Further closure of petrochem plants likely in USA amid competition from Middle East and Asia

The US petrochemicals industry will emerge from recession leaner than before following a string of plant closures, but further closures may be in the offing as producers struggle with competition fromm Asia and the Middle East.

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Large South Korean conglomerate Kumho Asiana faces shortage of cash

Faced with a cash crunch, Kumho Asiana Group, one of the biggest conglomerates in South Korea, has decided to sell a controlling stake in its construction business to a state-owned bank for US$2.5 blnn.

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Worries that inflation could derail economic growth in India, China in 2010

The year 2009 was an unexpectedly strong year for the chemical industry in Asia. A strong recovery in Chinese consumption resulted in record-high petrochemical and polymer imports coupled with a boomiing Indian market that is currently much more self-supplied as per ICB in ICIS.

For more details on Worries that inflation could derail economic growth in India, China in 2010 click here

Oil prices spike past US$79, rising for the sixth consecutive day

Oil prices have risen for the sixth consecutive day in Asia, rising past US$79 a barrel, but briefly traded lower after an American Petroleum Institute report of an increase in US inventory levels by 1.

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Oil Refineries concludes acquisition of Carmel Olefins

Israel's largest oil refiner Oil Refineries Ltd. (ORL) has completed the acquisition of balance shares of Carmel Olefins. The companies have completed the transaction announced in October 2009 regardiing the signing of an agreement with Israel Petrochemical Enterprises Ltd.

For more details on Oil Refineries concludes acquisition of Carmel Olefins click here

China-SE Asia’s FTA to open market of 1.7 bln consumers – making it the world’s largest FTA

With effect from January 1, 2010, China and Southeast Asia will embark on a free trade agreement (FTA) that will rival the EU-North American FTA in terms of value and surpass those markets in terms off population.

For more details on China-SE Asia’s FTA to open market of 1.7 bln consumers – making it the world’s largest FTA click here

South Korea posts a US$4.3 bln current-account surplus on increased exports of petrochem, semiconductors

In November, South Korea has posted a current-account surplus of US$4.3 bln for the tenth month, on increased exports of petrochemicals and semiconductors. The current account is the broadest measure of trade in South Korea, tracking the flow of goods, services and investment income.

For more details on South Korea posts a US$4.3 bln current-account surplus on increased exports of petrochem, semiconductors click here

Naphtha prices in Asia at a four-week high

Naphtha prices in Asia have peaked to a four-week high as strong fundamentals continue to boost sentiments. Demand for polymers continues to be strong in China and has kept crackers in Asia running att high rates despite additional capacities coming onstream in China.

For more details on Naphtha prices in Asia at a four-week high click here

Crude oil prices on the rise on signs of economic recovery and cold weather

Crude oil futures rose to US$78 per barrel on the Nymex on encouraging signs of an economic recovery, a cold wave and unrest in Russia and Iran. Climbing by over 75% this year so far, crude oil is esttimated to peak past US$80 by year end.

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Firm start for global polyolefin prices in 2010 with bullish feedstock costs

A firm start is expected for polyethylene in global markets amid persistently rising feedstock costs. Softer demand in Southeast Asia has been seen in the last few weeks of the year. This is because oof the impending implementation on January 1, of the ASEAN-6 free trade agreement, which will largely eliminate duties/tariffs on polymers.

For more details on Firm start for global polyolefin prices in 2010 with bullish feedstock costs click here

SABIC teams up with state fund for US$2.67 bln bond issues

Saudi state-controlled petrochemicals giant SABIC is opting for its first private bond placement to raise 10 bln riyals (US$2.67 bln) to boost its finances and fund expansion plans. Proceeds from the bonds, which will carry maturities of seven years, will help raise financing performance, boost competitiveness and contribute to achieve the company's expansion strategy.

For more details on SABIC teams up with state fund for US$2.67 bln bond issues click here

Bankruptcy Court approves Tronox's alternate plan to Huntsman proposal

Leading producer and marketer of titanium dioxide pigment- Tronox Incorporated has cancelled the auction in connection with its proposed sale of assets to Huntsman Corp. and, received an interim orderr from the U.

For more details on Bankruptcy Court approves Tronox's alternate plan to Huntsman proposal click here

Linde to build two olefin plants in Western Siberia

The Linde Group has won several key contracts for plant engineering and gas supply projects in Russia. Under the terms of these unrelated deals, Linde is building two olefin plants for two chemical cuustomers in Western Siberia.

For more details on Linde to build two olefin plants in Western Siberia click here

Middle Eastern and Indian polyolefin producers margins could erode in 2010

The massive petrochemicals capacities due onstream in 2010 in the Middle East are likely to lead to a supply glut, leading to erosion of margins for polyolefins players in the Middle East and India coompared to 2009 as per ICIS.

For more details on Midddle Eastern and Indian polyolefin producers margins could erode in 2010 click here

Chemtura to sell global PVC additives business to SK Capital

Chemtura Corporation, has entered into a definitive agreement with SK Capital Partners to acquire Chemtura's global PVC Additives business. SK Capital is a New York-based private equity firm focusing on the specialty materials, chemicals and healthcare industries.

For more details on Chemtura to sell global PVC additives business to SK Capital click here

Plantic to set up manufacturing in USA in collaboration with National Starch LLC

Plantic Technologies Limited and National Starch LLC have announced a collaboration to establish a site for the manufacture of Plantic products in the USA. This covers the relocation of one of Planticc's existing proprietary manufacturing lines from Australia to USA, and a new manufacturing facility in USA.

For more details on Plantic to set up manufacturing in USA in collaboration with National Starch LLC click here

Polyone acquires specialty healthcare engineered materials provider

PolyOne Corporation has acquired substantially all of the assets of specialty healthcare engineered materials provider New England Urethane, Inc. (NEU). The purchase price of US$12 mln includes an earrn-out payable in 2011.

