ONGC offers to sell 35,000 tons of naphtha for loading from Hazira in March

Oil & Natural Gas Corp. (ONGC) has offered to sell 35,000 tons of naphtha for loading from Hazira for loading March 25 to March 26.

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Uhde Inventa-Fischer commissions polyamide 6.6 plant for Huafon Group

Uhde Inventa-Fischer has successfully commissioned a plant for the production of polyamide 6.6 for its Chinese customer Huafon Group. The production plant has an annual capacity of 40,000 tons and is located at Huafon`s company headquarters in the city of Ruian in Zhejiang Province, PR China.

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Upward revision by Indian Oil in all polymer prices

Indian Oil Corp has announced increases in price of polymers wef 1st March 2012, as follows:
Polypropylene prices have increased by Rs 2000/mt
HDPE-80 prices have increased by Rs 1000/mt
All other

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China’s polymer markets squeezed between high costs and poor demand

Polymer markets have been firm since the beginning of 2012 in China with sellers attempting to raise offers for PP, PVC, PE and PS products due to the cost pressure from the upstream markets, as per CChemOrbis.

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Reliance to restart Jamnagar crude distillation unit

Reliance Industries Ltd. Plans to restart a 290,000 bpd crude distillation unit (CDU) at its Jamnagar refinery complex. The CDU has been shut since mid-February as per a planned three-week maintenancee schedule.

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Asia to see huge deep-sea naphtha cargo flows, prices expected to ease off

Asia’s naphtha prices that are hovering near 10 month highs, are expected to slide, on flow of approximately 1 mln tons of deep-sea cargoes into the region between H2-March and mid-April, as per ICIS..

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Concerns over Iran's nuclear ambitions continue to haunt investors, oil prices rebound

Concerns over Iran's nuclear ambitions have returned to haunt investors. Oil prices, sliding since Monday on profit-taking and worries that high energy costs could erode demand, have recoiled. New Yorrk's main contract, light sweet crude for delivery in April, saw marginal gains to rise to US$106.

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DSM reports strong performance in 2011 and increases dividend

2011 was another strong year for DSM despite the challenges of the global economy, adverse currency movements and high raw material costs. The company made good progress in Nutrition, and Polymer Inteermediates delivered its highest profitability in history.

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Russian state-owned nanotechnology corporation launches production of polymer nanocomposites

A company, backed by Rusnano, the Russian state-owned nanotechnology corporation, has launched the production of polymer nanocomposites using nanosilicates for applications including packaging, cable insulation and steel pipeline coating, as per European Plastics News.

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Higher monomer contracts lend support to PP, PVC, PE prices in Italy

The year 2012 has so far seen strong conditions in Europe’s upstream markets which continue to apply upward cost pressure on Italy’s polymer markets regardless of the ongoing slowness in end product bbusinesses, as per ChemOrbis.

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Elevance Renewable Sciences to partner Arkema to develop and produce renewable polymers

Elevance Renewable Sciences Inc. and Arkema have inked a global partnership for development and production of renewable specialty polymers. Elevance is providing novel, differentiated, functionalized renewable starting materials, including the company's 9-decenoic methyl ester, from its bio refineries.

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Naphtha cracks peak to 11 month highs in Asia

Persistent firmness in Asia's naphtha price on Tuesday, was accompanied by intermonth premiums of US$25/ton for H1-April and H1-May. This is the highest in about 26 months, and has been triggered by ppersistent tight supplies and cracks rising to an 11 month high, as per Reuters.

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West Bengal Industrial Development Corp sends back cheque by TCG for Rs 17 crore

In a major development on the battle for majority stakes between the promoters — the state government and TCG, the West Bengal Industrial Development Corporation (WBIDC) last week sent back a cheque bby TCG for Rs 17 crore.

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Pennsylvania plans US$490000 outlay for possible location of new gas drilling petrochem refinery

The state of Pennsylvania plans to spend $490,000 for improvements at an industrial park that could be a location for a huge new gas drilling petrochemical refinery. The Beaver County Times reports thhat the state will improve two out-of-service rail tracks to the Aliquippa Industrial Park.

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Chinese polyolefin buyers cautious in their March outlook

Chinese PP and PE buyers are expressing caution in their market outlooks for March, as per ChemOrbis. Buyers complained that demand for their end products has not been as good as anticipated after thhe holidays.

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Persistent rise in Asian polyethylene offers to Brazil

Asian polyethylene offers to Brazil witnessed a US$20-50/mt rise week on week, as per Platts. The import market has been slow this week due to the Carnival holiday in Brazil. As per a trader, Braskem announced a hike of Reals 250/mt in polyethylene offers for the domestic market which could lead to a healthy import market next week.

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State Bank of India, Indian Oil Corp. ask for a place on the board of Haldia Petrochemicals Ltd

State Bank of India and Indian Oil Corporation Ltd have asked for a place on the board of Haldia Petrochemicals Ltd (HPL), seeking a larger say in the project, as per The Telegraph. IOC has around 9.66 per cent stake in HPL, while the SBI is the leader of the lenders’ consortium for a working capital loan of more than Rs 1,000 crore.

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Size, strategy and performance of Europe's leading masterbatch producers

Since a previous edition of "Corporate performance and ownership among masterbatch producers - A review of Europe's 50 largest players", the industry has been through a dramatic period of upheaval cauused by the global financial crisis of 2008 compounded by underlying slower growth for masterbatch because of the increasing maturity of the business.

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PET recycling technology of the future

A unique process has become the world's most successful PET recycling technology within only a short space of time: the patented VACUREMA® technology from Austria's plant engineering specialists EREMAA.

