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Showing 1 to 6 of 6 entries


News	Kokel, Nicolas Maruzen Chiba 2025/04/27 06:05 AM Sumitomo and Maruzen to Consolidate Ethylene Production at Keiyo Ethylene in Chiba. View Main Message Ethylene Production Optimization in the Chiba Area scheduled for completion in fiscal year 2026. April 1, 2025 Sumitomo Chemical Co., Ltd. and Maruzen Petrochemical Co., Ltd. (a subsidiary of Cosmo Energy Holdings Co., Ltd.) have announced a significant change to their ethylene production operations in the Chiba area. Maruzen Petrochemical will shut down its own ethylene production facilities by fiscal 2026, and all ethylene production will be consolidated at Keiyo Ethylene Co., Ltd. Keiyo Ethylene is a joint venture between Maruzen Petrochemical, which holds a 55% ownership stake, and Sumitomo Chemical, which holds 45%. The shareholding ratio will remain the same after the consolidation. This move comes in response to several challenges facing the industry, including a global oversupply of ethylene due to new, large-scale plants in China, as well as declining domestic demand for ethylene in Japan. Both companies recognize the need to improve operating rates, lower costs, and reduce CO₂ emissions to remain competitive. By consolidating production at Keiyo Ethylene, which is Japan’s most advanced and largest ethylene facility, Sumitomo Chemical and Maruzen Petrochemical aim to increase the operating rate and competitiveness of the Chiba petrochemical complex. The consolidation is also expected to lower fixed costs and advance green transformation initiatives, supporting the companies’ efforts to achieve net zero carbon emissions. The Maruzen Chiba Plant, operated by Maruzen Petrochemical since April 1969, currently has a capacity of 525,000 tons per year (or 480,000 tons during repair years). Keiyo Ethylene, which began operations in December 1994, has a capacity of 768,000 tons per year (or 690,000 tons during repair years). The optimization and consolidation of ethylene production are targeted for completion by fiscal year 2026. Overall, this consolidation is designed to ensure the long-term competitiveness and sustainability of the Chiba petrochemical complex by focusing production at the most efficient site and supporting environmental goals. #sumitomo #maruzen #chemicals #ethylene #chiba #japan #consolidation #keiyo #cracker #steamcracker #ethyleneplant #plantclosure
News	Kokel, Nicolas KEC KEC 2025/04/26 11:26 AM Keiyo Ethylene Company added. View Main Message Keiyo Ethylene Company has been added, and Chiba ethylene plant with production capacities added. #keiyo #kec #ethylene naphthacracker #chiba #japan #maruzen #sumitomo #steamcracker
Technology	Kokel, Nicolas Sumitomo MMA 2024/12/29 08:58 PM Sumitomo MMA technology description updated. View Main Message Sumitomo MMA technology description has been updated. #sumitomo #mma #pmma #isobutene #oxidation
Technology	Kokel, Nicolas Sumitomo EVA/LDPE Technology 2024/12/29 05:37 PM Sumitomo LDPE/EVA Technology View Main Message Sumitomo LDPE/EVA dual-autoclave reactor technology, now licensed by Lummus Technology as Hyperlene, has been added. #lummus #sumitomo #autoclave #ldpe #polyethylene #ethylene #highpressure #hyperlene
Technology	Kokel, Nicolas Sumitomo PMMA 2024/12/28 06:23 AM Sumitomo PMMA Process description updated. View Main Message The description of the Sumitomo PMMA Process has been updated. #sumitomo #mma #pmma #polymerization
Finance	Kokel, Nicolas Petro Rabigh 2024/08/10 11:48 AM Aramco to become majority shareholder in Petro Rabigh View Main Message Credit: Petro Rabigh, Rabigh Phase 1 Saudi Aramco, has signed a definitive agreement to acquire an additional stake of approximately 22.5% in Rabigh Refining and Petrochemical Co. (“Petro Rabigh”), the refining and petrochemical complex located on the Kingdom of Saudi Arabia’s west coast, from Sumitomo Chemical for $702 million. Aramco and Tokyo-headquartered Sumitomo Chemical currently each own 37.5% of shares in Petro Rabigh, which was listed on the Saudi Exchange in 2008. Upon completion of the transaction, which is priced at SAR7 per share, Aramco will become Petro Rabigh’s largest shareholder with an equity stake of approximately 60%, while Sumitomo Chemical will retain an equity stake of 15%. The transaction, which is subject to customary closing conditions including regulatory approvals and other third-party approvals, is part of a package of financial measures intended to reinforce Petro Rabigh’s financial position. Under the terms of the share sale and purchase agreement, all proceeds received by Sumitomo Chemical from the sale will be injected into Petro Rabigh, through a mechanism to be agreed with Petro Rabigh. Aramco will also provide additional funds to Petro Rabigh, via a mechanism also to be agreed, matching the $702m from Sumitomo Chemical to improve Petro Rabigh’s financial position and support Petro Rabigh’s future strategy, bringing the aggregate injection amount to US$1.4 billion. In addition, Aramco and Sumitomo Chemical have agreed to a phased waiver of shareholder loans of $750m each, which will result in a $1.5bn direct reduction in Petro Rabigh’s liabilities. These measures are expected to improve Petro Rabigh’s balance sheet and cash liquidity as part of a remedial plan that Aramco and Sumitomo Chemical intend to explore with Petro Rabigh, which also includes initiatives to upgrade the refinery with the aim of helping improve the profitability of the business. The agreement also aligns with Aramco’s downstream expansion and Sumitomo Chemical’s move away from commodity chemicals toward specialty chemicals. Source: Aramco news, 7^th Aug 2024 #refining #refinery #aramco #sumitomo