For more details on Polyone acquires specialty healthcare engineered materials provider click here

Sinopec completes construction of 1 mln tpa ethylene project at Zhenhai refinery

Sinopec has completed construction on an ethylene project at the Zhenhai refinery in Ningbo, Zhejiang Province. The project will have capacity to produce 1 million tpa of ethylene and has been built aat a total investment outlay of of RMB 23.

For more details on Sinopec completes construction of 1 mln tpa ethylene project at Zhenhai refinery click here

Thai PTT to complete plan to consolidate refining, petrochemical businesses by Q1-10

PTT PCL is on the verge of conclusion of a closely watched plan to consolidate its refining and petrochemical businesses by Q1-2010. Since November 2009, Thailand's top energy firm’s consolidation plaan has been on hold due to a court order to suspend 65 projects at the Map Ta Phut industrial estate, Rayong.

For more details on Thai PTT to complete plan to consolidate refining, petrochemical businesses by Q1-10 click here

Improved outlook for polymers in Europe but run rates to remain low

Plants and production sites across Europe have been running significantly below capacity in a bid to cope with lower demand. Improvement in demand is anticipated in 2010, but utilisation is expected tto remain below pre-economic-slowdown levels as per ICIS.

For more details on Improved outlook for polymers in Europe but run rates to remain low click here

Polyethylene prices to have firm start in 2010 with bullish feedstock costs

Majority of market players anticipate a firm start for polyethylene in global markets amid persistently rising feedstock costs.
Softer demand in Southeast Asia has been seen in the last few weeks off the year.

For more details on Polyethylene prices to have firm start in 2010 with bullish feedstock costs click here

Naphtha prices to remain strong in 2010

Demand from the Asian petrochemical sector remained strong with cracker operators running their plants at high rates amid improved margins for downstream polymers driven by strong demand from China ass per ICIS.

For more details on Naphtha prices to remain strong in 2010 click here

Saudi Kayan inks preliminary agreement with Daelim for petrochemical plant in Jubail

Saudi Kayan Petrochemical Company has signed a letter of intent with South Korea's Daelim Industrial Company to build a petrochemical plant in Jubail. The plant will have the capacity to produce 300,0000 tpa low density polyethylene, and will be part of Kayan's giant petrochemical complex.

For more details on Saudi Kayan inks preliminary agreement with Daelim for petrochemical plant in Jubail click here

Thai govt supports appeal to lift suspension of 19 projects in Rayong

In a bid to shake off the negative sentiment in the market, the Thai national government has supported the appeal to lift suspension on some of the 65 major projects in Mab Ta Phut, Rayong province, aas per ICIS.

For more details on Thai govt supports appeal to lift suspension of 19 projects in Rayong click here

RIL raises cash component almost threefold for LyondellBasell acquisition offer

Reliance Industries Ltd has raised by three fold, its cash component for its acquisition offer for LyondellBasell. The cash component of RIL’s US$12 bln non-binding proposal for the acquisition of thee bankrupt LyondellBasell has been increased from US$2 bln to US$5-6 bln.

For more details on RIL raises cash component almost threefold for LyondellBasell acquisition offer click here

Formosa to continue to expand to improve competitiveness in 2010

Taiwan's sole privately run oil refiner - Formosa Petrochemical Corp., plans to improve company competitiveness in preparedness for the anticipated robust demand for its petrochemical products throughh the middle of 2010.

For more details on Formosa to continue to expand to improve competitiveness in 2010 click here

Oil prices rise on larger-than-expected drop in US energy stocks, OPEC oil output unchanged

Oil prices ended the previous week on an optimistic note, rising by over a dollar as energy stockpiles showed a larger than expected drop amid an intense cold wave in USA. New York's main futures conttract, light sweet crude for delivery in February, rose by US$1.

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LyondellBasell creditors seek to expand examiner's probe to ensure fair evaluation of proposals from potential suitors

Creditors of bankrupt Lyondell Chemical Co asked a US judge to expand an investigation by a court-appointed examiner to ensure the petrochemicals company is fairly evaluating proposals from potential suitors.

For more details on LyondellBasell creditors seek to expand examiner's probe to ensure fair evaluation of proposals from potential suitors click here

Power outage affects operations at Yanbu, deliveries unaffected

A power outage caused by storm and heavy rains in Yanbu has affected operations at Saudi Basic Industries Corp's (SABIC) petrochemicals plants in Yanbu. Deliveries, however remain unaffected. Operatioons at Yansab, Ibn Rushd and Yanpet plants were halted temporarily.

For more details on Power outage affects operations at Yanbu, deliveries unaffected click here

Formosa Petrochemicals mulls collaboration with Sinopec

As relations between Taiwan and the Mainland begin to thaw, Taiwan's Formosa Petrochemical could consider cooperation with China's Sinopec. The tie up will be for the manufacturing business with the TTaiwanese anticipating a majority control.

For more details on Formosa Petrochemicals mulls collaboration with Sinopec click here

Fire at second cracker at BASF’s European facilities

BASF has shut down it’s second European steam cracker after a blaze broke out at the smaller of its two ethylene crackers in Ludwigshafen broke out. The fire has been doused and no injuries have been reported.

For more details on Fire at second cracker at BASF’s European facilities click here

BASF’s Antwerp cracker goes offline after fire

BASF has shut down the 1.08 mln tpa cracker at Antwerp temporarily after a fire over the weekend at BASF Antwerpen. A blaze touched off by a leak in a naphtha feed line triggered the fire Sunday morniing and was brought under control in early afternoon.

For more details on BASF’s Antwerp cracker goes offline after fire click here

Saudi Kayan receives four bids in a retender to build petrochem plant in Jubail

Saudi Kayan Petrochemical Co has received four bids in a retender to build a petrochemical plant at its complex in Jubail. These four tenders for the 210,000 tpa plant are from South Korea's Hyundai EEngineering and Construction as well as Daelim Industrial Company, Taiwan's CTCI and U.

