Nayara Energy appoints Prasad K Panicker as Chairman

MOSCOW (MRC) -- Nayara Energy announced that Mr. Prasad K Panicker, Director and Head of Refinery would be taking over the responsibility of Chairman of the Company with effect from October 3, 2022, said the company.

Mr. Prasad K. Panicker will take on this important role from Mr. Charles Anthony (Tony) Fountain, whose 5 years of dedicated service have been landmarked by significant improvements in the level of performance and financial position of the Company. Despite a very challenging external environment, Nayara Energy has developed a clearly articulated strategy for a phased expansion into petrochemicals. The first phase of that development plan, the expansion into polypropylene, will be delivered next year.

Nayara Energy has significantly expanded and focused its CSR role with a commitment to ensure that the communities in which it operates develop and grow alongside it. Under the guidance of Mr. Fountain, the Company has established highly effective corporate governance systems, enhanced its external reputation and put in place a very strong executive team under the leadership of a highly experienced CEO, Dr. Alois Virag.

Nayara Energy wants to thank Mr. Fountain for his important contribution to steer the Company through some of the most challenging of economic cycles. Mr Fountain said, “I am deeply proud of what has been achieved at Nayara, and it has been a privilege to work with the Board in achieving this. Given the much-improved position of the company and after 5 years, now is the right time to hand on to a new leader to work with the management team and Board to deliver the next exciting phase for the Company”.

At the new stage of its growth journey, Nayara Energy would focus on implementation of its cutting-edge asset development program to transform itself into an integrated petrochemical producer, while continuing thoughtful implementation of its ESG initiatives, with strong impact on employees and local community well-being and environmental sustainability.

In his new role, Mr. Panicker will deploy his outstanding technological experience and excellent knowledge of the local Indian market to lead Nayara Energy through a new set of strategic priorities with strong focus on development projects.

Mr. Panicker will also continue with his critical leadership role as Head of Refinery, which will support hands on implementation of Nayara Energy’s ambitious development program. Mr. Panicker is well-respected within national and local authorities and has strong reputation in Gujarat State, which will assure strong CSR contribution and successful implementation of existing and new commitments.

We remind, Rosneft backed Nayara Energy, earlier known as Essar Oil, has chalked out massive expansion plans for India which include setting up of a greenfield petrochemical complex and ramping up its existing refining capacity from 20 million tonnes per annum (mtpa) to 46 mtpa at Vadinar near Jamnagar in Gujarat. The total envisaged investment for expansion, of which a major part is towards building a new petrochemical complex, is about Rs.1.5 lakh crore, they said. The expansion plans also include increasing its retail presence and additional investment at the captive port of Vadinar.

Nayara Energy is a downstream & petrochemicals company of international scale with strong presence across the hydrocarbon value chain from refining to retail. In August 2017, the company was acquired by international investors, Rosneft and an investment consortium comprising of global commodity trading firm, Trafigura and UCP Investment Group. The company owns and operates India’s second largest single site refinery at Vadinar, Gujarat with a current capacity of 20MMTPA. The refinery is one of the world’s most modern and complex refineries with a complexity of 11.8, which is amongst the highest globally.
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Shell Egypt, EGAS and Petronas have awarded a front-end engineering and design (FEED) contract to a Bechtel-led coalition that includes Enppi and Petrojet to study a proposed unified power system between the onshore gas processing plant of the West Delta Deep Marine (WDDM) gas fields in the Mediterranean Sea off the coast of Egypt, and the Egyptian LNG export terminal (ELNG) in Idku, east of Alexandria, said the company.

The FEED, for the Idku Energy Hub project, will explore the benefits of a One Power Hub concept, integrating the electrical power systems at the WDDM and ELNG, as opposed to having two separate systems. It seeks to increase the power saving and greenhouse gas (GHG) abatement benefits of unifying the electrical power systems of the onshore plants. The synergies will include optimization of the number of running gas turbine generators, modelling the most efficient operating mode for both plants, reducing GHG emissions and economizing the fuel consumption in the entire hub.

