbon capture, utilisation and storage (CCUS) value chain in Asia Pacific and Oceania regions, said the company.

The MoU was signed in a virtual ceremony on 7 February by Petronas Executive Vice President and Chief Executive Officer of Upstream, Adif Zulkifli and MOL President and Chief Executive Officer Takeshi Hashimoto.

Adif said, "Petronas continuously explores opportunities to reduce carbon emissions in our operations. This collaboration is important as long haul liquefied CO2 transportation plays an essential role in the CCUS value chain. We are confident that MOL’s strong track record, coupled with its recent acquisition of Larvik Shipping AS which has safely transported CO2 for over 30 years, will position both Petronas and MOL as leaders in the region for long haul transportation of liquefied CO2."

Petronas is taking deliberate steps to build a resilient and sustainable portfolio aligned to its growth strategy, delivering effective solutions with a lower carbon footprint through commercial and operational excellence, renewable energy generation and technology innovations. Petronas supports the transition towards lower carbon energy sources by applying technology that lowers emissions across the value chain, which includes carbon capture, transport and storage.

MOL, together with Larvik Shipping AS, which is one of the few companies in the world qualified to operate liquefied CO2 vessels for food-grade CO2, will contribute its expertise in safe transportation of liquefied CO2. Liquefied CO2 transportation safely and efficiently connects CCUS sites over long distances where pipelines are not economically viable.

As per MRC, Petronas Chemicals Aromatics, the Malaysian state-owned petrochemical company, plans to shut down its paraxylene production facility at Kerteh, Malaysia next week for scheduled maintenance. This production facility with a capacity of 550,000 tonnes of paraxylene per year will be under repair for about 50 days.

Petronas is a Malaysian government-owned oil and gas and petrochemicals company and a Global Fortune 500 company. It currently operates and operates in markets in more than 60 countries.

PetroChina to boost petchem output, cut fuel

PetroChina to boost petchem output, cut fuel

MOSCOW (MRC) -- PetroChina has started a 33.9 B yuan (USD5.33 B) program to expand the petrochemical capacity at a subsidiary plant in northeast China and cut refined fuel production, according to a company post and state media report, said Hydrocarbonprocessing.

The state oil and gas major's move is in line with a trend within the Chinese industry to reduce fossil fuel output as demand is set to peak, while raising production of higher-value petrochemicals that are imported by the Asian country.

Under the revamp, PetroChina's Jilin Petrochemical Corp plans to add 21 more facilities - including a 1.2-MMtpy ethylene unit - and mothball seven units, parent company CNPC said on Wednesday, without providing further details.

The new facilities will also include a 600,000-tpy unit to manufacture acrylonitrile butadiene styrene, an impact-resistant plastic, local state newspaper Jilin Daily reported, without citing details on project completion.

After the revamp, the Jilin province-based subsidiary will produce 2.63 MM tons less of refined fuel a year but 2.8 MM tons more of petrochemicals.

As MRC informed previously, PetroChina, Asia's largest oil and gas producer,aims to have oil, gas and green energies to each account for a third of its portfolio by 2035, as the Chinese oil major shifts toward a lower-carbon future.

We remind that in August, 2021, PetroChina Liaoyang Petrochemical Co Ltd , part of the Chinese petrochemical major - PetroChina,successfully started up its new polypropylene (PP) plant last week. Based in Liaoning City, Liaoyang Province, China, the new PP plant has a production capacity of 300,000 tonnes per year.

PetroChina Company Limited, is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation, headquartered in Dongcheng District, Beijing. It is China's biggest oil producer.

Invista acquires propylene business from Flint Hills

Invista acquires propylene business from Flint Hills

MOSCOW (MRC) -- Invista, a Koch company and affiliate of Flint Hills Resources, has recently acquired the Flint Hills Resources propylene business, as per Invista's press release.

This includes chemical facilities in Houston and Longview, Texas, as well as support employees. Ownership of the pipelines that supply these facilities also transferred to Invista, and they will continue to be operated by Flint Hills Resources under contract.

“This addition of the propylene business to INVISTA’s existing portfolio provides a strong chemical platform in which to grow,” said Jeff Gentry, Invista chairman and CEO. “We look forward to applying our combined knowledge and capabilities to accelerate future innovation and growth opportunities.”

As MRC reported earlier, in February, 2021, Stepan Company (Northfield, Illinois) acquired Invista’s aromatic polyols business, which has annual sales of about USD100 million.

We remind that in September, 2020, Invista Textiles (U.K.) Limited’s technology and licensing business, Invista Performance Technologies (IPT), and Jiangsu Jiatong Energy Co., Ltd, a subsidiary of Tongkun Group (Tongkun), reached agreement to license Invista’s latest P8 PTA technology for two PTA lines. These two lines will be installed in Rudong, Nantong City, Jiangsu province, China. Both lines deploy INVISTA’s largest twin stream design respectively, utilising INVISTA’s latest P8++ PTA technology.

PTA is the main feedstock for the production of polyethylene terephthalate (PET).