For more details on Saudi Kayan receives four bids in a retender to build petrochem plant in Jubail click here

Daelim Industrial Co awarded contract by Maaden for preliminary work on Jubail petrochemicals project

Saudi Arabian Mining Co (Maaden) has shortlisted South Korea's Daelim Industrial Co for preliminary work on its Jubail petrochemicals project. Construction of the project, a joint venture with Sahara Petrochemicals Co, is expected to be completed in Q3-2012.

For more details on Daelim Industrial Co awarded contract by Maaden for preliminary work on Jubail petrochemicals project click here

KPPC’s aromatics complex officially commences commercial operations

Equate Petrochemical Company has announced that the Aromatics Complex of Kuwait Paraxylene Production Company (KPPC) has officially commenced commercial operations. The US$2 bln state of the art compllex, which is located in Kuwait’s Shuaiba Industrial Area, is to produce paraxylene (PX) and benzene.

For more details on KPPC’s aromatics complex officially commences commercial operations click here

Indian Oil Corp fetches very high premiums for naphtha for Q1 lifting to Itochu

Indian Oil Corp (IOC) has fetched a very high premium on 90,000 tons of naphtha sold for Q1-2010 lifting to Itochu. The premium is six times higher than what it had fetched from Malaysia for parcels llifting in September-December on robust demand and limited supplies.

For more details on Indian Oil Corp fetches very high premiums for naphtha for Q1 lifting to Itochu click here

Celanese Acquires Long-fiber Thermoplastics Business of FACT

Texas based leading global chemical company Celanese Corporation has acquired the long-fiber reinforced thermoplastics (LFT) business of FACT GmbH (Future Advanced Composites Technology) of Kaiserslauutern, Germany, a business unit of The Ravago Group.

For more details on Celanese Acquires Long-fiber Thermoplastics Business of FACT click here

Borealis to stop production of rotomolding resin grades

End of March 2010 will witness the last production of all rotational molding resin grades by polyolefins giant Borealis AG. A large chunk of Borealis rotational molding resin portfolio is produced in company’s high density polyethylene plant in Beringen, Belgium, which is also scheduled for shutdown at the same time.

For more details on Borealis to stop production of rotomolding resin grades click here

Len Blavatnik promoted Access Ind terms US$12 bln offer by RIL for LyondellBasell too low

Access Industries, promoted by Russian-born billionaire Len Blavatnik, feels that the US$12 bln at which RIL has valued LyondellBasell is too low, and lacks merit. It seems that Reliance Industries (RRIL) will have to rethinks its initial offer, as it’s bid fails to factor in the potential turnaround gains of the bankrupt petrochemicals-maker.

For more details on Len Blavatnik promoted Access Ind terms US$12 bln offer by RIL for LyondellBasell too low click here

Crude oil rises amid optimism of demand rise on recovery of global economy

Crude oil for January delivery rose to US$73.43 in electronic trading on the New York Mercantile Exchange. Crude oil prices have risen to levels of US$73 amid optimism of demand increase as the globall economy recovers.

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Limited options for petrochem makers in SE Asia to defer or block the implementation of zero-tariff

Petrochemical producers in Southeast Asia have limited legal options to defer or block the implementation of a zero-tariff regime that will take effect next year, as per ICIS.
It was earlier reporteed that Singapore, Indonesia, Malaysia, the Philippines, Thailand and Brunei are the six members of the Association of South East Nations (ASEAN) that agreed, under a free trade pact to remove import duty for a range of products, including polyolefins, starting 2010.

For more details on Limited options for petrochem makers in SE Asia to defer or block the implementation of zero-tariff click here

An economical new ecological and organically sourced polyamide

Rhodia is introducing a new environmentally friendly polyamide; the organically sourced 6.10 range – as a complement to its polyamide range. In keeping with its commitments as a responsible chemical ccompany, Rhodia is developing a polyamide 6.

For more details on An economical new ecological and organically sourced polyamide click here

Eastman files suit against Indorama to protect IntegRex Technology

Eastman Chemical Company uses the the innovative IntegRex technology for the production of PET. This technology developed by the company is protected through a solid patent portfolio. Eastman has fileed a lawsuit against Indorama companies located in the United States, Europe, and Thailand in connection with their unauthorized use of IntegRex technology.

For more details on Eastman files suit against Indorama to protect IntegRex Technology click here

Antidumping duties on Thai imports of plastic shopping and grocery bags

Thai Companies Master Packaging Co. Ltd. and Thai Plastic Bags Group (TPBG) have been exporting polyethylene retail carrier bags to US. Importers in USA of this merchandise had paid negligible antidummping duty cash deposits at the time of entry will be liable for substantial additional antidumping duties.

For more details on Antidumping duties on Thai imports of plastic shopping and grocery bags click here

Nod from Korean Export Import credit agency to fund JG Summit’s P 34 bln cracker project

Korean Export Import credit agency that is the majorly funding the proposed P34.38 bln naphtha cracker in Batangas, has given the nod of approval for the project financing. As global economies recoverr, the Gokongwei Group has received the nod from the Korean Import-Export Bank, but continues to be in discussion about the financial requirements, leading to delays in project implementation.

For more details on Nod from Korean Export Import credit agency to fund JG Summit’s P 34 bln cracker project click here

Govt to boost increase economies of scale of Indian plastic industry

Help has come for the Indian plastic processing industry from the government. To make the Indian plastic industry increase economies of scale to become globally competitive as compared to processors ffrom USA, China and other countries, the Centre plans to set up plastic clusters or parks across the country.

For more details on Govt to boost increase economies of scale of Indian plastic industry click here

Sentiment in China's local PE market recover on rallying crude

Polyethylene prices in Asia, particularly China were depressed in the previous week, falling by about US$10 for HDPE, US$30 for LDPE, US$20 for LLDPE. Price of all polyethylenes has softened in Asia oon lackluster trading.

