Archive | June, 2009

Russians beat Americans in European oil deal

Russian oil and chemical group Lukoil has stymied the US’ largest oil processing group Valero’s attempt to increase its presence in Europe, according to the Tehran Times, quoting Reuters. Lukoil acquired a 45% stake in a Dutch refining venture Vlissingen refinery from France’s Total for $725 m. It can process about 190,000 barrels a day. […]

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Rompetrol to issue shares for petchems

Looks like Romania’s Rompetrol is doing a big, new, share capital release in order to fund petrochemical developments. According to seenews.com, the group wants to raise E58.9m for petchems. Here are some exerpts from the story:“Rompetrol Rafinare (RRC), the operator of the Petromidia refinery, the most important asset of the Rompetrol group, controlled by Kazakh […]

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Brenntag responds to German cartel investigation

Today I spoke to Steve Holland, Brenntag Europe‘s CEO. He assured me the investigation (see earlier entry) is routine. He said the jv had been approved by competition authorities which now want to check that it meets the latest regulations. “When this jv was formed over 10 years ago it went to the German authorities […]

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Gas cuts kill Ukraine’s petrochemical sector

Fascinating new petrochemicals report out, seen on pr-inside.com which shows how badly the country’s industry was hit by the dispute with Russia over gas exports. It talks about a “collapse” in January. I remember someone at the ICIS team trying to get these figures at the time but we were told everything was just fine.Here […]

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Stormy meeting for Unipetrol?

Unipetrol, part of Poland’s PKN Orlen, has had a tough time of it in recent months. Political interference at head office in Poland means every time there is a change of government in Poland, a new set of managers are appointed at Orlen.This contributed to the resignation of Unipetrol’s CEO, Francois Vleugels, earlier this year. […]

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Sibur gives up plans for MBO

The Russian chemical major said today it will not relaunch plans for management buyout. According to ICIS news, its CEO Dmitry Konov ruled it out due to the recession. He said the $5.4bn deal is now “off the agenda”.I remember the last time Sibur managers tried to do an MBO, back in 2002. It all […]

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Krahn Chemie signs distribution deal

Germany, Hamburg-based distributor Krahn Chemie is to distribute rubber chemical products for NOCIL, which was spun out of Monsanto, according to Chemie.de Krahn Chemie operates across Europe, including Hungary, Poland and the former Yugoslavia region.“In the past years, NOCIL has proven to be a very reliable supplier to the rubber industry”, says Helmut Waibel – […]

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Brenntag probe: what will the impact be on its other regions?

I recently interviewed Clare Waters, managing director of Brenntag UK and wrote up an article on the group’s growth aspirations. Yesterday’s report makes me wonder what the impact of this investigation will be on the wider Brenntag group in CEE and elsewhere.Here is the report in full: German Bundeskartellamt expands antitrust investigations According to reliable […]

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Cartel bureau questions for Brenntag and others

According to industry contacts there are questions from cartel regulators in Germany for Brenntag and others. Will there be an impact on their activities in Eastern Germany and CEE?

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Cargill to expand agrochems in Hungary

Hidden at the bottom of the story “Agrograin migrates to Cargill brand in Hungary” from the site All About Feed is a line about its chemicals strategy: “Meanwhile, Cargill is further expanding its activities in Hungary to include supplying more farmers with seeds, chemicals and fertilisers.”

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