Fuel tanker Luggati loads at Novatek's Ust-Luga terminal

Fuel tanker Luggati loads at Novatek's Ust-Luga terminal

MRC -- The tanker Luggati is being loaded at Novatek's NVTK.MM terminal at the Baltic Sea port of Ust-Luga, where the company's fuel-producing complex was damaged by fire in January, according to industry sources and LSEG data, said Hydrocarbonprocessing.

The tanker is designed for loading dirty oil products and, presumably, can take on fuel oil from the complex’s storage tanks, the sources added.

Novatek did not respond immediately to a request for comment. Fuel tanker Breeze was also loaded at the terminal this week. According to market sources and LSEG data, the cargo was naphtha from the complex’s storage tanks and is heading to Singapore.

The fire at the Novatek's refinery complex started on Jan. 20, forcing the company to suspend "technological processes". Novatek resumed fuel loadings at its Ust-Luga terminal on Jan. 24, according to industry sources and LSEG data. Operations at the processing complex have yet to resume.

The complex, launched in 2013, processes gas condensate into light and heavy naphtha, jet fuel, fuel oil and gasoil. It enables the company to ship oil products as well as gas condensate to international markets.

In 2022 the Ust-Luga complex processed 6.943 million metric tons of gas condensate into 6.825 million tons of end products, including 4.208 million tons of light and heavy naphtha, 1.052 million tons of jet fuel and 1.487 million tons of fuel oil and gasoil as well as 78,000 tons of liquefied petroleum gas (LPG).

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Phillips 66 Q4 chems earnings jump, refining profits slump

Phillips 66 Q4 chems earnings jump, refining profits slump

MRC -- Phillips 66’ Q4 pre-tax chemicals profits firmed year on year despite an overall drop in adjusted earnings due to weaker refining operations, the US-based firm said.

Pre-tax income stood at $106m, steady from the $104m in the preceding three months, and substantially up from $52m in the same period a year earlier.

The midstream producer’s chemicals earnings are derived from its stake in joint venture CP Chem, which it owns alongside fellow producer Chevron. Global olefins and polyolefins operating capacity for the business stood at 94% for the quarter, Phillips 66 added.

Weaker refining profitability on a quarterly and annual basis was the result of slimmer profits during the period, with average realised margins of $14.41/bbl compared to $18.96 in Q3 2023.

We remind, Phillips 66 is committed to playing a meaningful role in the energy transition by offering lower-carbon solutions to supplement its production of traditional fuels. That was the message delivered by Suresh Vaidyanathan, the company’s vice president of renewable fuels, at the Argus America Crude Summit in Houston on Jan. 24. He was joined by executives from other refiners operating in the U.S. on a panel discussion exploring refining in a low-carbon world.

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Indorama Ventures restarts ethylene oxide production in Texas

Indorama Ventures restarts ethylene oxide production in Texas

MRC -- Indorama Ventures has successfully resumed the production of ethylene oxide and ethylene glycol at its Clear Lake facility in Texas, said Chemanalyst.

This resumption follows a planned outage that occurred amid extremely cold weather conditions in the Gulf Coast region earlier in the month, and the company officially confirmed the restart of production over the weekend.

The Texas plant boasts an annual capacity of 355,000 tons of ethylene glycol, constituting nearly 6% of the total capacity in the United States, and 450,000 tons of ethylene oxide, representing almost 7% of the country's overall capacity. Indorama Ventures' strategic location and significant production capacity make it a key player in the ethylene oxide and ethylene glycol market, contributing significantly to the industry landscape.

This development comes on the heels of Dow's plans to recommence operations at its ethylene oxide plant in Plaquemine, Louisiana, USA, during the second quarter of the year. The announcement was made during a conference call on earnings reports. The Plaquemine plant had experienced a fire in July 2023, leading to its closure. The reopening of Dow's facility is crucial for the supply chain, particularly for processed ethanolamines, as the plant transports them through a pipeline to the processor. Other major ethylene glycol manufacturers in the US include Dow, Eastman Chemical, Formosa, Lotte Chemical, LyondellBasell, MEGlobal, Sasol, and Shell Chemical.

Within the ethylene oxide production landscape in the US, notable players alongside Indorama Ventures and Dow include BASF, Eastman Chemical, Formosa, Lotte Chemical, LyondellBasell, Sasol, and Shell Chemical. The collective contribution of these industry leaders shapes the dynamics of the ethylene oxide market in the country.

ndorama Ventures' decision to resume production at its Texas facility aligns with the company's commitment to maintaining operational efficiency and meeting market demands. The resumption is particularly significant given the substantial role of ethylene glycol and ethylene oxide in various industrial applications, including the production of polyester fibers, antifreeze, and other essential chemicals.