For more details on Sentiment in China's local PE market recover on rallying crude click here

New top coat and adhesive polyolefin materials for 3 layer steel pipe coating systems

Dow Chemical Company has introduced a new top coat and adhesive polyolefin materials for 3 layer steel pipe coating systems. DOW HDPE 12110G, a black high density polyethylene top coat material and AMMPLIFY GR 320 Functional Polymer, a grafted adhesive resin will contribute to the long term corrosion protection of oil and gas pipelines.

For more details on New top coat and adhesive polyolefin materials for 3 layer steel pipe coating systems click here

Increasing competitiveness of US polyethylene terephthalate prices

US polyethylene terephthalate (PET) prices are becoming increasingly competitive globally even as contracts rise in December, as per ICIS. The lacklustre market is shrouded by slack demand and squeezeed profit margins.

For more details on Increasing competitiveness of US polyethylene terephthalate prices click here

Polymer-ceramic nanocomposite for pressure and temperature sensing electronic skin

A flexible active-matrix cells with selectively poled bi-functional polymer-ceramic nanocomposite for pressure and temperature sensing skin has been developed in a joint research by the Universities oof Cambridge, Linz and Princeton along with the Joanneum Weiz and the University of Applied Science Jena.

For more details on Polymer-ceramic nanocomposite for pressure and temperature sensing electronic skin click here

Nanocapsules with thin polymer shell find use in protein therapeutics

Delivery of healthy proteins directly into human cells to replace malfunctioning proteins, called protein therapy, is considered one of the most direct and safe approaches to treat diseases. Low stabiility causes the proteins to be frequently broken down and digested by cells' protease enzymes before they reach their target in the body.

For more details on Nanocapsules with thin polymer shell find use in protein therapeutics click here

Despite yo-yoing crude oil prices, ethylene prices in Asia strengthen

Crude oil prices markets have been volatile in the month of December, swinging between US$68 and US$72. Naphtha prices also reacted in line with crude price movement sashaying between US$720 and US$6880 in the same time frame.

For more details on Despite yo-yoing crude oil prices, ethylene prices in Asia strengthen click here

Arkema's production process to be used by 1,000,000 ton PVC plant in China

Anhui Hwasu Co, Ltd, a subsidiary of the Chinese group Huaibei Mining, has opted for Arkema's production process for its new 1,000,000 ton PVC production plant in Luquiao, Anhui Province. The licensinng agreement covers the operation of the Arkema technology, basic engineering, and technical assistance for the plant's startup.

For more details on Arkema's production process to be used by 1,000,000 ton PVC plant in China click here

Dollar at 3 month high vs Euro : crude falls

After climbing up by almost two dollars on the previous day, crude oil for January delivery dropped by a dollar to US$71.6 on the Nymex. A report by the Energy Department that US crude inventories decclined to the lowest since the week ended Jan.

For more details on Dollar at 3 month high vs Euro : crude falls click here

Polymer prices in Europe to rise on feedstock cost increases

Polyethylene producers have witnessed better than expected sales and notations in the month of December as per European Plastics News. These figures have risen beyond the increase in feedstock costs. As compared to November, PE prices were €20-30/ton higher in December as compared with the €7/ton increase in C2 costs.

For more details on Polymer prices in Europe to rise on feedstock cost increases click here

Force majeure on C2, C3 declared by Ineos at German plant

Ineos Group has declared force majeure on ethylene and propylene produced at CologneKöln plant in Germany, following the unplanned closure of Cracker 4. The unresolved technical glitch has interruptedd production since the cracker at Koln on Dec.

For more details on Force majeure on C2, C3 declared by Ineos at German plant click here

Breakthrough in field of flexible memory for use in flexible screens, printed electronics

Several obstacles crowd the way to make electronic devices that are completely flexible. One of the hurdles in making distinctly inflexible and fragile electronic components bend and still function. WWork on flexible screens and printed electronics is progressing and the University of Tokyo looks to have made a significant breakthrough in the area of flexible memory.

For more details on Breakthrough in field of flexible memory for use in flexible screens, printed electronics click here

IRP mulls investment in PET facility in Europe

Despite the economic slowdown, Europe continues to imports about 1 mln tpa of PET. In a bid to address the substantial shortfall in Europe's PET demand, Indorama Polymers Plc is mulling an investment there.

For more details on IRP mulls investment in PET facility in Europe click here

Maintenance shutdown planned by Mitsui Chem in 2010

Japan's Mitsui Chemicals Inc has planned a maintenance shutdown at one of its two naphtha crackers in 2010. Its cracker at Osaka will be shut in third week July for period of 5 weeks, while it will sskip maintenance at its Ichihara cracker.

For more details on Maintenance shutdown planned by Mitsui Chem in 2010 click here

China to stick to WTO commitment: to cut import tariffs on 600 commodities in 2010

China will impose low import tariffs on more than 600 commodities in 2010 to meet its World Trade Organisation (WTO) commitment it made upon joining the organization in 2001 as it strives to restructuure its economy.

For more details on China to stick to WTO commitment: to cut import tariffs on 600 commodities in 2010 click here

Plans to double capacity at Thai monomer JV SCG Chemicals on hold by Mitsubishi Rayon

Of the upcoming projects at Map Ta Phut (the world's eighth-biggest petrochemicals hub) that have been stalled since September, 11 major projects have been allowed by a Thai court to resume on Wednesdday.

For more details on Plans to double capacity at Thai monomer JV SCG Chemicals on hold by Mitsubishi Rayon click here

January naphtha cracks in Europe turn buoyant

Driven by increased exports to Asia and cuts in refinery run rates, January naphtha cracks in Europe turned positive trading at US$1.50 a barrel. The robust surge in exports to Asia is propelling naphhtha prices.

For more details on January naphtha cracks in Europe turn buoyant click here

Increasing ethylene capacity in China will entail additional crude oil imports

Guided by the fact that 50% of China's ethylene demand has to be satisfied by imports, China's largest petrochemical producer Sinopec Corp. plans to augment its ethylene capacities. Its parent, The Siinopec Group has recently accelerated the building of ethylene capacities with a decision to build another 800,000 tpa ethylene project in Wuhan, central Hubei province; a 1 mln tpa ethylene project in Tianjin with Saudi Arabia; and a 1 mln tpa project in Zhanjiang with Qatar.

