2005/4/11 Foster Wheeler　　　　　　　　　　　　　　　　　内蒙古計画

Foster Wheeler/Huanqiu JV Awarded Coal-to-Liquids Study Contract in China
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=fwhlf.ob&script=417&layout=-6&item_id=693845

Foster Wheeler Ltd. announced today that its UK subsidiary, Foster Wheeler Energy Limited, in a joint venture with China Huanqiu Contracting & Engineering Corp., has been awarded a feasibility study Stage I contract by Sasol Synfuels International (Proprietary) Limited (Sasol) and its Chinese partners, China Shenhua Coal Liquefaction Corporation Ltd. and Ningxia 寧夏Luneng Energy and High Chemistry Investment Group Co., Ltd. (jointly called "the Combined Chinese Working Team").

The Foster Wheeler contract value was not disclosed. The project will be included in the company's first-quarter 2005 bookings.

The contract is related to two 80,000 barrels per day coal-to-liquids (CTL) facilities to be located at Ningxia Autonomous Region and Shaanxi Province, respectively, both in the coal-rich western part of the People's Republic of China.

"Foster Wheeler is delighted to be awarded this contract by Sasol and the CCWT," said Steve Davies, chairman and chief executive officer of Foster Wheeler Energy Limited. "This first use of Sasol's CTL technology outside South Africa builds on the relationship developed over the last eight years between Foster Wheeler and Sasol, optimizing and engineering the application of Sasol's gas-to-liquids (GTL) technology in the global marketplace, and on our long track record of delivering successful projects in China.

"Coal-to-liquids is a key part of the Chinese government's energy strategy, and we are pleased to be involved at the early stages of its implementation and to be involved with other companies so well-placed to ensure its rapid and commercial development," continued Mr. Davies.

Coal-to-liquids comprises an integrated process for the conversion of coal into selected fuel products such as diesel, naphtha and liquefied petroleum gas by using a combination of three principal processes, i.e., gasification of coal to synthesis gas, conversion of gas-to-liquids and hydrocracking the converted products into fuel products. The three processes will involve separate technologies, central to which is Sasol's low-temperature Fischer-Tropsch technology for the conversion of synthesis gas to liquid fuels.

The Foster Wheeler/Huanqiu joint venture will evaluate the available technologies for the projects and complete feasibility study Stage I work to integrate these with the associated utilities and infrastructure systems in order to maximize the value of the project to its shareholders. Huanqiu will provide gasification experience together with the essential local technical, commercial and legislative information to ensure the study conclusions are robust.

The study is scheduled for completion by the end of the year.

Platts 2005/4/20

China may become net methanol exporter in several years: Tecnon

China could become a net methanol exporter in a few years, unless the methanol price drops below $140-150/mt, said Russell Phillips, consultant at Tecnon OrbiChem, at the opening of the first International Methanol Conference in China, Wednesday. The two-day conference in Shanghai, is organized by the International Methanol Producers and Consumers Association in cooperation with Tecnon and local chemical information service provider Chemease.

Methanol imports in China have slipped from 1.80-mil mt in 2002 to 1.40-mil mt in 2003 and to 1.36-mil mt in 2004. The trend is likely to continue as Chinese methanol producers are expanding their plants' capacities over the coming years. However, as Chinese traditional methanol producers use gas retrieved from coal-gas as feedstock, they need a minimum methanol price of around $140-150/mt to break even. As of last week, Chinese methanol spot prices were steady at around $260/mt CFR, thus still largely profitable for producers.

2005/5/13 Sinopec

Sinopec Chemical Sales Branch Company Set Up in Beijing
http://english.sinopec.com/en-newsevent/en-news/2518.shtml

On 10 May 2005, China Petroleum & Chemical Corporation (Sinopec) had its Chemical Sales Branch Company (Chemical Sales Branch) officially set up in Beijing.

Zhang Jianhua, Senior Vice President for Sinopec, presided over the conference in celebration of the incorporation of the Chemical Sales Branch, and read out the written documents regarding the incorporation of the Chemical Sales Branch Company and the establishment of its three regional branches respectively in Beijing, Shanghai and Guangzhou. Chen Tonghai, GM for China Petrochemical Corporation (Sinopec Group) and Chairman for Sinopec, Wang Jiming, Vice Chairman for Sinopec, jointly unveiled the plaque for the Chemical Sales Branch. Chen Tonghai, Wang Jiming and Wang Tianpu, President for Sinopec later conferred the plaques to the three regional branches respectively.

Over more than past 2 decades, Sinopec has embraced quick business expansions and also undergone multiple reforms, and has now turned out China’s largest manufacturer and seller of oil products, and chemical products. In terms of oil refining capabilities and ethylene producing capabilities, Sinopec has been ranked in the 4th place and the 6th place respectively among other players in the world. Seen from the perspectives of oil refining and sale of finished oil products, Sinopec has already built up a oil products marketing network comprising oil refineries, pipelines, oil depots, and petro stations. Besides, Sinopec is now obtaining even stronger abilities in dominating the domestic market of finished oil products. Seeing from the perspectives of production and sale of chemical products, Sinopec’s ethylene production capacity has accounted for 4.25 million tons/year in 2004, constituting more than 70% of the country’s total in the same year. As the Yangzhou-based BASF project and Secco-based ethylene project were put into production already, and with the launch of new ethylene projects and also expansion of certain existing ethylene projects, Sinopec’s chemical products are going to expand an increasingly expanding share in the market.

Due to many reasons (in historical and other terms) however, Sinopec has always had its chemical products distributed in a separated way, and failed to lick into shape a “one-fits-all” distribution network, set up a uniform “Sinopec Brand”, and establish its marketing edges by means of its established competitive edges in terms of product technology. As a consequence, Sinopec has been impeded from readjusting its product mix, developing new products, exploring the market into depth, distributing its resources, managing its customer base, constructing its distribution network, planning out and optimizing its operation strategy and marketing strategy, bringing into play its overall advantages established in the chemicals segment and gaining even stronger competitive forces in the market; in the meanwhile, a vast number of Sinopec’s customers have also suffered much inconvenience in purchasing products turned out by Sinopec . In recent years, especially after China became a member of WTO and with the quickened pace of economic integration worldwide, the market scenario has undergone great changes; and the competitions among players in the market of petroleum and chemical products have grown fiercer and fiercer day by day. In an aim to stand out in the market that features increasingly intense competitions, Sinopec has adhered to its long-term strategy for overall business expansion, and also quickened up its pace in reforming its mechanism for marketing of petroleum and chemical products; besides, Sinopec has set up a Chemical Sales Branch Company, plus three regional branch companies in Beijing, Shanghai and Guangzhou respectively, in order to strike up and consummate a distribution network, which makes a fusion of the direct selling mode and the distribution mode (the direct selling mode plays a leading role). This move is of great significance for Sinopec to have its industrial chain integrated, give prominence to its core business, bring into full play its holistic advantages established by means of its integrative business operation, enhance its overall competitive forces in an all-round way, strengthen its abilities in dominating the market of petroleum and chemical products, and also maximize its benefits as a whole.

Wang Tianpu pointed out in his speech delivered in the plaque-unveiling ceremony that, “after this Chemical Sales Branch Company was established, Sinopec shall, under the precondition of retaining its current market share, distribution system and customer base, and also realizing a smooth transition from the old distribution system to the new distribution network, and pursuant to the requirements in the new operating system and mechanism, unify its marketing strategies, market exploration practices, logistics optimization practices, resources deployment practices, selling behaviors and brand awareness promotion strategies; accomplish the planning and deployment of its marketing network as quickly as possible; standardize its customer relations management practices; put its distribution channels in due order; consummate various intramural management systems and measures of its own; do its utmost to start trial operation in July, and put the ERP system into service, and initialize the fresh mode of business operation in a comprehensive way, by the end of the year. He hopes that those oil refining and chemical production enterprises affiliated to Sinopec shall take into account the holistic business needs of Sinopec , coordinate closely with this Chemical Sales Branch Company, follow the demands in the market, organize their production work as planned, have such links as production, distribution and research associated smoothly on their initiatives, and concentrate their efforts on performing such tasks as improvement of product quality, expansion of product variety, substitution of imports by use of domestically-produced counterparts, and reduction of operating costs, as well. During the reform- reform-incurred transition period, it is necessary to stabilize the team of marketing specialists, cling to the marketing strategy featuring “follow the market demands closely, sell out all products turned out, and realize the optimal selling prices in the current period”, and do a brilliant job in marketing work, for the nonce.

In the end, Wang Tianpu accentuated that after the Chemical Sales Branch Company was set up, Sinopec would adhere to its business motto, characterized by “effective competition and constant opening-up” as ever, honor its guiding principles of “standardized business practices, integrity and solid creditworthiness”, stick to its creed “get adapted to the market demands and serve customers with a considerate attitude”, intensify its communication with a vast number of its customers further still, improve mutual understanding of and cooperation with its business partners, boost the common developments of both the buyer and the seller in a balanced manner, and create a “win-win” situation, as well as contribute to the sustainable development of China’s petroleum and chemical industry.

日本経済新聞　2005/6/24

ユノカル買収 中国参戦　中国海洋石油が名乗り
　シェブロンと対決　米政府・議会に懸念の声も

　米石油大手ユノカル買収に中国海津石油(ＣＮＯＯＣ）が再び参戦、買収に合意済みの米シェブロンと争うことになった。世界的に油田開発が困難ななか、米国を舞台に、資源確保に熱心な中国を巻き込んだ再編競争が始まった。米政府・議会には国営企業による買収は安全保障上好ましくないとの議論もあり、米中関係にも影響しそうだ。
　ユノカルの昨年の確認可採埋蔵量は原油換算で約１７億５４００万バレルで、そのうち半分近くがアジア地域にある。ＣＮＯＯＣは地元に近い地域に新規の開発投資をせず有力油田を手中に収めることができる。生産量は２倍、埋蔵量も８割増やせる。
　年初にＣＮＯＯＣの買収の意向が明らかになったが、４月にシェブロンが買収合意し、両社の取締役会も了承、米連邦取引委員会(ＦＴＣ)の許可も下り大詰めを迎えていた。シェブロンはこれまで比較的手薄な中国やインドヘの輸出を伸ばす格好の拠点とみている。
　ユノカルの２００４年１２月期の売上高は約８２億ドル、純利益は１２億ドルで、シェブロンは買収しても米トップのエクソンモービルとの差は縮まらない。ただ、埋蔵量が伸び悩むなか、投資効率の悪い新規の油田開発より、手っ取り早く埋蔵量を増やせる企業買収が有利と判断、時価総額約１７６億ドルのユノカルは比較的手ごろだった。欧米メジャー４社の手元資金は合計４００億ドルを超え、今後も有望な油田を持つ米企業が買収の対象になる可能性がある。
　ＣＮＯＯＣはまず株主の同意を得る必要がある。ユノカル１株当たりの買い付け価格をシェブロンより２ドル高い６７ドルに設定し、「我々の提案は友好的で内容はユノカル株主に魅力的」などと支持獲得に自信を見せる。シェブロンは今のところ大きな動きは見せていない。ユノカルも現状では合意済みのシェブロンによる買収を後押しする方針。仮にＣＮＯＯＣが株主の支持を集め始めればシェブロンは買収金額の引き上げなど条件見直しを迫られそうだ。
　ＣＮＯＯＣ提案についてボドマン米エネルギー長官は「海外企業による買収が安全保障に抵触しないか検討する必要がある」などと述べた。有力議員の中にも国営企業による買収に批判的な見方が出ている。

中国海洋石油　資源確保を最優先

　中国国有三大石油会社で最も規模が小さく財務体質も弱い中国海洋石油(ＣＮＯＯＣ）が米ユノカル買収を目指す背景には、巨額投資のリスクより石油の安定確保を優先する国策と、生き残りのために事業拡大を急ぎたいＣＮＯＯＣの事情がある。
　関係者によると１８５億ドルの買収資金のうち３０億ドルは自己資金で、残りは借り入れに頼る。財務体質を悪化させる
との見方も多く、投資判断引き下げの動きもある。
　買収についてＣＮＯＯＣ内でも意見が割れた。董事会(役員会)メンバー８人のうち民間出身で外国人の非常勤董事４人が「リスクが大きい」として反対。董事会は２３日午前２時までもつれ込んだ。「企業価値からすると高くない」とする国策優先派の董事長らが押し切ったもようだ。
　同社は中国近海の海洋石油開発を独占してきたが、エネルギーの自由化を受け中国石油(ペトロチャイナ)など他の大手２社が同分野へ参入。収益の先行きは不透明感が強い。２００６年までに１６の海底油田で操業を始める計画をまとめるなど事業拡大に必死だ。
　今回の買収案に政府の意向が強く働いたのは間違いない。中国は５月に「エネルギー指導小組」を設置し温家宝首相が組長に就任。同組織の最重要課題は石油の安定確保のために海外油田開発を強化すること。買収資金についてある国有金融機関は「石油のためならいくらでも貸す」としている。

日本経済新聞　2005/8/3

中国海洋石油、ユノカル買収を断念・米議会の反発で

　米石油大手ユノカルに買収提案していた中国海洋石油（ＣＮＯＯＣ）は2日、買収を断念したと発表した。米議会からの反発が予想以上に強く、条件を引き上げても成功の見込みは薄いと判断した。中国企業による初の米エネルギー大手買収は自らの撤退で幕切れとなり、ＣＮＯＯＣと競合していた米シェブロンがユノカルを買収する可能性が濃厚になった。

　ＣＮＯＯＣは6月22日、ユノカルに対しシェブロンを大きく上回る185億ドルで買収を提案した。しかし先週、米議会がＣＮＯＯＣによる買収阻止条項を含むエネルギー法案を可決。買収を断念した。ＣＮＯＯＣは2日、ホームページに掲載した声明文で、買収提案取り下げの理由について「米国内の政治的な環境は、買収の不確実性を高め、受け入れがたいリスクを生じさせた」と説明した。

　ユノカルは8月10日に株主総会を開き、シェブロンによる買収の承認を株主に求め最終決定する。

2005/6/29 Vopak

Vopak starts development of sixth terminal in China 江蘇省張家港
http://www.vopak.com/press/137_591.php

* Vopak starts development and construction of new chemicals terminal in Zhangzijagang, China
* Vopak’s sixth terminal in China and the first fully-owned
* Terminal to be operational in 2008

Koninklijke Vopak N.V. (Royal Vopak) announces that it has reached agreement with the local authorities of Zhangzijagang in Jiangsu Province, China, on the long-term lease of around 48 hectares of land to build a state-of-the-art terminal. In this bonded area in the industrial park of the Free Trade Zone in Zhangzijagang, Vopak will start development and construction of a new chemicals terminal.

