BASF and Nippon Paint develop sustainable industrial packaging

Germany-based chemical company BASF has partnered with Japanese coating manufacturer Nippon Paint to introduce sustainable industrial packaging in China, said the company.

The packaging has been adopted for Nippon Paint ‘s dry-mixed mortar series products. It uses BASF ‘s water-based acrylic dispersion, Joncryl High-Performance Barrier (HPB), as the barrier material, which is being used for the first time in industrial packaging in China.

In addition to offering ‘excellent’ vapour and water resistance properties, Joncryl HPB eliminates plastics and improves the recyclability of paper-based packaging in the industrial segment. The use of Joncryl HPB material will enable Nippon Paint to save thousands of tonnes of plastics while reusing around 10,000 tpa of paper bags.

BASF said that this will reduce carbon emissions and help achieve a circular economy and sustainable development within the packaging industry. BASF Asia Pacific Resins for Printing & Packaging business management director Carol Jiang said: “Sustainability and innovation have always been our core strategies.

“At BASF , we are committed to providing sustainable solutions to our customers to help them reduce carbon footprint, utilise resources efficiently, and help the industry fulfil its sustainability commitments. “This cooperation with Nippon Paint is another innovation in the industrial packaging segment, marking our joint effort in leading the industry development, promoting a circular economy, and creating a better life."

Nippon Paint China Procurement Headquarters president Kevin By said: “Sustainability is an important strategy that Nippon Paint has been adhering to for years. “The cooperation with BASF is a step forward on the path of green development.

"Nippon Paint will continuously be a green ‘activist,’ connecting upstream and downstream partners across the industry chain to build a green ecology through the eco-upgrade of product packaging and lead the new trend of sustainable packaging to green development a core competency."

In 2020, BASF expanded its dispersion portfolio at its facility in Huizhou, South China.

We remind, BASF Coatings (Guangdong) Co., Ltd. (BCG) has expanded the production capacity of automotive refinish coatings at its coatings site in Jiangmen, Guangdong Province in South China. With the completion of the expansion in July 2022, BASF’s annual production capacity of automotive refinish coatings will be increased to 30,000 metric tons. This is in line with the company’s pledge to maintain customer proximity, as well as to strengthen BASF’s position as a leading and innovative coatings supplier to the automotive industry in China and the rest of Asia.
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McDermott International has been awarded a Front-End Engineering Design (FEED) contract from Viva Energy Australia as part of its Geelong Refinery project to provide additional desulfurization capabilities, said Hydrocarbonprocessing.

The award follows the successful completion of the Pre-FEED activity and encompasses early engineering and procurement services to support the project schedule.

Under the contract scope, McDermott will provide FEED services for a new modularized production unit. The unit will produce ultra-low sulfur gasoline with up to ten parts per million (ppm) sulfur to meet the proposed changes to Australia's fuel quality standards from the end of 2024. Lower sulfur gasoline will support improved vehicle emissions.

"This award is testament to our successful execution of the pre-FEED. In this next phase, we will apply McDermott's extensive modularization expertise to ensure quality, reduce cost and maintain the schedule," said Tareq Kawash, Senior Vice President, Onshore of McDermott. "We look forward to continuing to support Viva Energy Australia's carbon emission reduction goals to provide cleaner fuels and enhance Australia's fuel security."

Work on the project will be executed from McDermott's engineering center of excellence in The Hague, the Netherlands with support from its offices in Gurgaon, India, and Perth, Australia.

As per MRC, McDermott’s storage business unit, CB&I, and Korea Gas Corporation (KOGAS) have signed a memorandum of understanding (MoU) to explore the development of large-scale liquid hydrogen storage to support Korea’s hydrogen economy roadmap. Last year, South Korea announced plans to achieve carbon neutrality by 2050 by replacing coal-fired power generation with renewable sources and internal combustion engine vehicles with hydrogen-powered and battery-based electric vehicles, McDermott wrote in a statement.
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The Hydrocarbon-Onshore division of L&T’s Energy Business has secured a large contract from Indian Oil Corporation (IOCL), said Hydrocarbonprocessing.

