Petrochemical News 20.08.07

Chemical Valley to develop environment-friendly fuels.

Chemical Valley is considering a $10-million innovation centre to help Sarnia's petrochemical industry to develop an environment-friendly fuels. This includes financing for the bio-industrial centre at the Sarnia-Lambton Research Park of the University of Western Ontario.

Petrobras and Unipar to Form a Chemical Company

Cia. Petroquimica do Sudeste, the new name of the joint petrochemical company between Petroleo Brasileiro SA, Brazil's state-controlled oil company, and União de Industrias Petroquimicas is in stage of discussio for join their stakes in Brazilian plastics and chemical plants into a single company. Cia. Petroquimica do Sudeste take over factories producing thermoplastic resins and basic petrochemicals in Brazil's industrialized southeast, Petrobras.

Petrochemical Plant in Gujerat

New Delhi-based SRF, is exploring possibilities of setting up a petrochemical complex in Dahej, Gujarat. This is a second petrochem complex in Dahej. ONGC is already in its way of constructing a global-scale petrochemical complex comprising of a 1.1 million tonne-per-annum ethylene capacity dual feed cracker, along with associated units and polymer plants, at Dahej.

Saudi Goverment Raised Sukuk Size

Saudi Basic Industries Corporation (Sabic ) has been granted permission to the to increase the size of its sukuk (Islamic bonds) up to $2.133 billion (SR8 billion) by the Saudi Capital Market Authority (CMA) This is seen as a good news that will lead to new ventures and investment in Saudi Arabia as it lets the Islamic bonds to be used in large-scale petrochemical projects in the country.

Reliance and HCPL to joint develop greenfield petrochemical plants

The tie-up between Reliance and HPCL would result in a mega-sized plant in Visakhapatnam. Another proposed joint venture with RIL would create a similar plant in the Middle-East or Commonwealth of Independent States (CIS) countries.

Petrochemical News 15.08.07

Industrial Zones in Map Ta Phut

Thailand government's strong support for petrochemical industry is now raising concern that more green areas in Rayong's Ban Chang will be zoned as industrial. Government official, Santi Boonprakub, chief of the ONEP environmental impact assessment division suggested that petrochemical industry no longer poses alarming threat to the environment and people.

Middle East Continues to Welcome Western Investments

Western energy companies continue to utilizer their abundant cash and technology in a hydrocarbon-rich Middle East region which has access to the world's new reserves of oil and gas.
Royal Dutch Shell PLC, Russia's OAO Lukoil Holdings, Italy's Eni SpA and China Petroleum & Chemical Corp., or Sinopec, are involved in consortia drilling for gas in Saudi Arabia's Rub al-Khali, or Empty Quarter, in the kingdom's vast interior. Britain's BP PLC signed a gas-exploration deal in Oman. Exxon Mobil Corp., Anglo-Dutch Shell, Total, BP, ConocoPhillips and Occidental shorlisted for $10 billion project in U.A.E. to tap sour gas, near Abu Dhabi.

Iran Sets for Joint-Petro Petrochemical Projects

Iran has disclosed their intends to participate in petrochemical projects in Venezuela, Oman, Indonesia and the Philippines according to deputy oil minister for petrochemical affairs of Iran. $2billion joint petrochemical plant launched by Iran and Venezuala is expected to be commissioned by the end of 2010. Similar complex is scheduled to be constructed in Venezuela.
Talks are currently underway for the joint establishment of petrochemical plants is underway in Indonesia and Singapore. Iran together with Oman are also considering a joint construction of urea and ammonia plants in Iran and Oman.

Privatisation of Chemical Companies in Nigeria Cancelled

Nigerian Federal Government recently cancelled the privatisation of Kaduna Refining and Petrochemical Company (KRPC) and Port Harcourt Refining Company (PHRC). It is believed that government actually cancelled the privatization deal because of strike to protest the privatisation of the two companies by organised labour.

