Unipar Q3 net income falls 3.5% amid poor market conditions

Unipar's net income fell by 3.5% year on year to Brazilian reais (R) 190.8m in the third quarter with earnings weighed by reduced spreads, high costs of energy raw materials and strong competition from imports, the Brazilian chemicals producer said.

Operating conditions in Brazil's chemical industry weakened in the third quarter amid waning domestic demand and a decline in production, the company said in a statement.

The country's chemical plant utilisation rate stood at 65% in the January-October period, six percentage points below the level recorded during the same period in 2022, with August recording the worst production results since 2007, it added.

We remind, Unipar has chosen German engineering firm thyssenkrupp nucera for the modernisation of its chlor-alkali plant at Cubatao in Sao Paulo, Brazil. Unipar last month gave the green light to the “Phase Out Project (PO25)”.

Unipar produces chlorine, caustic soda and derivatives such polyvinyl chloride (PVC), vinyl chloride monomer (VCM), ethylene dichloride (EDC) or hydrochloric acid, among others. Its main markets are Brazil and Argentina.

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Italian energy group Eni and energy services company Saipem have signed a deal to support the transformation of traditional refineries and the development of new Eni's bio-refineries, said Hydrocarbonprocessing.

The agreement will focus on the study for and subsequent potential construction of plants for the production of biojet, a sustainable aviation fuel, and of the biofuel HVO diesel, produced from 100% renewable raw materials.

Eni was the first company in the world to convert two traditional refineries into bio-refineries, it said in a statement.

It plans to expand its bio-refining capacity from the current 1.65 million tons per year to over 5 million tons per year by 2030.

We remind, Russia is considering lifting an export ban on some grades of gasoline. Shulginov said the lifting of export bans on Ai 92 and Ai 95 gasoline was under consideration. Russia introduced a ban on fuel exports on Sept. 21 to tackle high domestic prices and shortages. The government eased restrictions on Oct. 6, allowing the export of diesel by pipeline, but kept measures on gasoline exports in place.

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Aspen Technology, Inc., a global leader in industrial software, today announced a newly expanded relationship with OMV Group to help accelerate the international integrated oil and gas company's energy transition initiatives and its path to achieving net zero targets, as per Hydrocarbonprocessing.

The selection of AspenTech as its strategic innovation partner is the culmination of a long-term relationship dating back more than two decades and will enable OMV to achieve greater levels of integration between its solutions and business processes in the supply chain and production domains. The first stage joining digital initiatives will focus on renewables optimization, unlocking industrial data, and developing a simplified integration across the company's supply chain.

“OMV continues its forward-thinking approach to digitalization solutions to help optimize and improve the way it operates,” said Michael Sattler, Senior Vice President, Value Chain Optimization at OMV Group. “We aim to become a net zero business by 2050, to accelerate the energy transition, and to proactively expedite the transition from a linear to a circular economy. To do that we need to build positive and proactive relationships, maintain our agility, and be able to effectively respond to market volatility and demand. Working with AspenTech gives OMV the best chance to unlock its potential at a rapid pace.”

Antonio Pietri, President and CEO at Aspen Technology said, “This strategic relationship with OMV, built on many years of trust and thought leadership, demonstrates the importance of technology innovators working together to address the biggest challenges in ensuring a sustainable future. It further underscores the role advanced digital technologies can play in helping industry leaders like OMV meet their net zero targets.? Our mutual objectives for working together in close collaboration are to rapidly evaluate potential opportunities and new innovative solutions that mitigate carbon footprints while ensuring profitability.”

We remind, Russia is considering lifting an export ban on some grades of gasoline. Shulginov said the lifting of export bans on Ai 92 and Ai 95 gasoline was under consideration. Russia introduced a ban on fuel exports on Sept. 21 to tackle high domestic prices and shortages. The government eased restrictions on Oct. 6, allowing the export of diesel by pipeline, but kept measures on gasoline exports in place.

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Chevron Lummus Global LLC announced the completion and successful startup of an ISOTERRA unit as part of Chevron's renewable fuel conversion project at their El Segundo Refinery in Southern California, said Hydrocarbonprocessing.

