Phillips 66 announces quarterly dividend

Phillips 66 announces quarterly dividend

The board of directors of Phillips 66 has declared a quarterly dividend of USD1.05 per share on Phillips 66 common stock, said Polymerupdate.

The dividend is payable on June 1, 2023, to shareholders of record as of the close of business on May 22, 2023.

We remind, Phillips 66 beat Wall Street's estimate for first-quarter profit due to elevated margins on sustained fuel demand amid tight crude supplies. The company's shares rose 1.3% to USD95.98 in morning trade. Profits from turning crude oil into gasoline, diesel and jet fuel surged as supplies remained tight due to pandemic-era closure of facilities and a recovery in demand. Margins were also supported by Russia's invasion of Ukraine last year that further tightened supplies. Realized margins soared 91% to USD20.72 per barrel in the first quarter from a year earlier, Phillips 66 said.

Phillips 66 manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future.

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Axens to provide technologies for sour gas processing plant in Canada

Axens to provide technologies for sour gas processing plant in Canada

Axens has been selected to supply the technologies for the acid gas removal unit (HySWEETTM) and the sulfur recovery unit (SmartSulf) of the Albright sour gas processing plant to be constructed by CSV Midstream Solutions Corp. in Alberta, Canada, said Hydrocarbonengineering.

For the acid gas removal unit, Axens licensed the HySWEET technology in order to process 152 million ft3/d of natural gas. HySWEET is a hybrid process for simultaneous removal of mercaptans and acid gases from natural gas, developed by TotalEnergies and commercialised by Axens.

For the sulfur recovery unit, Axens licensed the SmartSulf technology to handle the acid gas from the HySWEET in order to remove 370 tpd of sulfur and achieve a sulfur recovery of 99.5+%. Axens' scope of work includes the supply of the process design packages, the supply of the specific equipment for the SmartSulf unit as well as full services from plant personnel training to unit start-up.

Both units are now under process design phase and commissioning is expected for the end of 2024.

“CSV thoroughly evaluated a number of processing technology options prior to selecting the HySWEET and SmartSulf processes for our Albright sour gas processing plant. Throughout the evaluation, Axens and TotalEnergies were exceptionally cooperative and transparent, providing CSV with the confidence that the technologies were the right choice for our facility. Further to that, the benefit of working with one process licensor for both technologies provides significant synergies that allow for a streamlined project execution. The HySWEET technology’s ability to minimise hydrocarbon co-absorption will bring operational benefits to our sulfur recovery unit, while the SmartSulf unit will provide best-in-class sulfur recovery metrics with a smaller footprint and reduced CAPEX and OPEX”, says Dan Cote, CSV’s Director, Projects.

“We are proud of having been selected by CSV Midstream Solutions for this project. The specific Axens’ process scheme combining a HySWEET unit followed by a SmartSulf unit provides a very competitive solution in terms of simplicity, CAPEX and OPEX as well as emissions mitigation for the Albright sour gas processing plant. We are confident that this is the start of a great collaboration between CSV, TotalEnergies and Axens” says Jacques Rault, Axens’ Executive VP Technology & Technical Support.

“This commercial success crowns the development of the HySWEET technology. This solvent relies on a hybrid formulation developed by TotalEnergies R&D to simultaneously remove H2S, CO2 and organic sulfur species such as mercaptans while reducing the carbon footprint of the gas treatment. It illustrates TotalEnergies' expertise and commitment to finding technical solutions that reduce the environmental impact of gas as an energy of transition” says Marie-Noelle Semeria, TotalEnergies's Chief Technology Officer.

We remind, Axens has acquired stakes in the BioTJet project, the aim of which is to build and operate the largest European Sustainable Aviation Fuel (SAF) production unit using the Fischer-Tropsch process, relying on the BioTfueL technology. This unit will be built in France and will be started up by 2027.

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Alujain selects Lummus for new propylene plant in Saudi Arabia

Alujain selects Lummus for new propylene plant in Saudi Arabia

Saudi Arabia's Alujain National Industrial Co has selected Lummus Technology's C3 Catofin propane dehydrogenation (PDH) technology for its new propylene plant in Yanbu, Saudi Arabia, said the company.

This is the first time Alujain will licence Lummus' PDH technology at its Yanbu complex. Lummus Technology is a global provider of process technologies and value-driven energy solutions.

"We are excited that Alujain has selected Lummus' PDH technology and look forward to supporting their growth and expansion in petrochemicals," said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology.

"Alujain will be able to leverage the technology's requisite reliability, low cost and reduced energy consumption to help them expand its propylene production in Saudi Arabia and achieve a competitive advantage in the market."

The scope of this award includes the technology licence and basic engineering. Once complete, the plant will produce 600,000 MTA of propylene, which will serve as feedstock for Alujain's new downstream polypropylene production.

In addition to the licensed technology, Alujain will have access to Lummus' portfolio of lifecycle services during the operation phase of the plant. This includes advanced operator training simulators, extended technical support and digitalisation services.

Lummus is the exclusive licensor for the on-purpose propylene Catofin technology, which also utilises Clariant's high-performance catalysts. With over 50 licensed Catofin plants, Lummus is the leader in on-purpose propylene technology, which is recognized worldwide for low operating costs and on-stream reliability while meeting or exceeding nameplate capacity.

