China and India easing away from Russian crude oil may be temporary

China and India easing away from Russian crude oil may be temporary

MOSCOW (MRC) -- There are signs that China and India are pulling back from buying Russian crude oil ahead of the Group of Seven nations' proposed price cap and a European Union ban on imports, said Reuters.

However, the more important question for the market is whether any slowing by China and India of purchases from Russia is a temporary factor that will be reversed once participants figure out how to work with, or around, the price cap.

China, the world's largest crude oil importer, and India, the third-biggest, have increasingly turned to Russian crude this year, buying cargoes at steep discounts as Moscow sought to keep up export volumes after Western countries shunned its oil.

The G7 price cap and the EU ban on imports are aimed at cutting the revenue Russia receives from its exports of crude oil and products and are part of efforts to punish Moscow for its Feb. 24 invasion of Ukraine. Russia calls its actions there "a special operation".

Chinese refiners have begun slowing their purchases of Russian crude for December arrivals, according to traders and industry players in China.

The reduced volumes from Russia for December come after several months of strong imports. China is forecast to bring in 1.80 million barrels per day (bpd) of Russian crude in November, up from October's 1.69 million bpd and in line with September's 1.82 million bpd, according to data compiled by Refinitiv Oil Research.

It is also likely that Russia will overtake Saudi Arabia as China's biggest supplier of crude in November, with the two leading members of the OPEC+ group having swapped the top spot several times so far this year.

We remind, China’s State Administration for Market Regulation has approved unconditionally the acquisition deal of Shanghai SECCO Petrochemical between Sinopec and INEOS. Sinopec and INEOS in July this year announced the transaction, under which INEOS will take over 50% of SECCO from Sinopec.

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Covestro receives ISCC PLUS certification for the sales of bio- and bio-circular attributed TDI and MDI in Brazil

Covestro receives ISCC PLUS certification for the sales of bio- and bio-circular attributed TDI and MDI in Brazil

MOSCOW (MRC) -- Covestro has reached another important step towards its path to circularity, with the ISCC PLUS1 certification in Brazil for the sales of bio-2 and bio-circular2 attributed diphenylmethane diisocyanate (MDI) and toluylene diisocyanate (TDI), said the company.

With this important milestone the company is expanding its sustainable efforts in one of the biggest and most important markets in Latin America.

Such achievement serves as a clear proof point of the company?s commitment towards circularity, leading the transition within the different segments served by Covestro not only in Brazil, but also in important countries such as Chile, Uruguay, Colombia, Argentina and Costa Rica, among others.

"This is an extremely important step for us as it makes the transformation towards the circular economy tangible, supporting our customers in achieving their sustainability goals and accelerating the substitution of fossil raw materials", says Andreas Stumpf, Managing Director of Covestro Brazil.

ISCC PLUS certification contributes to more sustainable production processes and markets, increasingly encouraging the participation of supply chain entities. At a local level, the certification can make fairer work relationships, more efficient processes and promote the reduction of greenhouse gas emissions and the use of fossil resources, while expanding the possibilities for the international market, mainly the European one.

"The Brazilian certification project of Covestro shows that it is possible to contribute to more sustainable production even in complex production chains with materials of different origins and destinations. It is another important step in promoting genuinely sustainable production chains", states Felipe Bottini, founding partner at Green Domus, ISCC recognized certification body in Brazil.

We remind, Covestro AG (Leverkusen, Germany) broke ground in Antwerp, Belgium for a new world-scale production facility for the manufacture of aniline. With the Covestro breaks ground in Antwerp for new aniline plant.

Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, cosmetics and health, as well as in the chemical industry itself.
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TotalEnergies increases its production of high-performance recycled polymers for automotive

TotalEnergies increases its production of high-performance recycled polymers for automotive

MOSCOW (MRC) -- TotalEnergies announces the construction of a new production line of high-performance recycled polypropylene for automotive in its polymer plant in Carling, France, said the company.

Since 2016, the Carling – Saint-Avold petrochemical platform is producing value-added compounds primarily intended for the automotive industry. The startup of a new line dedicated to hybrid compounds will consolidate the platform’s position of a leading polymers site in Europe.

