Latest news with #Sibur
Reuters
6 days ago
- Business
- Reuters
Russian Sibur doubles LPG loadings from Ust-Luga, resumes supply to India
MOSCOW, June 17 (Reuters) - Sibur, Russia's largest producer and exporter of liquefied petroleum gas (LPG), has doubled LPG loadings through the Baltic port of Ust-Luga in January-May 2025 compared to the same period in 2024 to 418,000 metric tons, according to two industry sources and LSEG data. The sources said Sibur managed to increase exports by fixing for shipments of several new MGC (medium gas carrier) class gas tankers, each able to carry up to 20,000 tons of product. The company also managed to resume LPG supplies to India it last did in 2023, LSEG data showed. Following EU sanctions on Russian LPG supplies (except for butane and isobutane) at the end of 2024, Sibur partially redirected volumes from Europe to Ust-Luga port for seaborne exports and looked for new buyers for its product, the sources said. Until April this year Sibur's LPG sea shipments were mostly Turkey-bound with about 90% of all shipments from Ust-Luga going to the country, but last month Sibur shipped two tankers with a total volume of about 40,000 tons to India. According to traders, Sibur shifted a part of the LPG volumes from Turkey to India because of the excess on the Mediterranean market. "There is a lot of gas on the (Mediterranean) market, especially propane. So it is quite a reasonable move to redirect part of the volumes to India," one of the sources said. Sibur confirmed to Reuters their LPG shipments from Ust-Luga to India in May. The company believes that the increase in LPG shipments by Sibur as a whole from Ust-Luga is due to "an increase in available volumes (of LPG), since the Russian market is currently (in) surplus." Regarding the prospects for Sibur's LPG deliveries to India in the future, the company's press service told Reuters that "Sibur is constantly evaluating all available markets and will look at the economic efficiency (of deliveries)" Sibur previously supplied LPG from Ust-Luga to India in the third quarter of 2023 after European buyers partially banned LPG purchases from Russia. In 2024, Sibur cut loadings from Ust-Luga port by 37% compared to 2023 to 570,000 tons, according to traders and LSEG. At the end of 2023, the European Union imposed an embargo on the import of Russian-origin LPG with a 12-month transition period, during which the export of propane-butane from Russia to Europe was possible under long-term contracts concluded before the introduction of sanctions. Since December 2024, the sanctions have come into full force.
CNA
03-06-2025
- Business
- CNA
Russian billionaire says replacement of SAP software is costly but essential
MOSCOW :Russian steel billionaire Alexey Mordashov said that developing a homegrown alternative to the widely-used business software made by Germany's SAP will require more time and money than anticipated but is a matter of survival. SAP, which became Europe's largest company by market capitalization this year, makes software that helps businesses manage functions from marketing and human resources to logistics and procurement. SAP provided software to Russia's largest companies, including airline carrier Aeroflot and Russian Railways, but gradually curtailed its business in response to Moscow dispatching troops to Ukraine in 2022 and stopped operations in March 2024. Steelmaker Severstal, owned by Mordashov, and petrochemicals firm Sibur have jointly sought to develop an alternative to SAP software. "We have done a lot to study this issue over the past year, but it turned out that everything is much more expensive and complicated, requiring more meticulous refinement," he said at a technology conference. "We understand the importance of this task... because we need to survive," he added. SAP held up to 60 per cent of the Russian market for business software before the Ukraine conflict, with the rest mostly divided between Microsoft and Oracle. Currently, many Russian companies are still using pre-installed SAP software but lack access to updates and support from the German company, making their systems vulnerable to failures. Mordashov's statement highlighted the difficulties experienced by Russian companies as they try to develop alternatives to Western software amid Western sanctions. Severstal and Sibur initially teamed up with domestic software maker Consist but have since exited the partnership. Severstal is now looking into solutions provided by developer Business Technologies. Other Russian companies like Russian Railways and oil firm Gazpromneft have chosen to cooperate with developer 1C, and are planning to launch a domestic alternative to SAP software in 2027.
Reuters
03-06-2025
- Business
- Reuters
Russian billionaire says replacement of SAP software is costly but essential
MOSCOW, June 3 (Reuters) - Russian steel billionaire Alexey Mordashov said that developing a homegrown alternative to the widely-used business software made by Germany's SAP will require more time and money than anticipated but is a matter of survival. SAP, which became Europe's largest company by market capitalization this year, makes software that helps businesses manage functions from marketing and human resources to logistics and procurement. SAP provided software to Russia's largest companies, including airline carrier Aeroflot and Russian Railways, but gradually curtailed its business in response to Moscow dispatching troops to Ukraine in 2022 and stopped operations in March 2024. Steelmaker Severstal, owned by Mordashov, and petrochemicals firm Sibur have jointly sought to develop an alternative to SAP software. "We have done a lot to study this issue over the past year, but it turned out that everything is much more expensive and complicated, requiring more meticulous refinement," he said at a technology conference. "We understand the importance of this task... because we need to survive," he added. SAP held up to 60% of the Russian market for business software before the Ukraine conflict, with the rest mostly divided between Microsoft and Oracle. Currently, many Russian companies are still using pre-installed SAP software but lack access to updates and support from the German company, making their systems vulnerable to failures. Mordashov's statement highlighted the difficulties experienced by Russian companies as they try to develop alternatives to Western software amid Western sanctions. Severstal and Sibur initially teamed up with domestic software maker Consist but have since exited the partnership. Severstal is now looking into solutions provided by developer Business Technologies. Other Russian companies like Russian Railways and oil firm Gazpromneft have chosen to cooperate with developer 1C, and are planning to launch a domestic alternative to SAP software in 2027.
Yahoo
13-02-2025
- Business
- Yahoo
Russia's Sibur set to restart drone-hit petchem plant in March
MOSCOW (Reuters) - Russia's largest petrochemicals company, Sibur, plans in the first half of March to resume output at a plant that was suspended last month after a Ukrainian drone attack, a source familiar with company's plans told Reuters on Thursday. The company said on January 29 that it had temporarily suspended production at its plant in the city of Kstovo, some 530 kilometres (330 miles) east of Moscow in the Nizhny Novgorod region. It said the drone attack had led debris to fall onto the plant and caused a fire. There were no casualties. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. The Sibur-Kstovo plant produces ethylene, propylene and benzene that are used in the production of items including plastic pipes, window frames and linoleum. The company does not comment on the possible timings for the resumption of operations.
Reuters
31-01-2025
- Business
- Reuters
Russia's Sibur says shipments from Kstovo plant halted after Ukrainian strike
MOSCOW, Jan 31 (Reuters) - Russian petrochemicals giant Sibur said on Friday that shipments of products from its Kstovo plant had been suspended after a Ukrainian drone strike on Wednesday. In a statement, the company said repair work at the plant near Russia's Nizhny Novgorod, about 800km (500 miles) from the Ukrainian border, would be carried out. Earlier on Friday, local authorities said they had extinguished a fire at the facility. Advertisement · Scroll to continue Report this ad Ukraine has carried out frequent air attacks on Russian refineries, oil depots and industrial sites in an attempt to cripple key infrastructure underpinning Russia's war effort.