We remind, Lummus Technology, a global provider of process technologies and value-driven energy solutions, and Texplore Co., Ltd. , a wholly owned subsidiary of SCG Chemicals Public Co., Ltd., announced a commercial cooperation agreement to license and market EXCENE, Texplore's high-density polyethylene technology.

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Vopak unveils new storage facility for waste-based feedstocks in Rotterdam

Vopak unveils new storage facility for waste-based feedstocks in Rotterdam

Vopak NV (Rotterdam) has formally opened 16 new storage tanks with a combined capacity of 64,000 cubic meters at its Vlaardingen terminal in the port of Rotterdam, said the company.

The tanks are designed to store waste-based feedstocks, primarily for the production of biodiesel and sustainable aviation fuel (SAF), to help meet rising demand for renewable energy sources in Europe, it said. Vopak’s terminal at Vlaardingen has a long-term commercial agreement with Shell to store the feedstocks for Shell’s new biorefinery in Rotterdam, it said.

Vopak started repurposing part of the terminal for waste-based feedstocks in 2021 and has invested approximately EUR90 million in new infrastructure, it added.

We remind, Royal Vopak and AltaGas Ltd. are pleased to announce the execution of definitive agreements for a new 50/50 joint venture to further evaluate development of the Ridley Island Energy Export Facility (REEF), a large-scale liquefied petroleum gas (LPG) and bulk liquids terminal with marine infrastructure on Ridley Island, British Columbia, Canada.

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SABIC opens European pipe innovation center at Geleen

SABIC opens European pipe innovation center at Geleen

SABIC, a global leader in the chemical industry, officially opened its European Pipe Innovation Center, said the company.

The new Center is located near SABIC’s manufacturing site at Geleen, The Netherlands, and compliments the company’s existing Pipe Innovation Centers in Saudi Arabia and China. With customized pipe material development, testing, sampling and validation capacities, it will enable SABIC to collaborate with European pipe manufacturers closer and more effectively than ever before.

Lina Prada, Director Polymer Application Development & Industry Solutions at SABIC, says: "Global urbanization and population growth are driving the demand for plastic pipes and innovative new pipe solutions in a wide range of infrastructural, domestic, industrial, agri- and aquacultural market segments. We at SABIC have been bringing advanced solutions to the pipe industry for many years. Keeping the edge on innovation requires continuous development of our competences and capabilities. Our new Pipe Innovation Center in Geleen and its dedicated team are a good demonstration of our commitment to keep developing those sustainable solutions."

SABIC’s European Pipe Innovation Center is fully equipped for extensive pipe testing according to relevant international standards. Material testing facilities include full notch creep, strain hardening, tensile, rheological and impact testing. Pipe testing capacities span from internal pressure to notched pipe to small-scale steady-state (S4) rapid crack propagation testing. Another focus of the Center’s activities will be to accelerate the adoption of certified circular polymers from SABIC’s portfolio in new and more sustainable pipe developments.

At Geleen, the Pipe Innovation Center team will be able to link its activities more effectively with the pipe polymer development on site and solve even the most complex customer challenges within fast turnaround times. In addition, it will support advanced pipe concepts in collaboration with value chain partners across the European pipe industry. Its close location to major pipe markets as well as to the Brightlands Chemelot industrial park with its focus on chemistry and new materials and to industry relevant universities at Eindhoven and Aachen provides the perfect eco-system for pipe innovations.

Khalid Al-Bani, Global Leader Segment Pipe & Utilities at SABIC, comments: "With customized pipe material development, testing, sampling and validation capacities, the Pipe Innovation Center will enable SABIC to collaborate with European pipe manufacturers closer and more effectively than ever before."

During the opening event, which takes place today May 09 and tomorrow May 10, visitors are given the opportunity to explore the extensive polyolefin resin development and extrusion capabilities of the center, which will be available for sampling and validation as well as for small batch to upscaled production volumes.

On the first opening day, keynote speakers from SABIC will explain the company’s strategicfocus and commitment to excellence in the pipe industry, followed by a tour of the Pipe Innovation Center and other related technology facilities, including the SABIC Technology Center Geleen. The second opening day is dedicated to detailed presentations on the past, present and future of plastic pipes, on new biaxially oriented pressure pipe technology and on pipe challenges with regard to energy transition, circularity and decarbonization. The opening will conclude with a panel discussion on the impact of the energy transition and drive towards circularity on the pipe industry.

SABIC offers a vast portfolio of pipe materials to help designers and contractors build a better future. Recent innovations include SABIC® RELY 5944HT, a high-density polyethylene (PE) compound produced in bimodal technology for infrastructural pipes; a high-density PE-RT II class compound produced in an advanced multi-modal cascade process for domestic pipes; new SABIC® P1600 A polyolefin compound for abrasive slurry transportation in industrial applications such as mining and dredging; and SABIC P438J, a medium-density PE resin for use in agri- & aquaculture.

We remind, SABIC participated in a ceremony to announce the first package of Shareek projects involving large companies in Saudi Arabia. The event was held in the presence of several dignitaries, senior businessmen and heads of major companies participating in the program. During the ceremony, SABIC announced a strategic project to manufacture catalysts, aiming to transform Saudi Arabia into a manufacturing hub for specialized materials in line with the national industrial strategy.

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