Zhangzijagang is situated on the southern banks of the Yangtze River, about 140 kilometres northwest of Shanghai, in the Yangtze River Delta area. This area accounts for approximately 20% of China’s Gross National Product and 25% of the country’s total industrial output.

The terminal will serve partly as an industrial terminal supporting the manufacturing activities of the multinational chemical companies in the industrial park where it will be built. Furthermore, the excellent location of Zhangzijagang will enable the terminal to offer break bulk services of chemicals in the Yangtze River Delta area.

In the first phase, the terminal will have a storage capacity of around 200,000 cbm and will be taken into operation in 2008. At present, the design and scope of the terminal are being finalised in order to start the selection process of the engineering/construction company.

Vopak has been active in China since the beginning of the 1990s and has since established a network of five terminals, in different joint ventures, along the Chinese coastline. The new terminal in Zhangzijagang will be the first Vopak terminal in China that is fully-owned by the company.


Profile
Royal Vopak is a global independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. Upon request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 72 terminals with a storage capacity of more than 20 million cbm in 29 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.

* 日本ヴォパックは、世界最大の液体貨物ロジスティクス カンパニーであるRoyal Vopak社(オランダ・ロッテルダム)、日本通運株式会社、長瀬産業株式会社のジョイントベンチャーです。

Shandong Business Net 2005/6/30

中国最大の民営石油連合企業が発足
http://www.trade.gov.cn/japanese/php/show.php?id=567

　30余社の民営石油企業が加盟する「長聯石油株式会社」（英語名：Great United Petroleum Holding Co. LTD、略称：長聯石油、GUPC）が6月29日北京で設立され、これはこれまでのところで、中国最大の民営石油連合企業であると見られている。

　長聯石油株式会社（略称：「長聯石油」）は数多くの民営石油・天然ガス企業が共同で設立したもので、石油の探査・採掘、精製・石化、石油の輸入貿易、卸売り・小売を主な営業内容とし、「逐次拡大する」というパターンで上流、中流、下流の民営石油企業を加盟させ、さまざまな民営石油企業に「オープンな平等に参与し、協力して共にメリットを手にする」という受け皿をつくるものである。

　同企業の短期間の戦略としては民営石油企業の資源の連合を通じて、石油と天然ガスの探査・採掘、精製・石化、石油貿易、石油の物流、石油の小売と卸売りを一体化させた石油産業のチェーンを逐次形成させ、比較的競争力のある大型石油会社を目指し、石油産業の国際競争と協力に参与し、海外の石油 ・天然ガス資源の獲得などの分野で積極的な役割を果たすことになる。

　背景としての資料：長聯石油株式会社（英語名：Great United Petroleum Holding Co. LTD、略称：長聯石油、GUPC）は数多くの民営石油・天然ガスの企業が共同で設立した、石油の探査・採掘、精製・石化、輸入貿易、石油の卸売り・小売を主な経営内容とする合同経営実体である。現在、30余社の民営石油企業が加盟しており、さらに少なからぬ石油企業が今後これに加盟することになっている。

　同企業の主旨としては、「中華民族の精神を発揚し、各方面の力を組み合わせて大手の民営石油企業をつくりあげることにある。海外の石油・天然ガス資源を開発して、国内における石油供給の不足を補てんし、中国のエネルギー安全を確保する」というものである。

　長聯石油株式会社は石油・天然ガスの探査・採掘、原油の加工、精製、石油液化ガス、液化天然ガス、石油製品、燃料オイル、加工済みの石油製品（ガス、石炭、ディーゼル・オイル）、潤滑油の生産、卸売り、小売り、備蓄、輸送、石油産業への投資、情報提供、コンサルティングを主な経営内容としている。同企業の現在の資産規模は50-100億元で、経営資産は1000億元に達する。

＊当初の社名案は　Great Wall United Oil Group Corporation

日本経済新聞　2005/7/13

中国石油事業 外資が攻勢
　米エクソンとサウジアラムコ シノペックと共同 精製・小売り一貫で

　米エクソンモービル、サウジアラビア国営石油会社(サウジアラムコ)、中国石油化工(シノペック)の３社は福建省で石油精製、石化製品生産、小売りの一貫事業を共同で展開することで合意した。外資側は別の製油施設への出資も検討中で、成長市場に攻勢をかける。中国政府には石油資源を持つ欧米の石油メジャーや産油国企業を引き込み、原油の安定調達につなげる狙いもある。

　シノペックは福建省の製油所の生産能力を現在の日量８万バレルから２００８年には３倍の２４万バレルに引き上げる計画。これにエクソンとサウジアラムコが参加する。総額３５億ドルでエクソン、アラムコがそれぞれ２５%、シノペックが５０%出資する。
　今回の合意では共同でエチレン、ポリプロピレンの生産設備を導入するほか、６００カ所でガソリンスタンドも運営する。昨年末の小売り自由化以降、英蘭ロイヤル・ダッチ・シェルが江蘇省で、英ＢＰは広東省で合弁によるスタンド出店に合意している。エチレン分野でもシェルが広東省、ＢＰが上海で事業を進行中だが、欧州勢に比べ出遅れ気味のエクソンは外資で初めて石油精製、化学、小売りの総合事業に参加、成長著しい分野を一気に囲い込む。アラムコもサウジ産重質原油の輸出拡大を狙う。
　エクソンはほかにも広東省で製油施設への出資を検討している。アラムコは「山東省で建設中の製油施設についても、シノペックと出資の話し合いをしている」(アブドラ・ジュ一マ社長兼最高経営責任者)という。
　中国政府は原油の安定確保を経済政策の優先課題に掲げ、国有石油会社による海外鉱区への投資を後押ししている。並行して国内の製油や小売り分野を開放し、石油メジャーがそれに必要な原油を安定的に調達すれば、国際的なサプライヤーを築けるとみている。

Platts 2005/8/2

China Garson defers indefinitely third EPS unit on over-capacity 嘉盛石化

China's Garson Petrochemical has postponed indefinitely the start up of its third expandable polystyrene unit in Jiangyin, pending a sustained recovery in cash margins, a source close to the company said Tuesday.

The delay is the latest in a series of others by Garson, as local EPS producers struggle against over-capacity in the country. Garson has two exiting 60,000 mt/yr lines, which have been operating at 50-60% capacity for nearly eight months, as have many other EPS plants in China. China's booming construction sector had led to a proliferation of new EPS plants coming onstream in the past five years. Nearly all of them are stand-alone plants, dependent on SM imports for feedstock. Until May, Garson had planned to commission the third 60,000 mt/yr line in the second-half of 2006. Its two existing units form a single plant, and the third 60,000 mt/yr line would eventually be an extension of the plant as well.

---

Asia Chemical Weekly 2004/4/23

China's Jiasheng defers launch of EPS line by 5 months to Aug-Sep

China's Jiangsu Jiasheng Petrochemical Industry (嘉盛石化) has deferred by five months the commissioning of its second expandable polystyrene line in Jiangyin, to August or September, a company source said.

Jiasheng, also known as Garson Petrochemical Industry, plans to start up its third EPS line in May-June next year. All three EPS lines have identical nameplate capacities of 60,000 mt/yr each. They will eventually be linked to form a single plant. Jiasheng's first line was operating at 70% capacity on Monday due to weak negative cash margins. Early Monday, China's styrene monomer and EPS markets were pegged at Yuan 9,000/mt ex-tank and Yuan 8,900/mt ex-work, respectively. This meant that local EPS producers were making losses of about Yuan 900/mt ($108/mt).

Platts 2005/8/26

China's Liaoyang to start PX line in Nov, capacity up to 650kt/yr 　　　遼陽石油化学( PetroChina group)

China's Liaoyang Petrochemical Co will commission a new 350,000 mt/yr paraxylene line by October or November this year, a company source said Friday. This would boost its total PX capacity to 650,000 mt/yr.
Plans have also been drawn up to start up another 530,000 mt/yr PTA line this year, although further details were unclear. The company's downstream production capacity at its site in Liaoning遼寧省, northeastern China, include 270,000 mt/yr of purified terephthalic acid, 100,000 mt/yr of monoethylene glycol and 300,000 mt/yr of polyethylene terephthalate. Liaoyang Petrochemical comes under the umbrella of PetroChina and represents the biggest fiber production base in North China.
Given China's preference for reverse integration in the polyester sector, China is one of the region's biggest consumers of PX, PTA and MEG.
However, major expansion plans for PTA and MEG production will change market fundamentals from a shortage to a surplus, possibly as soon as 2006, while PX supply is expected to stay tight.

December 23, 2003 UOP

PetroChina Liaoyang Petrochemical Company to Add Additional Para-xylene Capacity Using UOP Technology
http://www.uop.com/pr/releases/PR.LIAOHUA.final.pdf

UOP LLC has been selected by PetroChina Liaoyang Petrochemical Company (LIAOHUA) of Liaoyang, Liaoning, China to supply technology, basic engineering services, and equipment for a second para-xylene train for their facility in Liaoyang, Liaoning, China. The new plant is planned to start up in 2006 and produce 350 KMTA of para-xylene.
UOP’s project scope includes a new Parex? process unit for para-xylene purification and a new Isomar? process unit for xylene isomerization.
PetroChina Liaoyang Petrochemical Company of Liaoyang, Liaoning, China is a leading producer of polyester products in China. LIAOHUA has been operating a para-xylene production plant based on UOP technology since 1996.
UOP LLC, headquartered in Des Plaines, Ill., USA, is a leading international supplier and licensor of process technology, catalysts, adsorbents, process plants, and consulting services to the petroleum refining, petrochemical, and gas processing industries.

日本経済新聞　2005/8/29

中国製薬大手に外資出資　対未上場企業で過去最大規模

　中国の製薬大手、哈薬集団は外資系投資会社の出資を受け入れた。従来は政府の全額出資だったが、米系のウォーバーグ・ビンカス(Warburg Pincus：WP)と香港に本社を置く中国系の中信資本(CITICキャピタル)が計４５%の株式を取得した。両社は計約２億ドルを投じており、外資による中国企業の未上場株取得としては過去最大級とみられる。
　哈薬集団の姜林奎総経理が、今月に増資の手続きが完了したことを明らかにした。ハルビン市国有資産監督管理委員会の出資比率が従来の１００%から４５%に低下した一方、WPと中信資本が各２２．５%を取得。地方政府系の黒竜江辰能哈工大高科技風険投資が残り１０%を出資した。

中国国際信託投資公司（CITIC）グループ
1979年に設立された中国最大級の金融コングロマリットで、商業銀行業務（CITIC Industrial Bank、CITIC Ka Wah Bank）、投資銀行、アセットマネジメント業務（CITIC Capital）、証券ブローカレッジ業務（CITIC Securities）や信託業務（CITIC Trust）等を経営している。同グループは、多国籍企業との間でこれまでに300を超える合弁事業を営んできている。
三菱化学の中国ＰＴＡ計画のJV相手

中信資本 CITIC Capital Markets Holding Limited
北京の中国国際信託投資公司、香港のCITIC Pacific、香港のCITIC International Financial Holding Limited を株主とするCITIC Capital Markets Holding Limitedは、CITICグループの世界水準の金融専門知識や広範なネットワークを活用し、投資銀行、アセットマネジメントや証券ブローカレッジ業務を展開している。CITIC Capitalは、香港、上海、東京に拠点を有している。

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黒竜江省経済月報（2004年12月）
http://www.shengyang.cn.emb-japan.go.jp/jp/e-kokuryu0412.htm

　ハルビン市国資委、哈薬集団（ハルビン製薬集団）と中信資本投資公司、米国華平投資集団、黒龍江辰能哈工大高科技風険投資有限公司の投資方３社は14日、哈薬集団に対する20.35億元の増資契約に調印した。増資後、哈薬集団の総資産は105億元になり、ハルビン市国資委が45％の株を所有。また、中信22.5％、華平22.5％、辰能10％の株式を所有する。哈薬集団はハルビンを代表する大型企業グループで、上場株式会社２社、全額出資の子会社24社を抱える。全国の化学工業医薬品業界139社を対象にした今年１〜９月のデータによると、販売収入で第２位、利潤で第３位を記録。同集団は近年、国内外市場の激烈な競争、同業界の資本再編の波、海外の医薬品産業の中国市場参入などに直面し、02年より増資を模索していた。

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Business Day(Thailand)　 2004/12/21

Warburg Pincus buys stake in drugmaker

Warburg Pincus, Citic Capital Markets Holdings and a Chinese venture capital company agreed to pay 2.04 billion yuan (US$246 million) for 55 percent of Harbin Pharmaceutical Group Holding to help the drugmaker restructure and cut its ties with failed Southern Securities.
The world's second-biggest buyout fund and Citic Capital will take 22.5 percent stakes, while Heilongjiang Chenergy HiT High-tech Venture Capital will buy 10 percent, according to a statement filed with the Shanghai Stock Exchange. The Harbin city government will remain the largest shareholder with 45 percent.
The drugmaker, also known as Hayao Group, will use the funds to help buy back all shares it doesn't own in Shanghai-listed unit Harbin Pharmaceutical Group. That includes a 60.9 percent stake illegally held by Shenzhen-based Southern Securities, which was taken over by the government in January for “illegal and irregular operations, and disorderly management.”
“It's highly likely that the drugmaker plans to list the entire group overseas, which is why investment banks and buyout firms are interested in buying a stake,” said Wang Ping, an analyst at Industrial Securities in Shanghai.
Shares of Harbin Pharmaceutical were suspended from trading today. They rose 1.8 percent to 5.58 yuan on Friday, paring their decline this year to 41 percent. The benchmark Shanghai Composite Index has fallen 15 percent in the same period.
New York-based Warburg Pincus and Citic Capital, a unit of China's biggest investment company, will each invest about $100 million for their stakes, the companies said in a release distributed before a press conference in Beijing. Harbin Pharmaceutical, based in the capital of China's northeastern province of Heilongjiang, sells Chinese and Western medicines and healthcare supplements under the Hayao brand.
“This funding provides us with necessary capital to leverage both domestic and international opportunities in this growing market sector,'' Jiang Linkui, general manager of Hayao, said in the release.
The deal is the biggest takeover of a state company in Heilongjiang. The state will remain the company's controlling shareholder and the three investors aren't acting in concert, according to the exchange statement.
The investment will help solve the “serious problem” of the stake held by Southern Securities, Warburg Pincus managing director Chang Sun said in an interview before the press conference. Hayao will decide later whether to sell shares, Chang said.
“Southern Securities' big holding in the listed company has seriously hurt the interests of the shareholders, influenced share liquidity and brought big uncertainty to the company's future business,” the company said in its exchange filing. “The purpose of the stake purchase is to erase that gravely negative impact.”
Southern Securities, the nation's fifth-biggest brokerage, bought shares in Harbin Pharmaceutical using many accounts without declaring its stake, said Meng Qingliang, a fund manager at Haitong Securities in Shanghai.