This project is part of a wider program between the coalition and the Egyptian Ministry of Petroleum and Mineral Resources (MOP) aiming to decarbonize existing oil and gas facilities across the country and deliver on its climate change strategy.

"I am so proud that the oil and gas sector is contributing significantly to achieving top strategic goals: accelerating decarbonization and economizing power consumption," His Excellency Minister of Petroleum and Mineral Resources Eng.Tarek El-Molla said. "I am pleased that our partners are taking such initiatives to promote these priorities."

"This project is a demonstration of our commitment to powering progress by providing more and cleaner energy," Eng. Khaled Kacem, Vice President and Country Chair of Shell Egypt, said. "As partners in Egypt's journey to become a regional energy hub we are also mobilizing our efforts and expertise to support the country's energy efficiency ambitions. This is also a significant step towards full implementation of the decarbonization MOU between Shell and the MOP that was signed earlier this year."

"This project is an excellent example of private and public sector partnership to support Egypt's decarbonization strategy," Paul Marsden, President of Bechtel Energy said. "Our Bechtel team is looking forward to continuing to support Egypt's climate change strategy."

Bechtel, Enppi and Petrojet will execute the FEED on a fast-track basis aiming to complete the scope of work within 2022. The project is a testimony to the operational excellence in WDDM and ELNG plants. Reducing greenhouse gas emissions and optimizing fuel consumption and running hours of the rotating equipment will enhance production and reduce operating cost.

We remind, Shell Catalysts & Technologies and Braskem agree to extend relationship. Leaders from Braskem and Shell Catalysts & Technologies (SC&T) met at Shell’s research center in Amsterdam recently to participate in a technical exchange. During the meeting, SC&T and Braskem agreed to extend their 15-year relationship for an additional five years. SC&T provides technical support and works with Braskem to improve operational performance and maintenance.
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Sinochem International, a leading company in the chemical sector in China, inaugurated its new compounding factory in Yangzhou on 18/8/22, said the company.

This new plant is an important milestone in Sinochem International’s industrial strategy in the field of engineering plastics. Hongsheng Liu, General Manager of Sinochem International, said: "The operation of the Yangzhou compounding plant has opened a new chapter in the industrialisation strategy of Sinochem International for ABS and modified materials.

In terms of ABS, we forecast a vigorous development in China of home appliances, electronic devices, automobiles and other relevant markets, with special focus on the mid and high-end market requirements”.

The new plant is located in the Yizheng Chemical Industrial Park, Yangzhou, and it is planned to build an annual capacity of 56,000 tons of ABS and PC modified materials in two phases. The plant will be operated by Sinochem Engineering Plastics (Yangzhou) Co., LTD., a wholly-owned subsidiary of Sinochem International Corporation.

The first phase of the project, which has just started its operations, has an annual capacity of 24,000 tons of ABS and modified materials. The second phase, with a capacity of 32,000 tons, is scheduled to start production in 2023.

In 2019, Sinochem International formally entered the ABS field through the acquisition of Europe's leading ABS and ABS blends manufacturer, ELIX Polymers (ELIX).

ELIX, headquartered in Spain, has more than 45 years of experience in the ABS business, with a strong market share in the European specialty ABS market. ELIX Polymers is an ABS and blends producer, well known and recognised as a benchmark in European and American markets. ELIX offers specialised and innovative solutions with best-in-class services across different industries such as automotive, healthcare, consumer goods, appliances, electro & electronics and toys.

The operation of the Yangzhou new factory is a relevant step forward in increasing ELIX’s global footprint, supporting its growth in the China market. Local production of ABS, PC/ABS and PC blends through Sinochem Engineering Plastics under ELIX brand, will enable the plant to serve the China market locally with innovative, high-quality, customised and sustainable products and services.