For more details on Increasing ethylene capacity in China will entail additional crude oil imports click here

Maintenance shutdown at Chevron Phillips’ ethylene units at Port Arthur, Texas

Chevron Phillips Chemical is shutting down ethylene units at its Port Arthur, Texas, plant, for maintenance until Dec. 24. The maintenance activities will be associated with the regeneration of converrters FA-426 A/B.

For more details on Maintenance shutdown at Chevron Phillips’ ethylene units at Port Arthur, Texas click here

Zero tariff within ASEAN could divert Middle Eastern PE supplies to alternate regions

Singapore, Indonesia, Malaysia, the Philippines, Thailand and Brunei are the six members of the Association of South East Nations (ASEAN) that agreed, under a free trade pact to remove import duty forr a range of products, including polyolefins, starting 2010.

For more details on Zero tariff within ASEAN could divert Middle Eastern PE supplies to alternate regions click here

Polyethylenes weaken in Asia

Price of all polyethylenes has softened in Asia this week on lackluster trading. Market movement has been slow on preparation of accounts during end of year; and on hand-to-mouth buying in many countrries.

For more details on Polyethylenes weaken in Asia click here

Novomer, Kodak in bioplastics manufacturing JV with grant from State of New York

Novomer and Kodak are to partner in bioplastics manufacturing partnership with a grant from the State of New York to commercialize the use of catalysts in the manufacturing of polypropylene carbonate (PPC).

For more details on Novomer, Kodak in bioplastics manufacturing JV with grant from State of New York click here

Crude prices dip for ninth straight session

Falling to its lowest level in over two months; light, sweet crude for January delivery dipped to US$69.5 on the Nymex while Brent crude on the ICE futures inched up to US$71.8. Oil fell for the ninthh consecutive day despite gains in equity markets and a lower dollar as growing concerns over crammed US oil inventories persisted.

For more details on Crude prices dip for ninth straight session click here

Formosa declares force majeure on PE and PP at Point Comfort plant

Formosa Plastics Corp. USA is operating under force majeure conditions for polyethylene and polypropylene at its plant in Point Comfort, as per Plastics News. The force majeure was declared on Dec. 5,, one day after a site-wide power outage.

For more details on Formosa declares force majeure on PE and PP at Point Comfort plant click here

Tentative recovery in H2-09 to be sustained in Saudi Arabia thru 2010 if Chinese demand is sustained

The beginning of a tentative recovery in H2-09 should be sustained throughout 2010, provided the revival in Chinese demand is sustained, according to the latest Saudi Arabia Petrochemicals Report by BBusiness Monitor International.

For more details on Tentative recovery in H2-09 to be sustained in Saudi Arabia thru 2010 if Chinese demand is sustained click here

Victrex Polymer Solutions appoints Mumbai based company as distribution partner in India

Victrex Polymer Solutions is entering the Indian market in an aggressive strategic move designed to expand the company’s global footprint and extend market reach into one of the world’s most rapidly eemerging industrial markets.

For more details on Victrex Polymer Solutions appoints Mumbai based company as distribution partner in India click here

International Developments in Plastics Pipes

Jon Nash of AMI Consulting has been conducting extensive studies on the plastics industry in the Middle East and is presenting a market overview at the international conference, Middle East Plastic Piipes 2010, which takes place from 17-19 May 2010 at the JW Marriott Hotel in Dubai.

For more details on International Developments in Plastics Pipes click here

Capacity expansion by SABIC IP in India to meet Asia’s accelerating demand fo Lexan* sheet

SABIC Innovative Plastics announced that it has expanded production, increased capacity and upgraded capabilities at its specialty film and sheet facility in Vadodara, India to continue leading and too support future growth in the region.

For more details on Capacity expansion by SABIC IP in India to meet Asia’s accelerating demand fo Lexan* sheet click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended December 14, 2009

CRUDE OIL
Crude oil prices fell below the US$70/barrel mark in the week of December 14, 2009 as the American dollar continued to strengthen and on conceerns over high inventory levels and lacklustre demand.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended December 14, 2009 click here

Braskem to develop polypropylene from sugarcane

Brazilian chemical company Braskem has announced a research partnership with Novozymes to develop large-scale polypropylene production from sugarcane. The sugar-based propylene production will use NNovozyme's fermentation technology, with the development expected to run for at least 5 years.

For more details on Braskem to develop polypropylene from sugarcane click here

Qapco's investments in Qatar crosses US$3 bln

Global petrochemicals major Qatar Petrochemical Company (Qapco) has invested in excess of US$3 bln in a series of ventures in the petrochemicals industry. With this, Qatar is like to be within the tarrget of achieving a total annual petrochemical production of 28 mln tons by 2012.

For more details on Qapco's investments in Qatar crosses US$3 bln click here

LyondellBasell files amended reorganisation plan proposing a rights issue

LyondellBasell, which sought bankruptcy protection in January, has filed an amended Chapter 11 reorganisation plan with a U.S. court. As per this plan, the bankrupt petrochemicals major has proposed aa US$2.

For more details on LyondellBasell files amended reorganisation plan proposing a rights issue click here

German petrochem industry will continue to struggle, but expects a return to growth in the medium-term

The German petrochemicals industry will continue to struggle against a lingering economic headwind with key petrochemicals consuming industries such as automotive production and construction underperfforming in 2010, but the latest Germany Petrochemicals Report by Business Monitor International (BMI) expects a return to growth in the medium-term.

For more details on German petrochem industry will continue to struggle, but expects a return to growth in the medium-term click here

Shell's plans to expand in Qatar take a back seat in view of an ethane shortage

Qatar recently extended a moratorium on development of all types of new gas-fed industrial projects from 2012 to 2014 to further scrutinize reservoir behaviour of its North Field gas reserves. Shell wwould like to build two crackers and two OMEGA process plants on the same scale as that of Singapore.

