You are currently viewing: News



19-06-2018

MOL Group enters into a partnership with INOVACAT

MOL Group entered into a strategic partnership with INOVACAT, a Dutch technology innovator in the refining and petrochemical industries. The cooperation is expected to further upscale and commercialize INOVACAT’s breakthrough GASOLFINTM technology that converts naphtha into propylene, butylene and BTX (benzene, toluene, and xylene), while supporting MOL’s strategic objective to become a leading chemical company in Central Eastern Europe.
 
MOL Group will support the next stages of the development program of INOVACAT and will investigate different options for the implementation of GASOLFINTM in its production facilities. This patented technology delivers propylene yields up to 45% depending on feedstock, can convert any light straight run naphtha including pentanes and is fully flexible on product output without a catalyst change-over. It is also at least 30% more energy efficient than comparable conventional processes, with CO2 emissions being at least 25% lower. Through its cost-leading, drop-in technology INOVACAT enables any refiner or petrochemical company to fully integrate their operations for maximum profitability and flexibility, providing them with a competitive advantage in their markets.

 “A main challenge of the MOL 2030 Strategy is to increase production of value added products, while reducing the production of fuels over the next 15 years.  We are investigating technical solutions to develop our existing refining and petrochemical asset base, but we are also very interested in new technologies like INOVACAT’s GASOLFINTM, that can potentially significantly help us meet our goal.” - said David Pullan, VP Group Downstream Technology & Development.

 “We are looking forward to working in partnership with MOL to provide them with our very competitive GASOLFINTM technology. This will enable MOL to convert their lower-value naphtha into propylene, butylene and BTX in a flexible and capital-efficient way.” - commented Niels van Buuren, CEO INOVACAT.

As MOL Group’s 2030 transformational strategy aims to diversify the company away from fossil-based motor fuels, it is continuously looking for new innovative technologies that increase the flexibility and strengthen its footprint in the petrochemicals business. By 2030, MOL plans to increase its non-fuel production in refining from the current 30% to 50% of total output, which will be done mostly through increasing feedstock transfer to chemicals. In order to reach its strategic goals, MOL plans to invest around USD 4.5 billion into its petrochemical segment by 2030, focusing mainly on the extension of the propylene value chain in the next five years.

Sponsor : 

Other News Items

Seminar | Graham Corporation VacAdemics Seminar in New Delhi

Graham Corporation will be holding their popular VacAdemics Seminar in New Delhi on 26 September 2018, the day after Refining India’s 2018 Conference. About ...

21-09-2018

Successful start-up of methanol plant using MegaMax® 800 catalyst from Clariant

Clariant, a world leader in specialty chemicals, today announced the successful start-up of its MegaMax 800 methanol synthesis catalyst at China National Offshore Oil ...

21-09-2018

Agreement for petrochemical industrial zone in Turkey

Rönesans Holding has signed a framework cooperation agreement with the Netherlands-based Port of Rotterdam for the Ceyhan Mega Petrochemical Industrial Zone in Turkey. Rönesans ...

19-09-2018

Samsung awards Mammoet new contracts for petrochemical sites

Mammoet is pleased to announce two new contracts with Samsung Engineering (Thailand) Co Ltd to provide transport and heavy lift works as part of two petrochemical projects ...

18-09-2018

Metso celebrates its 150th anniversary

In 2018, Metso celebrates its 150th anniversary. The story of Metso started in 1868 as a local ironworks, and is linked to the development of urban environments and the ...

18-09-2018

Graham Corporation awarded three orders

Graham Corporation, a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical, power and defense industries, today ...

18-09-2018

CVR refining announces intent to sell Cushing tank farm assets

CVR Refining, LP, a refiner and marketer of petroleum fuels, today announced that it intends to sell its Cushing, Oklahoma, crude oil tank farm and currently is entertaining ...

17-09-2018

Chart receives brazed aluminum plate fin heat exchanger order from Babcock

Chart has been awarded a contract by Babcock to provide brazed aluminum plate fin heat exchangers (BAHX) for its patent-pending ecoSMRT® LNG reliquefaction system ...

17-09-2018

Wison Engineering and Gazprom Neftekhim Salavat to collaborate

Wison Engineering Services Co. Ltd. recently announced that its indirect wholly-owned subsidiary Wison Engineering Ltd. entered into a memorandum with Gazprom neftekhim ...

17-09-2018

Ergon BioFuels plans to close ethanol plant

Ergon BioFuels, LLC, a subsidiary of Ergon, Inc., has announced plans to close its ethanol plant in Vicksburg, Mississippi, in December 2018. The 56.5 million gallon ...

14-09-2018