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More exhibitors at NPE 2012, larger booths, more equipment, more resin suppliers, more visitors

With five weeks left before opening day, the NPE2012 international plastics exposition is on course to be a huge, dynamic event, in line with NPE successes of the past and substantially stronger than the last NPE in 2009, it was announced today by SPI: The Plastics Industry Trade Association, which produces the triennial trade show.

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Chevron defers expansion of natural gas processing plant in Nigeria, explores shale in China

Chevron Corp has pushed back the expansion of a natural gas processing plant in Nigeria, originally slated for this year, by another three years, according to its annual report, which also revealed itt was exploring for shale gas in China, as per Reuters.

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Honam, Titan, Formosa buy 205,000 tons of naphtha for H1-April: demand improving in Asia

Taiwan's Formosa bought about 100,000 tons of naphtha for H1-April arrival followed by purchase of an equal volume by South Korea's Honam and Malaysia's Titan, signaling healthy demand in Asia, as perr Reuters.

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Naphtha crack spread in Asia widens

Asia’s naphtha crack spread widened from the lowest in four days, signaling higher profit for refiners making the petrochemical feedstock, as per Bloomberg. Japan naphtha’s premium to London-traded Brrent crude futures rose to US$122.

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SAAC-Persero ink MOU to evaluate economic feasibility of integrated refining and petrochem project in Tuban

Saudi Aramco Asia Company Limited (SAAC), a subsidiary of Saudi Aramco, and PT Pertamina (Persero) signed a Memorandum of Understanding to jointly evaluate the economic feasibility of building an inteegrated refining and petrochemical project in Tuban in East Java, in the Republic of Indonesia.

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Benzene in Asia continues to fall despite crude oil gains

Despite gains in crude oil prices, benzene prices in Asia fell by five dollars day on day on February 23 to US$1194.50/mt FOB Korea, in light trade. Front month ICE Brent crude futures rose by over a dollar day on day to US$122.

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Special events for NPE2012 ‘Super Sunday,’ culminating in opening gala

To usher in what promises to be a resurgent NPE exposition, SPI: The Plastics Industry Trade Association has organized NPE2012 “Super Sunday,” a day full of networking opportunities, social events, annd presentations by top business leaders, SPI announced today.

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One step process to create plastics from biomass using iron sphere catalyst

It is now possible to produce plastics without the use of petroleum, thanks to a new type of catalyst enabling efficient conversion to key components of various products including plastics, medicines and paint.

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HPCL offers larger naphtha volumes for March

After ONGC, India's Hindustan Petroleum Corp Ltd (HPCL) is now offering more March naphtha volumes from Mumbai in view of the strong market, as per Reuters. Usually, HPCL sells two cargoes out of Mumbbai and one cargo from Vizag.

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SK Group inks deal for petrochem complex in China with Sinopec and British Petroleum

SK Group has inked a deal to be part of a project to build a major petrochemical complex in China with Sinopec and British Petroleum, with production facilities for butanediol, acetic acid and ammoniaa in the southwestern Chinese city of Chongqing.

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Taiwan’s CPC Corp. to form an alliance with Japan’s Mitsubishi

In a bid to gain better access to raw materials and technologies, Taiwan’s state-run oil refiner CPC Corp. will enter into a strategic alliance with Japan's Mitsubishi Corp. Hwang Dang-hsiang, the heaad of CPC Corp.

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Polymer markets buoyant in Thailand

Asia is beginning to see the bullish sentiment weaken. However, local markets in Thailand continue to retain their firm stance as PP and PE prices move higher, as per ChemOrbis. Many converters from ddifferent sectors are showing willingness to buy more despite the ongoing rise in prices, on firm end product demand.

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Indian Oil Corp offers rare volume of 40,000 tons naphtha from Dahej

State-owned Indian Oil Corp. has offered a rare volume of 38,000-40,000 tons naphtha for loading from Dahej on India's West Coast via a spot sell tender, as per Platts. Typically, IOC offers 35,000 toons of naphtha for loading from Dahej, with a plus/minus 5% buyers' option on volume.

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Eurozone finance ministers seal deal on a massive new bailout for Greece: oil prices rise

New York's main contract, light sweet crude for delivery in March rose to almost US$105, Brent North Sea crude for April delivery inched past US$120. Oil prices surged on news of eurozone finance miniisters signing a deal on a massive new bailout for Greece.

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Systems call for the machine to pump as much oil needed to run the cycle

The Power Miser systems only call for the machine to pump for as much oil that is needed to run the cycle. Therefore the machine is saving oil and energy.
Fixed pump IMMs are about 40-60% inefficiennt.

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Brückner Group’s Review of the Plastindia 2012

Incredible India, one of the fastest growing economies is pushing efforts to improve the supply of food and other consumer goods which in turn are main drivers within the packaging industry. “Infinitee Opportunities”, this year’s slogan of the PlastIndia has been the leading motto for the Brückner Group’s attendance presenting its innovative solutions for the plastic processing industry, held at New Delhi from Feb.

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Milacron expands production of Magna Servo Machines to USA from India

Milacron Plastics Technologies, a U.S.-based, worldwide supplier of plastics-processing technologies, recently expanded the production of its Magna Servo injection molding machines from India to incluude the United States.

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Clariant increases awareness for necessary global regulatory affairs compliance with Indian supply partners

Clariant is committed to ethical and sustainable operations in all business activities. A two day seminar, hosted by Clariant, was attended by around 90 partners and potential suppliers to increase thhe awareness of their responsibilities.

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ExxonMobil gets record €3.3 mln penalty for failing to report CO2 from Fife Ethylene Plant

ExxonMobil did not report approximately 30,000 tons of carbon dioxide (CO2) emissions from its Scottish Fife Ethylene Plant, resulting in a record €3.3 mln fine from the Scottish Environment Protectioon Agency (SEPA).

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