Indian Oil once more selected process technology from LyondellBasell

Indian Oil once more selected process technology from LyondellBasell

MRC -- LyondellBasell, the world’s largest licensor of polyolefin technologies, announced that Indian Oil Corporation Ltd. (IOCL) has selected LyondellBasell’s Hostalen “Advanced Cascade Process” (Hostalen ACP) technology for a new 200 kiloton per year (KTA) high density polyethylene (HDPE) plant, said the company.

The new facility will be built in Panipat, India. “This new license award by IOCL represents the second Hostalen ACP process technology line to be built at Panipat. This is a clear demonstration of the confidence of our customers in our capability, and their trust in our technology” said Neil Nadalin, Senior Director Global Licensing and Services at LyondellBasell. Nadalin added: “The well-known Hostalen ACP resins from LyondellBasell’s low-pressure slurry HDPE process are much appreciated in India, as our technology enables operators to reliably and economically produce resins the Indian market demands“.

The Hostalen ACP process technology manufactures high performance, multi-modal HDPE resins with an industry-leading stiffness/toughness balance, impact resistance, high stress cracking resistance and processing advantages used in pressure pipe, film, blow molding and caps & closure applications.

The Hostalen ACP plant will commence operations using Avant Z501 and Avant Z509-1 catalysts to produce a full range of multi-modal HDPE products. New licensees can take advantage of LyondellBasell’s in-house expertise of continuous production improvement, sustainable product development and catalyst knowhow, by optionally joining our Technical Service program.

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.

ConocoPhillips posts quarterly earnings of $2.8 bn, raises dividend

ConocoPhillips posts quarterly earnings of $2.8 bn, raises dividend

MRC -- ConocoPhillips had 3Q 2023 earnings of $2.8 bn, a decrease from $4.5 bn in 3Q 2022, said the company.

Excluding special items, 3Q 2023 adjusted earnings were $2.6 bn, compared with 3Q 2022 adjusted earnings of $4.6 bn. Special items in the current quarter mainly consisted of a tax reserve reversal benefit and a gain associated with the divestiture of a Lower 48 equity investment. The operator detailed a 14% increase in its quarterly dividend due to higher-than-expected earnings for the quarter.

The decline in earnings and adjusted earnings from 3Q 2022 was primarily attributed to lower commodity prices. The company's total average realized price was $60.05/boe, 28% lower than the $83.07/boe realized in 3Q 2022. Oil and gas production for the quarter was 1.806 MMboe/d, an increase of 52,000 boe/d from 3Q 2022. After adjusting for impacts from closed acquisitions and dispositions, 3Q 2023 production increased 49,000 boe/d or 3% from the same period a year ago.

Organic growth from Lower 48 and other development programmes more than offset decline and downtime. Lower 48 delivered production of 1.083 MMboe/d, including 722,000 boe/d from the Permian basin, 232,000 boe/d from the Eagle Ford, and 111,000 boe/d from the Bakken. In Canada, Surmont Pad 267 achieved first steam and Montney's CPF2 came online, both in late Sep 2023. Turnarounds were successfully completed in Norway and Alaska. For the quarter, cash provided by operating activities (CFO) was $5.4 bn. Excluding working capital, ConocoPhillips generated CFO of $5.5 bn and received proceeds of $200 M primarily from the sale of a Lower 48 equity investment. In addition, the company funded $2.5 bn of capital expenditures and investments. ConocoPhillips further diversified its LNG portfolio by signing a 15-year throughput agreement for about 1.5 M tonnes/y of regasification at the Gate LNG Terminal in the Netherlands.

ConocoPhillips increased the quarterly ordinary dividend by 14% to $0.58/share, payable 1 Dec 2023, to stockholders of record at the close of business on 14 Nov 2023. The operator paid its 4Q 2023 variable return of cash (VROC) of $0.6/share on 16 Oct 2023, to stockholders of record at the close of business on 28 Sep 2023. Beginning in 1Q 2024, ConocoPhillips plans to pay its quarterly ordinary dividend and VROC concurrently and will announce such payments in the same quarter they will be paid. ConocoPhillips completed the purchase of the remaining 50% interest in asset in Surmont, AB, Canada in Oct 2023.

