KazTransOil increases IFRS net profit 70%, revenue 14% in 2023

KazTransOil increases IFRS net profit 70%, revenue 14% in 2023

KazTransOil's consolidated 2023 IFRS net profit totaled 32.845 billion tenge, which is a 70% increase versus 2022, the company's consolidated financial statements said, as per Interfax.

Consolidated revenue increased 13.6% to 290.385 billion tenge. Gross profit increased 14.7% to 41.527 billion tenge, operating profit grew 2.5-fold to 19.121 billion tenge, and pre-tax profit increased 60% to 39.889 billion tenge.

Assets increased 10% during the year to 1.358 trillion tenge. Liabilities increased 24.3% to 401.511 billion tenge.

JSC KazTransOil is a Kazakh operator of main oil pipelines, and is part of the KazMunayGas group. It owns a 5,400 km-long pipeline network.

The official exchange rate as of March 7 is 447.52 tenge/$1.

We remind, KazMunayGas (KMG) plans to purchase services for organizing charter flights for a period of 5 years through 2028. KMG's purchase of Charter flight organization services is for a 5-year period from 2024 to 2028," KMG said.


OQEMA and BASF collaborate on amines in the UK and Ireland

OQEMA and BASF collaborate on amines in the UK and Ireland

BASF has strengthened its partnership with OQEMA, one of Europe’s leading chemical distributors, with regard to BASF’s standard amines portfolio excluding ethanolamines in the UK and Ireland, effective January 1, 2024, said the company.

The companies, which have enjoyed a productive partnership in Germany and Eastern Europe for over two decades, will now join forces in the UK, combining OQEMA’s extensive distribution and sales network and in-depth local market knowledge with BASF’s ability to deliver high-quality, competitively priced products at scale.

“We are thrilled about the expanded partnership with our long-standing partner BASF in the UK. This new venture provides us with an opportunity for joint growth, allows us to offer our customers an extended product portfolio in amines, and strengthens our market position,” said Tobias Hinz, Head of Technical Applications, OQEMA GmbH.

Kristina Yeates, Director Sales Standard Amines Europe, BASF, added, “Broadening our regional scope by adding the UK and Ireland will support our collective goal to grow in the coming years by leveraging our mutual strengths. Our partnership with OQEMA allows us to manage supply chain complexities and customer service and enables us to focus on our core competencies. Having worked with OQEMA in various countries over two decades, I am convinced that this enhanced level of cooperation will open up numerous business opportunities for BASF’s standard amines portfolio and beyond.”

BASF’s Intermediates division develops, produces and markets a comprehensive portfolio of more than 600 intermediates globally. The division’s key product groups include amines, diols, polyalcohols, acids and specialties. These intermediates are used as precursors for coatings, plastics, pharmaceuticals, textiles, detergents and crop protectants. Innovative intermediates from BASF help to improve both the properties of final products and the efficiency of production processes. The ISO 9001 certified Intermediates division operates plants at production sites in Europe, Asia and North America.

We remind, one year after BASF’s Monomers division announced its ambitious sustainability roadmap, it is now celebrating the successful certification of production sites in all regions. With its MDI production site in Geismar, Louisiana, USA, joining the ranks of ISCC PLUS and REDcert2-certified locations1, BASF can now offer its customers regionally produced ISCC PLUS and/or REDcert2 certified isocyanates and polyamides all over the world.


Kaliningrad's Naturovo starts producing soft drinks in Moscow Region, planning second production line

Kaliningrad-based Agrofactory Naturovo LLC has launched a production line for bottling carbonated drinks in the town of Lukhovitsy near Moscow, the company told Interfax.

"The production line for the production of natural soft drinks was opened at the site, where an autoclave for the cooking and vacuum packaging of vegetables was also launched. The total investment in the project is over 300 million rubles, with 50 jobs created at the enterprise," the company said.

The LimoNat brand drink is produced in Lukhovitsy, in 0.3 l and 0.7 l bottles, both in PET packaging and in glass, the manufacturer said. Each bottle contains 60% directly pressed juice. The company's immediate plans include expanding its range of products, as well as producing natural juices, fruit drinks and cider. The company's products are certified for use as baby food.

"Soft drink production volumes depend on the level of demand. Currently, the enterprise operates one line; its capacity is 20,000 bottles per day. Meanwhile, the project foresees the launch of a second line. It will take place around May 2024. Juices and still drinks with juice content will be bottled here," the company said.

