Indorama Ventures submits draft prospectus for exchange offer to IRP shareholders

As part of its shareholding and management restructuring plan, petrochemical producer Indorama Ventures Public Company Limited (IVL) has filed a registration statement and draft prospectus (the Filingg) with the Office of the Securities and Exchange Commission (SEC) to offer IVL newly issued ordinary shares in exchange for shares of its subsidiary Indorama Polymers Public Company Limited (IRP) held by minorities of IRP shareholders.

For more details on Indorama Ventures submits draft prospectus for exchange offer to IRP shareholders click here

Rücker AG forays into chemical and petrochemical plant construction

Wiesbaden-based Rücker AG will be extending its commercial activities and also operating in the field of plant construction engineering. Central location for the new business operations will be Düsselldorf.

For more details on Rücker AG forays into chemical and petrochemical plant construction click here

China's stimulus spending fuels massive overexpansion could lead to protectionist measures from overseas markets

China's stimulus spending has fueled massive overexpansion in industrial capacity that could drive a surge in low-priced exports amid weak global demand, possibly igniting a protectionist backlash abrroad, as per the European Union Chamber of Commerce in China.

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Expected ethylene supply glut from the Middle East trims to trickle

The anticipated supply glut from the Middle East in H2-200 has trimmed down to a trickle as plant start ups get delayed. Following delays of about 7-8 months, impressive capacities have come on streaam in the region as well as in China.

For more details on Expected ethylene supply glut from the Middle East trims to trickle click here

Polypropylene markets in Asia under duress from rising propylene values

From levels of US$960/MT FOB Korea in H1-October, H2-December propylene prices have spiked past US$1100/MT in Asia. The key factor behind these robust gains has been restricted supplies in the region as producers in South Korea, Taiwan and Japan continue to face maintenance shutdowns and production issues.

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Tetra Pak inks deal with Braskem for trial of renewable HDPE for plastic caps and closures

Tetra Pak has inked a deal with Braskem to try use of renewable HDPE for manufacture of plastic caps and closures. Under the terms of agreement, Braskem will supply Tetra Pak with 5000 tpa of the ethaanol-based HDPE from 2011.

For more details on Tetra Pak inks deal with Braskem for trial of renewable HDPE for plastic caps and closures click here

Qatofin’s US$1.2 bln linear low-density polyethylene plant inaugurated at Mesaieed

Qatofin’s US$1.2 bln world-scale linear low-density polyethylene (LLDPE) plant with capacity to produce 450,000 tpa has been inaugurated at Mesaieed. The plant, located at the Qapco site, will have caapacity to process 422,000 tpa of ethylene and 38,000 tpa of butane-1.

For more details on Qatofin’s US$1.2 bln linear low-density polyethylene plant inaugurated at Mesaieed click here

France plans to ban wine packaging switch to polyethylene terephthalate bottles and cartons

The ruling council for Beaujolais Nouveau wines in France plans to ban a switch to PET bottles and cartons being considered by wineries. In a bid to safe guard the wine region's image, wineries could be restricted to packaging their Beaujolais Nouveau wines in glass bottles.

For more details on France plans to ban wine packaging switch to polyethylene terephthalate bottles and cartons click here

Hitachi Plant Technologies awarded PBT licensing and basic engineering contract in China

Hitachi Plant Technologies Ltd. has been awarded the licensing and basic engineering order for PBT production process by China Petrochemical International Co. Ltd. (Sinopec). Hitachi will license its polybutylene terephthalate (PBT) production process for use in a plant with 60,000 tpa capacity as well as carry out basic engineering work related to this project.

For more details on Hitachi Plant Technologies awarded PBT licensing and basic engineering contract in China click here

Bayer MaterialScience in PC sheet JV with India’s Malibu Plastica Ltd

German chemical company Bayer AG’s arm -Bayer MaterialScience has inked a deal to for a Polycarbonate sheet JV with India’s Malibu Plastica Limited. Malibu Plastica is a pioneer of polycarbonate sheett production in India.

For more details on Bayer MaterialScience in PC sheet JV with India’s Malibu Plastica Ltd click here

SABIC and Linde announce first successful commercialization of Linear Alpha Olefins

Saudi Basic Industries Corporation (SABIC)Saudi Basic Industries Corporation (SABIC and German-based The Linde Group announced today the first successful commercializatiion of Linear Alpha Olefins (LAO), using a-SABLIN® technology developed jointly by SABICSABIC and Linde.

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Indonesia could request delay in China-ASEAN FTA for certain products

China signed an initial free trade agreement (FTA) with the 10 members of Asean including Indonesia, Singapore, Thailand and Malaysia in November 2002. 2010 was set as a deadline by both sides for a bbroader pact.

For more details on Indonesia could request delay in China-ASEAN FTA for certain products click here

Qapco-3 to be launched next month to augment capacity

In a move that will augment Qatar’s polyethylene production in excess of 1.2 mln tons, Qapco-3 has been planned. The multi-billion dollar plant, to come onstream in 2-3 years will produce about 300,0000 tpa of polyethylene and will house a new central control room for all Qapco and Qatofin plants.

For more details on Qapco-3 to be launched next month to augment capacity click here

Crude oil supplies mount : prices ebb to one month lows

Light, sweet crude for January delivery dipped to this month’s lowest levels at US$76 on the Nymex, while Brent crude dropped to US$76.4. This has been the lowest settlement price since Oct. 14, as crrude dips over concerns of an impending increase in oil supplies.

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Revamp at CPC refinery to raise naphtha output by 115,000 tpa

India's Chennai Petroleum Corp., a unit of India's largest state-run refiner Indian Oil Corp., has delayed a two-month shutdown at its Manali refinery to end-December. The delay has been caused by a ddelay is receipt of necessary equipment from vendors.

For more details on Revamp at CPC refinery to raise naphtha output by 115,000 tpa click here

Delay in India’s FTA with Gulf Cooperation Council (GCC)

The Free Trade Agreement (FTA) between India and the Gulf Cooperation Council (GCC) has come to a virtual standstill. Discussions between the two sides have been postponed to February, leading to a siignificant setback to India’s ties with the GCC.