All guidance has been updated to reflect the acquisition of additional interest in Surmont but excludes any impacts from the previously announced Australia Pacific LNG (APLNG) transaction. 4Q 2023 production is expected to be 1.86-1.9 MMboe/d. Full-year production is expected to be about 1.82 MMboe/d, slightly higher than prior guidance of 1.80-1.81 MMboe/d due to the Surmont, AB acquisition. Full-year guidance for adjusted operating cost was updated to $8.6 bn versus the prior guidance of $8.3 bn, reflecting the increased working interest at Surmont, AB, increased Lower 48 non-operated activity and inflationary impacts primarily in the Lower 48.

We remind, ConocoPhillips said on Friday it was buying the 50% stake in the Surmont oil facility held by TotalEnergies' Canadian subsidiary for about USD3 B, giving it full ownership and elbowing away rival Suncor Energy. Canada's Alberta oil sands hold some of the world's largest crude reserves, which appeal to cash-flush producers looking to bolster production.

LyondellBasell updates potential plans for Houston refinery site

LyondellBasell updates potential plans for Houston refinery site

MRC -- LyondellBasell Industries Holdings BV is proceeding with a potential plan to transition subsidiary Houston Refining LP's (HRL) soon-to-be-shuttered 268,000-b/d Houston full-conversion refinery into a hydrogen production site as part of the proposed US government-funded HyVelocity regional hydrogen hub, said the company.

Confirmation of LyondellBasell's possible participation in HyVelocity follows $1.2 bn of $7 bn in federal grants awarded by US President Biden's administration in mid-Oct 2023 to the project, which is sponsored by ExxonMobil Corp, Chevron Corp, Air Liquide SA, Mitsubishi Power Americas, AES Corp, Sempra Infrastructure, and Oersted AS. As development of the Houston refinery-to-hydrogen site remains ongoing, Vanacker said the company will continue to evaluate other projects in line with its circular and low-carbon solutions business involving reuse of the refinery's existing hydrotreaters, including: Using LyondellBasell's proprietary MoReTec advanced recycling technology to upgrade and purify mixed plastic waste into pyrolysis oil that can be used as feedstock for new plastic materials. Using MoReTec advanced recycling technology to upgrade and purify mixed plastic waste into pyrolysis gas that can be shipped via existing pipeline connections from the refinery to LyondellBasell's nearby olefins manufacturing complex in Channelview, TX, for use as feedstock in that site's steam crackers.

Revamping the refinery's existing hydrotreaters to process renewable-based feedstocks for production of renewable hydrocarbons that also could be transported to Channelview, TX, for use as feedstock to the site's steam crackers. With dedicated teams currently analyzing the various potential projects for the future use of the refinery, the company will proceed with normal routes for FID once those studies are completed, according to Vanacker. Previously slated for closure by end-2023, LyondellBasell said in May 2023 that it would delay ceasing operations at the Houston refinery until 'no later' than end-1Q 2025.

We remind, LyondellBasell Industries announced net income for the third quarter 2023 of $0.7 billion, or $2.29 per diluted share, said the company. During the quarter, the company recognized identified items of $57 million, net of tax, which impacted third quarter earnings by $0.17 per share. Third quarter 2023 EBITDA was $1.4 billion.

Henkel introduces new medical grade wearables device light cure adhesives

Henkel introduces new medical grade wearables device light cure adhesives

MRC -- Henkel has launched a novel medical grade light cure adhesive designed for devices that are to be worn on the body, said the company.

The new product is formulated without IBOA (Isobornyl Acrylate) or any other known skin sensitizing monomers. The adhesive is also formulated to conform to EU MDR 2017 regulations concerning use of CMR (carcinogenic, mutagenic, or toxic for reproduction) substances in medical devices making it a robust option for new designs.

The newly developed adhesive is available in two different grades. Loctite WT 3001 and Loctite WT 3003 have both been tested according to ISO 10993 standards, ensuring a high level of safety and performance for users. The solutions have also been tested for skin sensitization, making them suitable for a wide range of medical applications including wearable devices.

