Nextchem awarded FEED contract for an advanced mechanical recycling plant of municipal waste in Europe

Nextchem awarded FEED contract for an advanced mechanical recycling plant of municipal waste in Europe

MOSCOW (MRC) -- Maire Tecnimont announced that its subsidiary NextChem has been awarded a Front-End Engineering Design (FEED) contract by a market leader in plastics and chemicals for an advanced mechanical recycling plant of municipal plastic waste in Europe, said Hydrocarbonprocessing.

The aim of the project is to establish an advanced mechanical recycling plant for polyolefins, which shall manufacture products containing up to 100% post-consumer recycled materials (PCR). The waste processing capacity of the plant will be up to 75,000 tpy.

NextChem will be responsible for the Front-End Engineering Design, also assisting the client in the development of the execution phase. Completion of the FEED is expected by mid-2023. Once completed, the plant will be one of the largest advanced mechanical recycling facilities worldwide.

Alessandro Bernini, Chief Executive Officer of Maire Tecnimont Group and NextChem, commented “Enabling leading producers to include in their product portfolio partially or completely recycled polymers is one of the most effective ways to give plastics a sustainable life cycle, reducing both consumption of fossil sources and the carbon footprint. This new recycling plant will also integrate NextChem’s knowhow and technology solutions, in order to convert waste sources into new second-life products. We are proud to enable this solution thanks to our technological know-how”.

As per MRC, NextChem, Maire Tecnimont's energy transition technology company, has completed the construction of the first demonstration plant in Italy for the chemical recycling of polyethylene terephthalate (PET) and polyester from textiles, as part of the European Union’s DEMETO project. The plant is located in Chieti, in the Abruzzo Technology Park.

Univar Solutions to expand global offerings with acquisition of Spanish specialty distributor Vicom

Univar Solutions to expand global offerings with acquisition of Spanish specialty distributor Vicom

MOSCOW (MRC) -- Univar Solutions Inc., a leading global provider of solutions for specialty ingredient and chemical product users, announced today that it has acquired Vicom Distribucion Productos Quimicos, S.L., a leading regional distributor of specialty chemicals in Spain and Portugal, said the company.

The acquisition of Vicom will further expand the company's strong specialist portfolio of coatings, adhesives, sealants and elastomers (CASE) by enhancing its range of additive solutions and increasing its presence in Europe with more sustainable options.

"I am delighted to welcome the Vicom team to the Univar Solutions family," said Nick Powell, President of Global Ingredients & Specialties. "Vicom advances our strategic growth priorities by deepening our ability to offer market-leading ingredients, specialty chemicals and solutions to our customers. With a highly-skilled sales organization, strong partnerships with both new and existing Univar Solutions suppliers, and a proven track record of service excellence, Vicom is a highly complementary fit and will add even more value to our customers as we expand our solution offerings to meet trends and drive sustainable options as we continue to grow together."

Teresa Garcia, Chairman of the Board of Vicom, said, "We are very excited to join Univar Solutions in offering our customers an even broader portfolio of critical solutions for their applications. We share a deep commitment to customer service through an enhanced experience and I am confident that we have a very bright future ahead of us as part of Univar Solutions."

As per MRC, ASF’s Glyoxal is utilized by customers as a cross-linking agent in numerous industries, said the company.
Effective June 1, 2022, Univar Solutions has been named the exclusive distributor for BASF's Chemical Intermediates’ Glyoxal in the US and Canada. With this agreement BASF and Univar Solutions expand their collaboration to better serve customers through a host of sustainable solutions across a range of applications.

Valvoline Inc to sell its automotive products to Saudi Aramco

Valvoline Inc to sell its automotive products to Saudi Aramco

MOSCOW (MRC) -- Valvoline Inc is selling its unit that makes lubricants, coolants and other automotive products to state-owned Saudi Aramco for USD2.65 B in cash to sharpen focus on its retail services business, said Hydrocarbonprocessing.

The deal announced on Monday builds on the company's plan to separate the two units, with the sale proceeds set to fuel an expansion of the vehicle service center business Valvoline operates across the United States. For Aramco, it deepens a bet on the long-term demand for petrochemicals. The oil giant has been expanding its presence in the sector, known as downstream, and bought petrochemical maker Saudi Basic Industries Corp in 2020.

Valvoline shares rose nearly 4% in premarket trading, while Aramco was a tad higher. "Valvoline's Global Products business fits perfectly with Aramco's growth strategy for lubricants as it will leverage our global base oils production, contribute to R&D capabilities and strengthen existing relationships with OEMs (original equipment makers)," said Mohammed Qahtani, senior executive at Aramco.