According to MRC's ScanPlast report, the estimated PET consumption in Russia remained steady year on year in December 2021. December estimate PET consumption was 67,880 tonnes (67,710 tonnes in December 2020).
Russia's overall estimated PET consumption totalled 805,470 tonnes in 2021, up by 13% year on year (714,760 tonnes in 2020).

Invista is a global manufacturer of chemical intermediates, polymers and fibers. From parts for the automotive industry to medical equipment, air bags, food packaging, carpet and clothing, our ingredients in the nylon 6,6 and polypropylene value chains help bring many of life’s essential products to market. A subsidiary of Koch Industries since 2004, Invista is committed to innovation and responsibly creating more value for its customers and society while consuming fewer resources to make these products.

Synthos, Lummus Technology collaborate on bio-butadiene plant

Synthos, Lummus Technology collaborate on bio-butadiene plant

MOSCOW (MRC) -- Lummus Technology is collaborating with Polish chemicals producer Synthos to produce bio-based butadiene (BD) technology, said the company.

Synthos has increased capacity of its proposed bio-BD plant to 40,000 tonnes/year from 20,000 tonnes/year, following the success of the feasibility study conducted by the partnership last year. The location of the plant has not been disclosed.

The technology is now ready for implementation and the project will move into the engineering and design phase. As well as the plant capacity, Synthos will license BASF’s BD extraction technology from Lummus through its subsidiary Green Circle, with the processing firm providing digitalisation capabilities to increase efficiency in the project.

Earlier it was reported that Synthos closed the production of polybutadiene rubber (PBK) in Kralupy nad Vltavou (Kralupy, Czech Republic) for scheduled repairs. This plant with a capacity of 100 thousand tons of PBK per year will be closed for one month.

As per MRC, Synthos announced the final investment decision for the construction of a new Butadiene Extraction Unit with associated logistic infrastructure to be built in Plock, Poland. Air Liquide Engineering and Construction licenses the BASF NMP Butadiene Extraction technology and has been awarded with the overall engineering, procurement and Construction services and supplies for the project. The commissioning of the Butadiene Extraction Unit and first production are scheduled for 2024. The Butadiene extraction Unit will have a BD capacity of 120 kt/y.

Synthos produces synthetic rubber for applications in tyre and technical rubber goods. Green Circle is involved in end-of-life plastics recycling, production of bio-based sustainable chemicals and decarbonisation solutions for new and existing assets.

Finproject obtains ISCC Plus certification for production of compounds and products from sustainable raw materials

Finproject obtains ISCC Plus certification for production of compounds and products from sustainable raw materials

MOSCOW (MRC) -- Finproject, a Versalis (Eni) company, has obtained ISCCPLUS certification at its industrial sites in the Marche and Abruzzo regions for its Bio, Bio-circular and Circular Compounds and Bio, Bio-circular and Circular Plastic Products, produced using sustainable raw materials, said Eni on its site.

This achievement is an important step towards the goal of offering the market decarbonised and circular products. The availability of sustainable products comes following Finproject’s integration with Versalis (Eni), which in turn has ISCC PLUS certified plants in France (Dunkirk) and Germany (Oberhausen) from which Finproject is supplied with its raw material.

ISCC Plus is part of the ISCC (International Sustainability & Carbon Certification) scheme. This voluntary scheme allows companies along the supply chain to monitor and demonstrate the sustainability of their products through the verification of sustainability, traceability and mass balance requirements.

In 2022, Finproject will extend ISCC Plus certification to its Italian Padanaplast site and plants overseas, demonstrating the strength of its circular economy strategy, focused on an increasing use of sustainable raw materials.

As MRC informed previously, in September 2021, Versalis inked a deal to acquire the remaining 60% of the Marche, Italy, based industrial group Finproject. In July, 2020, Versalis had bought 40% of Finproject, which operates in the compounding sector and produces ultralight products.

Based for over 57 years in Morrovalle, in the Marche region of Italy, Finproject industrial group, today part of Versalis (Eni), is a vertically integrated organisation whose core business is focused on the production of compounds (mixtures created by dissolving polymer resins with additives and fillers) and foam injection moulding products. It manufactures and markets ultra-lightweight products under the XL EXTRALIGHT brand name for leading brands in footwear and other industrial sectors, including the spa, safety, automotive and furniture industries. Finproject is headquartered in Morrovalle (MC) where it has been operating for more than 57 years and has 11 production and research facilities across the world (Romania, India, China, Vietnam, Canada, Mexico and 5 in Italy) and three showrooms (USA, Brazil and Turkey). In 2017, it acquired Padanaplast, a pioneering company founded in 1971 and now leader in the production of specialist materials, from the Solvay Group.

Eni is an Italian multinational oil and gas company headquartered in Rome. It has operations in in 79 countries, and is currently Italy's largest industrial company. The Italian government owns a 30.3% golden share in the company, 3.93% held through the state Treasury and 26.37% held through the Cassa depositi e prestiti. Another 39.40% of the shares are held by BNP Paribas.