Grace expands operating UNIPOL PP technology capacity in China with Oriental Energy

Grace expands operating UNIPOL PP technology capacity in China with Oriental Energy

MRC -- W. R. Grace & Co, the leading independent supplier of polyolefin catalyst technology and polypropylene process technology, announced that Oriental Energy Co. Ltd. has started up a new plant with Grace’s UNIPOL PP Process Technology, as per Hydrocarbonprocessing.

Located in Maoming, China, the new 400 Kpy reactor line began producing high-quality homopolymers and random copolymers on September 15, 2023.

Oriental Energy now operates four sites utilizing the UNIPOL PP technology offering 1.6 million tons of PP licensed capacity: 400 KTA at Zhangjiagang (which started up in 2015); two 400 KTA reactor lines in Ningbo (which started up in 2021); and the new plant in Maoming. Oriental Energy currently holds the largest total UNIPOL PP process technology capacity in operation in China.

Sandra Wisniewski, President of Specialty Catalysts at W. R. Grace, said, "The collaboration with Oriental Energy towards the successful start-up in Maoming marks another milestone in our partnership. Our advanced PP process technology delivers on our Plant Lifetime Performance™ commitment, as evidenced by the longstanding relationship between our two companies.”

Echoing the sentiment, Mr. Sun Canqian, General Manager at Oriental Energy (Maoming) Co. Ltd., added, "We appreciate the joint effort the Oriental Energy and Grace teams provided to ensure a successful start-up, demonstrating a catalysis reaction that occurred within 10 minutes of injection. This new UNIPOL PP technology line aligns with our commitment to providing quality polypropylene products in China."

Oriental Energy selected UNIPOL polypropylene process technology because of its reliable production capabilities, cutting-edge PP technology, proven catalyst performance, and technical service. The process technology enables the production of high-performance polypropylene resins used for a variety of applications, such as automotive parts, packaging, consumer goods and infrastructure materials.

We remind, Long Son Petrochemicals, a unit of Thailand's SCG Chemicals, will test run its new petrochemical complex in southern Vietnam in November and December, the company said on Wednesday. Full commercial production at the facility will begin early next year, the company said in a statement. The $5-B facility in Ba Ria Vung Tau province will produce 1.4 million metric tons of plastic resins a year, the company had earlier said, adding that its raw materials, naphtha and propane, will be imported mostly from the Middle East.

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Clariant Q3 EBITDA down 28% on falling price and volume

Clariant Q3 EBITDA down 28% on falling price and volume

MRC -- Clariant posted a 28% decrease on earnings before interest, tax, depreciation and amortisation (EBITDA) in the third quarter amid lower prices and volumes, the company said.

Clariant expects to see an easing inflationary environment, but no economic recovery in the final three months of 2023, with macroeconomic uncertainties and risks remaining.

Despite that, Clariant confirms its sales guidance for the full year 2023 of Swfr4.55bn–4.65bn, it said.

Also, it keeps its reported EBITDA guidance for full year 2023 at Swfr650m-700m, and 14.3%–15.1% reported EBITDA margin.

We remind, Clariant's second-quarter earnings fell as margins dropped amid lower volumes and continued customer destocking. Q2 earnings before interest, tax, depreciation and amortisation (EBITDA) margin fell to 16.1% from 16.6% in the same period a year earlier. Inventory devaluation resulting from lower raw material prices (-12%) in the second quarter weighed on profitability as well. The full year 2023 reported EBITDA is expected between Swfr650m-700m with reported EBITDA margin at 14.3%–15.1%.

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TotalEnergies reports USD6.67bn net income in Q3 2023

TotalEnergies reports USD6.67bn net income in Q3 2023

MRC -- TotalEnergies has reported net income of $6.67bn (€6.33bn) in the third quarter of 2023, a marginal 1% increase compared with $6.62bn in the same period a year ago, said the company.

In the July–September quarter of 2023, the French oil and gas company reported $54.41bn in revenue from sales, a 16% decline from $64.92bn in Q3 2022.

During the period under review, hydrocarbon production (excluding Novatek) was 2.48 million barrels of oil equivalent per day (boed), up by 5% year-on-year (YoY).

Start-ups and ramp-ups, such as Absheron in Azerbaijan, Johan Sverdrup Phase 2 in Norway, Mero 1 in Brazil, Ikike in Nigeria and Bloc 10 in Oman, were credited with improving production.

Additional reasons that led to higher output included less scheduled maintenance, fewer unforeseen outages, and better conditions in Nigeria and Libya.

In the quarter that ended 30 September 2023, exploration and production-adjusted net operating income was $3.13bn, down 26% YoY.

We remind, TotalEnergies has announced the construction of a new mechanical recycling unit for plastic waste at its Grandpuits site in France, said the company. The new unit can produce 30,000 tonnes/y of high value-added compounds containing up to 50% recycled plastic material once it become operational in 2026. A specific centre will also be created that will provide technical assistance to customers and develop new products.

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Shin-Etsu Chemical Co Ltd: Consolidated financial results for 1H ended 30 Sep 2023

MRC -- Shin-Etsu Chemical Co Ltd strived to make up for the loss in profit with the shipment of highly functional product groups, said the company.

Net sales stood at Yen 255.3 bn and Yen 215.4 bn, respectively, a change of (16%). Operating income stood at Yen 73.5 bn and Yen 51.7 bn, respectively, a change of (30%).

As for PVC, export pressures from Chinese manufacturers continued due to the weakness of construction and housing investment in China, but price levels were maintained. The caustic soda market was in a similar situation.

Shin-Etsu Chemical Co Ltd's net sales stood at Yen 651.6 bn and Yen 490.9 bn, respectively, a change of (25%). Operating income stood at Yen 289.8 bn and Yen 165.2 bn, respectively, a change of (43%).

We remind, Shin-Etsu Chemical Co Ltd has established a Sustainable Silicone Business Development Department within its Silicone Division in its Head Office organization, said the company. The Silicone Division handles silicones which are the core product in its Functional Materials business segment. The Sustainable Silicone Business Development Department will be responsible for the marketing of environmentally friendly silicones products, a development which is part of the Yen 100 bn investment in its silicones business announced on 27 Jul 2023.

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Celanese plans to shut down German nylon plant in '24

Celanese plans to shut down German nylon plant in '24

MRC -- Celanese plans to shut down its nylon 6,6 and high-performance nylon plants in in Uentrop, Germany, the US-based engineered materials producer said.

It is shutting down the plant because of costs, the company said. Celanese had started the consultation process with the works council and union on Tuesday as well.

The company should complete the closure of the units in 2024.

The shutdowns should cost Celanese USD110m-125m, on top of expenses connected to the termination of the employees. Celanese does not know how much those termination costs will be.

We remind, Celanese Corporation, a global chemical and speciality materials company, declared on 19 Oct 2023 a quarterly cash dividend of $0.70/share on its common stock, payable 13 Nov 2023. The dividend is payable to stockholders of record as of 30 Oct 2023.

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