The business brought USD1.76 B in revenue last year, accounting for nearly 60% of Valvoline's sales, and is forecast to grow 24% in the third quarter. Valvoline said it would also use the sale proceeds to accelerate share repurchases and reduce debt. Aramco will own the Valvoline brand for all product uses globally, though the Lexington, Kentucky-based company will continue to procure motor oil and related products from the lubricant business through a long-term supply deal.

As per MRC, South Korean oil refiner S-Oil has signed four MOUs with Saudi Aramco to collaborate in the alternative energy business, including Thermal Crude to Chemicals (TC2C) technology, research and development (R&D) on the production of lower carbon future energy, and investment in venture capita.

Sumitomo Chemical increased Q1 profit

Sumitomo Chemical increased Q1 profit

MOSCOW (MRC) -- Sumitomo Chemical says that its net profit in the fiscal first quarter ended 30 June almost doubled to USD524.5 mln,on sales up 21%, said the company.

Operating income was higher by 13% year on year (YOY). The company has maintained its full-year outlook.

Selling prices for synthetic resins, methyl methacrylate and various industrial chemicals improved due to an increase in raw material prices. The weak yen also benefited sales revenues of subsidiaries outside of Japan when converted into yen. On the other hand, shipments declined, primarily because of weak demand for products in automotive applications. As a result, sales revenue increased by ?39.0 billion from the same period in the previous year, to ?238.6 billion. Core operating income was ?10.0 billion, declined by ?13.8 billion from the same period in the previous year, because of a deterioration in margins caused by higher raw material prices and the impact of lower shipment volumes, despite an improvement in the performance of Rabigh Refining and Petrochemical Company, our equity method invested.

As per MRC, Shiseido Company, Limited (Shiseido), SEKISUI CHEMICAL CO., LTD., and Sumitomo Chemical Co., Ltd. will start a joint initiative to establish a circular economy for plastic cosmetics containers, in which used cosmetics plastic containers are collected, converted to resources and materials without sorting, and recycled back into plastic cosmetics containers.

Lufthansa and Shell form future-oriented cooperation on SAF

Lufthansa and Shell form future-oriented cooperation on SAF

MOSCOW (MRC) -- Shell International and the Lufthansa Group have signed an MoU for exploring the supply of SAF at airports across the globe, said Hydrocarbonprocessng.

The parties intend to agree on a contract for a total supply volume of up to 1.8 MMt of SAF starting in 2024, over a term of seven years. Such an agreement would be one of the most significant commercial SAF cooperation in the aviation sector, as well as the largest SAF commitment of both companies to date.

The cooperation would enable the Lufthansa Group to promote the availability, market ramp-up and use of SAF as an essential element for a CO2-neutral future of aviation. The Lufthansa Group is already the largest SAF customer in Europe and aims to remain one of the world's leading airline groups in the use of sustainable kerosene. The MoU builds on Shell’s ambition to have at least ten percent of its global aviation fuel sales as SAF by 2030.

SAF is aviation fuel that is produced without the use of fossil energy sources, such as crude oil or natural gas, and show a saving of CO2 compared to conventional kerosene. Various production processes exist and different feedstock are available as energy sources. The current generation of SAF, which saves 80 percent CO2 compared to conventional kerosene, is mainly produced from biogenic residues, for example from used cooking oils. In the long term, SAF can enable virtually CO2-neutral aviation.

The Lufthansa Group has been involved in SAF research for many years, has built up an extensive network of partnerships and is driving forward the introduction of sustainable next-generation aviation fuels in particular. Special focus is placed on the forward-looking power-to-liquid and sun-to-liquid technologies, which use renewable energies or solar thermal energy as energy carriers.

By using SAF, customers of the Lufthansa Group can already fly CO2-neutral today. In addition, they can document their reduced CO2 emissions with audited certificates and have the CO2 savings credited to their individual CO2 balance.

As per MRC, Shell posted record results, with a USD11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling of refining profit. Higher feedstock and utility costs and higher turnaround activities hit Shell’s chemicals earnings in the second quarter. Shell reported an loss attributable to shareholders for the business of USD158m.

In addition, Shell in its reporting for the first quarter of 2022 recognized the cost of leaving Russian assets at USD 3.9 billion after taxes. Earlier, she informed that the losses could amount to USD 4-5 billion.

Shell is a British-Dutch oil and gas concern engaged in the extraction, processing and marketing of hydrocarbons in more than 70 countries.