Saudi Aramco to supply full contract volumes of crude oil to 3 Asian refiners in November

Saudi Aramco to supply full contract volumes of crude oil to 3 Asian refiners in November

MOSCOW (MRC) -- Saudi Aramco has told at least three customers in North Asia they will receive full contract volumes of crude oil in November, several sources with knowledge of the matter said Reuters.

Saudi Aramco has notified at least three North Asian buyers that it will supply full contractual volumes of crude in October. The world's top oil exporter has slashed its official selling prices (OSPs) to Asian buyers for the month, the first reduction in four months. The price cut was overall in line with the market expectation as the spot premiums for the Middle Eastern crude dipped since mid-August amid an increasing number of arbitrage cargoes flowing into Asia.

We remind, Saudi Arabian Oil Company (“Aramco”) inaugurated the Aramco Research Center at KAUST (ARC KAUST), which aims to accelerate the development of low-carbon solutions for the energy industry using advanced analytics. Strategically located within the King Abdullah University of Science and Technology (KAUST), the newly established research hub deploys artificial intelligence and machine learning to develop innovative ways to advance low-carbon solutions and enable a Circular Carbon Economy.

DuPont announces global portfolio of Kevlar engineered yarns

DuPont announces global portfolio of Kevlar engineered yarns

MOSCOW (MRC) -- DuPont Personal Protection announced the launch of a new portfolio of patented DuPont Kevlar engineered yarns, which combine cut and heat-resistant soft-spun Kevlar materials, high-strength inorganic yarns, and elastic stretch-core yarns, said Hydrocarbonprocessing.

Hand injuries continue to present a significant risk to workers across industries. Selecting the appropriate protection for the task, while ensuring hand or arm protection is comfortable to wear, is key to enabling safety compliance in the workplace. Through the development of personal protective equipment solutions made with Kevlar engineered yarns, it is now possible to address multiple levels of protection without compromising on comfort and dexterity.

Kevlar engineered yarns can provide industry leading multi-hazard protection against cut, heat, flame, and electric arc hazards. This versatility is key to providing hand and arm protection which can be used across a range job tasks and industries.

The use of Kevlar engineered yarns helps enable manufacturers to increase the level of protection without significantly increasing weight and thickness. The materials are also designed to help deliver enhanced breathability and moisture management. These characteristics can contribute to greater comfort and dexterity across a variety of industries, from automotive to manufacturing and utilities.

“We’re excited to launch this new line of innovative and multi-hazard Kevlar engineered yarns. It provides our Kevlar licensee partners access to a portfolio that includes a range of protection benefits as well as affordability levels.” said Joel DeNardis, global marketing leader, Kevlar Industrials. “Our mission is to provide innovative technology and protection solutions. Every day we strive to deliver the hand and arm protection workers need so they can do their job comfortably and safely, enabling them to go home to their friends, families, and loved ones in the same way they came to work.”

To address specific needs across industries, the Kevlar engineered yarns portfolio delivers next-generation performance across 3 new brands – Kevlar Xtreme, Kevlar Comfort, and Kevlar Essential yarns.

As per MRC, DuPont announced completion of the previously-announced sale of its Biomaterials business unit, effective May 31, 2022, to the Huafon Group for a purchase price of approximately USD240 mln. The results of operations of the Biomaterials business unit were previously reported in Corporate & Other. For full year 2021, the Biomaterials business unit recorded net sales of approximately USD200 million.

TotalEnergies accelerates refinery wage talks as fuel supply shrinks

TotalEnergies accelerates refinery wage talks as fuel supply shrinks

MOSCOW (MRC) -- TotalEnergies offered to bring forward wage talks, in response to union demands, as it sought to end a strike that has disrupted supplies to almost a third of French petrol stations and led the government to tap strategic reserves, said Hydrocarbonprocessing.

"Provided the blockades will end and all labour representatives agree, the company proposes to advance to October the start of mandatory annual wage talks," it said in a statement. The talks were initially scheduled to start in mid-November.

Union representatives earlier told Reuters the strikes staged by the CGT, historically one of France's more militant unions, would continue. They have disrupted operations at two ExxonMobil sites as well as at two TotalEnergies sites. Over roughly two weeks of industrial action, France's domestic fuel output has fallen by more than 60%, straining nerves across the country, as waiting lines grow and supplies have run dry.

Almost a third of France's petrol stations had problems getting deliveries of at least one fuel product on Sunday, up from 21% the day before, the office of the energy minister said. France has released strategic reserves and raised imports, Energy Minister Agnes Pannier-Runacher said in a statement, adding these should mean the supply situation improves on Monday.

Speaking to BFM TV, she welcomed TotalEnergie's offer and said she expected a move from ExxonMobil's Esso France unit "so that the French people are not taken hostage by this social dispute and can go to work with confidence".

Esso France, ExxonMobil's local unit, said it would hold a new round of wage talks with unions on Monday "with the aim of enabling the group's refineries to resume operations as soon as possible." Wage talks have been underway for weeks at ExxonMobil, while the CGT at TotalEnergies said it has been trying to get the management to the negotiation table earlier than formal talks scheduled next month.

