Shell Chemicals scouts for partners for new SMPO unit in Singapore

Shell Chemicals is seeking potential partners for a US$500 mln styrene monomer/propylene oxide (SMPO) facility planned in Singapore. The project has healthy prospects as robust demand is projected forr SMPO, which are chemicals used in the production of polystyrene containers and rubber soles.

For more details on Shell Chemicals scouts for partners for new SMPO unit in Singapore click here

Shell Chemicals scouts for partners for new SMPO unit in Singapore

Shell Chemicals is seeking potential partners for a US$500 mln styrene monomer/propylene oxide (SMPO) facility planned in Singapore. The project has healthy prospects as robust demand is projected forr SMPO, which are chemicals used in the production of polystyrene containers and rubber soles.

For more details on Shell Chemicals scouts for partners for new SMPO unit in Singapore click here

Asahi Kasei to reduce operating rate at 443,000 tpa ethylene plant

Asahi Kasei Corp has decided to bring down operating rate at a 443,000 tpa ethylene plant in western Japan to 95%, early next month. Record high crude prices have led to diminishing margins, increasinng costs that the company has been unable to pass downstream.

For more details on Asahi Kasei to reduce operating rate at 443,000 tpa ethylene plant click here

LyondellBasell subsidiary to halt LDPE production at Pasadena by year end

A LyondellBasell subsidiary - Equistar Chemicals, LP will halt production of low density polyethylene (LDPE) at its Pasadena, Texas, by the end of the year. Production will shift from the tubular proccess unit to other site, after an extensive review, that the unit was no longer financially viable.

For more details on LyondellBasell subsidiary to halt LDPE production at Pasadena by year end click here

Trends in the European market for plastic closures

According to a new report just published by leading industry consultants, Applied Market Information Ltd (AMI), nearly 217 billion plastic caps and closures were produced in Europe last year in a busiiness worth EUR 1.

For more details on Trends in the European market for plastic closures click here

LyondellBasell announces PE prices in Europe

Rising feedstock and energy costs that have been been eating into the company's bottom line since the beginning of the year, have forced LyondellBasell to consider a polymer price hike. With effect frrom July 1, 2008, LyondellBasell Industries has planned a E 200/ton price increase ion all of its polyethylene grades in Europe.

For more details on LyondellBasell announces PE prices in Europe click here

Construction on track at Borouge-2 :scheduled to be completed in 2010

Construction activities are in full swing at the site of Borouge-2 being developed by Abu Dhabi Polymer Company (Borouge). The polyethylene plant is being constructed at a development cost of US$4.84 bln in Ruwais, and is scheduled for completion in Q1-2010.

For more details on Construction on track at Borouge-2 :scheduled to be completed in 2010 click here

Indian Oil prepares to commence Paradip refinery work

Escalating project costs during the last two years, have forced IOC to change its original plan of setting up an integrated-refining-cum petrochemicals complex at Paradip at a cost of Rs 25,000 crore..

For more details on Indian Oil prepares to commence Paradip refinery work click here

BEM Recycling Process to reduce wastage in plastic resin production

In a bid to continue its aggressive focus on sustainable business practices, Albemarle Corporation plans to invest in a new process that is expected to eliminate more than 80% of the process-related waste at it's main organometallics plant, located in Pasadena, Texas, USA.

For more details on BEM Recycling Process to reduce wastage in plastic resin production click here

Shell foresees long term future for styrene and derivatives in Asia Pacific

Shell foresees a long term future for styrene and derivatives in Asia Pacific, attributed to a very challenging and competitive market. If benzene prices weaken as supply increases, the region is preddicted to see a shift in value towards styrene and its derivatives.

For more details on Shell foresees long term future for styrene and derivatives in Asia Pacific click here

World longest ethylene line under construction in Iran

Iran's Oil Minister has announced that the world's longest ethylene line is currently under construction in Iran. The 2,400 km line will begin from Assalouyeh in southern Iran to Orumiyeh in northwestt country.

For more details on World longest ethylene line under construction in Iran click here

Oil prices dip marginally after surging to peaks of US$140

Oil prices have dipped marginally after hitting all time highs of US$140 per barrel. The latest price surge can be attributed to a forecast by OPEC president that prices could soon surge as high as USS$170 a barrel.

For more details on Oil prices dip marginally after surging to peaks of US$140 click here

Saudi Aramco and Total to create Jubail Refining and Petrochemical Co. in Q3-08

Saudi Aramco and Total SA have decided to create the Jubail Refining and Petrochemical Co. during Q3-2008 to develop a 400,000 bpd world-class refinery in Jubail, Saudi Arabia. The refinery is schedulled to start operations by end of 2012.

For more details on Saudi Aramco and Total to create Jubail Refining and Petrochemical Co. in Q3-08 click here

Huntsman to sue buyer Apollo Management and partners for fraud

Huntsman Corporation is to sue Apollo Management and its two partners for fraud, seeking a jury trial for damages exceeding US$3 bln, plus additional punitive damages. This decision has been taken by Huntsman after the private equity group backed out of a deal to buy Huntsman for US$6.

For more details on Huntsman to sue buyer Apollo Management and partners for fraud click here

New Long-Lasting, Compromise-Resistant Electronic ID Cards

Identity theft, border security, and other threats are expanding the use of electronic identity cards that can resist compromise, last for up to 10 years, and incorporate a variety of sophisticated grraphic technologies, such as laser marking.

For more details on New Long-Lasting, Compromise-Resistant Electronic ID Cards click here

New material aids higher-precision gap management for automotive body panels while reducing overall vehicle weight

In a bid to counter rising steel prices, SABIC Innovative has introduced Noryl GTX resin that delivers 25% lower coefficient of thermal expansion (CTE) than previous grades, enabling higher-precision gap management for automotive body panels, at the same time helping to reduce overall vehicle weight.

For more details on New material aids higher-precision gap management for automotive body panels while reducing overall vehicle weight click here

New material aids higher-precision gap management for automotive body panels while reducing overall vehicle weight

In a bid to counter rising steel prices, SABIC Innovative has introduced Noryl GTX resin that delivers 25% lower coefficient of thermal expansion (CTE) than previous grades, enabling higher-precision gap management for automotive body panels, at the same time helping to reduce overall vehicle weight.

For more details on New material aids higher-precision gap management for automotive body panels while reducing overall vehicle weight click here

Borouge helps secure fresh water to every house in Malkapur

Through their Water for the World™ initiative, Borouge and Borealis, leading providers of innovative, value creating plastics solutions, are helping the State of Maharashtra in India to supply drinkinng water 24 hours per day, seven days a week to the residents of Malkapur village, 400km south of Mumbai.

For more details on Borouge helps secure fresh water to every house in Malkapur click here

Global market for Glass Mat Thermoplastics to grow at 7% during the next 5 years

The global GMT market is expected to grow at an estimated 7.0% compound annual growth rate (CAGR) during the next five years (2008-2013). In 2013, total global GMT material market is estimated to reacch over one half billion dollars according to Lucintel.