日本経済新聞　2005/9/8

伊藤忠　中国で総合商社認可　国内外での投資 自由に

　伊藤忠商事は中国政府から国内販売と輸出入、国内外への投資活動が自由にできる総合商社としての認可を取得した。日本の商社では初めて。従来は外資規制に沿って中国に統括会社を置き、その傘下に営業活動をする現地法人を保税区に設立してきた。今後は統括会社１社で投資、営業活動を一貫して手掛けられるようになり、中国での事業効率化や収益拡大につなげる。
　認可は全額出資の中国統括会社、伊藤忠(中国)集団が取得した。昨年１２月の外資規制緩和で認められた「地域本部」と呼ぶ認可で、取扱品目に制限はなく、卸・小売りまでの国内販売、輸出入が可能になる。中国国外への投資活動も認められ、中国企業と共同で海外事業を進めやすくなる。
　地域本部として認可されるには、資本金１億ドルで３千万ドル以上の投資残高があることが条件。このため、統括会社の資本金を３６００万ドルから１億ドルに増やした。
　日本の総合商社では双日が８月に「商業企業」と呼ぶ認可を取得。国内販売、輸出入を自由にできる新会社を上海に設立するが、この認可は投資活動に関しては上限が純資産の２分の１までで、中国国外への投資はできない。伊藤忠の場合は、本体の総合商社機能をそのまま中国で展開できる。伊藤忠の２００５年３月期の中国での売上高は約５千億円、税引き後利益は４８億円で、０８年３月期までに利益を倍増させる計画だ。

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　地域本部（中国語は｢地区総部｣）とは、2004年２月、中国商務部が定める「外資系企業の投資による投資性公司の設立経営に関する規定」（商務部令2004年第2号、2004/11/23改定）に新たに追加された資格です。
　持株会社の中でも条件（※注）をクリアし、地域本部の認定を受けた企業のみ、中国での輸入・販売・サービス・物流・財務面での規制が緩和されます。特に、これまで中国国内では、中国で生産した商品しか販売活動が認められていませんでしたが、地域本部の認定取得により、海外から自社製品の輸入・販売をダイレクトに行うことが可能となります。

（※注）
１．	払込済み登録資本金が１億米ドル以上、もしくは払込済み登録資本金５,０００万米ドル以上 かつ申請前１年間の総資産が３０億人民元以上、総利益額が１億人民元以上。
２．	登録資本金のうち、最低３,０００万米ドルが中国国内の傘下企業に投資されていること。
３．	既に研究開発センターを設立（当初は2つ以上）

　地域本部の認定取得により許可される主な業務は下記の通り。
　(1) 輸入権及び中国国内販売権（小売は含まず）
　　　　　親会社の製品、親会社がマジョリティーの株式を保有する関連会社の製品
　(2) 親会社製品のアフターサービス、およびアフターサービスに要する補修部品の輸入
　(3) 地域本部の傘下企業に関する財務支援業務の提供
　(4) 物流配送業務
　(5) 中国国内企業に製品の生産・加工を委託し、その製品を国内外で販売する業務

日本経済新聞　2005/9/18

三井物産　中国で3社同時認可、輸出入や販売自由に

　三井物産は中国政府から輸出入や国内販売が自由にできる商社３社の設立認可を同時取得した。外資企業に対する規制緩和を進めている中国政府の新しい制度を利用、事業拡大につなげる。日本の総合商社の中ではすでに双日や伊藤忠商事が同様の認可を受けているが、三井物産は３社同時に設立が認められた。
　設立認可を受けたのは「三井物産(中国)貿易」(資本金３千万ドル)、「三井物産(広東)貿易」(同２４０万ドル)、「三井繊維物資貿易(中国)」」(同３６００万元、１元＝約１３．５円)の３社。いずれも「商業企業」として認可された。三井物産(広東)は広州市に、残り２社は北京市に本杜を置く。
　三井物産(広東)と三井繊維物資貿易(中国)は、香港企業に優先的に中国市場を開放する経済貿易緊密化協定(CEPA)を活用、三井物産の香港子会社が１００%出資する。三井物産(広東)は広州市で産業集積が進む自動車業界向け事業を中心に、三井繊維物資貿易は繊維、ファッション関連事業を展開する。
　認可を得たことで、３社はこれまで地方ごとに異なっていた輸出入や国内販売の手続きを中央政府が決めたルールで実施できるようになる。三井物産の中国事業規模は２００５年３月期で５３２億円、０６年３月期は８００億円程度を見込んでいる。新会社３社の設立を機に、事業拡大スピードを速める方針だ。

September 5, 2005 　Sarkaritel.com News and Features-Corporate News

GAIL Ventures Into Coal Gasification In China
http://www.sarkaritel.com/news_and_features/sep2005/05gailcoalgas.htm

GAIL (India) Limited is set to venture into the coal gasification activities in China. The company plans to invest in Coal - to Methanol - to Petrochemical plant in the Shaanxi province.

During his recent visit to China, Shri Proshanto Banerjee, Chairman and Managing Director, GAIL along with the GAIL team has agreed to enter into a Memorandum of Understanding with Shaanxi Huashan Chemical Industry group. As per the MoU, GAIL will conduct a feasibility study for setting up a coal - gasification based petrochemical plant for production of polyolefins and other products in Shaanxi province in China. The Shaanxi province has abundant quantity of coal, which can be availed at competitive prices. During the meeting with the GAIL team, His Excellency Mr. Pan Liansheng, Vice Governor, Shaanxi province has assured all possible help to GAIL for setting up the plant.

The two companies will subsequently consider setting up of a joint venture for implementation of the proposed project and to set up distribution and marketing network in China. Shaanxi Chemical is already operating a fertilizer plant based on old coal gasification technology and is willing to adopt the modern Shell coal gasification technology to upgrade their plant. It may be mentioned that the Shaanxi province is endowed with large deposits of coal as well as oil and gas reserves.

Sinopec, the major Oil and Gas Company of China, is working on the application of Shell technology for coal gasification for production of ammonia, which is eventually used for production of urea. During discussions, Mr. Chen Qi, Director General, Sinopec has agreed to share their experiences with GAIL regarding the construction, operation and commercialisation aspects of coal gasification based projects. Sinopec also agreed to develop a cooperation framework with GAIL for coal gasification projects, apart from gas transmission and distribution business after detailed discussions and identification of projects for implementation jointly.

In China, 12 plants based on Shell Gasification Process are under different phases of construction and will be operations during the year 2006 onwards. The synthesis gas produced from these plants will be used for manufacturing fertilizers, methanol and hydrogen. There are strong similarities between India and China as both have large coal deposits and would need growing quantities of fertilizer and chemicals / petrochemicals for the growing domestic markets.

GAIL is taking initiative to bring modern technology to unlock the potential value of coal acreage suitable for coal gasification in India. The technology helps in reducing manufacturing costs besides replacing existing, older and environment unfriendly facilities.

GAIL will be using domestic coal to produce synthesis gas or ‘syngas’ by using Shell Coal Gasification Process (SCGP), which will used for the first time in India. SCGP has an inherent capacity of handling high ash content and hence is suitable for Indian coals.

GAIL plans to set up a Rs. 750 crore coal gasification project in Eastern India with coal handling capacity of 2000 tonnes per day to produce 3.4 MMSCMD of syngas. The industries in the eastern India which run on liquid fuel for their feedstock / fuel will save huge costs when they use synthesis gas which can be made available at US$ 3 per mmbtu.

GAIL’s focus in eastern India is primarily due to the availability of abundant amount of coal in West Bengal, Bihar, Jharkhand and Orissa. The identified locations for setting up the project are Haldia, Durgapur and Talcher. West Bengal Government is also very keen to revive the fertilizer plants and Chief Minister of West Bengal has assured GAIL of full support for setting up plants based on coal gasification technology.

Shell has carried out an initial Screening Study for GAIL, based on data of Indian coal, which has high ash content, and the outcome is encouraging. A Detailed Feasibility Report (DFR) by Uhde India Ltd. in collaboration with their parent company M/s Uhde Gmbh, Germany is expected to be ready by October 2005. The DFR will look into various possible end uses of the synthesis gas, availability, proximity of source and quality of coal and will facilitate a commercial decision for investment in coal gasification project.

GAIL is also in talks with Coal India Limited for jointly evaluating various Overground Coal Gasification Technologies/clean coal technologies available in the industry and for examining the suitability of these technologies for Indian coal. GAIL and CIL will evaluate the possibility of utilizing the product of Overground Coal Gasification for use in various industries as fertilizer, chemicals including but not limited to the production of petrochemicals.

日本経済新聞　2005/10/7

中国国有石油２社　エクアドル油田も買収　調達安定化を狙う

　中国の国有石油大手２社、中国石油天然気集団(CNPC)と中国石油化工集団(シノペック)は共同でカナダの石油会社エンカナが保有する南米エクアドルの油田権益を買収することを決めた。買収額は１４億２千万ドル(約１５７０億円)。中国の石油大手にとってカザフスタンでの油田権益に続く海外での大型買収。エネルギー資源の安定確保へ向けた調達先の多様化が加速してきた。
　CNPCとシノペツクの共同出資会社で海外の油田開発事業を手掛けるアンデス石油がエンカナの保有するエクアドルの油田権益を買収する。中国側とエンカナがこのほど合意した。年内に買収を完了する計画だ。
　買収の対象になるのは原油埋蔵量が約１億４千万バレルで日量７万５千バレルを生産する油田やパイプラインなど。エンカナによるとエクアドル資産の売却は中核分野へ事業を集中させる戦略の一貫。
　エクアドルは外資石油会社の進出に反対する住民によるデモが起こるなど外資による石油事業の環境が厳しくなっている。中国はエクアドルから原油を輸入しており、２００３年８月にはエクアドル大統領が中国を訪問して胡錦濤国家主席らと会談。エネルギー分野などで関係を強化する方針で合意した。治安面などでリスクはあるが油田の権益買収を通じて同国での足場を一段と固める。
　エクアドルの油田権益を巡ってはインド石油天然ガス公社(ONGC)も買収に名乗りを上げていたもようだが中国が条件面などで競り勝った。中国の０５年の原油需要は０４年比６%増の３億１千万バレルになる見通しで、輸入依存度は４割を超える。国内の原油生産は頭打ちで需要増に伴い輸入が増えるのは確実だ。原油輸入の半分を中東に依存する中国は、安定調達のためには調達先を多様化することが必要と考えている。だが８月には中国海洋石油(CNOOC)による米ユノカルの買収が米議会の反発などで失敗。米国での権益取得は困難な情勢だ。
　このため中南米やアフリカ、中央アジア、カナダとの関係強化を急いでいる。胡錦濤主席は９月８日からカナダ、メキシコを訪問して資源開発の協力などで合意した。昨年１１月にはブラジル、アルゼンチンなど中南米４カ国を歴訪し資源開発をはじめとする大型投資の計画を表明した。今回のエクアドル油田の権益買収はこうした資源外交の一つの成果ともいえる。
　中国の国有石油会社による海外油田権益の買収が加速しており、最近の事例としては８月下旬にＣＮＰＣがカザフスタンに油田権益を持つカナダのペトロカザフスタンを４１億８千万ドルで買収することを決めている。

中国の石油会社による海外権益取得の動き

Platts 2005/10/11

China's Donghao commissions SM plant, commercial sales from H2 Oct

China's Donghao Chemical 東昊 is in the process of commissioning its styrene monomer plant in Changzhou(常州), and hopes to start commercial sales in late October, a source close to the firm said Tuesday. Donghao fed the 150,000 mt/yr plant with benzene over the weekend, followed by ethylene on Tuesday. The plant was expected to start producing on-spec styrene by Oct 15.
Donghao's plant is not backward-integrated, so the firm has to buy all its benzene and ethylene feedstocks. It plans to source all its feed from the spot market.
When fully on line, the plant has the potential to tip the supply balance, sources said. Last year, China's local styrene prices were depressed for several months after Shanghai Secco Petrochemicals started up its 500,000 mt/yr plant. But unlike Secco, which uses more than half its own styrene output captively to produce polystyrene, Donghao plans to sell all its styrene in the merchant market. China's domestic market was pegged at Yuan 10,800-10,900/mt ex-tank Jiangyin on Tuesday.

2005/10/13　日本経済新聞夕刊

サハリン３の一部権益取得　シノペック

中国の国有石油大手、中国石油化工（シノペック）はロシア国営石油会社のロスネフチから「サハリン３」鉱区の一部区画に関して２５．１％の権益を取得した。中国企業がロシア国内のエネルギー案件に参加するのは初めて。当面は探鉱が対象となるが、開発まで含めれば総投資額は数十億ドルから百億ドル近くにのぼる公算がある。

July 04, 2005 Kommersant

Rosneft Opens Sakhalin to the Chinese
　　Sinopec to take part is development of Venin block
　　International Cooperation
　http://www.kommersant.com/page.asp?idr=1&id=588631

Rosneft signed an agreement with the Chinese Sinopec petrochemical company on Friday on the joint development of the Venin block oil and gas field in the Sakhalin 3 project. Gazprom had also declared its interest in working with Rosneft but had made no concrete proposals. A partnership with Sinopec is likely to mean that Rosneft will keep a share in the Venin block under any circumstances.
On Friday, in the course of Russian-Chinese negotiations, Roneft signed a framework agreement on collaboration with CNPC, the Chinese national oil and gas company, and a protocol on the foundation of a joint venture for geological exploration and study of the Venin block field of the Sakhalin 3 project with the Chinese oil and gas company Sinopec.