Workers at TotalEnergies are seeking a 10% pay rise starting this year after a surge in energy prices led to huge profits that allowed the company to pay out an estimated eight billion euros ($7.8 billion) in dividends and an additional special dividend to investors.

The company's CEO last week said "the time has come to reward" workers, but the company had refused to start negotiations. A CGT representative said the union would not make any official comment on TotalEnergie's offer before internal discussions and informing workers. The CFDT union, France's largest, which chose not to call for strikes despite demanding a similar pay rise, said in a statement it was prepared to start wage talks in October.

We remind, the Flemish government recently awarded TotalEnergies the contract to install 1,500 electric vehicle charging points in Antwerp. In the heart of Europe and in Belgium's most populous city, the company is reinforcing its commitment to offering and developing sustainable mobility, with the aim of becoming Belgium's leading company in the public charging market by 2024.

Shell down as Q3 update disappoints

Shell down as Q3 update disappoints

MOSCOW (MRC) -- Shell PLC said that it expects integrated gas trading and optimization results to fall on quarter, along with refining margins, but for market results to rise, said the company.

Shares at 0714 GMT were down 69.0 pence, or 2.9% at 2309.5 pence. The energy group said production for the third quarter in Integrated Gas is anticipated to be between 890,000 and 940,000 barrels of equivalent oil per day. It said it expects a third-quarter pretax depreciation between USD1.3 billion and USD1.7 billion.

Trading and optimization results for its Integrated Gas segment are expected to be lower compared with the second quarter of 2022, as a result of seasonality and substantial differences between paper and physical realization in a volatile and dislocated market.

In the chemicals and products division, the indicative refining margin is USD15 a barrel, compared with USD28 a barrel in the prior quarter. The company expects the decreased margin to have a negative impact of between USD1.0 billion and USD1.4 billion on adjusted earnings for products.

The indicative chemical margin is expected to swing to negative USD27 per ton, compared to positive USD86 a ton; the swing is expected to hit third-quarter adjusted earnings in chemicals by between USD300 million and USD600 million.

Upstream production is expected to be between 1.75 million and 1.85 million barrels of oil equivalent a day, and it expects a pretax depreciation between USD3.0 billion and USD3.4 billion. Marketing results are expected to be higher than in the second quarter, with oil products sales volumes expected to reach between 2.35 million and 2.75 million barrels of oil a day, the company said.

We remind, Mitsui Chemicals has asked Shell Catalysts & Technologies for its Shell S-896 catalyst, which is expected to provide important economic benefits from raw material (ethylene) savings and also help the organization meet the decarbonization goals for their ethylene oxide (EO) refinery in Osaka, Japan.

Ineos Styrolution launches bio-attributed ABS resins

Ineos Styrolution launches bio-attributed ABS resins

MOSCOW (MRC) -- Ineos Styrolution has developed what officials claim are the world's first fully bio-attributed ABS resins, said the company.

The new ECO B line is part of Ineos Styrolution's Terluran-brand ABS portfolio. Officials with Ineos Styrolution in Frankfurt, Germany, said in a news release that the new grades complement previous mechanically recycled Terluran ECO materials.

Officials described the new ABS grades as "the final jigsaw piece" in Ineos Styrolution's polystyrene and ABS portfolio, which now consists of mechanically recycled and bio-attributed solutions for all three of the firm's products lines.

The new ECO B grades are based on renewable feedstock according to an ISCC-certified mass balance approach. The new feedstock can be used as a replacement for conventional feedstock for all three components in ABS, acrylonitrile, butadiene and styrene monomer.

Officials said this approach maximizes the renewable feedstock in the material while minimizing the CO2 footprint. One of the new grades contains bio-attributed content from styrene monomer from renewable sources. The other new grade contains a complete bio-attributed solution with bio-attributed content from all three monomers.

Terluran is used in a broad range of applications, including automotive, household, electronics, construction, toys, and sports and leisure. "This new bio-attributed standard ABS rounds up our range of sustainable Terluran solutions," ABS Product Director Yohann Bach said. "I expect it to be particularly interesting for customers with very ambitious sustainability goals minimizing their ecological footprint while not compromising on performance."

Officials added that all of Ineos Styrolution's bio-attributed products have identical physical and mechanical properties as their counterparts based on conventional feedstock. Ineos Styrolution is a global leader in styrenic materials, operating 20 production sites in 10 countries. The firm employs 3,600 and posted sales of almost USD6 billion in 2021.

As per MRC, INEOS Styrolution, the global leader in styrenics, has introduced a lineup of commercially available sustainable polystyrene products that is second to none. The new products provide customers a choice to select the best fit for their application. The complete lineup introduced today follows initial announcements on mechanically-recycled polystyrene solutions in 2021[1]. The new “ECO” products offer the performance of the respective virgin products, but with a significantly lower CO2 footprint. All products are drop-in solutions.