For more details on Global market for Glass Mat Thermoplastics to grow at 7% during the next 5 years click here

Kuokuang board approves relocation of petrochemical project to Central Taiwan

The board of directors of Kuokuang Petrochemical Co. Ltd. has resolved to relocate its mega petrochemical project from Yunlin offshore industrial zone. Due to the environmental cause which has stalledd the project for five years, the project will now shift base to Tacheng Township of Changhua County, central Taiwan.

For more details on Kuokuang board approves relocation of petrochemical project to Central Taiwan click here

Oil Refineries board approves acquisition of 50% stake in Carmel Olefins

The board of directors of Oil Refineries' has approved a deal to buy a 50% stake (516 mln shares) in Carmel Olefins currently held by Israel Petrochemical Enterprises. The deal will be done through a stock swap.

For more details on Oil Refineries board approves acquisition of 50% stake in Carmel Olefins click here

Taiwan mulls mutual waiver of tariffs on petrochemicals with China

Taiwan plans to discuss a mutual waiver of tariffs on petrochemicals and chemical fibres with China. China currently imposes a minimum tariff of 6.5% on petrochemical imports.
As per a report, 40% oof Taiwan's petrochemical products are exported, of which the country exports almost 80% to China.

For more details on Taiwan mulls mutual waiver of tariffs on petrochemicals with China click here

Chevron Phillips to raise SBC prices by EUR 250/ton in Europe

With effect from July 1, 2008, Chevron Phillips Chemicals International plans to increase price of all grades of K-Resin styrene block copolymers (SBC) in Europe by EUR 250/ton. The company had earlieer increased SBC prices in Europe by EUR 30/ton on 15 May 2008.

For more details on Chevron Phillips to raise SBC prices by EUR 250/ton in Europe click here

SABIC to invest £35 mln in 12 months to increase output at Wilton Olefins 6 Unit

SABIC plans to invest £35 mln over the next 12 months to make improvements to the Wilton Cracker complex to increase output of ethylene and propylene via 'Project Lift-Of."
The overhaul will start onn 7 May, with some significant flaring around as the contents of a plant must be safely flared off prior to the major maintenance work and safety inspections starting.

For more details on SABIC to invest £35 mln in 12 months to increase output at Wilton Olefins 6 Unit click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of June 23, 2008

CRUDE OIL
Crude oil prices dipped marginally to US$132 a barrel in a week full of ups and downs. US inventory levels dropped for the week, but had very marginal impact on prices.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week of June 23, 2008 click here

Dow and Davy License LP OxoSM Technology to plant in Shangdong Province

LP OxoSM SELECTORSM Technology, jointly offered by Dow Technology Licensing and Davy Process Technology Ltd., has been selected by Lihuayi Group for a new 250,000 tpa facility in People's Republic of China.

For more details on Dow and Davy License LP OxoSM Technology to plant in Shangdong Province click here

OPEC sees no reason to hike output : blames high oil prices on USA

OPEC President has stated that the oil producing cartel sees no reason to raise output, as the level of oil being pumped is enough to satisfy global demand, and current levels of stock and capacity exxceed requirement.

For more details on OPEC sees no reason to hike output : blames high oil prices on USA click here

Liquified carbon dioxide leaks in Yeosu complex

Almost 30 tons of liquefied carbon dioxide gas has leaked in South Korea's major petrochemical complex in Yeosu, enveloping the entire complex in smoke. However, no casualties have been reported and ooperations at the plant have also not been affected.

For more details on Liquified carbon dioxide leaks in Yeosu complex click here

Honam Petro seeks to merge with Lotte Daesan

In a bid to boost cost competitiveness and create synergy, Honam Petrochemical is pressing for a merger with its unit Lotte Daesan Petrochemical Corp. The procedures for the merger will commence in thhe second half of the year.

For more details on Honam Petro seeks to merge with Lotte Daesan click here

PetroChina, QPI and Shell ink deal for refinery and petrochem project in China

Qatar, Royal Dutch Shell and PetroChina have inked a dela to build a refining and petrochemical complex as well as a sales unit in China. PetroChina will hold 51% stake, while Shell and Qatar will eacch hold 24.

For more details on PetroChina, QPI and Shell ink deal for refinery and petrochem project in China click here

8 South Korean oil firms fined for conspiracy to fix prices

South Korea's anti-trust watchdog has fined 8 petrochemical companies a combined 12.73 bln won (US$12.4 mln) for conspiring price fixing of six primary and intermediate petrochemicals between October 2000 and September 2004.

For more details on 8 South Korean oil firms fined for conspiracy to fix prices click here

165,000 tpa methanol plant planned by Assam Petrochemicals

Assam Petrochemicals Ltd. plans to set up a 165,000 tpa methanol plant at Namrup at an investment outlay of US$125 mln. APL is currently in talks with Oil and Natural Gas Corporation (ONGC) and Oil Inndia Limited (OIL) for supply of natural gas as feedstock for the project.

For more details on 165,000 tpa methanol plant planned by Assam Petrochemicals click here

GMR to acquire 51% stake in Kakinada Refinery as ONGC decides to exit

Oil and Natural Gas Corporation (ONGC) has decided to exit from the proposed Rs 25,000 crore refinery and petrochemical complex at Kakinada in Andhra Pradesh, terming it as an unviable venture. Leadinng infrastructure and power giant GMR is likely to pick up the 51% stake in the refinery.

For more details on GMR to acquire 51% stake in Kakinada Refinery as ONGC decides to exit click here

DSM Composite Resins commences study, mulls investment in capacity increase in France

DSM Composite Resins has embarked upon an extensive engineering study that could lead to an expansion at its manufacturing facilities in Compiègne, France. Capacity is being planned to be increased byy up to 20,000 tpa, as the company continues increasing its focus on innovation and specialty products.

For more details on DSM Composite Resins commences study, mulls investment in capacity increase in France click here

Strong Growth in the Polypropylene Market

Polypropylene (PP) is increasingly being used as a substitute for other, relatively expensive plastics. Despite rising prices, the strong demand from the packing and automotive industries, as well as from other growing sectors, such as the construction industry, has led to a continuous increase in the consumption of PP.

For more details on Strong Growth in the Polypropylene Market click here

SASB in talks to conduct R&D on kenaf polymer, mulls production facility

Malaysia's Symphony Advance Sdn Bhd (SASB) has begun discussions with Sirim and Mardi to conduct research and development on kenaf polymer. Subject to the results of the R&D, SABS plans to establish aa production facility in the East Coast Economic Region (ECER), possibly in Terengganu.

For more details on SASB in talks to conduct R&D on kenaf polymer, mulls production facility click here

China's packaging market predicted to grow to €75 bln pa by 2012

China's packaging market is the largest in the world and is predicted to grow to €75 bln pa by 2012, according to Edge, the packaging consultancy arm of STFI-Packforsk. The report estimates that by 20012 the packaged foods market will total 119.

For more details on China's packaging market predicted to grow to €75 bln pa by 2012 click here

Saudi Aramco and Total sign agreement to establish Jubail Refining and Petrochemical Company

The Saudi Arabian Oil Company (Saudi Aramco) and Total have signed the Shareholders Agreement and other core agreements for the establishment of their joint venture, the Jubail Refining and Petrochemiical Company : a 400,000 bpd world-class, full-conversion refinery.

