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Old June 20th, 2019, 07:10 AM   #481
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Petronas, Aramco start naphtha cracker at new Pengerang refinery

The source added that naphtha was imported this month specifically for the cracker, which had started recently though an exact time frame could not be confirmed



Sourced from TheStar today



ps so some kind of operations had stated already at RAPID Pengerang eh ???

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Old June 24th, 2019, 05:56 AM   #482
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Petronas: Our strong fundamentals remain unchanged despite downgrade

This is demonstrated by Petronas' recent financial results in the first quarter of 2019 and full year 2018, which was supported by our continuous efforts to increase operational efficiency and commercial excellence


Sourced from TheStar today



ps maybe Moody's recently changed the methodology of their ratings that had an effect on Petronas eh !!!

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Old July 1st, 2019, 06:11 AM   #483
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PCG, Plastic Energy sign MoU on addressing plastic waste
POSTED ON JUNE 28, 2019, FRIDAY AT 12:11 AM BUSINESS


Quote:
KUALA LUMPUR: Petronas Chemicals Group (PCG) yesterday signed a memorandum of understanding (MoU) with Plastic Energy Ltd, a chemical recycling company, to collaborate in addressing plastic waste that cannot be recycled by conventional means in Malaysia.

The strategic collaboration marks the first step towards a circular economy which maximises the plastics value chain.

PCG and Plastic Energy will jointly perform a feasibility study to establish a facility to convert plastic waste into an optimal feedstock (Tacoil) to create recycled virgin-quality plastics from low quality, mixed plastic waste otherwise destined for incineration or landfill.


“Depending on the outcome of the study, PCG and Plastic Energy may consider building a commercial plant in Malaysia,” said PCG in a statement.

The collaboration will enable PCG to utilise Tacoil, produced by Plastic Energy for polymer production at its petrochemical complex, the Pengerang Integrated Complex, and obtain circular polymer certification from International Sustainability and Carbon Certification (ISCC).

Plastic Energy has successfully commercialised a patented thermochemical conversion technology to convert end-of-life, contaminated plastics and plastics that are hardly recyclable for conventional processes into usable feedstock. Currently, Plastic Energy has established two commercial plants in Seville and Almeria, Spain.

Once materialised, PCG will be the first petrochemical company in Southeast Asia to invest in a chemical recycling project which converts mixed plastics waste into virgin quality polymer.

PCG managing director/chief executive officer (CEO) Datuk Sazali Hamzah said the partnership with Plastic Energy is in line with the company’s plan towards becoming a progressive energy and solutions partner that enriches lives for a sustainable future.

Founder and CEO of Plastic Energy, Carlos Monreal said : “Malaysia has shown that it is serious about tackling the challenge of plastics waste.

“We are excited to be part of the solution, and to collaborate with PCG in changing the paradigm and turning plastics waste into a valuable resource, thereby contributing to the creation of a circular economy.” — Bernama
https://www.theborneopost.com/2019/0...plastic-waste/
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Old July 1st, 2019, 06:41 AM   #484
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Petronas says Anuar remains in his position

It said in a statement that Mohd Anuar remained in his position as Petronas EVP and CEO of upstream activities


Sourced from TheStar today



ps so some media reports cannot be relied upon meh hehehe !!!

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Old July 30th, 2019, 05:32 AM   #485
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PCG to spend US$12 billion for future deals
POSTED ON JULY 27, 2019, SATURDAY AT 12:11 AM BUSINESS
Shamsairi Mohd Ibrahim


Quote:
KOTA TINGGI: Petronas Chemicals Group Bhd (PCG) has earmarked about US$12 billion to be spent over the next 18 years for future deals, with the focus on specialty chemicals.

Head of commercial Shamsairi Mohd Ibrahim said this plan also includes mergers and acquisitions (M&As) as well as identifying more projects especially those that fulfil the company’s three-pronged growth levers.

To date, he said PCG has shortlisted 20 projects in derivatives and specialty chemicals to be potentially developed at the Petronas Refinery and Petrochemical Integrated Development (RAPID) in Pengerang, Kerteh in Terengganu or elsewhere in the world.

“Da Vinci is one of the projects that we have acquired…and more will be coming.

“Those are projects (20 projects) that we have earmarked, but there are also companies that are knocking on our door that want us to be their partners, so those are the things that we are evaluating,” he told reporters at a media familiarisation visit to the petrochemical project site at the Pengerang Integrated Complex (PIC) in Pengerang on Thursday.


In May, PCG acquired Da Vinci Group B.V., a Netherlands-based company, marking its foray into specialty chemicals markets as the latter has global operations in those markets. Shamsairi said all these are in line with their strategy as they target 25 per cent of the product portfolio to come from differentiated and specialty products by 2037.

“Currently, specialty products only account for barely two per cent (of the total product portfolio), then the isonanol will increase (the specialy portfolio) to five per cent, and we will continue to put on new capacity so by 2037, we target 25 per cent of the product portfolio is based on those products, differentiated and specialty products,” he said.

Specialty chemicals can be used to produce perfume, vitamins as well as animal feeds.

The group’s business is primarily in the manufacturing, marketing and selling of a diversified range of chemical products including olefins, glycols, polymers, fertilisers, methanol and other derivatives products.

It has a total combined production capacity of 12.8 million tones per annum with operations spanning across seven world-class production sites in Malaysia, two of which are fully vertically integrated from feedstock to derivatives and specialty chemicals. — Bernama
https://www.theborneopost.com/2019/0...-future-deals/
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Old July 31st, 2019, 09:10 PM   #486
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Petronas, Japan's JXTG may buy stake in India's Bina oil refinery — source
Reuters July 29, 2019 18:29 pm +08
Quote:
MUMBAI (July 29): Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said.

The Bina plant in central India, capable of processing 156,000 barrels per day (bpd) of crude oil, is operated by Bharat Oman Refineries Ltd (BORL), a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp (BPCL).

"There are a new set of companies who have approached BPCL for a stake in its Bina refinery," said the source, who asked not to be named as the discussions are private.

BPCL plans to double the capacity of the refinery in next five years and build a petrochemical complex that would require an investment of about 500 billion rupees (US$7.24 billion), the source said.

Bharat Petroleum did not respond to a request for comment. Petronas and JXTG were not immediately reachable for comment.
https://www.theedgemarkets.com/artic...2%80%94-source
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