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PE sellers from Asia, Middle East drawn towards markets in China, SE Asia

Persistently steady oil prices coupled with rising costs of inputs naphtha and ethylene has propelled polyethylene prices in Asia in the past few weeks. As a result, an increased number of sellers froom Asia and Middle East are interested in offering material in markets of China and South East Asia.

For more details on PE sellers from Asia, Middle East drawn towards markets in China, SE Asia click here

Sinopec and TPG not in race for LyondellBasell

China’s largest refiner - Sinopec and US private equity investment firm TPG are not in the race to acquire a stake in LyondellBasell. It was earlier reported that the two are considering bidding for a stake in bankrupt the Dutch chemical major.

For more details on Sinopec and TPG not in race for LyondellBasell click here

Is acquisition of LyondellBasell a profitable proposition for RIL?

Reliance Industries Ltd has made a preliminary offer to acquire a controlling stake in LyondellBasell. The exact value of the deal or the stake that RIL proposes to buy in LyondellBasell is yet not knnown, however, it is likely to be an all-cash deal.

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Reliance Industries makes preliminary offer to acquire stake in LyondellBasell

Reliance Industries Ltd has made a preliminary offer to acquire a controlling stake in LyondellBasell. The exact value of the deal or the stake that RIL proposes to buy in LyondellBasell is yet not knnown, however, it is likely to be an all-cash deal.

For more details on Reliance Industries makes preliminary offer to acquire stake in LyondellBasell click here

PTT defers plans for merger until result of Map Ta Phut case

A planned merger of four PTT Group petrochemical and refining units has been delayed until the court outlines clear environmental enforcement guidelines for 76 suspended industrial projects, worth aboout 400 billion baht, in Rayong's Map Ta Phut Industrial Estate.

For more details on PTT defers plans for merger until result of Map Ta Phut case click here

Malaysian Plastics Forum says use of PET water bottles is safe

The Malaysian Plastics Forum (MPF) has said that the use of polyethylene terephthalate (PET) bottles is safe. The use of PET bottles has been subjected to the US Food and Drugs Administration’s (FDA) review and regulations process before they were allowed to be used as packaging material.

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Borealis speeds up innovation for Wire & Cable applications

Borealis, a leading provider of chemical and innovative plastics solutions has announced the completion of an additional investment in a new pilot cable line for the development of wire and cable prodducts at its Innovation Centre in Stenungsund, Sweden.

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Oil prices rise as dollar dips and doubts of sustainable global economic recovery re-emerge

New York's main contract, light sweet crude for December delivery dipped by two dollars to US$77.4, while London's Brent North Sea crude for January fell to US$77.8. As the dollar rose and doubts of aa sustainable global economic recovery resurfaced, oil prices dropped.

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OPaL explores IPO route to part-finance Rs 12,500 cr Dahej petrochemical complex

ONGC Petro-additions (OPaL) is exploring the option of a public issue (IPO) to part-finance its Rs 12,500 crore petrochemical complex at Dahej, Gujarat. The complex has been planned with a capacity too produce 1.

For more details on OPaL explores IPO route to part-finance Rs 12,500 cr Dahej petrochemical complex click here

Honeywell to invest US$34 mln in Technology Centre in India

Honeywell India plans to establish a Technology Centre in Gurgaon at an investment of US$34 mln to expand its global research capabilities in refining, petrochemical and other technologies. The centree, to be managed by managed by UOP India, will primarily have pilot plans for developing and demonstrating refining and petrochemical process technology.

For more details on Honeywell to invest US$34 mln in Technology Centre in India click here

OAO Rosneft and Sinopec mull JV for 5 mln tpa petrochemical complex

OAO Rosneft – Russia’s oil and petrochemicals major is mulling formation of a joint venture with Sinopec Group to build a 5 million tpa petrochemicals plant in Primorsky Region of eastern Russia as peer PRW.

For more details on OAO Rosneft and Sinopec mull JV for 5 mln tpa petrochemical complex click here

Mitsubishi Chemical to acquire Mitsubishi Rayon for over US$2 bln

Acquisition of Mitsubishi Rayon Co. by Mitsubishi Chemical Holdings Corp. is on the cards. The new giant that will emerge in a deal worth over US$2 bln, and help the Japanese major compete with risingg rivals from China and the Middle East.

For more details on Mitsubishi Chemical to acquire Mitsubishi Rayon for over US$2 bln click here

Naphtha prices rise to 13 month highs

H1-January open-spec naphtha rose by twenty dollars/ton to US$722/ton CFR Japan. Naphtha prices have climbed to new 13-month highs on Wednesday as per ICIS pricing. H2 January open-spec naphtha contraact was valued at $718/ton CFR Japan.

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Eastman Chemical Co. to reverse employee pay cuts

Eastman Chemical Company plans to reverse employee pay cuts implemented as of April 1 to help the company reduce expenses during the global recession. Eastman employs 10,000 people, including 6,800 inn Kingsport.

For more details on Eastman Chemical Co. to reverse employee pay cuts click here

Promising growth potential of Asia-Pacific region to stimulate growth of LDPE

The world LDPE market stands enthused by the promising growth potential of Asia-Pacific. North America, a developed and mature market, is expected to hit a plateau in terms of growth as per a report bby BizAcumen LLC.

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OPEC output to ramp up in 2010 despite slowing demand growth projections

Despite slowing growth in global oil demand has been predicted in the years ahead, some OPEC nations plan to ramp up their capacity. OPEC output capacity is expected to increase by around one million bpd in 2010 as projects enter service in Angola, Iraq, Qatar and Saudi Arabia.

For more details on OPEC output to ramp up in 2010 despite slowing demand growth projections click here

Shaw Group to supply process design services for deep catalytic cracking unit in China

The Shaw Group Inc. has been selected to license its proprietary Refinery Offgas (ROG) purification and recovery technology and supply process design services for a 1500 kilo tpa deep catalytic crackiing (DCC) unit in Shaanxi province, China.

For more details on Shaw Group to supply process design services for deep catalytic cracking unit in China click here

Fenders molded from Noryl GTX Resin win SPE 2009 Hall of Fame Award

SABIC Innovative Plastics’ tough, lightweight Noryl* GTX resin was recognized today for its key role in helping General Motors (GM) 1987 MY Buick® LeSabre® T-Type fenders win the coveted Hall of Fame Award from the Automotive Division of the Society of Plastics Engineers (SPE®).