For more details on Saudi Aramco and Total sign agreement to establish Jubail Refining and Petrochemical Company click here

GMR group likely to partner ONGC in Rs 31000 crore refinery in Kakinada

Bangalore-based GMR group is likely to partner Oil and Natural Gas Corporation (ONGC) in its Rs 31000 crore refinery and petrochemical plant in Kakinada. GMR group joins the list of prospective partneers along with the Hinduja group, Reliance Industries and Essar Oil.

For more details on GMR group likely to partner ONGC in Rs 31000 crore refinery in Kakinada click here

Sinopec Maoming ethylene facility resumes production

Sinopec's Maoming city ethylene plant has returned to full production after being shut for over two weeks. The shutdown was caused by a fire that occurred at the plant on June 3 due to a lightning strrike.

For more details on Sinopec Maoming ethylene facility resumes production click here

Plans to submit proposal to block cuts in import duty on polyolefins supplied from MFNs in Indonesia

Players in Indonesia's polypropylene (PP) industry plans to submit a proposal to the government to help block cuts in import duty on polyolefins supplied from Most Favoured Nations (MFNs). Under its WWorld Trade Organisation membership obligations, Indonesia is bound to reduce the import duty in January, on PP and polyethylene (PE) imported from the MFNs to 7.

For more details on Plans to submit proposal to block cuts in import duty on polyolefins supplied from MFNs in Indonesia click here

Mexichem inks deal to source VCM from Occidental

Latin America's largest maker of plastic pipes Mexichem SAB has signed a deal worth more than US$2 bln with a unit of Occidental Petroleum Corp. As per this deal, Occidental Chemical Corp. will supplyy vinyl chloride monomer (VCM) used to make polyvinyl chloride, (PVC) for five years.

For more details on Mexichem inks deal to source VCM from Occidental click here

CP to jointly invest 2 bln baht with Nature Works to expand bioplastics business in Thailand

The Charoen Pokphand (CP) Group is exploring the prospect of jointly investing 2 bln baht with its US partner Nature Works to expand its bioplastics business in Thailand. Nature Works will provide tecchnology to produce corn-based PLA while CP has expertise in farm crops that would be used as raw materials.

For more details on CP to jointly invest 2 bln baht with Nature Works to expand bioplastics business in Thailand click here

Truckers strike causes South Korea to lose US$5.92 bln in trade in a week

South Korea has lost US$5.92 bln in trade in a week (from June 12-17) due to a strike by truck drivers - US$2.89 bln worth of exports and US$3.03 bln worth of imports This amounts to 1% of the value oof South Korea's total trade last month.

For more details on Truckers strike causes South Korea to lose US$5.92 bln in trade in a week click here

Iran to invets US$109 mln on infrastructure in Bandar Imam

A plan to allocate 982,321 mln rials (US$109 mln) for developing infrastructure in the Bandar Imam has been approved in Iran. The plan aims at benefiting from optimum domestic technical, engineering, and executive capacities in implementing projects in the water and energy sector.

For more details on Iran to invets US$109 mln on infrastructure in Bandar Imam click here

Despite sharp increase in construction costs, Ipic to go ahead with 3 planned refineries

As part of its intensified investment drive in refining and petrochemicals International Petroleum Investment Company (Ipic) plans to go ahead with construction of a major grassroots refinery in Fujaairah and two other in Morocco and Pakistan, depite a sharp rise in capital requirement because of high construction costs.

For more details on Despite sharp increase in construction costs, Ipic to go ahead with 3 planned refineries click here

Groundbreaking ceremony at DuPont's™ Kevlar® plant in South Carolina

A groundbreaking ceremony took place at the site of DuPont's™ Kevlar® plant at Cooper River site in South Carolina. The new plant will manufacture high-performance Kevlar® fiber for industrial and millitary use and is scheduled to open in 2010.

For more details on Groundbreaking ceremony at DuPont's™ Kevlar® plant in South Carolina click here

Products made from Cereplast Compostables® resins meet new federal guidelines

Products made from Cereplast Compostables® resins meet new federal procurement guidelines for bio-based content enacted June 13 by the United States Department of Agriculture. All companies using Cereeplast Compostables® resins can be listed on the USDA BioPreferred web site.

For more details on Products made from Cereplast Compostables® resins meet new federal guidelines click here

Emerson Technology to increase capacity at SE Asia's largest aromatics plant

Emerson Process Management has been shortlisted by the PTT Aromatics and Refining Public Company Limited (PTTAR) and its principal construction contractors to provide state-of-the-art digital technoloogy for an aromatics plant under construction in Rayong Province, Thailand.

For more details on Emerson Technology to increase capacity at SE Asia's largest aromatics plant click here

Emerson Technology to increase capacity at SE Asia's largest aromatics plant

Emerson Process Management has been shortlisted by the PTT Aromatics and Refining Public Company Limited (PTTAR) and its principal construction contractors to provide state-of-the-art digital technoloogy for an aromatics plant under construction in Rayong Province, Thailand.

For more details on Emerson Technology to increase capacity at SE Asia's largest aromatics plant click here

Bayer concludes deal to secure feedstock supply for Makrolon

BAYER MaterialScience AG has concluded an agreement with Spanish manufacturer Ertisa S.A. (a subsidiary of the CEPSA Group), for the supply of phenol and acetone in the Europe and Asia regions. Phenoll and acetone are used to produce bisphenol A, a base product for the high-tech plastic Makrolon®.

For more details on Bayer concludes deal to secure feedstock supply for Makrolon click here

Shareholders approve Barito's bid to sell bonds to acquire stake in Tri Polyta

PT Barito Pacific, Indonesia's publicly listed ethylene maker has won approval from shareholders to sell US$200 million in bonds to its parent company. After the sales of the three-year bonds to Magnaa Resources, the proceeds will be used to acquire 75.

For more details on Shareholders approve Barito's bid to sell bonds to acquire stake in Tri Polyta click here

Oil prices gain slightly after falling by $5

News that China plans to raise prices for gasoline by 16% and diesel fuel by 18%, in a move to ease global demand saw oil prices drop by almost five dollars. Crude oil futures dipped to US$131.93 a baarrel on the New York Mercantile Exchange after China disclosed its plans.

For more details on Oil prices gain slightly after falling by $5 click here

250,000 ton acrylic acid and related esters plant planned in Jubail

Saudi Arabia plans to set up a 250,000 metric ton capacity acrylic acid and related esters plant - the first of its kind in the Middle East. An investment outlay of SR2.6 bln is planned in The Saudi AAcrylic Monomers Company, to be a joint-venture that will commence operation in 2011.

For more details on 250,000 ton acrylic acid and related esters plant planned in Jubail click here

Ecuador, Venezuela to commence construction of refinery and petrochem complex in Manabi

State run oil companies of Ecuador and Venezuela will commence construction on Refineria del Pacifico-CEM- a new 300,000 bpd refinery and petrochemical complex in Manabi, very shortly. Petroecuador wiill hold 51% stake in the project and Petroleos de Venezuela will hold the balance stake.