The oil resources in the Venin block are preliminarily estimated at 114 million metric tons ad gas at 315 billion cubic meters. Rosneft received a license for geological study of the block in April 2003. It is assumed that the operator of the project will be a specially founded OOO Veninneft. There are three other blocks besides Venin in the Sakhalin 3 shelf project. They are the Eastern Odopinsky, Ayashsky and Southern Kirinsky, licenses for which are held in an indivisible fund.

The agreement between Rosneft and Sinopec means that the Chinese company will receive a share in OOO Veninneft. Its size has nor yet been revealed. Kommersant has information that Sinopec will receive a 40-50 percent share in the project operator. Rosneft president Sergey Bogdanchikov announced on Friday that Sinopec will finance all geological exploration work ad no less than half the funds necessary for the development of the block. It is thus committing itself to more than half of all the financing of the project.

On June 24, Alexey Miller, chairman of the board of the Gazprom monopoly, stated that that company was preparing to make an offer for the purchase of a share in all the Sakhalin projects from Rosneft. Besides the Venin block, Rosneft owns 20 percent of the Sakhalin 1 project (operated by the American ExxonMobil, which owns 30 percent. The Japanese SODECO also owns 30 percent of it and the Indian ONGC owns 20 percent). Rosneft owns 51 percent of Sakhalin 4, the project is developing the Western Shmidtovsky lot, along with British Petroleum. Rosneft and BP are sharing in the same proportions the Sakhalin 5 project at the Eastern Shmidtovsky and Kaigansko-Vasyukansky lots. On Friday, a Gazprom representative told Kommersant that no concrete offers had been made to Rosneft. The fact that the oil company found an investor for the development means that it will most likely retain a share in the project in any case.

At the end of this year or beginning of 2006, the Ministry of Natural resources plans to auction off the three remaining blocks in Sakhalin 3. Gazprom plans to take part in those auctions with LUKOIL. Representatives of the companies have not said to what extent the infrastructure of the Sakhalin 3 blocks will be interconnected, but some cooperation between the participants in the project will obviously be necessary.

日本経済新聞　2005/10/25

丸紅、山東省と包括提携　まず日本に紙の販社設立

　丸紅は中国・山東省と経済・貿易分野で包括提携することで合意した。同省で機械や電機、化学品などの製造拠点を建設する事業に丸紅が積極参加、同省内の企業が日本などで事業展開する際にも協力する。第一弾として１１月に山東省の製紙メーカー、山東晨鳴(チェンミン)紙業グループと共同で日本で紙・板紙の販売会社、CMJ(東京・干代田)を設立する。２５日に包括的協力協議書を締結する。山東省は経済発展が急速に進んでおり、丸紅は現地政府と手を組むことで早期に事業を拡大する。
　新会社の資本金は３千万円で丸紅と晨鳴が折半出資する。社長は晨鳴が派遣し、従業員５人程度でスタートする。晨鳴は年間２１０万トンの生産能力を持つ中国の製紙最大手。これまでも丸紅などを通じて日本へ輸出してきたが、一段の売り上げ拡大には品質や納期などの要求水準が高い日本に拠点を築く必要があると判断した。
　丸紅は紙の調達先を拡大し、日本市場だけでなく中国に設立した紙の販売会社を通じ、中国国内の日系企業向けに晨鳴の製品を拡販する考えだ。
　山東省は２００４年の域内総生産(GDP)が江蘇省を抜いて広東省に次ぐ全国二位になるなど、経済が急速に拡大している。資源が豊富で、人件費が上海地区などに比べて安いことや人口９千万人を超える有望市場であることから、外国企業の投資が増えている。日本の商社では伊藤忠商事が２００２年に山東省と「経済貿易全面合作協議書」を締結している。

山東晨鳴紙業集団股フェン有限公司 Shandong Chenming Paper Holdings Limited

主要業務は機械製紙、板紙及び紙原料の生産で、1995年から2001年にかけて連続7年、全国業界トップに立つ中国最大規模の製紙メーカー。新聞紙やダンボールが主力製品。電力を中心としたエネルギーも手掛ける。原材料を輸入に頼っており、有効的なコストコントロールが課題。

Platts 2005/10/24

PetroChina's Lanzhou revises upward planned No 2 cracker capacity

China's Lanzhou Petrochemical has revised upward the planned capacity of its No 2 ethylene plant, currently under construction, to 450,000 mt/yr from the original plan of 360,000 mt/yr, a source at the company said Monday. The revision would allow Lanzhou, a subsidiary of PetroChina, to reap greater economies of scale from a bigger cracker.
Construction of the Yuan 6-bil ($742-mil) naphtha cracker is scheduled to be completed by the end of 2006, the source said. The project would lift Lanzhou's total ethylene capacity to 690,000 mt/yr. Lanzhou currently has a naphtha cracker with an ethylene capacity of 240,000 mt/yr.
PetroChina aims to market Lanzhou's output to consumers in Chongqing, Sichuan Province, in southwestern China. Lanzhou is located in the northwestern province of Gansu.
Lanzhou's dowmstream capacities include the following units, according to Japanese government estimates: 195,000 mt/yr combined LDPE and LLDPE; 65,000 mt/yr styrene monomer; and 124,000 mt/yr PP (supported by C3 from steam and catalytic crackers).

China Chemical Reporter 2005/10/24

Yunan Launches DME Project 　　雲南省

The dimethyl ether (DME) project will be launched in Yunnan province, southern China recently. With the total investment of RMB970 million and the production capacity of 150 000 tons/a, this project is implemented by Yunan Jiehua Group Chem Co., Ltd and will be completed in the end of 2007. When the project put into stream, it is estimated that 1.1 million poor coal will be consumed per year, and the additional value of poor coal will be quintupled with annual sales revenue of RMB447 million.

With local lignite as raw material, this project adopts gasification technology to provide intermediate material gas and produces DME and methanol products finally.

Nowadays, the key development goal of DME is being the substitute for civil clean fuel and diesel oil. DME with the characteristics similar to liquefied petroleum gas does no harm to human body and ozonosphere after burning so that can be used as civil clean fuel. Because fuel coals can cause pollution to the environment, and the huge investment will be put into for the pipeline of fuel natural gas and coal gas furnace gas, furthermore the limited domestic supply for liquefied petroleum gas, so DME is no doubt the best choice. As professionals estimate, the domestic demand for DME will be 5 million to 10 million tons in the next five years.

日本経済新聞　2005/11/1

中国石油　３子会社 上場廃止　全株、８９０億円で買取り

　中国の石油大手、中国石油天然気(ペトロチャイナ)は３１日、中国本土や香港などに上場する子会社３社の上場を廃止する計画を発表した。子会社の株式をすべて買い上げ、グループの経営資源の効率利用などを目指す。中国で親会社の株式買い取りによる上場廃止は初めてとみられる。
　深セン証券取引所に上場している錦州石化と遼河金馬油田の２社、深センと香港、ニューヨークに預託証券を公開している吉林化学工業の株式を公開買い付けする。提示した買収総額は約６２億６千万元(約８９４億円)。中国石油は現在、各社の６７−８２%の株式を保有している。
　子会社３社の業務領域は油田経営や原油の精製、石油化学製品の生産などにまたがり重複部分が多い。中国石油は完全子会社化することで、業務や資源配置の見直しを進める。
　子会社上場廃止の背景には、中国政府が推し進める証券市場改革に伴う一部株主とのトラブルを未然に回避する狙いもありそうだ。吉林化工のように複数市場に上場する企業については、市場で取引されない「非流通株」の解消過程で、株主間に不平等が生じるケースがあり、問題化している。

Platts 2005/11/14　　　　　　　　　　　　　　　　　　　　PetroChina case

Sinopec to privatize Zhenhai Refining & Chemical Co

Chinese oil company Sinopec Corp plans to privatize Sinopec Zhenhai Refining & Chemical Company Limited 鎮海煉油化工in a deal worth HK$7.672-bil ($989-mil), the company said Monday. The "merger by absorption" is to be effected by a wholly-owned subsidiary of Sinopec, Ningbo Yonglian.
Sinopec already owns 1.800-bil or 71.32% of ZRCC's 2.524-bil shares. Ningbo Yonglian is to be set up to to pay a cancellation price of HK$10.60/share in cash to the holders of ZRCC's 724-mil publicly-traded H shares. The completion of the merger is subject to regulatory and ZRCC shareholder approvals.
"This transaction would contribute to the continued development of Sinopec Corp," the company, which is listed in both New York and Hong Kong, said in a statement. "It also demonstrates efforts of Sinopec Corp management to deliver their promises at IPO which include restructuring its assets in order to strengthen competence of its core business. From a long-term perspective, the transaction will have a positive impact on Sinopec Corp's profitability as well as shareholder value."
Sinopec said the proposed merger would reinforce the business value chain of ZRCC through the vertical integration of ZRCC's refining assets with Sinopec's upstream refining operations, as well as offering synergy effects in capital allocation, investment, branding, resources, marketing, and distribution channels. It would also eliminate related party transactions and intra-group competition, and would allow for the consolidation and simplification of management structure. "Moreover Sinopec Corp believes that the merger should have a positive impact on Sinopec Corp's profitability as well as shareholder value," the company added.
The cancellation price was "reasonable" for both Sinopec and ZRCC's shareholders, the Chinese major said. The price represents a premium of 12.17% over ZRCC's closing price of HK$9.45/share on Nov 2, 2005, and is also 22.93% and 29.91% higher than the company's average closing price of HK$8.62/share over the last month and HK$8.16/share over the last 12 months respectively.
ZRCC is a Sinopec holding subsidiary which listed on the Hong Kong Stock Exchange in December 1994 and is one of China's largest processing bases for crude, imported crude and sour crude and the largest export base for oil products. The company has a crude oil processing capacity of 18.5-mil mt/yr.
Downstream Zhenhai also has a 650,000 mt/yr paraxylene plant and a 200,000 mt/yr of polypropylene unit. Zhenhai currently has plans to build a naphtha cracker with an ethylene capacity of 800,000 mt/yr by 2010, according to industry sources.
Based on 2004 financial data, ZRCC's net profit was RMB 2.61-bil ($323-mil) or RMB 1.04/share on turnover of RMB 41.9-bil. At the end of 2004, the company's total and net assets were RMB 15.49-bil and RMB 11.41-bil respectively.

2005/10/31 Qenos

Sale of Qenos to ChemChina
http://www.qenos.com/internet/home.nsf/vwwebpages/aboutqenos-articles-news&informationsaleofqenostochemchina?opendocument

Qenos is pleased to announce that international chemical group China National Chemical Corporation (ChemChina) has signed a Heads of Agreement with the company’s shareholders, Orica and ExxonMobil, to purchase the Qenos business. The agreement is subject to required regulatory approvals in Australia and China, with settlement targeted to take place in early 2006.

Commenting on the pending sale, Mr Ross McCann, Chief Executive Officer of Qenos, said:

“ChemChina is a global chemical industry player and Qenos is a strategic acquisition that complements ChemChina’s global growth strategy and portfolio of chemical businesses. The acquisition provides a strong Australian platform for further business growth.”

“Qenos is an attractive acquisition for ChemChina given its highly skilled workforce, technical expertise, strong customer base, logistics infrastructure and operational systems.”

Mr McCann added:
“The Qenos strategy remains the supply of polyethylene and services to meet the needs of the Australian polyethylene market and Qenos will continue to be run by local management. Qenos offers ChemChina an experienced management team and world-class systems in the areas of operational and safety, health and environmental standards.”

ChemChina is a large government owned enterprise in China with a portfolio of chemical businesses. With sales of approximately A$9.6billion and employing over 100,000 people, ChemChina is one of the largest chemical companies in China.

Qenos was formed in 1999 when Orica and ExxonMobil joined their petrochemical operations in Australia to form a stronger, more globally competitive business. Qenos is Australia’s sole polyethylene manufacturer focused on supplying the local market and has approximately 850 direct employees and A$800M annual revenue. With manufacturing sites in Victoria and New South Wales, Qenos adds value to Australian oil and gas reserves, through conversion into high value petrochemicals and plastics that are used as raw materials by hundreds of companies in the downstream Australian plastics conversion industry. The final products are used in a myriad of applications, including the key packaging, agriculture, automotive, water management, mining and waste management industries.

ChemChinaは昨年5月に国営のChina National Blue Star (Group) （藍星グループ）と China Haohua Chemical Industrial (Group) (昊華化工）が統合したもの。

９９年１０月　ケノス社（Qenos）設立（エクソンモービル５３％、オリカ４７％）
　オリカ社（Orica　旧ＩＣＩオーストラリア）と
　エクソンモービル　旧ケムコア社（Kemcor　エクソンケミカルとモービルケミカルの折半出資）が、
　両社の石油化学事業統合

At Qenos we use Australian oil and gas feedstocks from Bass Strait and the Moomba Basin. We employ 900 people. Our plants in Sydney and Melbourne produce olefins and a full range of polyethylene products (HDPE, LDPE and LLDPE). We also supply a diverse range of specialty polymers. That makes Qenos a vital link in the Australian manufacturing chain, supplying industries that employ hundreds of thousands of people.

Platts 2005/11/25

Shanghai Gaoqiao becomes China's biggest PET maker

China's Sinopec Shanghai Gaoqiao started up a new 80,000 mt/yr polyester plant on Nov 20, according to a company announcement posted Friday (Nov 25).
The plant consists of three lines. With the startup of the new unit, SSGPC's total polyester capacity has reached 200,000mt/yr, making the company China's largest polyester producer, overtaking the 185,000 mt/yr CNOOC and Shell Petrochemical capacity to be brought on stream in December, the statement said.
The operation rate of SSGPC is likely to lag behind its capacity expansion, since the supply polyesters feedstock has been tight for the last two years and feedstock prices have climbed steeply recently, said an SSGPC official. No substantial increase in actual polyester production will occur unless a significant amount of feedstock supply is guaranteed, he added.