For more details on Shell's plans to expand in Qatar take a back seat in view of an ethane shortage click here

Shell's plans to expand in Qatar take a back seat in view of an ethane shortage

Qatar recently extended a moratorium on development of all types of new gas-fed industrial projects from 2012 to 2014 to further scrutinize reservoir behaviour of its North Field gas reserves. Shell wwould like to build two crackers and two OMEGA process plants on the same scale as that of Singapore.

For more details on Shell's plans to expand in Qatar take a back seat in view of an ethane shortage click here

As they prepare for zero tariff within the region, SE Asia's resins makers hope for a deferral

Singapore, Indonesia, Malaysia, the Philippines, Thailand and Brunei are the six members of the Association of South East Nations (ASEAN) that agreed, under a free trade pact to remove import duty forr a range of products, including polyolefins, starting 2010.

For more details on As they prepare for zero tariff within the region, SE Asia's resins makers hope for a deferral click here

ONGC to lend Rs 50 bln for expansion at Mangalore Refinery & Petrochemicals Ltd.

Oil and Natural Gas Corp.'s (ONGC) board has approved a plan to lend Rs 50 billion (US$1.07 bln) to Mangalore Refinery & Petrochemicals Ltd. (MRPL) for the phase-III of refinery expansion and its petrrochemical project.

For more details on ONGC to lend Rs 50 bln for expansion at Mangalore Refinery & Petrochemicals Ltd. click here

Russia may require ethylene imports to serve surging PE capacity

Total petrochemicals sector production levels in Russia are still at about 75% of 1990 levels, although these have recovered from the 1995 low of about 42%, as per Business Monitor Index. When compareed with total industrial output, petrochemicals have clearly lagged behind, but this is expected to change over the next decade.

For more details on Russia may require ethylene imports to serve surging PE capacity click here

Shell's ethylene plant to start up in Bukom in Q1-10

The start up Royal Dutch Shell PLC's new ethylene plant on Bukom Island, Singapore, is as scheduled in Q1-2010, with a nameplate production capacity of 800,000 tpa of ethylene. The plant is part of thhe new Shell Eastern Petrochemicals Complex and will export about half its output, increasing regional ethylene supply.

For more details on Shell's ethylene plant to start up in Bukom in Q1-10 click here

Companies renew MoUs for setting up petrochemical industry in Peru

Brazil's Petroleo Brasileiro, Braskem and state-owned Petroleos del Peru SA have renewed memorandums of understanding (MoUs) targeted towards setting up a petrochemical industry in Peru. Peru is workiing to develop a petrochemicals industry using natural gas from the southern regions, especially from the Camisea natural gas fields.

For more details on Companies renew MoUs for setting up petrochemical industry in Peru click here

Will PE prices rise in Europe despite softening oil and naphtha values?

Oil prices and eventually naphtha prices have started to soften in Europe. Interestingly, markets in Europe anticipate a hike in Polyethylene prices next month, despite low spot prices in December as inventory levels shrink with producers, particularly in the low density polyethylene (LDPE) sector.

For more details on Will PE prices rise in Europe despite softening oil and naphtha values? click here

IEA up revises oil demand estimate for 2010 by about 130,000 bpd

The International Energy Agency is uprevising its demand estimate for 2010 by 130,000 bpd to 86.3 million bpd, as demand increases from the booming Asian economies and the developed nations could starrt consuming more.

For more details on IEA up revises oil demand estimate for 2010 by about 130,000 bpd click here

PP grade with higher toughness to transparent packaging film and sheet has US food compliance

New Borpact BC918CF polypropylene brings higher level of toughness to transparent packaging film and sheet –now also with US food compliance. A new polypropylene heterophasic copolymer for packaging ffilm and sheet offers outstanding deep temperature resistance / toughness together with excellent transparency.

For more details on PP grade with higher toughness to transparent packaging film and sheet has US food compliance click here

Masterbatches offer longer protection against oxygen, CO2 permeation in PET bottles

Clariant Masterbatches has developed two new masterbatches offering longer protection against oxygen and carbon dioxide permeation in polyethylene terephthalate (PET) bottles.
The CESA®-absorb masteerbatches remain stable during handling and processing and avoid the need for special nitrogen treatment, which is often required when using other oxygen absorbers.

For more details on Masterbatches offer longer protection against oxygen, CO2 permeation in PET bottles click here

Anti-microbial technology for custom rotational molding

Bacteria and fungal control has become a rapidly growing concern in many industries as the recent spread of H1N1 reaches pandemic levels. Anti-microbial technology has been introduced for custom rotaational molding by Granger Plastics.

For more details on Anti-microbial technology for custom rotational molding click here

Transportation sector to benefit from new super strong, lightweight nanocomposite polymers

In the new generation aircrafts of today, to save fuel and cut emissions, polymer composites are used extensively, for fuselage and other components. Several aerospace manufacturers had switched to weeight-reducing composites but for a limited range of applications.

For more details on Transportation sector to benefit from new super strong, lightweight nanocomposite polymers click here

Outlook brightening for petrochemical companies in Texas

Texas is home to several key petrochemical players - Dow, Dupont, LyondellBasell, Formosa Plastics Point Comfort and Invista (manufacturer of nylon intermediates). Though still feeble, the petrochemiccal industry here has witnessed a marginal upbeat trend as market sentiments improve and operating rates near normal levels.

For more details on Outlook brightening for petrochemical companies in Texas click here

Gulf petrochemical industry to consider finance of new projects through sukuk

As other finance options become increasingly difficult to tap, the Gulf petrochemical industry could increase reliance on the sukuk, to finance its high-capacity new projects. As other options of longg-term credit financing have faded, the sukuk seems to be the most viable among the financing alternatives for petrochemical projects in the region.