For more details on Ecuador, Venezuela to commence construction of refinery and petrochem complex in Manabi click here

New technology platform for light weight vehicle armor

Continuous Innovation from DSM helps to meet growing demand for protection that defeats the most dangerous and emerging threats. DSM Dyneema has announced its new technology platform that will extendd the material choice for vehicle protection of the future.

For more details on New technology platform for light weight vehicle armor click here

Lexan* Thermoclear* glazing used for stadium roofs for UEFA Euro 2008™

With less than a day before the start of the 2008 UEFA European Football Championship (Euro 2008™), the largest football event in the world following the World Cup, Europe's stadiums are set to host tthousands of eager fans.

For more details on Lexan* Thermoclear* glazing used for stadium roofs for UEFA Euro 2008™ click here

Ashmore files tender offer for balance stake in Petron

London based Ashmore, that bid for 40% stake of Aramco Overseas Co. B.V. (Saudi Aramco) in Petron Corp. has filed a tender offer for acquiring the balance stake in the oil company, through wholly owneed subsidiary SEA Refinery Holdings B.

For more details on Ashmore files tender offer for balance stake in Petron click here

Conference on cutting edge polymer foam technology to be held in China

Applied Market Information Ltd is pleased to announce the programme for the international conference Polymer Foam 2008, with presentations on innovations in technology and applications. The conferencce will take place from 11-13 November 2008 at the InterContinental Pudong Hotel, Shanghai, China.

For more details on Conference on cutting edge polymer foam technology to be held in China click here

Samsung Total halts PP production at Daesan

Polypropylene production has been suspended by South Korea's Samsung Total Petrochemical. A technical snag was responsible for shuttering of the plant in Daesan, scheduled to restart on Friday.

For more details on Samsung Total halts PP production at Daesan click here

SABIC plans expansion of Chinese petrochem JV with ethylene complex

Saudi Basic Industries Corp (SABIC) plans to expand its petrochemical joint venture with Sinopec Corp. with a new integrated ethylene complex. The agreement between the two partners is expected to be signed in the Saudi capital during Chinese Vice President's first state visit to the Kingdom.

For more details on SABIC plans expansion of Chinese petrochem JV with ethylene complex click here

Dow's 580,000 ton ethylene cracker commences production, ends force majeure

Dow had announced a Force Majeure on ethylene supplies from the Terneuzen N2 cracker in Netherlands on June 2, after a mechanical break down on June 1 brought production to a halt.
After repairs, thhe of 580,000 tpa ethylene cracker has been brought back into operation.

For more details on Dow's 580,000 ton ethylene cracker commences production, ends force majeure click here

Gulf petrochemicals industry could face a decline in a couple of years

The Gulf petrochemical industry is in danger of facing a downturn in the next two to three years. Most Chinese and Middle East petrochemical projects will get commissioned at the same by 2010, leadingg to a glut of ethylene and polyethylene products in the global market.

For more details on Gulf petrochemicals industry could face a decline in a couple of years click here

Sinopec's Maoming resumes ethylene production at 40% capacity at plant No 2

Sinopec's Maoming refinery has resumed ethylene production at 40% of capacity. The 640,000 tpa ethylene facility has been shut for two weeks due to a fire indirectly caused by lightning shocks. A smalller ethylene unit with 380,000 tpa capacity restarted two days after the fire on June 3.

For more details on Sinopec's Maoming resumes ethylene production at 40% capacity at plant No 2 click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 16, 2008

CRUDE OIL
From last weeks' record high prices exceeding US$138, oil prices fell to US$135 per barrel in New York in the week of June 16, 2008. Easing oof supply concerns has helped oil prices dip to US$134 per barrel in Asia.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 16, 2008 click here

Oil prices plunge after spiking to all-time high of US$139.89

World oil prices plunged to US$134 from all-time highs of US$140 amid uncertainty over Saudi Arabia's pledge to increase production output. Saudi Arabia was reported to be planning an oil output increease by 200,000 bpd in July.

For more details on Oil prices plunge after spiking to all-time high of US$139.89 click here

Reliance seeks US$1 bln loan for expansion

Reliance Industries is seeking to borrow US$1 bln to fund its expansion projects. The company could hire banks to arrange the 5 year loan. Construction is underway by Reliance at an oil refinery in thhe state of Gujarat for the world's biggest such complex.

For more details on Reliance seeks US$1 bln loan for expansion click here

Korean petrochemical industry to be affected as ports paralysed due to truckers' strike

Korean ports across the nation were immobilized as the truckers' strike over high fuel prices enters its fourth day. More and more firms are giving up on export as inventory levels pile up. In fact, sseveral small and medium-sized businesses have suspended production.

For more details on Korean petrochemical industry to be affected as ports paralysed due to truckers' strike click here

World's biggest olefin complex to be unveiled by Iranian President

Jam Petrochemical Complex, world's biggest olefin complex and Farsa-Shimi complex will be officially inaugurated on 17 June in Asaluyeh. Jam Petrochemical unit has an annual production of 3.3 mln tonss of ethylene, propylene, HDPE, LLDPE and other by-products.

For more details on World's biggest olefin complex to be unveiled by Iranian President click here

Chiyoda mulls partnership with SOCAR for petchem projects in Azerbaijan

Japan's Chiyoda Corp. plans to partner Azerbaijan's state energy firm SOCAR in the construction of petrochemical plants in the ex-Soviet state and in neighbouring Turkey. SOCAR is currently evaluatingg the Japanese firm's offer.

For more details on Chiyoda mulls partnership with SOCAR for petchem projects in Azerbaijan click here

Sipchem shelves plans of 1.3 mln tpa cracker project at Al-Jubail

Major challenges on costs, schedule, availability of qualified contractors and financing faced by Saudi International Petrochemical Co (Sipchem) has forced the company to abandoned plans for a 1.3 mlnn tpa cracker project at Al-Jubail, Saudi Arabia.

For more details on Sipchem shelves plans of 1.3 mln tpa cracker project at Al-Jubail click here

Federal government grants approval to Keltic Petrochemicals

After an extensive review by all levels of government and the public, the federal government has granted approval to Keltic Petrochemicals Inc. (Keltic) to proceed with the C$4.5 billion integrated peetrochemical project planned for Goldboro, Nova Scotia.

For more details on Federal government grants approval to Keltic Petrochemicals click here

Petro Rabigh selects Honeywell Solutions to enhance efficiency and performance

Honeywell has been awarded a contract to install and implement an integrated advanced planning and scheduling solution for Rabigh Refining & Petrochemicals Co.'s Petro Rabigh facility to enhance efficciency and improve performance.

For more details on Petro Rabigh selects Honeywell Solutions to enhance efficiency and performance click here

Production starts at Lotte Daesan MEG plant with Shell's OMEGA process technology

Production has commenced at Lotte Daesan's 400,000 tpa MEG facility in Korea on 21 May using new Shell OMEGA (Only Mono-Ethylene Glycol Advanced) process technology. This process uses catalytic converrsion of ethylene oxide to monoethylene glycol (MEG) as opposed to the traditional thermal conversion approach.

For more details on Production starts at Lotte Daesan MEG plant with Shell's OMEGA process technology click here

Oil dips to US$134 after Saudi Arabia announced plan to hike output

Easing of supply concerns has helped oil prices dip to US$134 per barrel in Asia. Supply concerns eased after Saudi Arabia announced plans to boost production and OPEC questioned whether crude prices can remain so high.