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Qatar Petroleum International to invest in petrochemical plants in China and Vietnam

Qatar Petroleum International plans to invest in petrochemical plants in China and Vietnam by 2015 to tap demand in the world’s fastest-growing region as it seeks new markets for its LPG output. In Chhina, the Qatari major will partner CNOOC Ltd.

For more details on Qatar Petroleum International to invest in petrochemical plants in China and Vietnam click here

Profit margins diminish for sellers in Europe

Polymer producers in Europe have been compelled to offer price concessions equal to, and in some cases, in excess of the reduced monthly feedstock contract prices as per European Plastics News. There is a general improvement in the supply situation for almost all grades, amid shortages reported for certain grades.

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Braskem and Petropack ink deal for sugarcane ethanol-based polyethylene supply

Braskem and Argentine flexible plastic packaging producer Petropack have signed an agreement for sugarcane ethanol-based polyethylene (PE) supply. This is the first partnership in a South American couuntry other than Brazil, and follows contracts settled with Japanese and European companies.

For more details on Braskem and Petropack ink deal for sugarcane ethanol-based polyethylene supply click here

Saudi Kayan seeks revised bids from contractors for Jubail low density polyethylene plant

Saudi Kayan Petrochemical Co. has sought revised bids from contractors for the construction of a low density polyethylene plant in Jubail, pushing forward the deadline to receive the revision by Decemmber 5.

For more details on Saudi Kayan seeks revised bids from contractors for Jubail low density polyethylene plant click here

IPIC plans JV with companies including Bayer to establish petrochemical plant in Abu Dhabi

International Petroleum Investment Co, the company that acquired Nova Chemicals for US$2.3 bln earlier this year, is considering building a petrochemical plant in Abu Dhabi through a joint venture. IPPIC is in the process of discussing plans of a joint venture with companies including Bayer AG to establish a petrochemical plant in Abu Dhabi.

For more details on IPIC plans JV with companies including Bayer to establish petrochemical plant in Abu Dhabi click here

Successful start-up of Shell’s new world-scale MEG unit in Singapore

Shell Chemicals Ltd has successfully started up its new world-scale monoethylene glycol (MEG) unit at the Shell Eastern Petrochemicals Complex in Singapore. The plant, with a nameplate capacity of 7500,000 tpa, has started up as initially planned.

For more details on Successful start-up of Shell’s new world-scale MEG unit in Singapore click here

Russian government to promote petrochemical consolidation

Currently, Russian petrochemical industry is highly fragmented making them uneconomical. To counter this, the Russian government plans to encourage consolidation in the petrochemicals industry in a biid to become globally competitive.

For more details on Russian government to promote petrochemical consolidation click here

Reliance plans to double Jamnagar capacity, eyes overseas acquisition

Reliance Industries Ltd (RIL)is eyeing overseas acquisitions, aggressive exploration campaign and investments in petrochemicals to drive growth. The company aims to scale heights in its core business of conventional energy - petrochemicals, refining and oil and gas exploration, while it invests in new ventures like retailing and alternative energy.

For more details on Reliance plans to double Jamnagar capacity, eyes overseas acquisition click here

Arpechim cuts jobs at petrochem plant a year after halting operations

Leading Romanian oil refiner and chemicals producer Arpechim plans to slash several hundred jobs at its petrochemicals plant in Pitesti, a year after the facility formally stopped operating as per PRWW.

For more details on Arpechim cuts jobs at petrochem plant a year after halting operations click here

PE price hike proposal by US producers could get derailed

Despite low levels of inventories with polyethylene producers in USA, price hike initiatives for November could get disrupted on seasonally weak demand in the domestic markets as per ICIS. Surprisinglly, export demand continues to be strong.

For more details on PE price hike proposal by US producers could get derailed click here

Venue for NPE2012 shifts to Orlando, Florida

NPE2012, the next edition of the triennial NPE international plastics exposition, will take place April 1-5, 2012 at the Orange County Convention Center in Orlando, Florida, it was announced today by SPI: The Plastics Industry Trade Association.

For more details on Venue for NPE2012 shifts to Orlando, Florida click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 16, 2009

CRUDE OIL
Oil prices have ended the week of November 16, 2009 at US$77.4. After dipping to US$76 mid-week, oil prices ended the week on a high note as a wweaker dollar supported hedging activities, while better-than-expected US consumer spending data also buoyed hopes of energy demand recovery in the world's largest oil consumer.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 16, 2009 click here

Oil prices yo yo to hover around US$78 a barrel

Though oil prices have dipped, they continue to hover around US$78 a barrel, as traders took profit ahead of the release of key US indicators and the weekly fuel inventories report.
Oil began the weeek on a high note as a weaker dollar supported hedging activities, while better-than-expected US consumer spending data also buoyed hopes of energy demand recovery in the world's largest oil consumer.

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BPCL doubles December naphtha offer of 60,000 tons from November

Bharat Petroleum Corp Ltd (BPCL) has increased twofold, its naphtha offer for December vs November. BPCL has offered 60,000 tons of naphtha for December, doubling the spot volume it sold last month. 330,000 tons of low-aromatic naphtha was offered for Dec.

For more details on BPCL doubles December naphtha offer of 60,000 tons from November click here

Market for wood plastic composites developing rapidly in Europe

The market for wood plastic composites is developing rapidly in Europe, enabled by a series of developments in production technology as well as improved marketing programmes and yet the European markeet is still only a fraction of the size of its potential.

For more details on Market for wood plastic composites developing rapidly in Europe click here

Global demand for bioplastics to increase more than fourfold by 2013

Global demand for bioplastics, which include plastic resins that are biodegradable or derived from plant-based sources, will rise more than fourfold to 890,000 metric tons in 2013 as per a report by FFreedonia.

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Polymers in Photovoltaic technology

The solar power market has been growing rapidly in the past decade, driven by the need to find alternative energy sources. Photovoltaic technology has the potential to turn barren desert into high vaalue power plants, rooftops into income, and to generate electricity in remote locations.

