AkzoNobel becomes global refinish partner for electric vehicle maker BYD

AkzoNobel has become the global refinish partner for new energy vehicle manufacturer BYD Auto Sales Company Ltd. – currently the world’s leading seller of electric vehicles, said the company.

The company has been a recommended supplier of vehicle refinish products and services to BYD in China since 2017. The new deal means that agreement will continue, while extending the partnership to serve BYD’s bodyshops and approved repairer networks worldwide.

Originally a battery maker, BYD now has more than 1,180,000 new energy vehicles in operation, having been ranked first in China’s electric vehicle sales for six consecutive years (2014 to 2019).

“We’re delighted to broaden our partnership with BYD globally and together push ahead with our shared ambition of reducing carbon emissions,” says Patrick Bourguignon, Director of AkzoNobel’s Automotive and Specialty Coatings business. “Making transport more sustainable is a major driving force behind our innovation and BYD will benefit from a host of digital tools and cutting-edge services, as well as our class-leading vehicle refinish systems.”

One of these tools will include the recently launched CO2eRepairCalculator – the vehicle refinish industry’s first repair system designed to measure, manage and reduce carbon emissions. It’s part of a new initiative which aims to encourage bodyshops to become more sustainable.

Other digital solutions being provided include MIXIT, AkzoNobel’s leading digital color identification and retrieval application. Meanwhile, the company’s Wanda brand will continue to be supplied in China, with plans to supply Sikkens and Lesonal globally.

Adds Bourguignon: “We look forward to supporting BYD with its pioneering work in the eMobility space, while underlining our own commitment to halving our carbon emissions across the full value chain by 2030.”

We remind, AkzoNobel bolsters its performance coatings portfolio after reaching an agreement to acquire the wheel liquid coatings business of Lankwitzer Lackfabrik GmbH. Completion of which is subject to regulatory approvals, is expected before end-2022. Lankwitzer's Rims and Wheel business operates out of a manufacturing site in Leipzig, Germany. Its products are approved for use by car manufacturers such as Daimler, Audi, VW, Opel, Fiat and Renault.

AkzoNobel is a Dutch multinational company that manufactures paints and performance coatings worldwide. Headquartered in Amsterdam, the company operates in over 80 countries and employs approximately 35,700 people. Turnover in 2017 amounted to 9.61 billion euros.


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Petrobras has started the teaser disclosure stage regarding the sale of its entire shareholding in methanol importer and distributor Metanor, said the company.

Metanor is a corporation jointly controlled by Petrobras and Dexxos Participacoes. Petrobras currently holds a 50% share of the ordinary shares in Metanor.

Metanor operates through its subsidiary Copenor in the segments of methanol commercialisation and production of its derivatives, notably formaldehyde and hexamine.

Metanor is headquartered in Camacari in the state of Bahia.

We remind, Petrobras said it has signed a contract to sell the REMAN refinery in the northern state of Amazonas for USD189.5 MM to Ream Participacoes S.A., a subsidiary of distributor Atem. In a separate filing, however, the company formally known as Petroleo Brasileiro SA said it had failed to secure a buyer for the Abreu e Lima (RNEST) refinery after the interested firms declined to offer a bid. Petrobras said it would end the sale process, and analyze its next steps.

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ExxonMobil said that Jim Chapman has been appointed vice president, Tax and Treasurer, effective November 28, 2022, said the company.

Chapman replaces Jaime Spellings, who has elected to retire after 31 years of service with the company. Chapman joins ExxonMobil from Dominion Energy, Inc. where he served as executive vice president and chief financial officer since 2018. He previously held the role of senior vice president and treasurer at Dominion. He also held several senior finance positions at Barclays Investment Bank and Lehman Brothers in Asia and the United States. Chapman began his career with Ernst & Young in Russia. He earned a bachelor’s degree in history and political science from Auburn University and a master’s of business from the University of Virginia’s Darden School of Business.

Spellings was appointed general tax counsel in 2010 and was elected vice president of Tax and Treasurer’s in 2020. He joined Exxon Company USA in 1991 and has held managerial positions with increasing responsibility in finance, tax and planning, including assignments in the U.S., United Kingdom and Thailand. Spellings graduated from University of Pennsylvania Wharton School of Business with a bachelor’s degree in business and economics, and he earned a J.D. from the University of Texas at Austin.

We remind, ExxonMobil Corp agreed to sell its Billings, Montana, refinery and related pipeline properties to Par Pacific Holdings Inc for USD310 MM. The sale ends a years-long effort by the U.S. oil giant to further reduce its refining footprint and concentrate production on plants along the U.S. Gulf Coast and in the Midwest. It also has been selling oil producing properties to boost returns.

Exxon Mobil Corporation is an American company, one of the largest oil companies in the world, one of the largest corporations in the world in terms of market capitalization. The company's headquarters is located in Irving, a suburb of Dallas, Texas.

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U.S. oil refiners this quarter will run their plants at breakneck rates, near or above 90% of capacity, as tight fuel supplies spur high profits and operating rates, according to company forecasts and analysts surveyed by Reuters.