Agrofactory Naturovo LLC has been operating in the Kaliningrad region since 1995, when its first warehouses for storing vegetables and fruits were opened. Today, it is engaged in the processing and production of agricultural products under the Naturovo brand, runs its own vegetable storage facilities and a logistics center, and has its own chain of retail stores of the same name as well as an express delivery service.

The owner and general director of the LLC, according to the Unified State Register of Legal Entities, is Russian citizen Alexander Ivanov. The company earned revenue of 1.7 billion rubles, and net profit of 21.2 million rubles in 2022 (the most recent published data).

We remind, a major fire has hit one of the six key trunklines that run in a single corridor from the gas-rich Yamal-Nenets autonomous region in West Siberia in Russia. These pipelines are responsible for delivering most of the gas produced by state-controlled Gazprom in the Yamal-Nenets region to customers in the European part of the country, and also to export destinations via the TurkStream and Blue Stream subsea pipelines in the Black Sea and a legacy pipeline across Ukraine.


Saudi Kayan's accumulated loss reaches 20.44% of capital

Saudi Kayan's accumulated loss reaches 20.44% of capital

Saudi Kayan Petrochemical Co. (Saudi Kayan) announced that its accumulated losses reached 20.44% of its capital amounting to SAR 15 billion, based on the unaudited financial results for February 2024 that were closed щт 10 March, said Argaam.

In a statement to Tadawul, the company said its losses reached nearly SAR 3.07 billion.

The losses were mainly due to the sharp decline in profit margins on lower average product prices. This was due to the slow global demand for petrochemicals and the decrease in sales volumes and value on the suspension of some plants to perform scheduled periodic maintenance, which was previously announced.

The chemical producer will apply the procedures and instructions related to listed companies with accumulated losses of 20% or more of their capital.

The board and executive management are working to find the best opportunities and solutions to reduce the accumulated losses and related burdens on the company.

We remind, in 2011 Saudi Kayan Petrochemical Co , a unit of Saudi Basic Industries Corp (SABIC). "Kayan announces the start of commercial operations at most of the company's plants in Jubail Industrial City starting from Saturday," the company said in a statement on the bourse website. Saudi Kayan has an annual production capacity of over 4 million tonnes of petrochemical and chemical products including aminoethanols, aminomethyls, dimethylformamide, choline chloride, dimethylethanol.


Arya Chem to exclusively distribute DCL’s premium color pigments in Canada

Arya Chem to exclusively distribute DCL’s premium color pigments in Canada

Arya Chem, a chemical solutions provider, announced a partnership with DCL, a world-renowned manufacturer of color pigments, to become the exclusive distributor of DCL's premium color pigments in Canada, said Echemi.

This strategic collaboration combines Arya Chem's extensive industry expertise with DCL's innovative and high-quality color pigment solutions. Committed to excellence and sustainability, DCL has become a trusted supplier to the global chemical industry.

"We are excited to partner with DCL as their exclusive distributor in Canada," said Jon Morrison, Director of Sales and Marketing at Arya Chem. "This partnership is perfectly aligned with our mission to provide customers with chemical solutions that meet their evolving needs. DCL's superior range of color pigments will enable us to provide greater value and choice to customers across a variety of industries. "

DCL's color pigments are renowned for their consistency, durability and versatility in coatings, plastics, inks and construction materials, making them ideal for a variety of applications. With Arya Chem as the exclusive distributor, Canadian customers now have easy and convenient access to DCL’s comprehensive color pigment product portfolio.

"We are pleased to strengthen our presence in the Canadian market through our partnership with Arya Chem," said Rogerio Galante, DCL Vice President of Sales Americas. "Arya Chem's commitment to customer satisfaction and extensive knowledge of the Canadian chemical industry make them the perfect partner to represent our brands and products in the region. "

Arya Chem is committed to providing customers with exceptional service and support. This ensures seamless access to DCL's color pigment solutions as well as technical assistance and expertise.

We remind, LANXESS has expanded its Colortherm Yellow pigment series for heat-resistant high-performance plastics. Two new inorganic yellow pigments are now on the market, namely Colortherm Yellow 5 and Colortherm Yellow 26. They are based on iron oxide and zinc oxide, respectively, and are specially designed for low-cost coloring in the temperature range of 220°C to 260°C.