日本経済新聞　2005/11/26

中国、工場爆発相次ぐ　重慶でも河川汚染　増産急ぎ安全対策後手に

　中国重慶市で２４日、医薬・化学工場が爆発し、長江の支流へ有害物質のベンゼンが流出したことが２５日明らかになった。１３日には吉林省の化学工場の爆発で同じくベンゼンが松花江に流出し、下流のロシアに汚染が広がる懸念が高まっている。安全より増産を優先する中国企業の経営体質と不十分な情報公開が事故頻発の背景にある。国境を越えかねない環境汚染に周辺国は神経をとがらせている。
　重慶市では桂渓河沿いにある民営企業、英特化工の工場が爆発した。１人が死亡し６千人が避難した。行政側は住民に桂渓河の水を使わないよう呼びかけ、川に大量のスポンジやワラを投入してベンゼンの除去を急いでいる。長江を給水源とする下流の上海市や湖北省武漢市など大都市の水道供給に影響を及ぼす事態は避けたい考えだ。
　一方、松花江を給水源とする黒竜江省ハルビン市は２２日から水道水の供給を停止。各地から調達した飲料水を搬送車で住民へ供給し、新たな水源確保のため井戸掘りにも着手した。中国政府は２５日、汚染調査の作業班を現地に送った。
　事故が相次ぐ背景には需要拡大に対応するため増産を急ぎ、安全管理が後手に回ったことがある。重慶の工場は安全経営許可証を得ずに操業していた。発電所向けの需要拡大で増産を続ける炭坑でも爆発事故が多発している。
　再発防止に不可欠な情報公開と原因や責任の追及が不十分との指摘も多い。吉林省の工場爆発は１３日。当局は爆発直後に松花江の汚染を把握していたもようだが、ハルビン市民への通知は約１０日後。飲料水を求める市民が一時パニック状態になった。

非常事態亘言ロシア発動も　松花江汚染広がり警戒

　中国東北部の化学工場の爆発による松花江の汚染を受け、ロシア当局は下流のアムール川も汚染されるとの見方を示した。
有害物質は凍った川を下り、１２月１日までにハバロフスク市近郊に到達する可能性がある。アムール川はハバロフスク州を中心に約１５０万人が水源としている。ハバロフスク市の住民によると、買いだめの影響で飲料水が２４日までに商店からなくなった。
　ハバロフスク州の緊急事態局は２５日、汚染がロシア国境に広がった時点で非常事態を宣言する考えを示した。取水停止になると温水暖房にも影響するため、市民には不安が広がっている。ロシア政府は現地に対策本部を置き、汚染状況を監視中。汚染が同国に及んだ場合、中国に補償を求める声も出ている。

Platts 2005/11/30

China's Shenyang Chemical to build cracker for 120kt/yr ethylene 　　瀋陽化工

China's Shenyang Chemical Group held on Nov 28 a ground-breaking ceremony for construction by 2007 of a 500,000 mt/yr catalytic thermal cracker in China's northeast province of Liaoning 遼寧省, the company said Wednesday. This unit is the first to use exclusively domestic Chinese technology for ethylene production, using a Catalytic Pyrolysis Process (CPP). The Yuan 3.6-bil ($445-mil) investment will use 500,000 mt/yr of residual oil for the production of about 120,000 mt/yr of ethylene, according to an official from BlueStar, the parent company of Shenyang Chemical Group. The ethylene was destined to be used as feedstock for the production of polyvinyl chloride.
Shenyang Chemical is the largest producer of PVC paste resin in China by market share.
The project was approved by China's National Development and Reform Commission in August 2004, when Shenyang brought on stream a 40,000 mt/yr epoxy propane and polyethers complex.

新華社　2005/12/3

China begins methane resources exploitation

A 100-million-cubic-meter coalbed methane 炭層メタンexploitation project has been completed in north China's Shanxi Province, marking the country has finally began to make use of the gas on an unprecedented scale.
Located in the southern part of the Qinshui Basin, Jincheng 晋城　City of Shanxi Province, the gas exploitation project is the largest of its kind in China, with a verified gas deposit of 40.2 billion cubic meters and an annual production of 100 million cubicmeters.

At a price of 1.1 yuan (0.136 US dollars) per cubic meter, the project's yearly output is expected to be worth 110 million yuan (13.6 million US dollars), said Sun Maoyuan, general manager of China United Coalbed Methane Corp. Ltd, the investor of the project.
The company has pumped 360 million yuan (44.4 million US dollars) into the project.
The first phase is capable of churnning out 80,000 cubic meters natural gas daily, which will be supplied to gas companies and power grids, said Sun.

Shanxi Province boasts an abundance of coal resources. It is also China's largest reserve base of coalbed methane. The estimated methane deposit is about one trillion cubic meters, or one third of the country's total.
Experts said the methane could be burned for 6,682 years by one million households, or be turned into 22 trillion kwh's electricity.
"Coalbed methane is a valuable asset of Shanxi, which should not be lying there underground uselessly," said Yu Youjun, the acting governor of the province.

However, the methane, or more commonly known as natural gas, could also be extremely hazardous.
In 2004, China's coal mines produced 14 billion cubic meters of gas, a number experts say that it will increase to 17 billion cubic meters in 2020.
Notably, 80 percent of the casualties in coal mine accidents could be attributed to their deaths to gas explosions, which cause direct loss of 750 million yuan (92.6 million US dollars) a year.
"The proper use of the gas is meaningful in the sense of environmental protection, work safety control, and profit generation," said Yu.
In recent years, the province has been vigorously bringing in foreign capital to tap the gas resources. It has kicked off an exploitation program with two billion yuan (247 million US dollars) in foreign loans.

The Asia Development Bank has vowed to provide over 1 billion US dollars in loans under favorable conditions to assist the province's endeavor in the next 10 years.
Another massive methane exploitation project with an installedcapacity of 720 million cubic meters is also under construction inShouyang County. By 2008, the gas will be sent to Beijing, Shanghai and other major cities through the west-east gas transmission routes, said sources with the provincial government.
China is the third largest coalbed methane reserve country in the world, only next to Russia and Canada. The latest evaluation shows that China has 31.46 trillion cubic meters coalbed methane lying above a 2,000-meter depth, 60 percent of which is suitable for exploitation.
China's methane resources are distributed in 24 provinces, with Shanxi Province and Xinjiang Uygur Autonomous Region accounting for more than half of the country's total reserve.

日本経済新聞　2005/12/7 　　　　　　　　　　　　　　　　　　　　クウェート発表　　PetroChina の誤り？

クウェート、中国に製油所　ＢＰ、シェル、シノペックと合弁で
　50億ドル投資 広東省に

　中国国有石油大手の中国石油化工(シノペック)とクウェート国営石油(KPC)、英BP、英蘭ロイヤル・ダッチ・シェルの４四社は合弁で、中国広東省に製油所を建設することで合意した。投資額は５０億ドル(約６千億円)。原油資源が豊富な中東産油国と石油メジャーが協力して成長市場の開拓を目指す動きが広がる一方で、中国側は原油の安定調達の強化を迫られており、双方の思惑が一致した。
　合弁製油所で原油からガソリンなどの石油製品を精製する能力は１日あたり２０万−４０万バレル。完成は２００８年前後になる見通し。４社の出資比率は来年初めまでに決めるとしており、シノペックが５０%以上を確保して、外資３社が残りを分け合う形になる可能性が高い。製油所で原料として使う原油は主にクウェートから輸入する。製油所には石油製品のナフサを原料にエチレンなどを生産する石油化学プラントも併設する計画。
　中国の２００５年の原油需要は前年度比６%増の３億１千万トンの見込み。国内需要に占める輸入比率は４割を超えている。今後も国内の需要増加が確実視されることから調達先の拡大を迫られている。輸入の中東依存度は約５割で、最近はアフリカや中南米での油田権益獲得を加速させているが、中東ともさらに太いパイプを築き、原油の調達ルートを多様化する。
　中国ではガソリンなど石油製品価格が国際価格より３割前後低く抑えられており、原料の原油価格上昇でシノペツクの１−９月の製油所部門は赤字。製油事業に外資を加えることで赤字リスクを分散する狙いもある。KPCは今年３月、北京に事務所を開設して中国への原油の売り込みを強化している。中国の英字紙チャイナ・デーリーによると中国向け輸出を現在の２倍以上の日量４０万バレルへ拡大する計画を持つ。欧米メジャーは中国で給油所の展開を加速させており、自社が出資する合弁製油所から直接、自社系列の給油所ヘガソリンや軽油を供給することを目指している。
　シノペツクはサウジアラビア国営石油会社(サウジアラムコ)、米エクソンモービルとも福建省で製油所を建設中だ。中国政府は原油資源を提供することを条件に、外資へ製油所事業への出資を許可しているもよう。中東諸国や欧米メジャーによる中国の製油所事業への投資が今後も増える可能性が高い。一方、原油資源が乏しい日本の石油会社の製油所事業参入は難しいとみられている。

Platts 2005/12/7　　

PetroChina confirms Guangdong petchem partnership with Kuwait

Hong Kong- and New York-listed Chinese oil giant PetroChina Wednesday confirmed its intention to team up with Kuwait in developing a petrochemical plant and refinery in China's southern Guangdong province.
"We've signed a MoU (memorandum of understanding) with them (Kuwait) studying the feasibility of developing the project" in Guangdong, a PetroChina press official said Wednesday. He added that it was still too early to give details of the proposed plan as the two parties would only decide on the scale and the investment of the project after they finish with the feasibility study.
Kuwait and China signed the MoU on the proposed developed on Dec 5, according to the official Kuwaiti News Agency. KUNA also cited Kuwaiti Energy Minister Sheikh Ahmed Fahed al-Sabah as saying that although technical specifications of the project had not yet been worked out, the envisaged refinery would probably be expected to have a processing capacity of between 200,000-400,000 b/d. He gave no details about the petrochemical plant.
Examining the project's financial and technical aspects would be the next step after the MoU, he added.
The proposed Guangdong refinery and petrochemical plant development is in line with Kuwait's long-term strategy of entering more oil markets which are able to utilize Kuwaiti crude, most of which is sour. It would also fall in line with the emirate's target to raise production capacity from a current 2.7-mil b/d to between 3.5- to 4-mil b/d in the coming decade, the minister said. He also said that China's current level of Kuwaiti crude imports was lower than desired, but that he expected they would increase after the opening of a representative office in China for national oil company Kuwait Petroleum Corp.
According to Chinese and Kuwaiti media reports, the two parties would likely complete their feasibility study and necessary approvals from
government authorities in 2006. Construction of the estimated $5-bil project would take about four years, which points to a 2010 completion date if works progress smoothly. Other partners in the proposed project are Kuwait's Petrochemical Industries Co and Kuwait Petroleum International. Both China and Kuwait have agreed to invite leading international companies in both refining and petrochemical sectors to take part in the project, the reports said.
PetroChina has long had ambition to penetrate the south China oil product market with the establishment of its own refining facilities there. It has shown its interest earlier in establishing a 10-mil mt/yr (200,000 b/d) refinery in Qinzhou city, China's southern Guangxi Zhuang Autonomous Region.
Until now, refineries owned and operated by PetroChina are in northern and northwestern China. After meeting the oil requirements in the northern and northwestern markets, PetroChina sells and distribute a large part of its oil products output for the south China market under term contracts through its counterpart Sinopec Corp, which dominated the refining and petrochemical sector in the country's southern, eastern and southwestern provinces. It also sells and markets a small portion of its output through its regional offices in the Sinopec-dominated markets. A refining base in southern China would therefore not only expand PetroChina's presence in the market, but also reduce transportation cost to moving its products output from northern provinces to the south.

日本経済新聞　2005/12/29　　　　　　　　　　　　　発表

東洋エンジ　石油代替燃料　中国で技術支援　最大プラント設計

　東洋エンジニアリングは中国国営の大手石炭会社に、石油代替燃料として有望なジメチルエーテル(DME)分野で技術支援する。同国西北部に建設が計画されている年産２１万トンのDMEプラント設計などを担当する。量産設備としては世界最大で、２００７年末に完成の予定。環境規制が厳しくなる中、中東やロシアなどの資源国で受注につなげる狙いだ。
　石炭大手の寧夏煤業集団(寧夏回族自治区)が総額４００億円を投じて整備する化学コンビナート計画の一環。DMEは硫黄酸化物(SOx)など有害物質を発生しないため、石油代替燃料として有望視されている。中国ではエネルギー需要の拡大と同時に排ガス規制も強まっている。
　東洋エンジは埋蔵量が豊富な石炭をガス化してできるメタノールからDMEを作り出す技術を供与。製造工程で必要な触媒なども提供する。
　東洋エンジはDMEの実用化で先行している中国で、量産プラント建設にかかわっている。中国大手肥料会社の瀘天化集団(四川省瀘州市)から年産１１万トンの燃料用DME量産プラントを受注し、来年３月にも稼働する見込み。
　日本ではJFEエンジニアリングがダイハツディーゼルなどと組んでDME利用のディーゼルエンジンを開発するなど、新燃料の利用拡大を模索している。
　同じく石油代替燃料のガス・ツー・リキッド(GTL)とともに、今後の需要拡大が見込まれる。

2006/1/4 東洋エンジニアリング

中国向けに大型ＤＭＥプラントを受注
http://www.toyo-eng.co.jp/jp/news/17/180104.html

　東洋エンジニアリング株式会社（ＴＥＣ、取締役社長 山田 豊）は、中国国営石炭会社である寧夏煤業集団有限公司が中国西北部に位置する寧夏回族自治区に新設する、石炭原料で世界最大の年産21 万トンの燃料用DME 製造設備のライセンス供与と基本設計並びに触媒提供の業務をこのたび受注いたしました。
　このプロジェクトは、埋蔵される豊富な石炭を原料に石炭ベースの化学コンビナートを建設する一環であり、生産されるＤＭＥは液化プロパンガスの代替品などとして地元で消費される予定です。中国では急激な経済成長によるエネルギー需要の増大に対応するために、ＤＭＥなどの代替エネルギーの活用を積極的に進めております。世界初の商業規模の燃料用ＤＭＥを中国で建設した当社は、この受注を契機に積極的にビジネス展開を図ってまいります。

＜受注概要＞
■ 客 先：寧夏煤業集団有限公司 (Ningxia Coal Group Co., Ltd.) （注）
■ ＜本社：寧夏回族自治区・銀川市＞
■ 受注者：ＴＥＣ
■ 建設地：寧夏回族自治区東部 ＜添付＞
■ 対象設備：年産２１万トンのＤＭＥ製造設備
　　　　　　　　　＜ＤＭＥはジメチルエーテルの略。原料は石炭をガス化して製造するメタノール＞
■ ライセンサー：ＴＥＣ
■ 役務内容：ライセンス供与、基本設計、触媒供与及び技術サービスの供与
■ プラントの完成：２００７年末を予定
■ 受注の意義：

＊	世界で初めて年産1万トンの燃料用ＤＭＥ製造を完工し、引き続き年産11 万トンの設備を四川省瀘（ろ）州市で建設中の当社にとって、今回で３基目のＤＭＥ受注となります。
＊	中国では豊富な石炭をベースとした化学コンビナートの建設が多数計画されており、石炭からクリーンなエネルギーであるＤＭＥを製造することは、石油への依存解消や公害防止の面からも、現代中国社会のニーズに適合したものとして注目されています。

（注）客先の寧夏煤業集団有限公司は、2002年に４鉱山が統合されて設立された国営石炭会社。14箇所の炭鉱を操業し、従業員５万７千人、年間売上は約３５億人民元。客先が保有する埋蔵量約300億トンの高品質石炭を原料に、石炭のガス化による化学コンビナートを建設し、メタノール，ＤＭＥやメタノール経由のプロピレンの製造などを計画中。

2006/1/12 Platts

Methanol plants in north China close due to feedstock shortage

Methanol production at Weishi Chemical in north China's Henan Province has been stopped for several months due to a coal shortage, according to a source from the company.
"We cannot find coal supply at present as many coal mines have been shut down for safety concerns. We are unable to resume production until we can get enough coal supply," the source said.
Weishi Chemical is one of the major coal based methanol producers in north China with a capacity of 180,000 mt/yr.

