BASF launches renewable sourced acrylic binders for architectural coatings

BASF launches renewable sourced acrylic binders for architectural coatings

MRC -- BASF launches the Acronal MB portfolio of acrylic binders for architectural coatings in North America, said the company.

These binders offer the same quality and performance as the existing Acronal products, with the added benefit of a reduced CO2 footprint for a more sustainable can of paint. BASF's biomass balance approach, certified by REDcert2, allows the use of sustainably sourced bio-feedstocks to replace the fossil-based raw materials required in the manufacturing of Acronal products.

Since the renewable raw materials are substituted early in the value chain, the resulting Acronal MB binder is chemically equivalent to its fossil based Acronal product and no reformulation is required.

In the architectural coatings industry, the majority of greenhouse gas emissions come from indirect sources in the value chain, including purchased raw materials. By incorporating Acronal MB acrylic binders into architectural formulations, BASF enables its customers to significantly reduce the product carbon footprint in their can of paint.

We remind, BASF is continuing its commitment to affordable solutions for growers by once again offering low-interest financing of BASF products. BASF’s 2024 Grower Finance Program will offer growers 1.99% APR on all participating BASF products through March 15, 2024, significantly less than current U.S. interest rates. Financing for BASF cotton seed will remain at 0% APR.

Russia's September fuel oil and VGO exports to India hit record high

Russia's September fuel oil and VGO exports to India hit record high

MRC -- Russia has sent record volumes of sea-borne fuel oil and vacuum gasoil to India in September, replacing some crude oil volumes, traders said and LSEG data showed, said Hydrocarbonprocessing.

The move will cement India's position as the top buyer of Russian crude and products at the expense of shipments by previously dominant OPEC producers, allowing Moscow to collect stable and rising revenue despite Western sanctions. India has also become a major exports of fuels to Europe on the back of refining cheaper Russian barrels.

The European Union's full embargo on Russian oil products came into effect on Feb. 5 and the bulk of Russia's fuel oil and VGO was redirected to other regions, mostly Asia. In September, fuel oil and VGO shipments from Russian ports to India totaled 1.4 million metric tons after 0.7 million tons in August, according to LSEG data and Reuters calculations. Most of those cargoes will arrive at Indian ports in October.

In total, Russian fuel oil and VGO exports to India have exceeded 5.5 million tons between January and September, 2023 versus 2.5 million tons in the first nine months of 2022. India buys straight-run fuel oil and VGO for refining, partially replacing more expensive Urals barrels, market sources added.

United Arab Emirates, China, Singapore and Malaysia are also among the big importers of Russian fuel oil and VGO, accounting in total about 1.3 million metric tons in September, according to LSEG data and Reuters calculations.

Croatia, which is allowed to buy Russian VGO under EU embargo terms, increased vacuum gasoil imports last month twice to August to 66,000 metric tons and purchased another 66,000 tons in October, shipping data showed.

Russia also exports in September about 160,000 tons of fuel oil to Senegal, which buys it for power generation, according to data from LSEG and market sources. No cargoes with fuel oil or VGO from Russian port were seen heading to Saudi Arabia last month after record volumes in June and July.

We remind, Russian wholesale gasoline prices were steady, while diesel prices edged up amid government efforts to ensure stability on the domestic fuel market. Gasoline Ai-92 grade prices were down 0.04% on the day at 50,629 roubles ($544.87) per metric ton, data from the St Petersburg International Mercantile Exchange (SPIMEX) showed. Diesel prices rose by 0.15% on the day to 56,377 roubles per metric ton, exchange data showed. For the week, gasoline prices declined by 2.45%, while diesel decreased by 2.18%.

TechnipFMC reported Q3 2023 results

TechnipFMC reported Q3 2023 results

MRC -- TechnipFMC reported third quarter 2023 results, said the company.

Total Company revenue in the third quarter was $2,056.9 million. Income from continuing operations attributable to TechnipFMC was $90 million. These results included after-tax charges and credits totaling $3.7 million of expense, or $0.01 per share.

Adjusted income from continuing operations was $93.7 million, or $0.21 per diluted share.

Adjusted EBITDA, which excludes pre-tax charges and credits, was $237.5 million; adjusted EBITDA margin was 11.5 percent.

Included in total Company results was a foreign exchange loss of $46.4 million, or $39.1 million after-tax. When excluding the after-tax impact of foreign exchange of $39.1 million, income from continuing operations was $129.1 million. Adjusted EBITDA, excluding foreign exchange, was $283.9 million.