For more details on Polymers in Photovoltaic technology click here

West European buyers of standard thermoplastics benefit from falling feedstock costs

Earlier this month, buyers of standard thermoplastics in Western Europe benefited from falling prices of feedstock ethylene, propylene and styrene as per Plastics Information Europe. This has led to rreductions in price of thermoplastics equal to the monomer reduction, and in some cases more.

For more details on West European buyers of standard thermoplastics benefit from falling feedstock costs click here

Turkish government permits SOCAR to build new refinery at Petkim petrochemical complex

The Turkish government has given requisite permission to Azerbaijan's state oil company SOCAR to build a new refinery at the Petkim petrochemical complex in Aliaga, Western Turkey. A feasibility studyy is currently in progress, and construction is expected to commence in 2010 of the refinery planned to have capacity oof 10-15 mln tpa.

For more details on Turkish government permits SOCAR to build new refinery at Petkim petrochemical complex click here

Operating rates firm at crackers across Europe on better than expected demand for C2, C3

Crackers across Europe have firmed run rates and are operating at 80-85% capacity on better than expected demand this month for ethylene (C2) and propylene (C3) as per ICIS. Most maintenance and econoomic closures at the various crackers across Europe are expected to be complete towards year-end.

For more details on Operating rates firm at crackers across Europe on better than expected demand for C2, C3 click here

MRPL fetches triple premium for Dec-Feb naphtha cargo

As buying interest gets increasingly robust, India's Mangalore Refineries and Petrochemicals Ltd (MRPL) has fetched a premium of US$22/ton on a naphtha cargo of 90,000 tons for December-February liftiing.

For more details on MRPL fetches triple premium for Dec-Feb naphtha cargo click here

Decision to end ban on direct imports of whole PET scrap bottles on the cards in China

The Chinese government is apparently edging closer to ending a ban on direct imports of whole PET scrap bottles as per PlasticsNews. This decision is being watched by the global recycling industry as increased recycled PET exports to China could result in potentially less available elsewhere.

For more details on Decision to end ban on direct imports of whole PET scrap bottles on the cards in China click here

Sustained period of poor earnings forecast for light olefins and petrochemical producers

A latest report by Chemical Market Associates, Inc. (CMAI) reveals that the global economic recession severely impacted olefin demand growth in conjunction with the start-up of significant quantities of new capacity that would have caused a "trough" in the petrochemical margin cycle even in the absence of the global economic recession.

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Downstream polymer processing industry to save on utility bills in Tembusu, Jurong

As the US$3 bln petrochemical cracker complex by Shell at Pulau Bukom is expected to come onstream in Q1-2010, downstream polymer processing units are expected to mushroom in the region. Petrochemicall companies looking to set up processing plants at the Tembusu area of Jurong Island can look forward to around 10% savings on their utility bills, with the construction of Tuas Power's US$2 billion multi-utilities plant in the region.

For more details on Downstream polymer processing industry to save on utility bills in Tembusu, Jurong click here

Mexichem SAB de CV withdraws from planned US$1 bln ethylene cracker on Mexico’s Gulf coast

Pemex Gas y Petroquímica Básica, a subsidiary of state oil company Petroleos Mexicanos, had recently announced inking a MOU for a planned US$1 bln ethylene cracker on Mexico’s Gulf Coast. PVC and speccialty chemicals maker Mexichem SAB de CV has withdrawn from the consortium, citing unsuitable conditions as the reason for withdrawal.

For more details on Mexichem SAB de CV withdraws from planned US$1 bln ethylene cracker on Mexico’s Gulf coast click here

Indian Oil Corp realizes unexpected premiums on naphtha in a firm market

Indian Oil Corp (IOC) has concluded two deals for a total of 66,500 tons of naphtha to Vitol at unexpected premiums in a firmer market. As compared to previous transactions, the premiums realized havee been lower than in one deal and almost same in another deal.

For more details on Indian Oil Corp realizes unexpected premiums on naphtha in a firm market click here

North African chemical industry poised for growth from nascent stage

North Africa’s chemical industry that is in its nascent stage, seems poised for promising growth. Several factors are conducive for this growth - abundant supply of natural gas feedstock, expanding maarkets and the improving political stability that could attract foreign investment as per ICIS.

For more details on North African chemical industry poised for growth from nascent stage click here

Reliance fetches higher premium for naphtha parcel for December lifting

Robust demand from Taiwan and South Korea has impacted the Asian naphtha markets despite a steady flow of supplies from India. India's Reliance Industries has fetched a premium higher by 5-6 dollars oover November premiums on a naphtha parcel for December lifting.

For more details on Reliance fetches higher premium for naphtha parcel for December lifting click here

High temperature resin for new coffee dispensing system reduces costs

High-temperature Ultem* 1000 resin from SABIC Innovative Plastics has been chosen by leading provider of beverage solutions, to create a new low-dose bump pump for its latest coffee dispensing system..

For more details on High temperature resin for new coffee dispensing system reduces costs click here

Fujian Integrated Refining and Ethylene Joint Venture Project complete

ExxonMobil and its partners, Sinopec and Saudi Aramco, have celebrated the full operation of China’s first integrated refining and petrochemical facility with foreign participation. This facility, thee Fujian Integrated Refining and Ethylene Joint Venture Project, will help meet the region’s growing need for fuels and chemical products.

For more details on Fujian Integrated Refining and Ethylene Joint Venture Project complete click here

Petrochemicals demand to grow albeit at lower rates in Egypt

While Egypt’s economic performance is set to deteriorate, it is still better than many other markets, with petrochemicals demand expected to grow albeit at lower rates than in previous years, accordinng to the latest report by companiesandmarkets.

For more details on Petrochemicals demand to grow albeit at lower rates in Egypt click here

Braskem, Idesa seek finance for Ethylene XXI

Braskem and Idesa, the two partners in Ethylene XXI project are seeking finance for a planned US$2.5 bln venture. Braskem and Idesa have also held conversations with export-import banks, primarily thhose in the US, as well as Mexican and Brazilian development banks Nafin and BNDES.

For more details on Braskem, Idesa seek finance for Ethylene XXI click here

Sumitomo, Saudi Aramco’s PetroRabigh project completion celebrated

Sumitomo Chemical Co. and Saudi Aramco have celebrated the completion of a major petrochemical plant built in Rabigh, western Saudi Arabia. The new plant, built at a costt of US$10.