For more details on Oil dips to US$134 after Saudi Arabia announced plan to hike output click here

Bioplastic from non food-based cellulosic biomass

A project planned to develop a bioplastic from non-food-based cellulosic biomass afor use in vehicles by 2013 is being planned in Japan. Mazda Motor Corporation has signed a collaborative research agrreement with Hiroshima University to launch the Mazda Bioplastic Product.

For more details on Bioplastic from non food-based cellulosic biomass click here

Qatar bank to study plan to raise funds for US$5bln Malaysian refinery and petrochemicals project

Qatar Islamic Bank plans to study a plan to raise funds for a US$5 bln refinery and petrochemicals project in Malaysia, under an initial agreement signed with a Malaysian unit of Gulf Petroleum Ltd. TThe bank will study and eventually lead a consortium of banks and financial institutions to arrange funding for both financing and equity elements of the project.

For more details on Qatar bank to study plan to raise funds for US$5bln Malaysian refinery and petrochemicals project click here

Qapco shortlists prequalifying bidders LDPE plant

Qatar Petrochemical Company (Qapco) is in the process of shortlisting prequalifying bidders for its 250,000 tpa low-density polyethylene (LDPE) plant, known as LDPE-3. Plant capacity will be scalable upto 300,000 tpa.

For more details on Qapco shortlists prequalifying bidders LDPE plant click here

BASF announces polystyrene price hike in Europe

BASF has announced a price hike of €100/ton for Polystyrene in Europe, with effect from June 1, 2008. This price hike can be attributed to sharp increase in feedstock styrene costs in recent months. IIn the past weeks, styrene prices have peaked to historical highs.

For more details on BASF announces polystyrene price hike in Europe click here

Dow's MABS technology selected by LiaoNing HuaJin Chemical

Dow Technology Licensing, a business unit of The Dow Chemical Company, announced today that LiaoNing HuaJin Chemical has selected Dow's MABS Technology for its new 140 KTA acrylonitrile butadiene styrrene (ABS) facility.

For more details on Dow's MABS technology selected by LiaoNing HuaJin Chemical click here

SK Energy and Sinopec JV to set up naphta cracker in Central China

SK Energy Co, plans to tie up with China Petroleum and Chemical Corp (SINOPEC) to build a naphtha-cracking centre in Wuhan, Hubei Province, Central China. The two companies have signed a preliminary aagreement for the project, estimated to cost US$2 bln.

For more details on SK Energy and Sinopec JV to set up naphta cracker in Central China click here

Maire Tecnimont and GS Engg awarded US$900 mln order by Russia's Taneco

Italian engineering group Maire Tecnimont SpA and South Korea's GS Engineering & Construction have signed a joint US$900 mln contract to build an oil refinery plant in Russia. The two have been awardeed the contract by Taneco, a unit of Russian oil firm Tatneft.

For more details on Maire Tecnimont and GS Engg awarded US$900 mln order by Russia's Taneco click here

Quattor to account for 40% of PE and PP production in Brazil

Quattor - Brazil's youngest petrochemicals joint venture project has been planned to have installed capacity of 2.8 mln tpa of basic and intermediary petrochemical products and 1.9 mln tpa of resins. Quattor, to come onstream by year-end is a merger of petrochemicals groups Riopol, Suzano Petroquímica, Petroquímica União, Unipar and Polietilenos União.

For more details on Quattor to account for 40% of PE and PP production in Brazil click here

Reliance plans to expand polyester business, alternative energy growth

Reliance Industries plans to expand it polyester business by pursuing greenfield investment and acquisitions in the entire value chain. The company also seeks opportunities in alternative energy, exteending its conventional energy portfolio and working on bio-fuels and solar strategy.

For more details on Reliance plans to expand polyester business, alternative energy growth click here

LyondellBasell plans consolidation of PP compounding business in North America

In a bid to provide effective services to its customers and utilize resources more efficiently, LyondellBasell plans to consolidate its North America-based polypropylene (PP) compounding production, ssales, marketing and technology activities.

For more details on LyondellBasell plans consolidation of PP compounding business in North America click here

Cereplast Inc's Seymour project on track as facility is safe from floods

Cereplast Inc's bioplastic resin facility at Seymour remains safe from flooding that has been caused by record rainfall in parts of the state leading to evacuation of 100 homes in Seymour this week. CCereplast Inc's bioplastic resin production remains on track to open its Seymour, Ind.

For more details on Cereplast Inc's Seymour project on track as facility is safe from floods click here

Propylene prices in Asia surge

Propylene prices in Asia continued to surge, rising by over hundred dollars to US$1740/MT levels this week. The price hike was caused by restricted supplies due to snags and breakdowns at plants in Soouth Korea, China and Malaysia, coupled with upbeat sentiments for downstream Polypropylene markets.

For more details on Propylene prices in Asia surge click here

Fifth expansion project of Saudi Methanol Company comes on-stream

The Saudi Methanol Company's fifth expansion project of AR-RAZI has come on stream in Jubail Industrial city. AR-RAZI-5 is one of the largest methanol projects in the world designed with annual capaciity of 1.

For more details on Fifth expansion project of Saudi Methanol Company comes on-stream click here

Cost of Reliance's export oriented refinery at Jamnagar is half that of others

The Rs 270 bln (US$6.3 bln) export-oriented refinery that Reliance Petroleum Ltd. (RPL) is setting up in Jamnagar will incur half the cost than that of a new refinery anywhere in the world, as per thee company's 2007-08 annual report.

For more details on Cost of Reliance's export oriented refinery at Jamnagar is half that of others click here

Thin Wall Packaging 2008

AMI is pleased to announce an exciting programme for the 3rd international conference on Thin Wall Packaging, to be held 28-30th October 2008 at the Maritim Hotel in Cologne, Germany. The meeting kickks off with a top paper from Rainer Schlicht, the Head of Packaging at Campina, followed by market research from Jon Nash at AMI.

For more details on Thin Wall Packaging 2008 click here

As US crude reserves fall for fourth consecutive week, oil prices fall

Release of US government report that showed American crude reserves dipped 4.6 mln barrels in the week ending June 6, for the fourth consecutive week, has pushed down oil prices in Asia. New York's maain oil futures contract, light sweet crude for July delivery, dipped to US$135 after trading at almost US$137 in the morning.

For more details on As US crude reserves fall for fourth consecutive week, oil prices fall click here

Rhodia commences construction of new R&D facility in Shanghai

Rhodia has launched construction of a Research and Development facility in Shanghai with 150 scientists. Construction will be completed this summer, and will support 17 of Rhodia's industrial operatioons in China and the Asia-Pacific region.

For more details on Rhodia commences construction of new R&D facility in Shanghai click here

PolyOne to compound and market Eastman Tritan Copolyesters

PolyOne Corporation has signed a market development agreement with Eastman Chemical Company designating PolyOne as the exclusive compounder of filled systems with Eastman's new-generation Tritan copollyester in North America.