With the increasing demand for medical devices and wearables, the need for safe and reliable adhesive solutions has never been more crucial. Henkel's new wearable device light cure adhesive provides an excellent bonding solution for medical devices, ensuring strong and durable connections while remaining free of known skin sensitizing monomers such as Isobornyl Acrylate (IBOA). IBOA is known in that medical community for causing patient skin reactions when used in wearables.

”At Henkel, we are committed to providing our customers with innovative adhesive solutions that meet the highest safety standards,” said Philipp Loosen, Vice President and Head of Industrials EIMEA and Global Key Accounts Medical at Henkel. ”With the introduction of our new medical grade wearable device light cure adhesive, we are addressing the growing need for safe and effective adhesives in the medical industry. Our adhesive is ISO 10993 tested and formulated with patient comfort and safety in mind, ensuring its suitability for use in medical device bonding and medical wearables.”

Henkel's wearable device light cure adhesive offers various benefits for medical applications. Its light cure capabilities allow for quick and efficient bonding, reducing production time and increasing productivity. The adhesive also provides excellent adhesion to a wide range of substrates commonly used in medical devices and wearables, ensuring robust bonding and sealing performance after drop impact or bathing.

Furthermore, the adhesive's formulation meets FDA & EU MDR recommendations for wearable medical devices regarding sensitizing and CMR ingredients. Henkel is committed to meeting regulatory requirements and delivering safe and reliable adhesive solutions to its customers. The focus on removing all known skin sensitizing monomers further reduces the risk of skin sensitization making the adhesive suitable for prolonged skin contact in medical applications.

With the trend of the integrated and connected devices, medical wearables look to incorporate advanced technologies and data-driven approaches into the healthcare industry. Henkel offers a broad material solutions portfolio for medical wearables, including low-pressure molding technologies, skin bonding, assembly adhesives, circuit board protection, and printable conductive/functional inks for biosensors.

We remind, Henkel acquired the US-based Critica Infrastructure (“Critica”), a specialized supplier of maintenance, repair and overhaul (MRO) composite solutions for the world’s most critical infrastructure such as oil and gas transmission as well as municipal water supply systems. Critica is active in many countries with a strong focus on North America and is expected to reach sales of around 100 million euros (around 110 million USD) in 2023.

Braskem and Oxiteno sign a partnership to supply bio-attributed ethylene

Braskem and Oxiteno sign a partnership to supply bio-attributed ethylene

MRC -- Brazilian petrochemical companies Braskem and Indorama Ventures IOD - Oxiteno announce a partnership to supply bio-attributed ethylene from renewable sources, said the company.

Bio-attributed ethylene, certified by ISCC (International Sustainability and Carbon Certification), will be used by Oxiteno to create new sustainable solutions.

This raw material is the first bio-attributed chemical product produced by Braskem from the certified mass balance approach. The concept co-processes traditional carbon sources with recycled or renewable components to develop chemical solutions with a sustainability attribute, maintaining properties and quality compared to conventional solutions. Furthermore, it contributes to reducing the use of fossil raw materials and greenhouse gas emissions.

“Braskem and Oxiteno have aligned sustainability initiatives and this partnership is of great importance for the growth strategy of both, being one more step for the industry towards a sustainable future. The initiative should define new paths for sustainability in our petrochemical sector”, Marlisa Reche explains, Chemicals - Olefins and Aromatics Business Director at Braskem.

“There is a significant connection between our innovation strategy and our sustainability objectives. This initiative aligns with our main guidelines of decarbonization and promoting eco-efficiency in our operations. This partnership further underscores our company's mission to 'Reimagine Chemistry Together to Create a Better World,' enabling us to develop innovative and sustainable products while ensuring our organization is prepared for the future”, explains Andrea Campos Soares, Sr VP Business, Marketing & Innovation at Oxiteno.

We remind, Braskem, the leading global biopolymer producer, announced the opening of its Representative Office in Tokyo, Japan one of the key markets for Braskem's I'm greenT bio-based Polyethylene (PE), said the company.
This expansion reinforces our continuous commitment to the Japanese market and the continued development the biopolymer solutions based on renewable feedstock.