Puyang Methanol, another methanol producer in the same province, has also stopped production due to a suspension of natural gas supply since Jan 1, and is expected to be back in operation on Jan 15, according to a source from the company. The company's natural gas supplier, Chinese integrated oil major Sinopec Zhongyuan Oilfield, explained that the supply cut was due to frozen pipelines.
Puyang Methanol Co has a methanol capacity of 120,000 mt/yr, of which about 90,000 mt/yr is natural gas based and the remaining 30,000 mt/yr is coal based. The coal based unit also stopped operation due to the coal shortage.
The company has a coal based methanol capacity expansion of 200,000 mt/yr scheduled to be completed by 2008, the source added.

Platts 2006/1/20

China's Tianji to build a 600 kt/yr methanol plant by end of 2007

Tianji Coal Chemical Industry Co of Changzhi City in North China's Shanxi Province is set to build a 600,000 mt/yr methanol plant by the end of 2007, an official from the company said Friday. The National Development and Reform Commission has approved the project and preparation has been completed.
The company produces methanol via gas from associated coal cokers of its own, and all its methanol products are to be sold on the domestic markets.
The company is also evaluating the feasibility of building a dimethyl ether plant, depending on the market situations of both methanol and DME.

Platts 2006/1/25

China's XinAo Group to build 2.4-mil mt/yr methanol plant by 2010 　　新奥集団　 内蒙古鄂尓多斯

China's XinAo Group is scheduled to build a 2.4-mil mt/yr methanol plant by 2010, said an official from its industrial base in Ordos Inner Mongolia in North China Wednesday.
The project is to be built in two stages. In the first stage, a 600,000 mt/yr methanol plant and an associated 400,000 mt/yr dimethyl ether plant would be built by the end of 2007. In stage two, a 1.8-mil mt/yr methanol plant would be finished by 2010.
The construction is scheduled to start on March 27, 2006, said the official. And the construction of stage two of the project is scheduled to start once stage one is completed at the end of 2007.
The methanol production is to be coal based, with all necessary coal to be provided by the company, as it has already acquired coal mining permits.
Its methanol and DME products are to be sold through its distribution network across China, with its DME products also to be used as fuel.
The company plans to study market situations to decide whether to build an associated DME plant for the second stage methanol unit.
XinAo Group is a Hong Kong Exchange listed independent company, specializing in urban gas distribution and gas vehicle and storage facilities manufacturing, among other areas.

XinAo Group 新奥集団
http://www.xinaogroup.com/en/about/about.jsp

Founded in 1989 with its headquarter located at Langfang Economic & Technological Development Zone in Hebei province河北省廊坊, XinAo Group is a comprehensive business conglomerate engaged in the field of clean energy development and exploitation, with major industries covering urban gas, energy equipment, bio-chemical business, energy chemical business and real estate development etc. By the end of 2004, the Group employs over 10,000 staff with a total assets nearly RMB 10 billion, more than 80 wholly-owned firms, holding subsidiaries and various branches throughout 50 cities at home as well as international metropolises such as Hong Kong, Melbourne , London , and Boston .

2006/1/25 BASF

BASF, Huntsman and Chinese companies consider construction of additional MDI plant in China
http://www.corporate.basf.com/en/presse/mitteilungen/pm.htm?pmid=2130&id=SmQ-c83tlbcp*hT

Plant to have world-scale capacity of 400 kt/a crude MDI
Startup of new MDI plant planned from 2010 onward
Several sites being evaluated
MDI/TDI project in Caojing progressing as scheduled

BASF, Huntsman, and a group of Chinese companies - Shanghai Hua Yi (Group Company), Sinopec Shanghai Gao Qiao Petrochemical Corporation and Shanghai Chloro-Alkali Chemical Co., Ltd. - are considering the construction of a new MDI (diphenylmethane diisocyanate) plant in China to meet growing demand for this product. Several sites for the plant are being evaluated. The startup is planned from 2010 onward, and the plant is expected to have a capacity of 400,000 metric tons per year of crude MDI.

“The market for polyurethanes in China is expected to grow at a double-digit rate and will become the largest in the world within the next decade,” said Jean-Pierre Dhanis, President of BASF's Polyurethanes division. “We want to participate in this dynamic growth, and better serve our customers through local production.”

MDI is an important precursor in the manufacture of polyurethanes ? versatile polymers that are used in the automotive and construction industries, in appliances such as refrigerators, and in footwear.

As part of BASF's investment strategy for the Chinese market, an integrated isocyanates complex is currently under construction at the Shanghai Chemical Industry Park in Caojing. This project is progressing as scheduled, and is expected to begin commercial production by mid-2006. The complex is also a joint venture between BASF, Huntsman, and the same group of Chinese companies mentioned above. It will have a capacity of 240,000 metric tons per year of crude MDI, and 160,000 metric tons per year of TDI (toluene diisocyanate). The total cost for the complex is about $1 billion.

BASF is one of the largest foreign chemical investors in China, with sales of almost Euro1.9 billion in 2004 and a workforce of 4,000 employees. By 2010, BASF aims to generate 10 percent of its global sales and earnings in its chemical businesses in China.

2006/1/23 AMEC

AMEC appointed project management contractor of billion dollar coal-to-chemicals development, China
http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1108

AMEC, the international project management and services company, has been appointed by the Ningxia Coal Industry Group (NCG) as the project management contractor for the development of a new US$1.5 billion coal-to-chemical production complex in the Ningxia Hui Autonomous Region in northwest China.

The value of the multi-million dollar contract has not been announced.

AMEC’s role, which it will carry out as part of an integrated project team with NCG, will involve setting up project management procedures and taking responsibility for the contracting strategy, construction management advice and support, safety, health and environmental issues, quality assurance, commissioning and start-up management support and several other operational and commercial functions. The project will use AMEC's proprietary project management system, CONVERO.

Work on the new facility, which is designed to produce 540,000 tonnes of polypropylene per year, will begin in February this year and will be completed in early 2009. Polypropylene is a chemical product usually derived from oil refining and ethylene processing but the project will use coal as the feedstock, which will come from large reserves in the Ningxia area.

The complex will include a coal gasifier plant, a methanol and methanol-to-propylene unit, and a polypropylene unit.

“China is making major investments in plants to convert coal into oil, gas and chemicals to reduce its reliance on foreign imports, and the Ningxia contract marks our entry in to this new and fast-growing sector, said Neil Bruce, managing Director of AMEC’s Oil and Gas business. “It also reinforces our position as a leading project management contractor in China, building on our success on the multi-billion dollar SECCO Ethylene plant and the recent award of a technical services contract for Petrochina’s Dushanzi project.”

Notes to editors:
AMEC plc is an international project management and services company that designs, delivers and supports infrastructure assets for customers worldwide across the public and private sectors. AMEC employs 44,000 people in more than 40 countries, generating annual revenues of around £5 billion. AMEC’s shares are traded on the London Stock Exchange where the company is listed in the Support Services sector (LSE: AMEC.L).

Ningxia Coal Industry Group is a state-owned company, owned jointly by provincial and central government. The major holder is Shenhua Group which is the largest coal industry group in China, owned by the central government.

日本経済新聞　2006/3/18

住友商事　中国で医薬強化　増資へ新制度活用も

　住友商事が中国での医薬事業強化に大きく踏み出す。同社が２０％出資する中国の製薬会社、河南天方薬業が17日の臨時株主総会で、新株の発行に道を開く議案を可決したことがきっかけだ。住商は今後、中国政府が定めた新たな投資促進策を活用し、出資比率の引き上げを検討する。
　上海証券取引所の人民元建てＡ株市場に上場する河南天方は総会で、市場で取引されない「非流通株」を解消し、一定期間後に全株式を市場で売買できる「流通株」に転換することを決めた。非流通株の解消は中国のＡ株上場企業が新たな株式発行などをするための前提条件となっている。
　住商は河南天方を中国での医薬・バイオ事業の柱と位置づけている。２月末に２０％の出資を完了し、２００７年３月期から連結の持ち分法適用会社とるのに続き、３０％をメドに出資比率を高めたい考えだ。
　その際には、中国政府が１月３０日付で施行した長期的な保有などを前提に、外国企業によるA株上場企業へ投資を明文化した新しい規定を活用する。現時点ではスイスのセメント大手ホルシムが計画を表明しただけで、住商が利用すれば日本企業で初めてとなる。

日本経済新聞　2006/3/23

中国　設備過剰で法的手段も
　新規参入を制限・小規模企業を淘汰　地方に通達　電カでも懸念

　中国国務院(内閣)は１０業種を対象に、法的手段によって新規参入を制限したり小規模設備の淘汰を加速するよう地方政府などに通達を出した。国内の設備過剰を解消する狙い。かねて過剰が指摘されてきた自動車や鉄鋼だけでなく、足元では不足が問題になっている電力でも将来は過剰になる懸念があると指摘した。過剰対策はこれまでも取られてきたが効果は上がっておらず、強制力のある対策を打ち出すことで安定成長を目指す。
　国務院によると、設備能力が過剰なのは自動車、鉄鋼、アルミニウム、カーバイド、合金鉄、コークスの６業種。過剰問題が将来、顕在化すると懸念しているのが電力、セメント、石炭、紡織の４業種。
　通達では法律や行政的な手段で過剰業種への融資方法を見直したり、環境保護や資源・土地の有効利用の点から新規参入を厳しく選別するよう求めている。低品質の製品を生産し、環境汚染を発生させている小規模企業の整理や淘汰を加速させる。
　自動車や鉄鋼では生産能力の３割が過剰とされ、いずれの業界も利益が縮小している。今回注目されるのが、２００３年ごろから不足が深刻になった電力の過剰懸念を明確に指摘した点だ。
　政府が発電能力増強を呼びかけ金融機関も積極融資してきた結果、もうかるとみた新規事業者が相次ぎ参入、乱立状態となった。０５年末の発電能力は５億１千万キロワットで、０５年中に着工した発電設備の合計能力は１億キロワット。これらが０６年から０７年にかけて稼働すると需要を上回る。発電所の稼働を維持できなくなり経営が不安定になる懸念がある。通達は乱立する小規模発電所計画を停止させ、大規模発電所を中心に新設するとの方針を盛り込んだ。
　中央政府は０４年ごろから素材などの設備過剰に危機感を強め、増産を抑制するよう指導してきた。しかし過剰な設備建設に対する明確な罰則がなく、地元経済発展のため地方政府が増産を奨励してきたため過剰に歯止めがかかっていない。
　沿岸部より発展が遅れた内陸部などでは０６年からの新５カ年計画で年率１０%前後の高い経済成長目標を掲げ、自動車や鉄鋼などの増産を加速させる方針。
　今回の通達を受けて地方政府などが具体的な対策を打ち出すとみられるが、どこまで実効性を上げられるか疑問視する声もある。

Platts 2006/3/28

China's Maoming completes BTX expansion, first supply out H1 May

China's Sinopec Maoming has completed expansion works at its 460,000 mt/year BTX unit, slightly earlier than scheduled, a company source said Tuesday. The company was expected originally to complete expansion on Mar 30.
The BTX plant is being expanded by 310,000 mt/yr from an original capacity of 150,000 mt/yr.
"We will restart the expanded plant in April and supplies will be released to the market by the first half of May," the source said. Maoming's newly expanded BTX plant, with a total aromatics capacity of 460,000 mt/year, includes a 179,000 mt/year benzene unit, a 92,200 mt/year toluene unit and a 84,000 mt/year MX unit.
Sinopec Maoming is a subsidiary of the state-owned oil and petrochemical company Sinopec, and situated in south China's Guangdong Province.

Platts 2006/3/31

China's Fushun gets nod on 800,000 mt ethylene plant expansion

PetroChina Fushun Petrochemical in China's northeastern Liaoning province has received a green signal from the Chinese central government on its 800,000 mt/year ethylene production capacity expansion plan, a PetroChina official said Friday.
Fushun Petrochemical, a refining and petrochemical subsidiary of publicly listed Chinese oil giant PetroChina, has 10.7 million mt/year of crude processing capacity and 175,000 mt/year of ethylene production capacity in Liaoning's Fushun city.
The estimated Yuan 20 billion ($2.49 billion) expansion program would lift Fushun Petrochemical's annual ethylene production capacity to about 1 million mt upon completion. Fushun Petrochemical is the second Chinese oil products and petrochemicals producer which received approval from the central government this month on its ethylene production expansion.

Beijing had given it the go-ahead for its 1 million mt/year new ethylene plant development in eastern Zhejiang province, Sinopec Zhenhai Refining and Chemical Company said earlier this week. ZRCC officials noted a project of such scale would normally take three years to develop.

The Chinese government has planned for 10.58 million mt of new ethylene capacity addition between 2006 and 2010. During the country's 11th Five-Year Plan period, the expansion and revamp of existing ethylene production facilities would contribute 4.38 million mt of new capacity. The construction of new ethylene projects would add another 6.2 million mt to the national total during the five-year period.
China produced 7.56 million mt of ethylene in 2005, representing an increase of 20.4% on the year. Its designed annual ethylene output capacity reached about 8 million mt last year.