The ISOTERRA unit leverages both the refinery's existing assets and Chevron Lummus Global's proprietary catalyst and reactor internals technology to achieve exceptional diesel yields. The conversion from a diesel hydrotreater (DHT) allowed for a quick turnaround of the existing unit, establishing El Segundo as Chevron's first petroleum refinery with the flexibility to supply diesel fuel derived entirely from renewable or traditional feedstocks.

"This is a significant milestone for CLG, and we take great pride in our partnership with Chevron to deliver lower carbon solutions to the market," said Rajesh Samarth, Chief Commercial Officer of Chevron Lummus Global. "The successful startup of this one-of-a-kind ISOTERRA unit demonstrates the viability and scalability of our renewable fuels technology. It also highlights our commitment to helping our customers meet their goals and satisfy the growing demand for alternative fuels."

CLG's ISOTERRA technology is an all-hydroprocessing route designed specifically for converting lipid-rich feedstocks into ASTM-approved renewable diesel or sustainable aviation fuel (SAF). This process provides a viable alternative for the transportation sector, helping to deliver lower carbon solutions.

We remind, Russia is considering lifting an export ban on some grades of gasoline. Shulginov said the lifting of export bans on Ai 92 and Ai 95 gasoline was under consideration. Russia introduced a ban on fuel exports on Sept. 21 to tackle high domestic prices and shortages. The government eased restrictions on Oct. 6, allowing the export of diesel by pipeline, but kept measures on gasoline exports in place.

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In a visionary pursuit of economic growth and self-sufficiency, Iran is aiming to create a formidable 130 million tons of annual petrochemical production capacity, said Hydrocarbonprocessing.

This ambitious goal was emphasized by Morteza Shahmirzaei, Deputy Minister of Petroleum, and the CEO of the National Petrochemical Company, during a ceremony marking the commencement of the "Basij Bijar" petrochemical project.

Mr. Shahmirzaei, speaking at the event, highlighted the extraordinary progress made in the Iranian petrochemical industry, attributing it to the dedication of experts and professionals who are deeply committed to the nation's advancement. He remarked on the industry's remarkable journey, noting that during the early days of the Islamic Revolution, the nation's petrochemical production capacity was merely around 1.5 million tons annually. Today, the installed capacity in the petrochemical sector has reached an impressive 92 million tons, reflecting Iran's strength and the nation's enormous potential.

Shahmirzaei added that meticulous planning and focused efforts are underway, and the seventh development plan aims to reach nearly 130 million tons of petrochemical production capacity, a clear testament to Iran's unwavering commitment to the sector's expansion and success.

Furthermore, he shared the vision for the eighth development plan, which aspires to achieve 180 million tons of petrochemical production capacity, setting even more ambitious goals for the future.

The Deputy Minister of Petroleum and CEO of the National Petrochemical Company took pride in the progress made in the petrochemical industry, considering it a reflection of the strength of the Islamic Republic. Despite various sanctions and challenges, Iran has persevered and prevented any hindrance to its growth, evident in the successful commencement of the "Basij Bijar" petrochemical project.

Highlighting the significance of this venture, Shahmirzaei stated that this project would set the stage for further developments in the petrochemical industry within the Kurdistan region, further strengthening the industry's value chain.

He also mentioned that Iran currently hosts 72 petrochemical complexes, annually exporting $16 billion worth of petrochemical products, and actively preparing and implementing over 110 petrochemical projects across the nation.

During his visit to Kurdistan Province, the CEO of the National Petrochemical Company participated in a Friday Prayer ceremony in the city of Bijar, where he elucidated the achievements of this flourishing industry.

We remind, Kazakhstan is ready to transport more Russian oil and gas, President Kassym-Jomart Tokayev told the Russian daily Izvestia in remarks published early on Wednesday, a day before President Vladimir Putin was set to visit his country. After initially trying to distance itself from Russia following Moscow's full-scale invasion of Ukraine, the central Asian country seems to be warming to a "gas union" idea that Putin proposed last year and which would also involve Uzbekistan.

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