The refining industry has minted huge profits this year on buoyant demand for gasoline, diesel and jet fuel. Fourth-quarter outlooks should keep earnings high even as gasoline consumption slips during the winter.

Largest U.S. refiner Marathon Petroleum Corp aims to operate its system at 93% of combined oil processing capacity, a cooler pace as it completes maintenance work at some plants. It ran at 98% of capacity last quarter.

Second-largest Valero Energy plans to run at between 91% and 95% of capacity this quarter, while LyondellBasell Industries targets an above 90% rate, and Phillips 66 projects a low-to-mid 90% run rate, according to figures released by the companies.

Sixth-largest U.S. refiner PBF Energy has not disclosed its plan. On Oct. 25, finance chief Erik Young said the company had the cash and borrowing power to "operate our refining system at elevated utilization rates."

PBF restarted units idled during the pandemic at its Paulsboro, N.J., plant to produce more diesel and jet fuel, with the company's refineries running at a record-high 980,000 barrels per day last quarter, Young said.

Overall, refiners are forecasting production will remain close to third quarter levels, which averaged 92.75%, said Matthew Blair, refining analyst at researcher Tudor Pickering & Holt. If refiners overall hold their production flat "that would be really strong,” Blair said.

The plans reflect robust demand for diesel and jet fuel with U.S. inventories below the five-year average, said John Paisie, president of energy consultancy and researcher Stratas Advisors.

Diesel stocks in particular “are well below typical levels and are running at some 20% below the seasonal average,” Paisie said. He expects utilization in the U.S. "will continue to be relatively high and will average around 90% in 4Q.”

We remind, Britain has sanctioned four Russian steel and petrochemical business owners, including the former head of steel producer Evraz, the government said on Wednesday, its latest measures taken against Moscow over the war in Ukraine.
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Honeywell and Aramco have announced the signing of a joint venture agreement to provide a set of end-to-end business process automation solutions, under the Aramco Namaat Industrial Investments Program, said Hydrocarbonprocessing.

The technology solutions can be offered to a wide range of industrial sectors to help maximize profitability, improve productivity, sustainability and operational excellence, on a global scale. The new JV offerings will leverage Aramco’s Plant.Digital platform (formerly Integrated Manufacturing Operations Management System – iMOMS) as well as Honeywell Connected Enterprise’s technology development and industrial digital solutions implementation experience.

The JV aims to equip industrial companies with the tools, processes and practices they need to run plant operations more effectively and accelerate sustainable digital transformation and operational excellence initiatives. It will emphasize the development, integration, and deployment of Operations Technology (OT) solutions and Digital Transformation consulting.

“This JV agreement with Honeywell is expected to bring new jobs to the market, contribute to economic growth and serves as another way in which Aramco continues to pursue its Digital Transformation program as part of its evolution to become the world’s leading digitalized energy corporation,” said Ahmad Al Sa’adi, SVP Technical Services at Aramco.

The JV offering combines Aramco’s Plant.Digital platform and its technical and domain knowledge in end-to-end plant operations with Honeywell’s global software development, systems integration capabilities and commercialization expertise to help industrial companies become more sustainable while maximizing yield, reducing downtime, improving plant productivity and increasing profit.

“The powerful combination of Aramco’s business, operations, technology and Plant.Digital delivery expertise, coupled with Honeywell’s proven experience in industrial software and big data analytics solutions, as well as our long tenure in the Kingdom, is anticipated to unlock tremendous value for the industry,” said Kevin Dehoff, president and CEO, Honeywell Connected Enterprise.

The new JV is expected to create more than 300 jobs in Saudi Arabia within five years, supporting the Aramco Namaat Industrial Investments Program, which is designed to boost Saudi economic and workforce development.

The collaboration highlights the efforts of Aramco and Honeywell to support Saudi Vision 2030 – the national roadmap to transform the Kingdom into an industrial powerhouse and a global logistics hub. The vision’s focus is on developing high-tech and knowledge-based careers that add significant value to the Saudi economy to compete globally.

Honeywell and Aramco have partnered for more than 60 years to drive Saudi Arabia’s industrial leadership forward through technology and innovation. This JV is the latest milestone in that journey, building on an MoU signed between Honeywell and Aramco in September 2021 to explore the co-development and commercialization of a next-generation digital technology solution for industrial companies. Closing of the joint venture is subject to certain regulatory approvals and other customary closing conditions. The companies also signed an MoU in 2017 to explore the benefits of Honeywell's Industrial Internet of Things (IIoT) offering in support of Saudi Vision 2030.

As per MRC, Saudi Aramco's net profit rose by 39.5% year on year to Saudi Riyal (SR) 159.1bn in the third quarter on the back of higher crude oil prices and volumes sold. Net income growth in the third quarter was partially offset by increased production royalties largely attributable to higher average effective royalty rate resulting from stronger crude oil prices and higher sales volumes, the company said in a filing to the Saudi bourse, Tadawul.
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