China Chemical Reporter 2006/3/29

Zhenhai 1 Million T/A Ethylene Project Approved

On March 17th, 2006, the National Development and Reform Commission announced that it has approved the 1 million t/a ethylene project in Zhenhai Refining & Chemical Co., Ltd., located in Zhenhai, Zhejiang province. According to the whole plan of China Petrochemical Corporation (Sinopec Group), the project is scheduled to be started construction in 2006 and completed in 2009.

Zhenhai got approval of 800,000t/y ethylene project from NDRC in 2004 and after that they changed their plan to 1,000,000t/y.
The procedures of ZRCC new ethylene project as follows:
1. send to NDRC for approval,
2. get nod from NDRC, and then sent to State Council for approval,
3. State Council give nod and feedback to NDRC,
4. NDRC give feedback to ZRCC

Platts 2006/4/10

China's construction sector will absorb new SM capacity: Do How

Poor styrene monomer cash margins have not deterred China's Do How Chemical (Donghao) from a planned expansion of its plant in Changzhou as the firm expected the construction sector in China's northern provinces to absorb its additional output, a company source said Monday. Do How will take down its SM plant later this month for debottlenecking. Sources close to the firm gave varied accounts of the plant's proposed new capacity, ranging between 180,000 mt/year to 216,000 mt/year.
The plant currently has the capacity to produce 150,000 mt/year, but has rarely operated beyond 80% of its capacity since it started commercial production in December 2005. A company source attributed the protracted reduced runs to a series of mechanical problems, and claimed they were unrelated to weak economics.
The plant outage is slated to start from April 25 and last two weeks. Do How plans to pack in multiple major jobs during the short period of time, chiefly the replacement of many of the facility's malfunctioning parts and the capacity expansion itself. Many established SM producers in Japan, South Korea and Taiwan typically shut their plants for a month for maintenance alone.
Do How plans to operate the plant at full capacity from May 10, after the expansion is completed. "We set an internal target to produce about 18,000 mt of styrene monomer per month thereafter," said a source. Do How Chemical had been cutting back on its benzene spot purchases from the international market since February in favor of buying locally from the state-owned oil, gas and petrochemical firm Sinopec.
Sources close to Do How said it has decreased its benzene spot purchases in the last two months by almost 3,000mt. Previously Do How Chemical typically bought about 9,000mt of benzene monthly from the spot market.

Platts 2006/4/26

China Dalian Petrochem to start new PP line end-May or early June

PetroChina Dalian Petrochemicals Corp in China's northeastern Liaoning province plans to start-up its new polypropylene unit by the last week of May or early June, a company source said Wednesday.
According to the company's original timeline, the unit was supposed to begin operations at the end of last year or early this year. However, the company had to delay the start-up as safety checks on some of its plant equipment required took longer than initially projected.
Dalian Petrochemicals has no problems in acquiring propylene feedstock for its new plant. Its entire propylene feedstock would be sourced from its refinery at the same site.
The company operates two other PP facilities with a combined capacity of 125,000 mt/year at the same site.

---

Asia Chemical Weekly 2003-7-18

China's Dalian Petchem likely to delay PP startup to Q2 '05

Dalian Petrochemical expects to delay the startup of a polypropylene (PP) project in Dalian, Liaoning, China, to the second quarter of 2005, a company source said.

The 200 000 tonne/year project was originally expected to come onstream at the end of 2004 or in Q1 2005.

The source said the startup looked likely to be delayed as work on the project was held back due to travel restrictions during the Sars epidemic in China earlier this year.

The project will use Basell's technology. Propylene feedstock will come from Dalian Petrochemical's own refinery.

The source added that the company is still considering building a paraxylene (PX) plant that will be integrated with its refinery. Chinese government approval has been sought to expand the 10.5m tonne/year refinery to 20m tonne/year.

However, the PX project is still in its early stages, as parent company PetroChina has yet to approve it.

Platts 2006/5/8

Jilin PC delays phenol-acetone unit restart for the third time

China's Jilin Petrochemical in Jilin Province has delayed the restart of its 120,000 mt/year phenol-acetone plant for the third time, a company source said Monday. The company had expected to resume operations from May 8.
However, it had not received the green signal from the Chinese government to restart the plant Monday. "We are uncertain when we will receive approval from the government," the source said. There had been "numerous enquiries" by the company requesting the Chinese government to expedite the process.
In November 2005, the company had stopped phenol-acetone production following an explosion at one of its 70,000 mt/year aniline units at the same site on November 13. The blast had polluted the Songhua River with benzene, aniline and nitrobenzene. The company has two aniline units at the complex.
The incident prompted China's State Environment Protection Administration to give strict orders to the company to start modifications of its waste management system at its petrochemical complex. All modification work at the plant as well as test run of its systems had been successfully completed by end-April.
In related news, Jilin Petrochemical has also shelved its plans of selling the second 70,000 mt/year aniline unit at the same site, which it had contemplated doing so in early March. The first 70,000 mt/year unit, which exploded in 2005, has been permanently taken offline. "The aniline market appears profitable this year, so we have put off plans to sell the second
unit," the source said.

2006/5/18 Platts

Sinopec Baling PC finishes CPL plant expansion

Sinopec's Baling Petrochemical has completed expansion work at its 140,000 mt/year caprolactam plant in Yueyang, Hunan, China, three months ahead of schedule, a company source said early Thursday. The company plans to ramp up operations to full capacity in the coming weeks.
According to the company's original schedule, the capacity expansion was supposed to be completed by end-July or early August 2006. However, owing to the early arrival of its required plant equipments, the company was able to complete construction ahead of time.
Meanwhile, Baling Petrochemical is looking to double its caprolactam capacity by a further 140,000 mt/year next year. Work would commence in the begining of 2007.
"Our aim is to alleviate China's reliance on international imports," the source said. As per estimates on an average, China imports 60-70% of its caprolactam requirements. China requires an average of 70,000 mt of caprolactam each month and 40,000-45,000 of its requirement were supplemented by imports. The source added that with several large expansion projects in the pipeline, China's imports could possible decrease by 10% by next year.
In related news, DSM Nanjing Chemical is in the midst of expanding its 140,000 mt/year caprolactam plant by 20,000 mt/year to 160,000 mt/year. Its is scheduled to be completed by early 2007.

2006/5/27　日本経済新聞

ナイジェリアの製油所　中国石油が買収交渉
　中国紙報道　投資額２０億ドルにも

　中国石油天然気(ぺトロチャイナ)がアフリカ最大の産油国ナイジェリアの製油所の買収交渉を進めている。中国紙の第一財経日報が２６日付で報じた。中国石油は買収と製油所の改修のために２０億ドルを投資する可能性があるという。
　買収対象はナイジェリアの国営石油会社の傘下にあるカドナ製油所。設計段階では日量で１１万バレルの精製能力があるが、実際の能力はその約７０%にとどまっているもよう。資金不足とずさんな管理などが重なり、経営が悪化している。
　中国は急増するエネルギー需要に対応するためアフリカと関係強化を進めている。胡錦濤国家主席は４月下旬にナイジェリアを訪問した際、油田開発に関する協定に調印し、探査事業や製油所の整備などで協力することで合意している。
　中国海洋石油(CNOOC)は今年初め、ナイジェリア南部の海底油田の権益を２０億ドル以上で買収。中国は今週初めにはナイジェリアの鉄道建設を巡り１０億ドルの融資で合意するなどナイジェリア重視は際立っている。
　中国はナイジェリア産原油を欧米市場に転売することにより、自国のエネルギー安全保障につなげたい立場とみられる。

Platts 2006/6/14

China's Hbon Chemical aims to start-up new BTX unit by end-2007

China's Hbon Chemical plans to start-up its new 250,000 mt/year benzene, toluene and mixed xylenes unit in Zhejiang either by October or November 2007, a company source said Wednesday. Construction begun in early May 2005 The source added that Hbon Chemical might consider expanding its BTX capacity to 300,000 mt/year.
The company's BTX unit would be relying primarily on imported naphtha feedstock. Meanwhile, Hbon Chemical intends to sell its benzene produce mainly in eastern China. "We are currently in the midst of negotiations with end-users in eastern China. If possible, we hope to sell most of our benzene output on contract," the source said.
Ningbo Hongbang Petrochemical and Ningbo Kaifeng Petrochemical, with each holding 20% stake in Hbon Chemical, while the remaining 60% stake is held by a foreign investment firm.

Platts 2006/6/15

Shanghai Gaoqiao to start-up SBR unit in July, ABS unit end 2006

China's Shanghai Gaoqiao is set to bring on stream its 100,000 mt/year styrene butadiene rubber unit in July, a company source said Thursday. It was preparing for a test run and is expected to get on-specification material in July.
The company would be sourcing its styrene and butadiene feedstock from its neighbour Shanghai Secco Petrochemical's 500,000 mt/year styrene plant. Gaoqiao's SBR output would be mainly sold in the domestic market.
Meanwhile, Gaoqiao plans to start-up a new 200,000 mt/year acronitrile-butadiene-styrene plant by the end of 2006, the source said. Secco would be providing 12,000-13,000 mt/mth of styrene feedstock for the unit. Gaoqiao would be selling its ABS product primarily in the domestic market, with some portion exported to Japan or other countries depending on market demand.

2006/6/19 Albemarle

Albemarle to Build Phosphorus Flame Retardants Plant in China

Global flame retardant leader Albemarle Corporation will build a new phosphorus-based flame retardant manufacturing facility at its technology and business center in Nanjing, China. Products from the new plant, which is expected to be fully operational in the second half of 2007, will help meet growing global demand for fire-resistant polymer systems and resins for construction and electronics materials.

From its new plant, Albemarle will supply phosphorus flame retardants for rigid and flexible polyurethane foams used in insulation and for resin blends such as PC/ABS and PPE/HIPS, used in electronic enclosures. The products, which will be marketed worldwide, are expected to help meet strong demand particularly in Asia, where construction and electronics markets are thriving.

"We are expanding our operations for an expanding market," said Luc van Muylem, Albemarle Division Vice President of Flame Retardants, about the new facility. "We are already helping the Asian plastics market meet its growth potential through advanced local customer technical service from our Nanjing site, primarily for construction and furniture markets, and will soon do the same for electronics plastics makers."

Albemarle began construction of its wholly owned Nanjing technology and business development center in December 2005. Some business and technical service work is already conducted from the site, and the center is expected to be fully operational in the third quarter of 2006. The center will provide technical support for Albemarle's polymer additives and polymer catalysts customers in the Asia Pacific region, as well as research to expand additive applications.

"This manufacturing investment is another step in the development of our new Nanjing site, and further strengthens Albemarle's flame retardant leadership position, especially in the rapidly growing Asia Pacific market," said John Dabkowski, Albemarle Vice President of Polymer Additives.

Albemarle's patents and market position in brominated, mineral and phosphorus flame retardant technologies, and its commitment to consumer fire safety advocacy and product stewardship make Albemarle the world leader in flame retardant solutions for polymers. The company's products help prevent fire in or improve the fire safety of materials found in circuit boards, connectors and enclosures for electronic and electrical devices; comfort foam in furniture and automobiles; wire & cable; and roofing, rigid insulation foam, adhesives, coatings and other construction materials.

Albemarle Corporation, headquartered in Richmond, Virginia, is a leading global developer, manufacturer and marketer of highly engineered specialty chemicals for consumer electronics; petroleum and petrochemical processing; transportation and industrial products; pharmaceuticals; agricultural products; construction and packaging materials. The Company operates in three business segments -- Polymer Chemicals, Catalysts and Fine Chemicals, and serves customers in approximately 100 countries. Learn more about Albemarle's flame retardants at http://www.albemarle.com.

2006/6/26 Valpar

Valspar to Acquire Majority Interest in Huarun Paints
Leading Chinese Coatings Company Expands Valspar’s Customer Base in Fast-Growing Market
http://www.valspar.com/val/ne/viewnews.jsp?newsid=29602

The Valspar Corporation, a leading global coatings company, announced today that it has agreed to acquire a significant majority of the share capital of Huarun Paints Holdings Company Limited (Huarun Paints), one of China’s largest independent coatings companies, from Champion Regal, a Hong Kong based investment company. Founded in 1991, Huarun Paints has grown to become one of China’s leading domestic suppliers of wood and furniture coatings and a rapidly growing supplier of architectural coatings. Huarun Paints achieved sales of approximately $180 million in 2005, primarily through its focus on the development of an extensive network of distributors and exclusive retail paint stores throughout China. The cash purchase transaction is expected to close by the end of July and to be slightly dilutive to Valspar’s earnings in fiscal years 2006 and 2007.

“Valspar is pleased to expand its presence in China with Huarun Paints’ management team and current shareholders as our partners,” said William Mansfield, Valspar’s President and Chief Executive Officer. “We have a high regard for the entrepreneurial culture established by the company’s founders and the superb senior management team leading its growth. As a group, the company’s current shareholders and management team will retain a minority interest in Huarun Paints. They have developed an outstanding distribution network with significant growth potential. By combining the resources of our two companies, we intend to expand Huarun Paints’ product offering and geographic reach in the world’s fastest growing coatings market.”

With fiscal 2005 sales of $2.7 billion, Valspar is a global leader in the paint and coatings industry, with a broad range of products including industrial, architectural, packaging, automotive refinish and floor coatings and specialty polymers and colorants.

Huarun Paints Holdings Co.,Ltd.

Huarun Paints Holdings Co.,Ltd. is a large-scale group company covering the trades of chemical painting, metal package, hardware and art ware, trading, and painting engineering, etc., with its headquarters located in Hong Kong, China.

Among the companies of Huarun Group, China Guangdong Huarun Paints Co. Ltd. occupies the principal status. Originally established in 1991, it is a high and new tech enterprise specialized in the research and development, production and sales of the series products such as high class furniture painting, water born paints, architectural decoration and fitment paints and adhesives, etc.

Growing up in the “Hometown of Paints of China”, China Guangdong Shunde Huarun Paints Co. Ltd. has become the leader in the painting industry in China for years.

Huarun Paints possesses a production base of 7 square kilometers, which adopts full process monitoring technique of Germany. The output and sales volume of the products have been standing in the front position in the same industry in China for many years.