We remind, TechnipFMC has been awarded a significant(1) contract to supply flexible pipes to Petrobras for the pre-salt fields offshore Brazil. The Company will design, engineer, and manufacture 14 kilometers of gas injection riser pipes. TechnipFMC will also supply associated services including packing and storage.

LyondellBasell receives supply chain excellence award from SC Johnson

LyondellBasell receives supply chain excellence award from SC Johnson

MRC -- LyondellBasell is pleased to announce it received the Supply Chain Excellence Award from SC Johnson in recognition of its strong supply chain support during weather disruptions and the pandemic, said the company.

Winners were announced at an awards ceremony during SC Johnson’s Together We Win event in Milwaukee on September 19, 2023.

“We are honored to be the recipient of the Supply Chain Excellence Award, and we value our longstanding relationship with SC Johnson,” said Palmer Giddings, vice president, Polyolefins Americas at LyondellBasell. “Our customer-focused global supply chain organization provided exceptional performance to support SC Johnson with solutions during unprecedented times ensuring their products were able to reach consumers.”

Out of thousands of suppliers in SC Johnson’s network, LyondellBasell was among the seven recipients that were recognized at the award presentation event.

We remind, LyondellBasell acquired its 50% share from De Paauw Sustainable Resources (DPSR) CEO Roy de Paauw and ING Corporate Investments, said the company. DPSR is a plastics waste recycling company based out of the Netherlands. The Dutch plastic recycling firm engages in the procurement, processing, and trade of post-consumer and post-industrial plastic packaging waste.

Thyssenkrupp Uhde awarded contract by ENOWA to supply a green methanol and methanol-to-gasoline plant

Thyssenkrupp Uhde awarded contract by ENOWA to supply a green methanol and methanol-to-gasoline plant

MRC -- Thyssenkrupp Uhde has been awarded a contract by ENOWA, NEOM’s energy and water company, for engineering services and the supply, design and procurement of equipment for a new CO2-to-methanol and methanol-to-gasoline demonstration plant at ENOWA’s Hydrogen Innovation and Development Center (HIDC) in Saudi Arabia, said Hydrocarbonprocessing.

The plant is a joint development of ENOWA and Aramco and will use the innovative uhde green methanol process and ExxonMobil’s fluidized bed methanol-to-gasoline process. The plant will produce 12 tons of methanol and 35 barrels of gasoline per day.

Methanol produced from hydrogen and carbon dioxide can be used as an energy carrier, a hydrogen carrier and a transport fuel, as well as to store electric power generated from renewable energies. It can also be used as a climate-friendly feedstock in the chemical industry for a large range of products, including plastics, paints and varnishes, building materials, clothing, pharmaceutical products and disinfectants.

Dr. Cord Landsmann, CEO thyssenkrupp Uhde GmbH: "We are very proud that NEOM has selected thyssenkrupp Uhde to supply the plant due to its advanced uhde green methanol process and its expertise. This is clearly another proofpoint for our technology and knowledge being an enabler for the green transformation.”

Dr. Guido Daniel, Executive Director Operating Unit Petrochemicals & Polymers: "This project is a milestone for climate protection, as it is the first reference for the uhde green methanol process, which makes renewable fuels and chemicals possible. We are extremely pleased to be supplying this innovation to ENOWA and the world, and to be contributing to the reduction of global emissions. And this is only the beginning."

Roland Kaeppner, Managing Director of Hydrogen and Green Fuels at ENOWA: “We value the technology cooperation with thyssenkrupp Uhde and their wealth of expertise and technologies in driving a future green fuels economy. The plant will be a key part of our Hydrogen Innovation and Development Center and produce e-Methanol and e-Gasoline by end of 2025, which will be used for various applications, such as motorsports, off-grid energy and for hydrogen transportation.”

The uhde green methanol technology for the production of methanol from carbon dioxide and hydrogen is a key technology for climate protection. By switching from fossil to renewable energy carriers and by using captured carbon dioxide for the production of many products, CO2 emissions can be significantly reduced or avoided. The direct conversion of carbon dioxide to methanol using hydrogen is particularly suitable. The innovative, patented process design offers the greatest possible efficiency and is suitable for both decentralized small and medium-sized methanol plants, as well as for centralized plants for the production of up to several thousand tons of methanol per day.

We remind, Kuwait Integrated Petroleum Industries Company is in early talks with companies to partner on an integrated petrochemicals complex worth up to $9.70 B, its CEO said. The company also aims to raise capacity at its Al-Zour refinery by 20-30% above the maximum 615,000 barrels per day it expects to reach this month, Walid Al-Badr told Reuters. Initial discussions have begun with three potential partners, two from Asia and one from Europe, to build an integrated petrochemical complex alongside the Al-Zour plant, Al-Badr said.