For more details on Sumitomo, Saudi Aramco’s PetroRabigh project completion celebrated click here

Futerro starts up demo unit to test technology for the production of PLA

Futerro has started up its 1500 tpa demo unit in Escanaffles, Belgium to test a state-of-the-art technology for the production of Polylactic Acid (PLA). The technology has been developed by the two paartners Galactic and Total Petrochemicals.

For more details on Futerro starts up demo unit to test technology for the production of PLA click here

Ethylene output for October rises in Japan

Ethylene output in Japan rose 19% in October vs October 2008. Output increased to 631,400 metric tons as petrochemical producers boosted operating rates to meet recovering demand from China, accordingg to the Ministry of Economy, Trade and Industry.

For more details on Ethylene output for October rises in Japan click here

Kuwait terminates naphtha contracts for December-November with Japanese buyers

After ardous negotiations, Kuwait Petroleum Corp (KPC) has terminated contracts for December-November annual naphtha contracts with all Japanese buyers, in a never before move. This has left naphtha uusers in Japan with no term supply from KPC for the first time for a one year period.

For more details on Kuwait terminates naphtha contracts for December-November with Japanese buyers click here

SABIC inaugurates Asia Pacific regional HQ in Singapore

Saudi Basic Industries Corporation (SABIC) has officially inaugurated the new premises of its Asia Pacific headquarters in Singapore. The ceremony took place in conjunction with the internal launch off the 1SABIC global operating model, which was held at a town hall meeting in Singapore for more than 200 employees based here.

For more details on SABIC inaugurates Asia Pacific regional HQ in Singapore click here

Ida weakens along with the dollar, oil prices rise

As tropical storm Ida weakened along with a dip in the US dollar, oil prices rose past US$79/barrel. Earlier in the day, Ida had been listed as a Category 1 hurricane and was estimated to be capable oof taking off 1.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 9, 2009

CRUDE OIL
A marginal rise was seen in crude oil prices past US$77 per barrel in New York in the week of November 9, 2009. Prices rose mid week on release of data by the Energy Department showing a drop in crude-oil stocks in USA.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 9, 2009 click here

Qatar Petroleum International to acquire stake in Royal Dutch Shell’s JV in Singapore

State-owned Qatar Petroleum International is to acquire a stake in Royal Dutch Shell PLC's chemical joint ventures in Singapore. Other details have not been disclosed.
Shell Eastern Petroleum operatees a 500,000 bpd refinery at Pulau Bukom and is in the process of building a petrochemical complex comprising an 800,000 tpa steam cracker and two downstream units.

For more details on Qatar Petroleum International to acquire stake in Royal Dutch Shell’s JV in Singapore click here

Saudi-Japan collaboration to start semi-commercial production in 2012 at High-Severity Fluid Catalytic Cracker

A joint collaboration technology project between Saudi Aramco, KFUPM, Japan Cooperation Center-Petroleum (JCCP) and Nippon Oil has initiated a project to convert low-value, heavy gas-oils into high yiields of higher value feedstock, called High-Severity Fluid Catalytic Cracking (HS-FCC).

For more details on Saudi-Japan collaboration to start semi-commercial production in 2012 at High-Severity Fluid Catalytic Cracker click here

Reliance mulls acquisition of American assets of LyondellBasell

Reliance Industries is planning acquisition of American assets of LyondellBasell, in a bid to extend the reach of his petrochemical business into foreign. LyondellBasell collapsed in January under a UUS$26 bln debt.

For more details on Reliance mulls acquisition of American assets of LyondellBasell click here

Arkema to distribute Chang Chun Petrochemicals EVOH copolymers

Arkema is joining forces with Taiwanese chemicals manufacturer Chang Chun Petrochemicals Co. Ltd. to distribute its Evasin® EVOH copolymers. EVOH (Ethylene - Vinyl Alcohol) is a high barrier polymer uused in multilayer film for food Packaging, Automotive and Construction applications.

For more details on Arkema to distribute Chang Chun Petrochemicals EVOH copolymers click here

Pressure Pipe Developments

The global market for HDPE pressure pipes will grow from 4010,000 tons in 2008 to 4992,000 tone in 2013, according to SABIC. The major geographic regions using this type of pipe are Europe, Northeastt Asia and North America.

For more details on Pressure Pipe Developments click here

Petrochemical industry outlook improves from a year ago levels

The outlook for the petrochemicals industry has improved significantly from a year ago due in large part to the economic recovery in emerging countries as per ICIS. As the pace of recovery is healthieer in emerging economies as compared to the slower pace of recovery in the developed world, it seems that Brazil, China and India are poised to lead the way out of recession.

For more details on Petrochemical industry outlook improves from a year ago levels click here

Improved brain implants possible with Electrically Conductive Polymers

New findings could lead to improved treatment of neurological disorders such as Parkinson’s disease and paralysis. Brain implants that can clearly record signals from surrounding neurons in rats have been created at the University of Michigan.

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KBR awarded contract by Saudi Kayan to develop and implement OTS for phenol plant

Saudi Kayan Petrochemical Company (SAUDI KAYAN) has awarded a contract to the plant technology licensor KBR to develop and implement an Operator Training Simulator (OTS) for its grassroots phenol plannt located in Saudi Arabia.

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GAIL in talks to set up SPV to develop integrated refinery and petrochemical plant in India and overseas

India’s gas major GAIL India has revived plans to set up an integrated refinery-cum-petrochem plant by forming a consortium of Indian companies. GAIL is in talks with oil and petrochem majors from thee public and private sector to explore possibility of cooperation.

For more details on GAIL in talks to set up SPV to develop integrated refinery and petrochemical plant in India and overseas click here

Global structure of PP and PE production to change as capacity increases in China and Middle East

The global structure of polypropylene and polyethylene production is poised to change dramatically as capacity rises in China and soars in the Middle East as per Companiesand markets. As a result, thee share of Western Europe and the USA are set to fall substantially.

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South Korea's FTA with India to impact tariffs on over US$15 bln annually

The South Korean parliament has ratified a free trade agreement (FTA) with India, leading to elimination or lowering of tariffs on over US$15 bln in annual bilateral trade. The trade pact, which does not require ratification by India, could nearly double the volume of trade between the two sides.

