Russia, Mineral Fertilizers
In February the Russian enterprises of the chemical industry maintained a positive dynamics of growth of manufacture of basic chemicals.
In December Russian enterprises of chemical industry retained a high level of capacity utilization, the release of basic chemicals increased by 2.2% compared with November.
The Ministry of Agricultural Policy looks for alternative countries for the supplies of fertilizers to the Ukraine due to the higher prices of the Ukrainian monopoly producer and Russian suppliers,
An export of basic types of mineral fertilizers from Russia made up 12.65 million tons ($3 bln.) in January-May 2016, Federal Customs Service reports.
The volume of Russian fertilizers supply to the agro-industrial sector of the country increased by more than 20% against the previous year. Minister of Industry and Trade of the Russian Federation D.Manturov said in an interview to “Russia 24” TV channel.
Manufacture of basic chemicals in Russia grew by 3.7% within first three months of 2016. Grew up production of all basic chemical products, the exception made caustic soda and xylenes, the materials of Rosstat inform.
According to the Federal Service of State Statistics, in March 253 thousand tons of ethylene were produced versus 234 thousand tons a month earlier. In general, in January – March 2016 more than 753 thousand tons of olefin were produced, which is 5.9% more compared to the same period in 2015.
In 2015, the production of basic chemicals in Russia increased by 6.3%. The production of all basic chemical products grew, and the largest increase in the output fell on ethylene, the Russian Statistics Service reports.
EuroChem and its former contractor Shaft Sinkers have signed a settlement agreement after three years of litigation over the construction of a potash mine at the Gremyachinskoye deposit. The chemical company demanded more than $900 million for the use of notoriously inefficient technologies and missed deadlines of the project. Terms of the settlement agreement weren’t disclosed, but lawyers believe that they must be beneficial to both parties.
EuroChem of Andrei Melnichenko has managed to settle the dispute on the Gremyachinskoye deposit with its former contractor Shaft Sinkers. All judicial and arbitration proceedings in respect of the construction company and its shareholdes - International Mineral Resources BV- are terminated or revoked. The parties don’t disclose the terms of the settlement agreement. Sources of the Kommersant on the market state that EuroChem will receive from the contractor "much less than it claimed in court".
Kuibyshevazot reflected in the financial statements under IFRS not only the increase revenue by more than a quarter, but the repeated increase in operating and net profit, gaining more than all the benefits derived from a weak rouble.
Since January to September 2015 the volume of production of major products in Kuibyshevazot increased significantly compared with 2014. In particular, the production of ammonia and fertilizers more than doubled, the production of caprolactam increased by 96%, polyamide - 94%, industrial yarns - 91%. However, sales volumes for some products left much to be desired. Ammonium nitrate sold in this period - 5.4% less, kaprolatim - 11% less, polyamide - 5% less than a year earlier. But sales of carbamide increased by almost 50%.
Launch of the joint venture of "KuibyshevAzot" and the German Linde Group for the production of ammonia and hydrogen Ltd. "Togliatti Azot Linde" is scheduled for 2017, according to Rupec citing company data.
Information about the imminent completion of the project is not correct. "Some media voiced information on the status of the joint venture with Linde at 98% and it is not treated quite right. If we talk about the state of the object, it is likely, meaning the main construction work, which is really close to completion", - Rupec explained.