For more details on Gulf petrochemical industry to consider finance of new projects through sukuk click here

Official inauguration of Arvand Petrochemical Complex in February

Iran’s Arvand Petrochemical Complex has neared completion and will be officially inaugurated in February 2010. The complex has capacity to produce over 240,000 tons of polyvinyl chloride (PVC), 660,0000 tons of caustic soda, 340,000 tons of vinyl chloride, and 890,000 tons of ethylene dichloride.

For more details on Official inauguration of Arvand Petrochemical Complex in February click here

Sipchem exports maiden shipment of acetic acid to Asian markets

International Acetyl Co (IAC), a Sipchem affiliate, has exported its first shipment to Asia. IAC produces acetic acid at Jubail at its 460,000 tpa plant that also houses a 50,000 tpa acetic anhydride plant.

For more details on Sipchem exports maiden shipment of acetic acid to Asian markets click here

100% recyclable LLDPE stretch film

Italian manufacturer Manuli has said to have launched one of the most environmentally friendly LLDPE stretch film. This film is free of PVC and plasticizers and is 100% recyclable. The film named Manffood is designed to seal food packaging and can be applied manually or automatically.

For more details on 100% recyclable LLDPE stretch film click here

IEA up revises oil demand estimate for 2010 by about 130,000 bpd

The International Energy Agency is uprevising its demand estimate for 2010 by 130,000 bpd to 86.3 million bpd, as demand increases from the booming Asian economies and the developed nations could starrt consuming more.

For more details on IEA up revises oil demand estimate for 2010 by about 130,000 bpd click here

New LDPE for applications such as flexible, thin-walled container lids

LyondellBasell Industries has launched a new low density polyethylene (LDPE) resin for potential use in a wide range of injection molding and masterbatch applications. The new Lupolen 1800U grade feattures an excellent balance of mechanical properties and a unique combination of easy processability, toughness, softness and dimensional stability.

For more details on New LDPE for applications such as flexible, thin-walled container lids click here

Carbon Nanotubes from Old Plastic Bags: A major development

An "upcycling" method of converting waste plastic bags into nanotubes has been developed at the Argonne National Laboratory in Illinois. In this path breaking method, 1 gm pieces of high or low-densitty polyethylene (HDPE and LDPE) were cooked at high temperatures (700 degrees C) which broke down the chemical bonds of plastic and cause carbon nanotubes to grow on pieces of the cobalt acetate catalyst.

For more details on Carbon Nanotubes from Old Plastic Bags: A major development click here

Dow’s polyols expansion project in Netherlands comes on stream

Dow Chemical has completed polyols expansion at its plant at Terneuzen, The Netherlands. With this expansion, capacity at the site will increase by 180,000 tpa, raising capacity to 530,000 tpa. The pllant is scheduled to come onstream after overshooting a self-imposed completion target by just a few months.

For more details on Dow’s polyols expansion project in Netherlands comes on stream click here

Q-Chem II set to start up by end of month

Q-Chem II, where test runs are underway, will start ethylene production by end of month. Q-Chem II, is a joint venture between Chevron Phillips Chemical Qatar and Qatar Petroleum that will include neww polyethylene and normal alpha olefins (NAO) plants adjacent to the existing Q-Chem complex.

For more details on Q-Chem II set to start up by end of month click here

LyondellBasell creditors support acquisition by Reliance Industries

In a boost to its bid to acquire troubled petrochem major LyondellBasell Industries, Reliance Industries (RIL) has got support from the official, court-recognised committee of unsecured creditors commmittee, which represents the interests of a large number of creditors has urged the court to allow it to directly work with potential investors, including RIL, to arrive at a deal to rescue the company.

For more details on LyondellBasell creditors support acquisition by Reliance Industries click here

First environmental friendly airport-seating solution

Arconas has become the first airport-seating manufacturer to incorporate soy-based BiOH® polyols from Cargill. BiOH polyols give airport passengers the opportunity to rest comfortably on a more enviroonmentally responsible choice.

For more details on First environmental friendly airport-seating solution click here

Braskem's Board approves loan

The Board of Braskem has authorized the company to obtain up to 350 mln Brazilian reals (US$200 mln) in 2010. With the authorization of the board, the company can tap local and international debt markket to raise up to BRL350 million per operation at any time next year.

For more details on Braskem's Board approves loan click here

Titan Petrochemicals plans emergency restructuring

Titan Petrochemicals Group plans to restructure US$315.4 million worth of 8.50% guaranteed senior notes due 2012 to improve its capital structure and extend the notes' maturity.
For each US$1,000 inn principal of the existing notes, the debt-laden oil trader and shipper proposes to offer: US$199 in principal of new notes due 2015, 3,075 new shares and a cash payment of US$12.

For more details on Titan Petrochemicals plans emergency restructuring click here

Oil prices slide on larger than expected surge in US stockpiles

Oil prices have slipped for the sixth consecutive session. New York's main futures contract, light sweet crude for delivery in January, slumped by almost two dollars to an eight week low of US$70.6, wwhile Brent North Sea crude dipped by 2.

For more details on Oil prices slide on larger than expected surge in US stockpiles click here

Anti dumping in China and India interrupts trade flows in the Gulf

The newly adopted petrochemical anti dumping duties in by India and China has interrupted trade flows in the Gulf region, as per chief executive of SABIC. These anti-dumping measures have been taken aas a form of protectionism which is affecting trade flows, and could press for action to be taken as an immediate measure.

For more details on Anti dumping in China and India interrupts trade flows in the Gulf click here

Global trends in stretch and shrink film

The stretch and shrink film industry is among the fastest growing and most dynamic flexible packaging segments in Europe, and has been studied by Andrew Reynolds, Research Director at Applied Market IInformation.

For more details on Global trends in stretch and shrink film click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended December 7, 2009

CRUDE OIL
Oil prices have fallen in the week of December 7, 2009 to levels below US$76 under pressure from a stronger dollar which outweighed reaction ffrom better-than-expected US jobs data.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended December 7, 2009 click here

New clarifying agent for highly transparent injection-blow moulded PP containers

The market for very clear thick-walled bottles and jars that has remained largely untapped by polypropylene is now opening up as the result of a cooperative project between Milliken Chemical, market lleader for clarifying agents for polypropylene, and precision blow mould maker ADOP France.