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KPC reduces premium on term naphtha offer to $13/ton for first time

Despite deal conclusion at premium of US$14/ton with CPC, Kuwait Petroleum Corp (KPC) has brought down premiums on term naphtha to US$13/ton. This is the first time the company has reduced premium to this level, despite being in a position to conclude deals at higher premiums.

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PKN Orlen makes headway in hiving off PVC and fertilisers subsidiary

PKN Orlen is currently Eastern Europe’s largest PVC producer. A debt ridden PKN Orlen, had announced last year, a decision to sell off several non core subsidiaries as part of a revised strategy for tthe period up to 2013.

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Sustainable and compostable film will wrap teabags

Twinings, the English tea company has selected a sustainable and compostable film supplied by Innovia Films to wrap its teabags. The metalized NatureFlex™ NM packaging film used for its teabags providdes advantages for packing and converting such as inherent deadfold and anti-static properties.

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Bio-based plastics demand to grow by 37% pa

Based on recent company announcements the production capacity of bio-based plastics is projected to increase from 360,000 tons in 2007 to about 2.3 mln tons by 2013. This corresponds to an annual growwth of 37%.

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Q3 profitability of Gulf petrochemical industries increased by 51.8 %

Third quarter profitability of Gulf petrochemical industries increased by 51.8% and sales revenues increased 15.2%, as per a study by the Global Investment House (GIH). Regional sales revenue in Q3-099 grew to US$8.

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Plastic bag making unit commences production in Cuban-Venezuelan venture

About two years ago, 10 projects were included in the petrochemical complex to be sited adjacent to the revamped binational oil refinery Mario Balmaceda. The binational refinery in Cuba is a joint vennture between Cuba and Venezuela.

For more details on Plastic bag making unit commences production in Cuban-Venezuelan venture click here

Pemex inks deal to supply ethane to proposed petrochemicals complex in Mexico

Pemex, Mexico’s state-owned energy group, has inked a deal for supply of ethane feedstock for a proposed petrochem complex in Coatzacoalcos, Mexico, in 2015. The new venture known as Ethylene XXI, is a co-operation between Mexico’s Idesa and Brazil’s Braskem.

For more details on Pemex inks deal to supply ethane to proposed petrochemicals complex in Mexico click here

Jalgaon Association decision to regulate quality of waste plastics, recycling costs

Jalgaon Plastic Reprocessors Association met on 14th October to discuss the trade of PP regrind and waste. It has observed that the amount of impurities (non PP waste, dirt etc.) were about 10% or lesss until a few months ago.

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Unemployment rate in USA crosses 10%: oil sinks

On Friday, crude for December delivery settled at US$77.4 on the Nymex, while Brent crude for December delivery dipped to US$75.8 in London. Oil prices have plunged by over two dollars on figures of 110% unemployment rates reported in USA.

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Naphtha prices in Asia rise as cracks dip to their lowest in about 10 days

Lackluster spot trading has pushed down naphtha cracks to their lowest levels in about ten days. Naphtha prices, however, rose to this weeks high at a time when traders were busy attending the Asia Paacific Petroleum Conference (APPEC).

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Most thermoplastics dip in West Europe in line with input cost declines

Prices of most standard thermoplastics plunged in West Europe in October, in line with falling feedstock costs as per Plastics Information Europe.
Output has been adapted to weaker demand, and imporrts, which had been increasing, were diverted to Asia last month in search of higher prices.

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Reserve Bank of India plans to introduce polymer banknotes

India’s apex bank - Reserve Bank of India (RBI) plans to introduce polymer banknotes. These new notes of denomination Rs 10, will have a life span about four time longer than the normal paper currencyy in circulation at present.

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Exxon Mobil affiliate, Toray to global form JV for battery separator film business

ExxonMobil Chemical’s affiliate TonenGeneral has agreed to co operate with Toray Industries to set up a global joint venture for the battery separator film business. It will develop, manufacture and ssell lithium ion battery (LIB) separator film and introduce next-generation films to the market.

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Strengthening domestic supply to impact India’s polypropylene imports that were robust in H1

India’s Polypropylene imports for the six month period until September 2009 had increased almost three fold vs last year to 230,000 tons. This dramatic increase in import volumes that was driven by sttrong demand may be difficult to maintain.

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Texas Commission on Environmental Quality levied fine on two local petrochemical companies

The Texas Commission on Environmental Quality has levied a fine on two local petrochemical players in the state.
A fine of US$10000 has been imposed on INEOS for releasing more than 7,700 lbs of emisssions from a flare at its Chocolate Bayou facility over a 17-hour period beginning Dec.

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Petkim selects Shaw Group for expansion of ethylene plant

The Shaw Group has been awarded a contract by Petkim Petrochemical Holding AS to provide engineering and procurement services and additional study work for expansion of an ethylene plant in Aliaga, Tuurkey by 10%.

For more details on Petkim selects Shaw Group for expansion of ethylene plant click here

Golf gloves use polyester nanofiber

Teijin Fibers Limited announced that it has begun to supply the high-strength polyester nanofiber NANOFRONT for use in the palms of golf gloves manufactured and marketed under the FootJoy brand. Calleed NANOLOCK, the new product is the world's first golf glove to use nanofiber material, and is now available in Japan applied to products developed for wet conditions.

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Halogen-free, UL 62 certified material for AC power cords

SABIC Innovative Plastics’ flame-retardant (FR) Flexible Noryl* resin has achieved a major milestone as one of the first non-halogenated materials to be used in AC power cords meeting stringent Underwwriters Laboratories (UL) 62 TPE 90 ºC and 105 ºC safety standards.

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Dow and Shenhua commences construction on US$10 bln coal-to-chemical project after a one year delay

After the project was delayed for about a year, Dow Chemical Co and Shenhua Group, China's largest coal miner, have decided to make progress on the US$10 bln coal-to-chemical project in Shaanxi provinnce.

For more details on Dow and Shenhua commences construction on US$10 bln coal-to-chemical project after a one year delay click here

Kuwait's Petrochemical Industries Company starts operations at aromatics plant

Kuwait's Petrochemical Industries Company (PIC) started operations at a US$2 bln aromatics plant this week. The plant is currently operating at about 60-70% capacity, expected to reach 100% capacity bby early December.