David Castaneda, ELIX Polymers CEO, said: “Today we embark on a new stage in this exciting journey together with Sinochem International to create a relevant player in the ABS global markets, and I am sure we will succeed”.

We remind, China's Shandong province has ordered its refineries, including three plants under state-run Sinochem Holdings, to self-inspect and self-rectify any irregular fuel tax practices. The move is part of a national clamp-down on smaller and mostly independently run refineries related to crude oil import quota usage and tax payments, as Beijing works to consolidate its bloated industry.
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KBR announced it has been awarded a study to develop a carbon-neutral, green ammonia-based power system for a semi-submersible drilling unit owned by Odfjell, said the company.

KBR will collaborate with Odfjell, Equinor and Wartsila to assess conversion of the diesel generators on board drilling units to ammonia-fueled generators.

"We are excited to be a part of a collaborative effort that will fully integrate KBR’s semisubmersible technology expertise, Wartsila’s power systems, and Odfjell’s and Equinor’s operations capabilities, all to deliver a carbon-neutral solution,” said Jay Ibrahim, president of KBR Sustainable Technology Solutions. “This project demonstrates the role ammonia can play in decarbonizing existing assets and achieving net-zero targets. We pride ourselves in driving positive change, innovation and improvement in key markets, and we are proud to support our customers across the industry in their transitions to cleaner fuel options."

KBR is the world's leading ammonia licensor and KBR’s K-GreeN® technology produces carbon-free ammonia based on electrolysis of water. K-GreeN is a viable, renewable alternative to decarbonizing the maritime and shipping industries.

KBR has been supporting Equinor and Odfjell for more than three decades with marine technology, engineering and original semi-submersible designs.

As per MRC, KBR, Inc.announced 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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INEOS Styrolution, the global leader in styrenics, has today announced the introduction of a comprehensive range of sustainable solutions for its specialty ABS product group Novodur, said the company.

The individual grades come with a significant product carbon footprint (PCF) saving of up to -71% as compared to the respective non-ECO product reference.

Like its non-ECO counterpart, the new Novodur ECO MR P2H-AT is a general purpose ABS grade providing high flowability, good stiffness and high gloss. The material is available with a 30%, 50% or 70% post-consumer mechanically recycled content. The product comes in various colours or in black and offers a PCF saving of up to 57%. A product for self-colouring is available as well.

Novodur ECO MR P2H-AT is currently under evaluation by various customers to become a material of choice for various household appliances. With Novodur ECO B P2MC B50 and Novodur ECO HD M203 FC B50, INEOS Styrolution offers two grades with 50% contribution of bio-attributed content. Both grades are available in various colours and as an NR (natural) option. PCF savings are up to -71%.

Novodur ECO B P2MC B50 has been designed specifically for electroplating making it a material of choice for various sanitary and automotive appliances. Novodur ECO HD M203 FC B50 is an attractive offering also suitable for the medical industry.

The Novodur High Heat (HH) family of products includes all ABS products modified to allow thermally stressed components to meet stringent stability requirements. Today, three sustainable grades are introduced in this product group: Novodur ECO HH-106 MR30, Novodur ECO H605 MR30 and Novodur ECO H801 MR40. PCF saving is up to -28% and the recycled content is 30% and 40%, respectively.

The products, available in black, are targeting the automotive industry, but may be of interest in other industries as well.

As per MRC, INEOS Styrolution, the global leader in styrenics, has today announced the introduction of an extension to its high-performance Novodur® line of specialty ABS products. The new Novodur E3TZ is an extrusion grade that is a suitable for a variety of applications including food trays, sanitary applications and suitcases. INEOS Styrolution’s Novodur family of ABS specialty products has been developed to offer a range of product properties making the various grades the material of choice for many applications across multiple industries. Properties like high impact strength, chemical resistance, high gloss and food contact compliancy make Novodur grades also a very attractive solution for many healthcare applications. Novodur grades are known for good flowability allowing for easy processing.
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