As one of the key players in the petrochemical industry, Indorama Ventures plays a pivotal role in the supply chain, contributing to the availability and stability of ethylene glycol and ethylene oxide in the US market. The strategic location of the Clear Lake facility enhances the company's ability to cater to regional and national demands, reinforcing its position as a reliable supplier.

Indorama Ventures' successful resumption of ethylene oxide and ethylene glycol production in Texas underscores the resilience and adaptability of the petrochemical industry. The strategic significance of ethylene glycol and ethylene oxide in various industrial applications, coupled with the broader dynamics of the US market, positions Indorama Ventures as a key player influencing supply chain stability. As the industry continues to navigate challenges, the operational efficiency demonstrated by Indorama Ventures reflects a commitment to meeting market needs and contributing to the overall resilience of the petrochemical sector.

We remind, Ineos revealed the acquisition of LyondellBasell's Ethylene Oxide & Derivatives business, including the production facility in Bayport, Texas, for a sum of $700 million. The deal encompasses a 420kt Ethylene Oxide plant, a 375kt Ethylene Glycols plant, and a 165kt Glycol Ethers plant, along with associated third-party operations at the site. The target completion for this transaction is set for the second quarter of 2024, subject to regulatory and third-party approvals.

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Arkema aims to improve EV battery safety with Foranext gaseous thermal barrier concept

Arkema aims to improve EV battery safety with Foranext gaseous thermal barrier concept

MRC -- Arkema, a leader in specialty materials, announced today that it intends to improve electric vehicle (EV) battery safety with the launch of the first-of-its-kind Foranext® Gaseous Thermal Barrier (GTB) line, said the company.

This new GTB material is engineered to prevent battery thermal runaway propagation at the origin of battery fires.

The industry has acknowledged the need for manufacturers to continue to develop solutions like immersion cooling fluids to safely improve EV battery charge time. Immersion cooling technology can improve charge time and create an electrical insulation protecting against electric arcing and vibration dampening. Ignition is still a key risk for these fluids and systems.

We remind, Arkema, a leader in specialty materials, announces another significant milestone in the decarbonization of its acrylic production chain, as the company obtains ISCC+ certification for its acrylic acid and ester production facility located in Taixing, Jiangsu Province, China.

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SIBUR attains the largest portfolio of climate projects among Russian companies

SIBUR attains the largest portfolio of climate projects among Russian companies

MRC -- The Russian Registry of Carbon Units has welcomed three new climate projects by SIBUR implemented at its facilities in Nizhnekamsk, Tomsk, and Dzerzhinsk, said the company.

Their implementation is expected to secure a combined GHG reduction of over 6 million tonnes of CO2-eq. until 2032. According to the Russian Registry of Carbon Units, SIBUR now holds the largest portfolio of projects to reduce СO2 emissions among Russian businesses.

The climate project at Nizhnekamskneftekhim involves utilising the facility’s by-products at its own combined cycle gas turbine (CCGT) plant to generate electricity. This helps decrease the consumption of natural gas, ramping down greenhouse gas emissions.

The climate project at Sibur-Neftekhim aims to reduce greenhouse gas emissions by improving energy efficiency in the production of ethylene oxide and glycols. Gas coolers installed in the facility's production area enable the recovery of additional steam from the waste heat generated during the production process, which is then utilised for the production of ethylene oxide and glycols. As a result, the boiler house now consumes less natural gas.

As part of the Tomskneftekhim climate project, the overheated steam from monomer production is directed to a turbine generator. This enables the production of polyethylene using self-generated energy, eliminating the reliance on grid electricity derived from fossil fuel combustion.

All the climate projects have been fully endorsed by validating organisations, including Innopolis University and the CIS Member States Coordination and Information Centre for Regulatory Convergence, that confirmed their compliance with the GOST R ISO 14064-3-2021 standard.

We remind, SIBUR, Russia's largest producer of polymers and rubbers, summarised the company's key operational results for 2023 at the Ruplastica international trade fair, which was held in Moscow on 23–26 January 2024. In 2023, SIBUR ramped up the sales of its key products, with the share of supplies to the Russian market rising to 75%. Since 2021, SIBUR has been consistently increasing its sales in the domestic market, which is the Company's priority, by reducing export sales and continues to stimulate further growth in local polymer processing and reducing imports of finished polymer products.

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