For more details on PolyOne to compound and market Eastman Tritan Copolyesters click here

SCG-Dow Group breaks ground on Propylene Oxide plant in Thailand

The SCG-Dow Group has broken ground on a 390,000 tpa propylene oxide (PO) facility in Thailand. The world-scale plant, located within the Asia Industrial Estates (AIE) site near Map Ta Phut, is a joinnt venture between Dow and The Siam Cement Group (SCG).

For more details on SCG-Dow Group breaks ground on Propylene Oxide plant in Thailand click here

Plastics in Underground Pipes

Plastics are extensively used in Underground Pipes as discussed at the May 2008 AMI conference in Houston, Texas. With renewal and rehabilitation of aging systems, this is a sizeable market. Earthquuakes cause devastating damage: in 1994 in the Northridge quake, there were 1500 water pipeline failures due to tectonic movement and wave passage.

For more details on Plastics in Underground Pipes click here

Plastic pipe market to grow with rapid infrastructure development in Middle East

With rapid infrastructure development in the Middle East region, the markets are growing for pipe systems from water and sewage to cooling systems and industrial pipes. In addition, existing pipe systtems are leaking valuable water resources and need to be upgraded.

For more details on Plastic pipe market to grow with rapid infrastructure development in Middle East click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 9, 2008

CRUDE OIL
Crude oil prices bounced back past US$127 a barrel, recording a rise of over five dollars in the week, as the dollar fell in response to commentts by European Central Bank President suggesting the bank could raise interest rates.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 9, 2008 click here

Abu Dhabi to build US$4bln Polymer Park for converters

Abu Dhabi Basic Industries Corporation (Adbic- a subsidiary of Abu Dhabi government's General Holding Company), has announced plans to build a US$4bln polymer park dedicated to plastic conversion. Thee Abu Dhabi Polymer Park will be located in the Industrial City of Abu Dhabi and will host about 50-60 plastic processors to provide for downstream production and integrate with the mid and up-stream players in the UAE and the region.

For more details on Abu Dhabi to build US$4bln Polymer Park for converters click here

Oil prices rise to US$132 in Asia

New York's main oil futures contract, light sweet crude for July delivery, rose to US$132.00 per barrel. Oil prices rose even as the world's biggest oil producers and consumers get ready to meet to diiscuss record crude prices that continue to fuel fears for the global economy.

For more details on Oil prices rise to US$132 in Asia click here

Ultra acquires 100% stake in União Terminais for US$296 mln

Brazilian petrochemicals and gas group Ultra, through its subsidiary Ultracargo, has acquired 100% stake in Unipar's União Terminais e Armazéns Gerais for 483 mln reais (US$296mln). With this, Ultracaargo will be Brazil's leader in liquid bulk storage, with total capacity of 502,000m3 - about 30% of the total national capacity.

For more details on Ultra acquires 100% stake in União Terminais for US$296 mln click here

No recovery in US housing sector

Japan's Shin-Etsu, world's number one polyvinyl chloride (PVC) maker has been badly afflicted by the slump in the US housing sector. The company sees no signs of recovery in the US housing market and is looking to emerging markets such as the Middle East, SE Asia and the Caribbean for growth.

For more details on No recovery in US housing sector click here

Unipetrol to upgrade benzene production at Czech unit to 250,000 tpa

A fractional distillation column slated for installation at Unipetrol's benzene production facility in Litvinov, Czech Republic, is in transit. The 50 mtr fractionating column will help Unipetrol incrrease benzene production to 250,000 tpa from 210,000 tpa, by end of 2008.

For more details on Unipetrol to upgrade benzene production at Czech unit to 250,000 tpa click here

Reliance staff, contractor booked for IPCL blast as fire shuts one 120,000 ton unit

The Nagothane police has booked five top Reliance officials and the contractor under section 304 (A) of the Indian Penal Code for causing death due to negligence at the chemical explosion in the Reliaance-owned Indian Petrochemicals Corporation Limited (IPCL) plant on Friday.

For more details on Reliance staff, contractor booked for IPCL blast as fire shuts one 120,000 ton unit click here

Transparent and translucent TPE grades designed for grip applications

ExxonMobil Chemical has introduced new transparent and translucent thermoplastic elastomer (TPE) grades designed for grip applications in the kitchenware, consumer electronics, tools, small appliance and stationery markets.

For more details on Transparent and translucent TPE grades designed for grip applications click here

Despite call by Saudi for talks with consumer nations oil prices rise

New York's contract, light sweet crude for July delivery, rose to almost US$135 a barrel, despite a call by Saudi Arabia for talks with consumer nations reiterating its readiness to meet any increase in demand to counter rising prices.

For more details on Despite call by Saudi for talks with consumer nations oil prices rise click here

Thai Glow Energy to supply 140 megawatts of power to Thai petrochemical plants

Glow Energy PCL has signed contracts to supply 140 megawatts of power to petrochemical plants in Thailand. Total value of the contract is 70 bln baht. Glow will deliver electricity and steam to the pllants in the eastern province of Rayong from mid-2009 to early 2011.

For more details on Thai Glow Energy to supply 140 megawatts of power to Thai petrochemical plants click here

Newly 100,000 ton capacity makes Yangtze Petrochemical China's number one butadiene maker

A new 100,000 tpa capacity butadiene plant that has recently come onstream has propelled Yangtze Petrochemical as China's top butadiene production spot. With this added capacity, total capacity at Yanngtze Petrochemical has reached 206,000 tpa.

For more details on Newly 100,000 ton capacity makes Yangtze Petrochemical China's number one butadiene maker click here

Formosa mulls petrochem project in Vietnam

Taiwans' Formosa Plastics Corp. plans to build a petrochemical complex in Vietnam, over 6,000 hectares: more than three times the size of the company's petrochemical base in Taiwan.
Taipei-based Forrmosa is Taiwan's biggest diversified industrial company, and has planned to expand in Vietnam to cut costs and tap the Southeast Asian market.

For more details on Formosa mulls petrochem project in Vietnam click here

Force Majeure declared by Dow on ethylene from Terneuzen

With effect from June 1, 2008, Dow Europe has declared force majeure (FM) on ethylene supplies from its 575,000 tpa Number 2 cracker at Terneuzen (The Netherlands). The plant was shut due to technicall problems that it encountered after it was restarted in May, following a maintenance turnaround.

For more details on Force Majeure declared by Dow on ethylene from Terneuzen click here

SABIC Europe achieves successful pre-registration under REACH

SABIC Europe has achieved pre-registration of an initial number of substances in order to comply with REACH. While the pre-registration phase has just begun, SABIC Europe has already started to pre-reegister substances within the framework of REACH.

For more details on SABIC Europe achieves successful pre-registration under REACH click here

4 killed as fire breaks out at Reliance petrochem unit

A fire broke out in a section of Reliance Industries' plant No. 2 with a capacity to produce 60,000 tpa of LLDPE (linear low density polyethylene) at Nagothane in Maharashtra on Friday. Four people haave been killed after the fire, and about 15 have been injured at the fire which occurred after the plant was shut down for routine maintenance about 24 hours earlier.