Petrochemical News 12.08.07

Brazillian Oil Giant PETROBRAS wants to buy Suzanno Petroquimica.

Value of the deal could be around 3 billion reais ($1.6 billion). ($1=1.88 reais). Petrobras officials have yet to confirm the report but Suzano shares had risen 1.58 percent to 5.79 reais before the Sao Paulo stock exchange suspended trading. Petrobras shares were down 2.6 percent, underperforming the broader market, which fell 1.6 percent.

Qatar Petrochemicals Las Raffan Complex. Bids are open.

Bids have been received from three firms by Qatar Petroleum (QP) for a contract to supervise the construction of a petrochemical plant at the Ras Laffan complex. Foster Wheeler and Fluor Corporation are in the midst of submitting bids.

Titan Petrochemicals Group to Set up Spot Petrochemical Contracts Market in the China's south this year.

Titan Petrochemicals will hold a 70% stake in the exchange and 30% by Nansha Asset Management, worth an investment of HK$62.02 mln starting with fuel oil and liquid petrochemical products trading. Guangzhou will be China's third oil exchange as well as a petchem hub for South China.

Trading will start with fuel oil and liquid chemical products. while Guangzhou-based Nansha Assets Management Corp will own 30%. The exchange will further reinforce Guangzhou as an oil and petrochemical hub for south China.

Iran Government to Submit Petrochemical Bill

Energy Commission, Seyed Emad Hosseini, has asked the government to submit the three refineries' bill to the parliament sooner. The bill is aimed at producing more petrol inside the country to avoid imports.

20 billion USD invested in Algeria Petrochemical by 2008

Energy and mining minister Chakib Khelil claimed that Algeria is finalising two projects, one with Total and one with Armalt and four to five other petrochemical projects before 2008 of total investment value of 20 bln USD.

Emerson Process Managemen to digitally automate Fujian Refining and Ethylene Joint Venture Project in Quanzhou City

The largest integrated refining and petrochemicals project ever undertaken in China is planned to be startup by 2009. Emerson completed front-end engineering and design in September 2006, and is proceeding with project management, engineering, integration, testing, commissioning and other site services, with work being done out of its Pudong, Shanghai, facility.

Emerson will serve as the Main Instrument and Controls Contractor (MICC) on the project, and will install its PlantWeb digital plant architecture. The Fujian Refining and Ethylene Project is a joint venture by Fujian Petrochemical Company Limited (a 50/50 venture between Sinopec and Fujian Province) (50%), ExxonMobil China Petroleum and Petrochemical Company Limited (25%) and Saudi Aramco Sino Company Limited (25%). The project will expand the existing refinery at Quanzhou, Fujian Province from 80,000 barrels-per-day to 240,000 barrels-per-day. The upgraded refinery will primarily refine and process sour Arabian crude.

Senegal to house Iran's oil refinery and chemical plant

Iran plans to build an oil refinery and petrochemical plant in Senegal.




US$390 million petrochemical plant in Qatar invested by South Korea's Honam Petrochemical Corp

Honam Petrochemical and Qatar Intermediate Industries Holdings Co. Ltd., a unit of state-owned Qatar Petroleum, have signed an agreement to work together on the US$2.6 billion (€1.9 billion) project. Qatar Intermediate Industries will invest US$910 million (€660 million) in the complex by the second half of 2011, said a Honam Petrochemical spokesman.

Largest Polyolefin Producer, Basell offered to buy the Shell oil refinery

Basell has made an offer to buy Shell oil refinery and associated infrastructure and businesses at the Berre l'Etang petrochemical complex in France forUS$700 mln. Transaction is expected to close early 2008. Acquisition of the refinery which produces naphtha, liquefied petroleum gas (LPG), fuels for a variety of applications, bitumen and heating oil provides a further backward integration of Basell's activities at the Berre site.

Basell is currently the largest customer of the Shell refinery, on account of its world-scale polypropylene and polyethylene plants, a steam cracker and butadiene extraction unit at the same site and a nearby polyethylene plant.