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Iran increases polyolefin exports to Pakistan in 2009

Iran’s exports of polyethylene (PE) and polypropylene (PP) to Pakistan are set to double year-on-year in 2009 to 64,000 tons, and surge 17% to 75,000 tons in 2010, as per ICIS. The estimates were baseed on Pakistan customs department data for the January-September 2009 and full year 2008.

For more details on Iran increases polyolefin exports to Pakistan in 2009 click here

Future of the Polyethylene Industry to 2015

The Asia Pacific region accounted for over 43% of the global polyethylene capacity in 2008, and is expected to account for nearly 50% of the planned capacity additions until 2015 as per a report by coompaniesandmarkets.

For more details on Future of the Polyethylene Industry to 2015 click here

Unexpected drop in crude supplies fails to lift oil above US$80

Despite an unexpected dip in US crude supplies, oil prices have not lifted above US$80 a barrel. Falling crude supplies is an indication of recovering demand on investor doubts about the strength of tthe US economy.

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Rebound in Asian export demand foRebound in Asian export demand for US polyethylener US polyethylene

Recovering demand from Asia for US polyethylene (PE) has helped exports rebound after a temporary September slowdown as per ICIS. The export demand is expected to remain strong through at least Novembber.

For more details on Rebound in Asian export demand for US polyethylene click here

Deltamethrin incorporated into polypropylene fiber to protect against malaria

Researchers from Bayer CropScience are the first to have successfully incorporated deltamethrin, its WHO-recommended active ingredient, into polypropylene fiber. The result is a new textile fiber whicch can be used to manufacture mosquito nets that are softer, stronger and remain effective for longer.

For more details on Deltamethrin incorporated into polypropylene fiber to protect against malaria click here

LUKOIL plans to expand naphtha trading operations

By H1-2010, LUKOIL Asia-Pacific plans to expand its trading business in the region, especially in naphtha and fuel oil. The trading company is increasingly relying on exports in a bid to grow and beneefit from sustained demand growth in Asia.

For more details on LUKOIL plans to expand naphtha trading operations click here

Sinopec, SABIC inaugurate petrochemical complex in Tianjin

Sinopec Corp (Sinopec) and Saudi Basic Industries Corp (SABIC) have inaugurated their 50:50 joint petrochemical complex in Tiajin. Sinopec SABIC Tianjin Petrochemical Co Ltd. Was formed to build and ooperate the facility.

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Drastic price fall in USA causes IPEX’s second consecutive decline in 2009

A dramatic fall in prices in USA has caused 2009’s second consecutive decrease on the The ICIS Petrochemical Index (IPEX) fell to 239.50 in November, down 5.15 points from the previous month. Prices hhave now fallen two consecutive months.

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New material with better thermal insulation

A new and patented version of the foam Neopolen P (EPP: expanded polypropylene) with better thermal insulation has been introduced by BASF for devices used in heating, ventilation and sanitary systemss.

For more details on New material with better thermal insulation click here

Braskem posts Q3-09 profits on domestic demand recovery and weaker feedstock costs

Latin America’s largest petrochemicals producer-Braskem SA has posted a profit for Q3-09 on recovering domestic demand and falling feedstock costs. In the quarter, net income rose to 645 mln reais (USS$365 mln) vs net loss of 819 mln reais in Q3-08; and EBITDA at 838 mln reais, exceeded analysts’ expectations.

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Indian Oil, HPCL offer 81,500 tons of naphtha

Naphtha exports from India are on the rise, mainly due to weak domestic demand and consumption that has fallen as a result of increased availability of natural gas in the country. Plants prefer naturaal gas over naphtha as it is cleaner and gives a longer life to units.

For more details on Indian Oil, HPCL offer 81,500 tons of naphtha click here

Marubeni decides against renewal of higher priced naphtha deal with KPC

Higher priced offers have led Japan’s Marubeni to decide against renewal of a contract with Kuwait Petroleum Corp (KPC) for bout 100,000 tons naphtha lifting for the period of December 2009-November 22010.

For more details on Marubeni decides against renewal of higher priced naphtha deal with KPC click here

Oil prices surge in wake of gold's record high

As anxiety rises in markets about the prospects of global economic recovery, gold has escalated and oil is following the lead of gold as a hard asset. Off late, oil and gold have been moving in the saame direction.

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Naphtha supplies to commence from Qatar’s new refinery, to pressure Asian prices

Qatar’s new oil refinery Ras Laffan has come onstream. It is pumping almost 80,000 bpd of middle distillates, 24,000 bpd of gas oil and 52,000 bpd of kerosene and jet fuel. These markets are deeply immpacted by the global recession, adding to pressures in an already oversupplied market.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 2, 2009

CRUDE OIL
Crude oil prices ended the week of November 2, 2009 at US$77 a barrel on the Nymex on bearish economic data that upset confidence about a poteential recovery in energy demand.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 2, 2009 click here

Mitsui and Sinopec to cooperate on phenols and EPT project

Mitsui Chemicals Inc. (MCI) and Sinopec have inked a fundamental agreement to conduct collaboration feasibility for phenols and EPT. The investment for the two operations is expected to total to 60 biillion yen.

For more details on Mitsui and Sinopec to cooperate on phenols and EPT project click here

Seibu Oil Co constructs new 25,000 bpd heavy naphtha reformer at its sole refinery

Japan's Seibu Oil Co Ltd. has constructed a new 25,000 bpd heavy naphtha reformer at its sole refinery, located in Yamaguchi, Western Japan. In 2006, Seibu Oil had planned to build the new unit, calleed a continuous catalyst regeneration platformer, for about 20 billion yen.

For more details on Seibu Oil Co constructs new 25,000 bpd heavy naphtha reformer at its sole refinery click here

Breakthrough In thermoset direct compounding technology

A direct compounding technology that extends thermoset composites to high volume, complex and innovative large parts production has been developed by DSM Composite Resins, Dieffenbacher and Fraunhoferr ICT.

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Competitive PE offers from USA favourable

Naphtha and ethylene prices have climbed in line with oil prices in Europe and Asia. However, advantageous natural gas prices in USA have resulted in ethylene being offered at a sharp discount, resultting in a wide gap in prices in USA and Asia/Europe.