For more details on 4 killed as fire breaks out at Reliance petrochem unit click here

Tamil Nadu seeks clearance from Centre for PCPIR

Tamil Nadu has sought clearance from the Centre for setting up a multi-billion petrochemcial and petroleum investment region (PCPIR) spread over 250 sq km at Cuddalore and Nagapattinam. This decision follows the probable launch of the Cuddalore refinery project.

For more details on Tamil Nadu seeks clearance from Centre for PCPIR click here

Braskem confirms US$614 mln investment in Triunfo petrochemical complex

Brazilian petrochemical company Braskem has corroborated an investment of US$614 mln to build a green polyethylene (PE) plant in the petrochemical complex planned in the city of Triunfo, in the southeern state of Rio Grande do Sul.

For more details on Braskem confirms US$614 mln investment in Triunfo petrochemical complex click here

Bayer MaterialScience announces a price increase for TPU resins

With effect from July 1, 2008, Bayer MaterialScience has announced a price increase of US$0.l5-0.30/kg on TPU (thermoplastic polyurethane) resins. The increase will affect all TPU brands in the Asia PPacific region, including Utechllan, Desmopan and Texin.

For more details on Bayer MaterialScience announces a price increase for TPU resins click here

45 day maintenance shutdown planned by Sinopec at Tianjin

Sinopec Corp has planned a 45 day maintenance shutdown, largest maintenance in three years, at its110,000 bpd refinery. The current 110,000 bpd refinery has two crude units, of 50,000 bpd and 60,000 bbpd.

For more details on 45 day maintenance shutdown planned by Sinopec at Tianjin click here

PolyOne inks market development agreement with Eastman Chemical

Global provider of specialized polymer materials, services and solutions- PolyOne, has signed a market development agreement with Eastman Chemical. As per this agreement, PolyOne will be designated ass the exclusive compounder of filled systems with Eastman's new-generation Tritan copolyester in North America.

For more details on PolyOne inks market development agreement with Eastman Chemical click here

Oil prices rebound by 5 dollars as the dollar dips

Oil prices bounced back past US$127 a barrel, recording a rise of over five dollars as the dollar fell in response to comments by European Central Bank President suggesting the bank could raise intereest rates.

For more details on Oil prices rebound by 5 dollars as the dollar dips click here

Explosion at Kuwait's Mina Abdullah port petrochemical facility

A blast has occurred at a petrochemical facility at Kuwait's Mina Abdullah port. Cause of the blast is unknown, and it is still not clear whether the country's exports will be hit. Effect of the blastt on operations at Kuwait's second-largest oil refinery, the 270,000 bpd Mina Abdullah plant, located nearby, is unknown.

For more details on Explosion at Kuwait's Mina Abdullah port petrochemical facility click here

Dow and Crystalsev to commence production of polyethylene from ethanol by 2011

Dow Chemical Co.'s Brazilian subsidiary is about two months away from acquiring farmland to grow sugarcane for ethanol. The company will produce ethanol in partnership with Brazilian sugar company Cryystalsev.

For more details on Dow and Crystalsev to commence production of polyethylene from ethanol by 2011 click here

TechnoCompound plans further expansion of LFT and engineering polymer production

German compounding specialist TechnoCompound plans to further expand its production of long fibre reinforced thermoplastics (LFTs) and engineering polymers in the next few years. After the successful installation of two new compounding lines towards the end of 2007, annual production capacity has mounted to 50,000 tons, of which 15,000 tons are reserved for special-purpose LFTs.

For more details on TechnoCompound plans further expansion of LFT and engineering polymer production click here

Axens awarded technology design package by Saudi Aramco and Total for Jubail

Axens has been awarded a technology design package for the new 400,000 bpd full-conversion refinery in Jubail, Saudi Arabia. Among the units that are being designed by Axens and its Alliance partners are a 32,000 bpsd vacuum gas oil fluid catalytic cracker (VGO FCC) and a ParamaX Aromatics Complex producing 700,000 tpa of paraxylene and 143,000 tpa of benzene.

For more details on Axens awarded technology design package by Saudi Aramco and Total for Jubail click here

Construction of Fujian JV on track, ethylene production to come on stream by Q1-09

Construction of the Fujian joint venture between Saudi Aramco and Sinopec is on track. The project, which includes a 240,000 bpd refinery and petrochemical units with total capacity of 2.2 mln tpa iss 75% complete.

For more details on Construction of Fujian JV on track, ethylene production to come on stream by Q1-09 click here

Sinopec Maoming may restart small ethylene unit

A fire has resulted in shutdown of Sinopec's Maoming Petrochemical's 1mln tpa cracker and its derivative units. This week, the Maoming refinery may restart the smaller unit with capacity to produce 3880,000 tpa ethylene- deemed to be undamaged after the fire.

For more details on Sinopec Maoming may restart small ethylene unit click here

LyondellBasell to consolidate North American-based PP compounding activities

In a bid to consolidate its North American-based polypropylene compounding production, sales, marketing and technology activities, Netherlands headquartered LyondellBasell Industries plans to close itts compounding facility in Grand Prairie and move to a plant in Mansfield, as well as to its new plant in Altamira, Mexico.

For more details on LyondellBasell to consolidate North American-based PP compounding activities click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 2, 2008

CRUDE OIL
Crude oil futures have fallen by five dollars to lows of US$127 per barrel in New York for the week of June 2, 2008. From all time highs of USS$135 per barrel on May 22, crude oil prices have dipped sharply on a report that fuel consumption in USA has fallen from a year ago levels due to higher oil prices.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended June 2, 2008 click here

Dow to raise price of all products by up to 20%

In a bid to soften the exceptional rise in energy and related raw material costs, The Dow Chemical Company will raise the price of all of its products by up to 20%, with effect from June 1, 2008. The exact price hike will depend on their exposure to rising energy, feedstock and transportation costs.

For more details on Dow to raise price of all products by up to 20% click here

Shutdown after fire at Maoming 1 mln tpa cracker raise supply concerns

Supplies are expected to tighten as a result of a fire and subsequent shutdown of Maoming Petrochemical's 1mln tpa cracker and its derivative units. Sellers offers for June are sporadic in anticipatioon of a price hike.

For more details on Shutdown after fire at Maoming 1 mln tpa cracker raise supply concerns click here

Gas prices hover around $4 as oil prices retreat by $13 in a month

Light, sweet crude for July delivery dipped to US$122.30 barrel on the New York Mercantile Exchange - the lowest settlement since May 6. Oil prices have dipped to US$122 a barrel on release of data byy the Energy Department indicating a drop in gasoline demand by 1.

For more details on Gas prices hover around $4 as oil prices retreat by $13 in a month click here

Dow to hike PP prices by €50/ton

Dow Europe plans to increase polypropylene prices by Euro 50/ton, with effect from 1 June 2008. PP prices will go up by EUR 50/ton in Europe, India, the Middle East and Africa. This is Dow's attempt tto restore margins to prevent business from becoming unaffordable and to avoid having to make asset decisions at a time of strong demand.

For more details on Dow to hike PP prices by €50/ton click here

LyondellBasell announces €100 hike per ton of polyethylene in Europe

With effect from June 1, 2008, LyondellBasell Industries has increased prices by €100/ton of all its polyethylene grades sold in Europe. Swelling feedstock and energy costs that have been eroding comppany margins since the beginning of the year have forced this increase.

