The Catalyst Review December 2019 - 3

COMMERCIAL NEWS
Turkish Wealth Fund to Invest
$10 B in Petrochemical
Refinery...
The Turkish wealth fund will invest
around $10 billion for the construction
of a petrochemical refinery in southern
Turkey, the state-run Anadolu news
agency said. The Turkish Wealth Fund
(TVF), worth $50 billion, was set up in
2016 by the government to develop
and increase the value of Turkey's
strategic assets and provide resources
for investment. Anadolu, citing
information obtained from the TVF, said
the fund would to invest around $10
billion for the construction of a refinery
and petrochemical complex in the
southern province of Adana. It said that
construction will begin in 2021. Source:
Hydrocarbon Processing, 12/3/2019.
Breakthrough Thermal Crude
Oil-to-Chemicals Technology
to be Deployed in Commercial
Plant by Mid-Decade...
Saudi Aramco is expected to complete
development work to commercialize
its breakthrough thermal crude oil-
to-chemicals (COTC) technology by
next year with a world-scale plant
based on the process to be ready
by about the middle of the decade,
says Ahmad al-Khowaiter, chief
technology officer. The thermal COTC
process is being developed jointly by
Aramco, McDermott, and Chevron
Lummus Global (CLG). McDermott's
ethylene and CLG's hydroprocessing
processes are being combined
with Aramco's proprietary thermal
COTC technology. Aramco is already
developing a COTC project together with
Sabic at Yanbu, Saudi Arabia, but the
process likely to be used at this plant has
a crude-to-chemicals conversion rate of
45% compared with the thermal COTC
technology, which targets a 70-80%
conversion rate. Aramco is also working
on a separate, catalytic COTC technology
that is being developed in collaboration
with Axens and TechnipFMC. Development on this process is expected to be
completed in 2021. Source: Chemical
Week, 12/3/2019.
The Catalyst Review 										

Higher Emissions Standards Help Extend Booming Palladium
Rally...
Palladium has risen to new highs in recent days, bringing its rally for the year to
about 54%. Most-active futures inched up less than 0.1% to a record of $1,845.70
a troy ounce, erasing an earlier drop. They have roughly doubled since the summer
of 2017. The gains highlight the challenges facing investors trying to predict how
changing environmental standards and shifting technologies will affect commodity
markets. Analysts have long predicted that palladium will be replaced by platinum in
gasoline cars, but so far, demand continues to exceed supply. Supply deficits persist
in large part because of the logistical hurdles associated with replacing palladium
with platinum, analysts say. Palladium is more than twice as expensive as its close
relative and is still one of the market's best-performing assets in 2019, supported by
stricter emissions standards in Europe and China that are expected to lift consumption.
"Despite platinum's widening discount to palladium, we don't anticipate any meaningful
substitution of palladium in the car sector," said Giovanni Staunovo, a commodity
analyst at UBS Wealth Management, in a note to clients. "Palladium demand for
autocatalysts should keep rising." Mr. Staunovo predicts palladium consumption to
exceed supply for the ninth consecutive year in 2020, projecting that prices will climb
another 8.4% and exceed $2,000. Source: The Wall Street Journal, 12/5/2019.
Saudi Arabia Attracts $2 Billion in Potential Chemical
Investment...
Several companies have signed tentative deals with the Saudi Arabian General
Investment Authority that could lead to $2 billion in chemical investments. Mitsui &
Co. is eyeing construction of an ammonia plant, and the water treatment-chemical
maker SNF is considering a polyacrylamide plant. Shell plans a recycling facility that
will upgrade spent refinery catalysts from around the region. And BASF signed a
deal broadly aimed at "evaluating and assessing opportunities." Source: Chemical &
Engineering News (C&EN), 11/30/2019.
Saudi Arabian General Investment Authority, Shell and AMG
Sign Agreement to Assess Building a Spent Residue Upgrading
Catalyst Recycling Facility...
The Saudi Arabian General Investment Authority (SAGIA), Shell Overseas Services
Ltd. (Shell) and Advanced Metallurgical Group N.V. (AMG) signed a memorandum of
understanding (MOU) to evaluate the potential for construction and operation, subject
to regulatory approvals, of a spent catalyst recycling facility in Jubail Industrial City,
Saudi Arabia. The signing took place in Riyadh, Saudi Arabia. The MOU will allow SAGIA,
Shell and AMG to explore the feasibility of building a world class facility to reclaim
valuable metals by recycling spent residue upgrading catalysts generated by refineries
in Saudi Arabia and the surrounding region. Such a facility would help maximize the
benefits from the Kingdom's natural resources while addressing the need to provide
environmentally responsible management of spent residue upgrading catalysts. "This
MOU reflects Shell's interest in growing its presence in Saudi Arabia and serving its
clients locally and regionally. New global fuel regulations, combined with the growing
trend of crude oil to chemicals production, are leading refiners to develop sustainable
waste management plans for their spent catalyst. We look to have meaningful
opportunities to build strong relationships with local and international participants,"
said Andy Gosse, President of Shell Catalysts & Technologies. Source: Globe News Wire,
11/21/2019.
December 2019

3



The Catalyst Review December 2019

Table of Contents for the Digital Edition of The Catalyst Review December 2019

The Catalyst Review December 2019 - cover
The Catalyst Review December 2019 - contents
The Catalyst Review December 2019 - 1
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