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Petkim and Iran ink MOU to conduct feasibility study for PVC plant in Iran

Petkim, Turkish petrochemical maker and Iran's NPC International have inked an MOU to co operate to conduct a feasibility study on a 300,000 tpa PVC plant in Western Iran, along with upstream plants- a 187,000 tpa chlor-alkali facility and a 301,000 tpa vinyl chloride monomer plant.

For more details on Petkim and Iran ink MOU to conduct feasibility study for PVC plant in Iran click here

Additional supplies to impact polypropylene prices in Asia

Al-Waha Petrochemical Co. in Dubai has announced start up at its new complex, which includes a 450000 tpa polypropylene (PP) plant based on LyondellBasell's Spherizone process technology. Al-Waha is llocated in Al-Jubail Industrial City and was formed in 2006 as a 75:25 JV between Sahara Petrochemicals Co.

For more details on Additional supplies to impact polypropylene prices in Asia click here

Oil prices ended the week at US$77 a barrel on bearish economic data

Oil prices ended the previous week at US$77 a barrel on the Nymex on bearish economic data that upset confidence about a potential recovery in energy demand. In London, Brent crude settled at US$75.200 a barrel.

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Asia Pacific region accounted for 44% of global PE capacity in 2008

Asia Pacific region accounted for 44% of the global polyethylene demand in 2008 and is also the fastest growing region in the world. The growth in the region was due to strong demand from China and Inndia, which have been growing above the world average as per Global Markets Direct.

For more details on Asia Pacific region accounted for 44% of global PE capacity in 2008 click here

Naphtha exports from Indian Oil to rise to 2.5 mln tons in 2009-10 as domestic demand dips

Naphtha exports from India are on the rise, mainly due to weak domestic demand and consumption. Exports of naphtha have grown to 2.5 mln tons from 1.9 mln tons. Domestic naphtha consumption has falleen as a result of increased availability of natural gas in the country.

For more details on Naphtha exports from Indian Oil to rise to 2.5 mln tons in 2009-10 as domestic demand dips click here

Demand for Polyurethane foams to grow

The global recession of 2008–2009 has significantly reduced demand for polyurethane foams in most countries and regions according to a report by CEH Marketing Research. Demand in 2009 will be down by 3–35% depending on the product and country or region.

For more details on Demand for Polyurethane foams to grow click here

PET demand to pick up, to grow at 4.3% pa from 2009–2013

Overall, world Polyethylene terephthalate (PET) polymer consumption will slow further in 2009 as a result of the global recession. However, it is expected to pick up, growing at an average annual ratee of approximately 4.

For more details on PET demand to pick up, to grow at 4.3% pa from 2009–2013 click here

RIL reports fourth consecutive lower quarterly profit

India’s oil and petrochem major Reliance Industries (RIL) has reported a lower quarterly profit for the fourth consecutive time due to shrinking refining margins. Q2-10 net profit declined 6.4% to Rs 3,852 crore, turnover increased 6.

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SCJ’s reports 13% rise in net sales on improved product prices

Siam Cement Group (SCG), Thailand’s largest industrial conglomerate has reported net sales of 64.54 billion baht, a 13% rise in Q3-09 from the previous quarter, on improved product prices. Sales, howeever, dropped 19% year-on-year due to higher prices witnessed last year.

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Petrochemical industry expected to earn taxes of P1 bln pa by 2010 in Bataan

Income in the form of taxes from the petrochemical industry in Limay town is expected to earn the province an estimated P1 billion every year by 2010 to the province of Bataan. Income will start flowiing in when the three mainstream plants expand to 100 downstream plants.

For more details on Petrochemical industry expected to earn taxes of P1 bln pa by 2010 in Bataan click here

ORL’s acquisition of balance 50% stake in Carmel Olefins Ltd by year end

Israel's largest oil refiner Oil Refineries Ltd (ORL) has inked an agreement to acquire the balance 50% stake in Carmel Olefins Ltd by the end of the year held by Israel Petrochemical Enterprises Ltd..

For more details on ORL’s acquisition of balance 50% stake in Carmel Olefins Ltd by year end click here

Latest trends in polyolefin compounding

The markets for polyolefins have been very volatile in the past year with the impact of the global economic crisis and Noru Tsalic at AMI has reviewed the situation. The REACH regulations are still beeing worked out in practice and experts like Steptoe and Johnson are assisting chemical companies in the transition.

For more details on Latest trends in polyolefin compounding click here

Preliminary antidumping duties on PE retail carrier bags imposed in USA

The US Department of Commerce issued affirmative preliminary determinations in the antidumping duty investigations of imports of polyethylene retail carrier bags from Indonesia and Vietnam, and publisshed in the Federal Register an affirmative preliminary determination in the antidumping duty investigation of imports of polyethylene retail carrier bags from Taiwan.

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Unexpected rise in gasoline supplies raise skepticism over recovery: crude oil slides

The Energy Information Administration, on Wednesday, reported an unexpected increase in gasoline stocks by 1.7 million barrels contrary to expectations of a 1 mln barrel fall, and also a rise in crudee supplies bye 900,000 barrels.

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China’s September import data shows record high imports of MEG, PC and EVA

China’s September import data shows record high volumes of imports of monoethylene glycol (MEG), ethylene vinyl acetate (EVA), polyacetal, polycarbonate (PC). Interestingly, physical and future marketts are continuing to show strength, but export and domestic consumption data continues to be weak as per ICIS.

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IIT Kanpur designs polymer knee joint composed

Indian Institute of Technology, Kanpur’s biological science and bio-engineering department has successfully designed an artificial knee joint composed from polymers. These will replace the currently uused metals alloys which need to get replaced after a stipulated time.

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IPI organizes seminar on Marketing

Indian Plastics Institute has organized a series of One Day Seminars on "Make your Competition & Price War Irrelevant with Correct Marketing" from 21-30 November. The timings are from 9 am to 5 pm andd the venues are Mumbai, Bangalore, Chennai, Kolkata, Ahmedabad.

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Reliance announces a hike in polypropylene prices

With effect from 29th October 09, Reliance Industries has hiked the prices of Polypropylene. PP prices will be revised upwards by Rs 3000 for all Sectors. Deemed Prices have been kept unchanged.

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