For more details on LyondellBasell announces €100 hike per ton of polyethylene in Europe click here

Honeywell solutions selected for Petro Rabigh facility

Honeywell has been awarded a contract to install and implement an integrated advanced planning and scheduling solution for Rabigh Refining & Petrochemicals Co.'s Petro Rabigh facility. Honeywell's sollutions will help improve plant profitability by enabling plant staff to work more effectively and make better decisions.

For more details on Honeywell solutions selected for Petro Rabigh facility click here

Sinopec to cut ethylene output by 65000 tons to raise oil supply

This month will see China Petrochemical Corp. (Sinopec), reducing ethylene output by 65,000 tons, and also reduce aromatic hydrocarbon production by 8%. This reduction in ethylene production will be ssubstituted by an increase in oil supplies of almost 200,000 tons towards earthquake relief and reconstruction efforts, the summer grain harvest and the forthcoming Olympics.

For more details on Sinopec to cut ethylene output by 65000 tons to raise oil supply click here

New report predicts strong growth in polypropylene market

Polypropylene (PP)- the most versatile of plastics is constantly being used in an increasing amount of applications. Whether used in ice-trays, drinking straws, washing machines, furniture, sporting ggoods, luggage, diapers, or syringes; polypropylene is everywhere.

For more details on New report predicts strong growth in polypropylene market click here

2 ethylene units with capacity exceeding 1 mln tpa closed due to fire at Maoming

A fire that broke out on Tuesday evening at Maoming refinery has forced closure of two ethylene units with total capacity of over 1 mln tpa. The refinery is Sinopec's second largest in terms of capaciity.

For more details on 2 ethylene units with capacity exceeding 1 mln tpa closed due to fire at Maoming click here

Oil prices dip below US$124 in Asia on rising demand concerns

Oil prices dipped below US$124 a barrel in Asia as demand concerns intensified and a statement that USA will leave interest rates untouched. Indication that more interest rate cuts are unlikely in USAA, suggest inflation is too much of a concern to contemplate more rate hikes - pushing the dollar higher.

For more details on Oil prices dip below US$124 in Asia on rising demand concerns click here

China, Korea show interest in joint petrochem project undertaken by Ecuador and Venezuela

China and South Korea have expressed an interest in investing in a joint petrochemical project undertaken by Ecuador and Venezuela. The refinery, Refineria del Pacifico, with a capacity to process 3000,000 bpd of crude, will Ecuador to meet domestic demand for gasoline as well as export it.

For more details on China, Korea show interest in joint petrochem project undertaken by Ecuador and Venezuela click here

Turcas plans to invest US$3 bln in newly acquired Petkim

Turkish energy company Turcas plans to invest US$3 bln over the next five years in petrochemicals company Petkim, in which it has recently acquired a 51% stake. The Azerbaijani-Turkish consortium has formally acquired the majority shares of Turkey's Petrochemical Holding Co.

For more details on Turcas plans to invest US$3 bln in newly acquired Petkim click here

Workers observe cease-work at HPL due to non payment of dues by agency

18 contract labourers attached to the Haldia Petrochemicals Ltd. (HPL) observed a cease-work after the agency that recruited them, allegedly failed to clear their dues. The workers are backed by Citu and belong to the Citu-affiliated HPL Employees' Union.

For more details on Workers observe cease-work at HPL due to non payment of dues by agency click here

Orissa Government clears Paradip PCPIR

The Orissa government's high-level clearance authority (HLCA) has cleared the Paradip Petrochemicals & Petroleum Investment Region (PCPIR) project. Indian Oil Corp. will be the anchor tenant for the pproject.

For more details on Orissa Government clears Paradip PCPIR click here

New system to assist diabetics

The World Health Organization reports that globally, almost 177 mln people suffer from diabetes currently, and this figure is expected to more than double by 2030.
To expedite the treatment process,, Biorep® Technologies, a device manufacturer specializing in tools used in diabetes research and treatment developed a new system for isolating insulin-producing cells faster and more efficiently with materials made by SABIC Innovative Plastics.

For more details on New system to assist diabetics click here

Borealis raises polyethylene & polypropylene prices

In a bid to restore margins, Borealis will increase all polyethylene prices by EUR 80/ton and all polypropylene prices by EUR 50/ton, with effect from June 1, 2008.
The price increase is necessary tto secure future innovation and development programs.

For more details on Borealis raises polyethylene & polypropylene prices click here

Oil prices dip to US$127 on tight global demand amid restrained supply

From all time highs of US$135 per barrel on May 22, crude oil prices have dipped sharply. Oil futures slipped in Asian trading as investors try to estimate whether oil prices have peaked even as worriies abound that supplies are inadequate to meet growing global demand.

For more details on Oil prices dip to US$127 on tight global demand amid restrained supply click here

BASF to hike polystyrene prices with effect from June1, 2008

A sharp hike in feedstock styrene prices has pushed BASF to mull a price hike for polystyrene. With effect from 1 June 2008, BASF plans to increase its gross market price for PS by EUR 100/ton to EUR 1,525/ton.

For more details on BASF to hike polystyrene prices with effect from June1, 2008 click here

EC approves joint venture between SolVin and Siberian-Ural Petrochemical

Under the EU merger regulations, the European Commission has cleared the formation of the RusVinyl joint venture between SolVin and Siberian-Ural Petrochemical. The JV will invest EUR 650 mln in a worrld-scale fully integrated vinyls plant in Kstovo, Russia.

For more details on EC approves joint venture between SolVin and Siberian-Ural Petrochemical click here

Kuwait mulls integration of new refinery at Al-Zour with petrochem complex

Kuwait is mulling integration of its new 615,000 bpd refinery at Al-Zour, currently under construction, with a massive petrochemicals complex. The $15 bln Al-Zour refinery was originally geared towardds providing fuel oil for the state's power plants.

For more details on Kuwait mulls integration of new refinery at Al-Zour with petrochem complex click here

IVRCL Infrastructure awarded Rs.8.376 bln contract by ONGC

IVRCL Infrastructure has secured a Rs.8.376 bln contract by ONGC Petro Additions Ltd., a subsidiary of Oil and Natural Gas Corp (ONGC) for the Dahej Petrochemical Complex project. With this contract, IVRCL has marked its entry into the oil and gas sector.

For more details on IVRCL Infrastructure awarded Rs.8.376 bln contract by ONGC click here

Construction work on Borouge-2 on schedule

The work on the US$5 bln Borouge-2 project in Ruwais, Abu Dhabi is on schedule. With the completion of this project in 2010, petrochemicals production capacity of Borouge will see a threefold jump to 2 mln tpa.

For more details on Construction work on Borouge-2 on schedule click here

Saudi Kayan signs US$6 bln financing agreements for 15 years with group of banks and financial institutions

Saudi Kayan Petrochemical Company (Saudi Kayan-An affiliate of SABIC), has entered into a US$6 bln (SR 22.5 bln) financing arrangements for 15 years with a group of banks and financial institutions too finance part of the cost of its new complex in Jubail Industrial City.

For more details on Saudi Kayan signs US$6 bln financing agreements for 15 years with group of banks and financial institutions click here