Huarun Paints has collected the top scientific research talents of the industry in China and employed several painting research and development specialists from Germany and other countries, so it has been standing in the front of the technical innovation of painting products for many years by basing itself at an advanced starting point, adhering to high quality and pursuing full range quality control. This company has quite a few items of technology and products awarded with prizes or honors by the country every year.

Huarun Paints was the first in the painting industry of China to pass the certifications of ISO9001Quality System, ISO14001 Environmental System and Environmental Symbol Product of China, etc. Moreover, the trademark of “Huarun” has been recognized as a Famous Brand of Guangdong Province, China, and the products have been appraised as famous brand products of Guangdong Province, China. Huarun Paints has become one in the first batch of enterprises awarded with the honor of “Exemption from Inspection on Product Quality by the Nation”.

Huarun Paints has established a unique sales network in the painting industry, covering the large, medium and small sized cities and towns all over China with several hundreds of dealers and a few thousands of Specialized Shops, through which the products can be distributed to various places all over China quickly and the requirements of the customers can be responded more efficiently and effectively.
Huarun Paints provides perfect after-sales services to the customers with technical innovation and the marketing strategy of promoting sales and providing services simultaneously, and has established technical service centers in a few dozen of main cities in China and possesses a team of technical engineers with profound construction experiences.

As one of the key high and new tech enterprises of the country, Huarun Paints has established long-term and steady partnership with quite a few famous companies in the world to ensure exchange of the latest research and development technology and the provision of high quality raw materials.

Huarun Paints Group would like to conduct full range of cooperation and exchange with the enterprises all over the world in the fields of chemical painting, metal package, hardware and art wares, trading and painting and fitment engineering, etc.

Valspar Corporation
http://www.valspar.com/val/av/av.jsp

The Valspar Corporation is one of the largest global coatings manufacturers in the world, providing coatings and coating intermediates to a wide variety of customers. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality, and the best customer service in the coatings industry.

With more than 7,000 employees in over 80 locations around the world, Valspar is in a truly unique position to supply customers with the coating solutions they need. Our products include:
・Paints, varnishes, and stains for the do-it-yourself and professional markets
・Coatings and inks for rigid packaging, particularly food and beverage cans
・Factory applied coatings for industrial customers and original equipment manufacturers
・Automotive refinish and specialty coatings
・High performance floor coatings for industrial, commercial, and sports flooring applications
・Polymers and dispersions for paint and coatings manufacturers, and more
・Interior protective coatings and external basecoats and overvarnishes with highest abrasion resistance for aluminium monobloc aerosol cans and bottle cans
・Basecoats and internal protective coatings for aluminium collapsible tubes
・Matt, soft-feel and other special effect coatings for plastic and glass containers for the cosmetic industry
・UV varnishes, waterbased varnishes and laminating adhesives for the Graphic Arts market
・Primers, coatings and varnishes for industrial coils on steel, HDG and aluminium for the building industry

Headquartered in Minneapolis, MN, our diverse array of products makes us one of the most complete suppliers anywhere, and the sixth largest paint and coatings company in the world. Please visit our products page to learn more about a specific Valspar offering.

2006/7/12 China Daily

2 coal-to-oil plants to be built
http://www.chinadaily.com.cn/bizchina/2006-07/12/content_639060.htm

State-owned Shenhua Group's Ningxia affiliate has teamed up with Royal Dutch Shell and South Africa-based Sasol to build two coal-to-liquids plants in the northwestern autonomous region with an investment of up to US$12 billion.
The plants will help enhance energy security and enjoy good market prospects because of soaring oil prices, analysts said.

Shenhua Ningxia Coal Industry Company, a subsidiary of the biggest coal company in China, yesterday signed a joint study agreement with Shell Gas & Power Development BV to build a facility to convert coal into oil products such as petrol and diesel.
The new plant, to be set up at the Ningdong coal production base, will cost US$5-6 billion, said Lim Haw Kuang, executive chairman of Shell Companies in China.
The study is expected to be completed by 2009, and the plant will be able to yield 3 million tons of oil a year, or 70,000 barrels per day (bpd) by 2012, Shell said.
The plant will use Shell's indirect coal liquefaction technology, which turns coal to gas and then liquefies it into fuels.

The plants using the technology will break even if global oil prices hover at US$25-27 per barrel, said Qi Tongsheng, vice-governor of Ningxia Hui Autonomous Region.
Analysts say global oil prices are unlikely to drop below US$40 per barrel in the near term.

The agreement on the study followed a memorandum of understanding inked in February between Shell and Shenhua.
Lim said the Chinese company would take a lion's share in the new venture, but Shell's stake was also "fairly big," without elaborating.
Both sides have yet to decide how to retail their products but Yan Guohui, a senior engineer with Shenhua Ningxia, said one option would be to set up joint service stations with Shell or sell to the country's top two oil firms, Sinopec and PetroChina.
"Talks haven't gone that far, and we will elaborate on the retailing details later," Lim told reporters yesterday at Yinchuan, capital of Ningxia.

Another similar project is also being planned in Ningxia between Shenhua and Sasol, one of the global leaders in coal liquefaction technologies.
Shenhua last month signed a co-operation agreement with Sasol to develop an 80,000 bpd coal-to-oil plant in Ningxia.
"The two plants are almost the same in terms of technology, investment and timescale," said Wang Jian, president of Shenhua Ningxia.
Qi said the Sasol plant might begin operation "months" after Shell, in 2012.

While the two Ningxia plants adopt the overseas indirect technology, Shenhua will test its own direct technology which turns coal into oil products without the gasification process in the Inner Mongolia Autonomous Region.
The plant, located at the Ordos Basin, is expected to come on stream as early as the end of next year, Shenhua Vice-President Zhang Yuzhuo said earlier.

A pioneer in developing the coal-to-oil business in China, Shenhua aims to convert coal into 30 million tons of oil products at eight plants in four northern provinces by 2020.
China is expected to use 115 million tons of petrol and diesel by 2010, a figure expected to reach 216 million tons by 2020, Zhang said last month.

日本経済新聞　2006/7/19

ぺトロカザフ株　中国石油、33%売却　カザフ国有石油に　脅威論に配慮

　中国国有石油最大手の中国石油天然気集団(CNPC)は昨年１０月に買収した石油大手ペトロカザフスタンの株式３３%を、カザフスタンの国有石油会社カズムナイガスヘ売却した。カザフ国内ではエネルギー分野で急速に存在感を増す中国に対する脅威論も広がっており、今後カザフでの事業を円滑にするため株の売却に踏み切ったとみられる。
　ペトロカザフはカナダに本社を置く企業だが、油田権益の大半がカザフにあり、原油生産量はカザフの総生産量の１２%に当たる日量１５万バレル。昨年１０月にCNPCが４１億８千万ドルで買収した。CNPCとカズムナイガスは今後、ペトロカザフが生産する原油を出資比率に応じて分配する見通しだ。
　CNPCのペトロカザフ買収を巡る昨秋の交渉は、カザフのエネルギー相がぺトロカザフの株主に買収を認めないよう働きかけるなど、一時は難航した。結局、株式の一部をカズムナイガスが取得できる条件で買収が成立した経緯がある。
　昨年８月には中国国有の中国海洋石油（CNOOC)による米ユノカル買収が、米議会の反発で断念に追い込まれている。不足するエネルギー確保のために海外の石油会社買収を急ぐ中国の戦略は摩擦も目立っており、広がる脅威論を抑え込む配慮も迫られている。

2006/8/18　Cabot

Cabot Corporation Announces Start-Up of New Carbon Black Facility in Tianjin, China

Cabot Corporation announced today the start-up of its new, world-class carbon black facility located in Tianjin, China. The state-of-the-art facility is a project of Cabot Chemical (Tianjin) Co., Ltd., an equity joint venture between a Cabot subsidiary, Cabot (China) Limited, and Shanghai Coking Chemical Company, a member of the Huayi Group. Cabot Chemical (Tianjin) Co., Ltd. invested approximately US$60 million to construct the plant with an annual capacity of 105,000 metric tons.

The new facility includes two production units that utilize the latest Cabot manufacturing technology incorporating advanced environmental systems for both energy recovery and flue gas de-sulphurization. Both new units are operating at full capacity to support the growing demand in the China market.

The facility includes two production units, one of them has capacity of 61 000 tonne/year and has been completed on Feb. 2006.
The newly added is second carbon black unit, it has capacity of 44 000 tonne/year, and which make the total capacity of Cabot reached 105 000 tonne/year in Tianjin Economic Development Area (TEDA), Tianjin city.

Cabot Chairman and CEO Kennett F. Burnes said, "Cabot is very pleased with the successful start-up of the Tianjin facility, one of the most technologically advanced carbon black manufacturing sites in the world. Working together with the highly skilled local workforce and with the continued support of local officials in China, we are committed to supplying high-quality carbon black products to meet customers' growing demand."

At the official opening ceremony, Mr. Xinsheng Zhang, president of Cabot (China) Limited said, "Constructed in only 14 months, this greenfield project includes the latest environmental and energy-efficient technology. The successful construction and production startup of this state-of-the-art facility are the result of the project team's hard work and strong support from the Tianjin and TEDA governments."

"Effective execution of this project reflects the strength of our longstanding relationship with our partner, Cabot Corporation. We look forward to building on the success of this relationship," said Hu Gongming, chairman of Cabot Chemical (Tianjin) Co. Ltd. and Party Secretary of Shanghai Coking Co., Ltd. Cabot and Shanghai Coking have been joint venture partners since 1988.

Cabot Corporation is a global specialty chemicals and materials company headquartered in Boston, Massachusetts, USA. Cabot's major products are carbon black, fumed silica, inkjet colorants, capacitor materials, cesium formate drilling fluids, and aerogel materials. The website address is: http://www.cabot-corp.com.

2006/8/16 Cabot

Cabot Corporation Announces Completion and Start-Up of First World Class Fumed Silica New Facility in Jiangxi Province, China
Jiujiang （九江）、江西省

Cabot Corporation announced today the start-up of China's first world-class fumed silica manufacturing facility located in Jiangxi Province, China. The facility is a project of Cabot Bluestar Chemical (Jiangxi) Company Ltd., a joint venture between a Cabot subsidiary, Cabot (China) Limited, and Bluestar New Chemical Materials Co., Ltd., a member of the ChemChina Group. Cabot Bluestar Chemical (Jiangxi) Company Ltd. invested approximately US$27 million to construct the plant with an annual capacity of 4,800 metric tons.

The new facility is designed to primarily serve the growing fumed silica market in China. Cabot Chairman and CEO Kennett F. Burnes said, "The adoption of fumed silica in industrial applications in China is growing rapidly. We are confident that with the successful commissioning of our new facility, we are well-positioned to meet the needs of our customers in China by providing high quality product in a timely manner."

Mr. Ren Jianxin, president of ChemChina, parent of China National Bluestar Group, said, "The successful production start-up of this high quality fumed silica plant is the result of close cooperation between Cabot's project team and Bluestar's Xinghuo plant personnel. This project reflects the close relationship between Cabot and ChemChina at all levels."

"Our domestic customers are anxious to use the products from our Jiangxi facility because this will significantly shorten their transportation cycle and provide a more reliable source of supply," said Mr. Xinsheng Zhang, president of Cabot (China) Limited. "We expect immediate full utilization of the production capacity of this plant."

About Cabot Corporation

Cabot Corporation is a global specialty chemicals and materials company headquartered in Boston, Massachusetts, USA. Cabot's major products are carbon black, fumed silica, inkjet colorants, capacitor materials, cesium formate drilling fluids, and aerogel materials. The website address is http://www.cabot-corp.com.

About China National Bluestar (Group) Corporation

China National BlueStar (Group) Corporation is a large-scale state-owned enterprise, a subsidiary of ChemChina Group Corporation. Headquartered in Beijing, BlueStar Co. focuses on chemical products and new materials. ChemChina has total assets of RMB 30 billion, and over RMB 30 billion sales revenue with more than 43 subsidiaries and scientific research institutes. Bluestar's website address is http://www.china-bluestar.com/

2006/8/21 Solvay

Solvay to launch fluorochemicals production in China
Joint Venture Paves the Way for Development of High-Value Fluorine Business in Asia

Solvay announces today that it has signed an agreement with Zhejiang Lantian Environmental Protection Hi-Tech Co. Ltd for the creation of a joint venture for the production and supply of hydrogen fluoride (HF　ふっ化水素), an essential building block for many high-value added fluorinated products.

Pending the relevant regulatory approvals, the joint venture is scheduled to start operating in 2007, under the name Zhejiang Lansol Fluorchem Co. Ltd. The production unit, with a total annual production capacity of 20.000 tonnes, will be located in the Zhejiang Quzhou 衢州Hi-Tech Industrial Park, some 500 kilometres south-west of Shanghai. Lantian will own 70% of the joint venture, while Solvay will hold the remaining 30%.

The total amount of the investment will not be released.

The production of Lansol is essentially aimed at fulfilling the needs of Lantian and Solvay for their downstream activities, such as Solvay’s future production facility for fluorinated chemical specialties in Onsan, South Korea, which is scheduled to start operations in 2007. Solvay has also recently announced the creation of a new world-class fluorinated polymer production unit in Changshu, China, which will be operational in the second half of 2007 and could rapidly expand by adding more products to its specialty polymer production capabilities.

“China is the world’s largest producer of Fluorspar, the mineral needed to produce hydrogen fluoride; China and Asia are also the place where Solvay wants to grow its fluorinated specialties activities,” explained Vincent De Cuyper, General Manager of the Chemical Sector, Solvay. “That is why the creation of Lansol is a new, important step in the implementation of our strategy of sustainable and profitable growth through geographical expansion,” he added.

“We are also very fortunate to enter into an alliance with Lantian, whose economic, technological and environmental performances are best in class worldwide” concluded De Cuyper.

Zhejiang Lantian Environmental Protection Hi-Tech Co., Ltd. is a leading fluorochemicals producer, mainly devoted to the development and production of substitutes for ozone depleting substances. More than 60% of its products are exported to America, Asia and Europe.

SOLVAY is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs some 30,000 people in 50 countries. In 2005 its consolidated sales amounted to EUR 8.6 billion generated by its three activity sectors: Chemicals, Plastics and Pharmaceuticals. SOLVAY is listed on the Euronext stock exchange in Brussels. Details are available at www.solvay.com