IOCL is implementing the Panipat Refinery Expansion (P-25) Project to enhance refining capacity from 15 MMtpy to 25 MMtpy to meet the growth in demand of petroleum products and to increase their profitability and competitiveness in the long run.

The engineering, procurement, construction, and commissioning (EPCC) contract is for setting up a Residue Hydrocracker Unit (RHCU) for this P-25 Project. The RHCU is licensed by Axens (France) with a capacity of 2.5 MMtpy and will upgrade the Vacuum Residue (VR) to high-value commercial products (mainly diesel). The contract is awarded through international competitive bidding on a Lump Sum Turnkey (LSTK) basis.

L&T earlier bagged a significant EPCC Contract for setting up DHDT Unit (5.0 MMtpy, licensed by Shell) under the same P-25 Project of IOCL at Panipat-Refinery.

Commenting on the win, Mr. Subramanian Sarma, Whole-time Director & Sr. Executive Vice President (Energy) said, “We are very delighted to be part of this large expansion project of IOCL-Panipat. I would like to thank IOCL for having trust in our capabilities. We are fully committed to delivering the complex process units with high standards of HSE and Quality."

The Hydrocarbon business of L&T Energy organized under Offshore, Onshore, Construction Services, Modular Fabrication and Advanced Value Engineering & Technology (AdVENT) verticals, offers integrated design-to-build solutions to domestic and international customers. With over three decades of rich experience, the business has been setting global benchmarks in all aspects of project management, corporate governance, quality, HSE and operational excellence.

As per MRC, India opened its first factory to produce ethanol from rice straw or stubble on Wednesday as part of measures to reduce its reliance on oil imports and meet its net zero carbon goal.

We remind, India has cut fuel export taxes for the second time in less than two weeks and increased a windfall tax on locally produced crude oil, a government notification said.
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Phillips 66 announces offer to acquire outstanding publicly held common units of DCP Midstream, said Hydrocarbonprocessing.

Concurrent with Phillips 66’s announcement of the realignment of economic and governance interests in DCP Midstream, LP (DCP Midstream), Phillips 66 also announced it has submitted a non-binding proposal to the board of directors of the general partner of DCP Midstream offering to acquire all publicly held common units of DCP Midstream for cash.

Subject to negotiation and execution of a definitive agreement, Phillips 66 is proposing consideration of $34.75 for each outstanding publicly-held common unit of DCP Midstream as part of a transaction that would be structured as a merger of DCP Midstream with an indirect subsidiary of Phillips 66 with DCP Midstream as the surviving entity.

The proposed transaction is subject to the negotiation and execution of a definitive agreement and approval of such definitive agreement and transactions contemplated thereunder by the board of directors of the general partner of DCP Midstream and a conflicts committee thereof. The consummation of the proposed transaction would also be subject to customary closing conditions. There can be no assurance that any such approvals will be forthcoming, that a definitive agreement will be executed or that any transaction will be consummated.

Phillips 66 engaged Barclay's Capital Inc. as financial advisor and Bracewell LLP as legal counsel.

As per MRC, Phillips 66 signed a letter of intent with FreeWire Technologies in support of its first electric-vehicle charging program in the United States. The announcement highlights Phillips 66’s commitment to pursue lower-carbon solutions and comes as an endorsement of FreeWire’s ultrafast, battery-integrated charging technology. The two companies will explore opportunities to deploy FreeWire’s technology within Phillips 66’s U.S. fueling stations and other strategic locations.
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KBR announced its Board of Directors has declared a regular quarterly dividend of USD0.12 per share on the company's common stock, par value USD0.001 per share, to be paid on July 15, 2022, to stockholders of record on June 15, 2022, said the company.

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

The company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

As per MRC, KBR, Inc.is pleased to announce it has entered into an agreement to invest an additional USD100 million in Mura Technology (“Mura”) bringing KBR’s aggregate investment in Mura to 18.5%. This investment provides Mura incremental capital to accelerate development of its plastics recycling projects and enables KBR to participate more fully in this sustainability-focused, high growth sector. Funding is expected in two tranches with the first payment in the quarter ended June 30, 2022 and the remainder in 2023.
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