Rosneft and Pertamina have established a joint venture (JV) to build a grassroots refinery and petrochemical complex at Tuban, East Java, Indonesia.
The JV company, PT Pertamina Rosneft Pengolahan dan Petrokimia Indonesia, was established in accordance with a JV agreement signed in October 2016, Rosneft says. Pertamina owns a 55% stake in the JV and Rosneft owns the remaining 45%.
The project includes a refinery designed to process 15 million metric tons/year (MMt/y) of medium and heavy sulfur crude oil grades. The targeted capacities of the petchem complex are more than 1 MMt/y of ethylene and 1.3 MMt/y of aromatics, adds Rosneft.
Rosneft says that the JV will assist the company to expand its footprint in Indonesia’s energy market. The refinery will produce motor fuels for the growing local market that currently imports the bulk of its refined products. Indonesia also has a big deficit of petrochemical products and polymers such as polyethylene and polypropylene, according to Rosneft.
By Kartik Kohli
Source: Chemical Week
INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.