With commissioning scheduled for 2024, the flexible line will produce 15,000 tons per year of polypropylene compounds containing up to 100% recycled plastic materials. Part of TotalEnergies’ recently launched RE:clic portfolio, and more precisely the RE:use polymers range obtained through a mechanical recycling process, these low-carbon materials meet the highest quality standards and technical requirements for automotive.

Recycling both post-consumer wastes and end-of-life automotive parts, the line will contribute to address the challenge of the circular economy in Europe.

"After the doubling of capacity at Synova, a subsidiary of TotalEnergies and the French leader in the production of recycled polypropylene, this investment further strengthens the Company’s leading position in high value-added recycled polymers. This new line will allow us to meet the growing demand from the automotive market for more efficient and sustainable polymers, in line with our ambition of producing 30% circular polymers by 2030,” said Nathalie Brunelle, Senior Vice President, Polymers at TotalEnergies.

We remind, Air Liquide and TotalEnergies plan to produce low-carbon hydrogen at the Grandpuits site in France, the pair said on Tuesday, as France looks to increase its sources of renewable energy. Under a long-term contract committing TotalEnergies to purchase the hydrogen produced for the needs of its platform, Air Liquide will invest over EUR130 million in the construction and operation of a new unit producing hydrogen.
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BP Rotterdam refinery resuming some operations

BP Rotterdam refinery resuming some operations

MOSCOW (MRC) -- Operations are resuming at BP's large Rotterdam refinery, a spokesperson confirmed on Saturday, said Reuters.

The refinery has been idle for a week amid a dispute with workers over pay. A spokesperson for unions said earlier on Saturday that workers are planning to restart some operations on Monday.

"We are happy to report that operations at the BP Rotterdam refinery resumed today," the BP spokesperson said in an e-mailed statement.

"We are still in dialogue with the unions to reach an agreement."

We remind, BP refinery in Rotterdam processes about 400,000 barrels of oil annually and is an important supplier of diesel to Northern Europe. BP's final offer in talks over a new collective labor agreement under discussion since April had been for a 5% wage increase and one-off bonus of 4,000 euros (USD4,000).

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Covestro starts elastomer feedstock production in Thailand

Covestro starts elastomer feedstock production in Thailand

MOSCOW (MRC) -- Covestro has started up the production of naphthylen-diisocyanate (NDI) at its newly built facility in Map Ta Phut, Thailand, said the company.

The NDI production will support the manufacture of Vulkollan-branded polyurethane elastomers, which are billed as “one of the most powerful elastomers in the market,” by the German manufacturer, said Covestro in a 24 Nov statement.

Covestro broke ground on the Map Ta Phut plant in late 2020 with a “mid double-digit million euro” investment, with the aim to expand its elastomers business in the region.

“We believe in the growth of the cast elastomers market and want to meet the increasing demand,” said Sucheta Govil, chief commercial officer at Covestro.

“With this new production plant, we achieve a significant improvement of our global infrastructure and strengthen our presence for high-performance elastomers in the Asia-Pacific region," she added.

The expansion, she said, will aim to support industries with high-end performance requirements. According to Covestro, the Volkollan elastomer combines “highest mechanical load-bearing characteristics with highest dynamic load-bearing capacity” as an “ultra-high-performance elastomer”.

"The start up of our Map Ta Phut plant is the latest step of several investments in our elastomers business to support the Vulkollan brand," said Thomas Braig, head of the business entity elastomers.

"We firmly believe in the strong potential of this historic and well-known brand and are prepared, with this investment, for its future growth and the development of its customers."

The facility in Thailand now employs 25 people.

The elastomers produced from the raw material are suitable for applications including in forklift wheels, roller coaster wheels as well as couplings and seals for the engineering industry.

We remind, Covestro AG (Leverkusen, Germany) broke ground in Antwerp, Belgium for a new world-scale production facility for the manufacture of aniline. With the Covestro breaks ground in Antwerp for new aniline plant.

Covestro is one of the world’s leading manufacturers of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, cosmetics and health, as well as in the chemical industry itself.

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