For more details on New clarifying agent for highly transparent injection-blow moulded PP containers click here

Middle East to become a leader in polyolefins market

Global polyolefins market did not manage to avoid the influence of the crisis, broken down in the second half of 2008. The polyolefins markets (low density polyethylene (LDPE), linear low density polyyethylene (LLDPE), high density polyethylene (HDPE), polypropylene (PP)) that demonstrated impressive growth in previous years showed signs of decline in H2-2008 as per a report by Merchant Research & Consulting Ltd.

For more details on Middle East to become a leader in polyolefins market click here

PolyMirae installs metallocene catalyst-based PP technology at a Spheripol line in Yeochun

PolyMirae (PMC), a joint venture between Daelim and LyondellBasell Industries, has successfully started the operation of LyondellBasell's Metocene polypropylene (PP) technology. The company has installled this metallocene catalyst-based PP technology to one of its Spheripol lines in Yeochun, Korea.

For more details on PolyMirae installs metallocene catalyst-based PP technology at a Spheripol line in Yeochun click here

Mitsubishi co-develops new propylene production process with JGC

Mitsubishi Chemical Corp. (MCC) and JGC Corporation (JGC) have jointly developed a new propylene production process based on each company's proprietary technologies. JGC and MCC have been co-developinng the new technology since 2007 to produce propylene using feedstock from among methanol, dimethylether and olefin products whose efficient utilization has not been exploited.

For more details on Mitsubishi co-develops new propylene production process with JGC click here

Japan’s ethylene production up by over 18% in November vs year ago levels

Japanese ethylene production has increased by 18.1% to 634,700 tons in November 2009 from levels of 537,600 tons seen in November 2008 as most key players increased cracker run rates in a bid to beneffit from the demand surge from China.

For more details on Japan’s ethylene production up by over 18% in November vs year ago levels click here

Iran’s petrochemicals industry could stagnate or contract in 2010

Iranian petrochemicals industry is headed for contraction or stagnation in 2010 with prospects for significant project delays and lower rates of capacity utilization, according to Business Monitor Intternational (BMI).

For more details on Iran’s petrochemicals industry could stagnate or contract in 2010 click here

Developing regions hold key to PE growth

A new report suggests that investors should look to developing regions for growth in polyethylene (PE). As per the report by Townsend Solutions, global consumption of polyethylene resin declined -3.7%% in 2008, as 66.

For more details on Developing regions hold key to PE growth click here

Chinese PVC Industry faces domestic overcapacity and rise in imports

Chinese PVC productivity rose from 5.23 mln tons in 2003 to 15.81 mln tons in 2008. Chinese PVC apparent consumption reached 9.27 mln tons with the productivity surplus of 6.54 mln tons in 2008. As peer shcri.

For more details on Chinese PVC Industry faces domestic overcapacity and rise in imports click here

Workers’ agitation demanding permanent jobs and wage hike stalls Mitsubishi

A workers’ agitation demanding permanent jobs and wage hikes has stalled activity at Mitsubishi’s purified terephthalic acid (PTA) plant at Haldia. The Trinamul wants permanent jobs for 150 casual worrkers and a raise for the rest.

For more details on Workers’ agitation demanding permanent jobs and wage hike stalls Mitsubishi click here

EPC contract completed for propane dehydration unit at 510,000 tpa propylene unit in Tobolsk

Tobolsk-Polymer LCC and the Italian company Tecnimont S.p.A. have concluded an Engineering Procurement and Construction (EPC) contract for a propane dehydration unit for 510,000 tpa of propylene in Toobolsk.

For more details on EPC contract completed for propane dehydration unit at 510,000 tpa propylene unit in Tobolsk click here

LG Chem selects UOP technology to boost ethylene production

LG Chem Ltd. has selected UOP LLC distillation and mass transfer equipment to increase ethylene production at LG’s petrochemical plant in Yeosu, South Korea. UOP’s SimulFlow technology will be employeed to increase throughput of feedstock, allowing LG Chem to increase its current ethylene production starting in 2010 when the unit comes on line.

For more details on LG Chem selects UOP technology to boost ethylene production click here

Itochu, Mitsui mull acquisition of 25% stake in ONGC Petro-additions

Itochu and Mitsui & Co have offered to acquire a 25% stake in Oil and Natural Gas Corporation’s ONGC Petro-additions (OPaL), a special purpose vehicle promoted by ONGC and Gujarat State Petroleum Corpporation (GSPC).

For more details on Itochu, Mitsui mull acquisition of 25% stake in ONGC Petro-additions click here

Sinopec inks strategic agreements with state governments to build 800000 ton ethylene facility

Asia’s largest refiner by capacity- Sinopec, has signed strategic cooperation agreements with the governments of Hubei Province and Wuhan on an ethylene project in Wuhan. To be built at an investment outlay of RMB 17.

For more details on Sinopec inks strategic agreements with state governments to build 800000 ton ethylene facility click here

Rising input costs, supply constraints could continue to prop up aromatic prices in Asia

Open-spec naphtha has peaked to a 14 month highs at levels of US$750/MT CFR Japan this week, after regional traders shrugged off the Dubai debt crisis that unfolded the previous week, according to ICIIS.

For more details on Rising input costs, supply constraints could continue to prop up aromatic prices in Asia click here

New PO material for steel pipe coating: Dow’s breakthrough

DOW Chemical Company has achieved a breakthrough by introducing a new top coat and adhesive polyolefin material for 3 layer steel pipe coating systems. The new Dow materials meet stringent performancee requirements for coating large diameter steel pipes when used in 3 layer coating system with a fusion bonded epoxy.

For more details on New PO material for steel pipe coating: Dow’s breakthrough click here

Berry Plastics acquire 100% stake of Pliant Corp

Berry Plastics is a leading manufacturer and marketer of plastic packaging products in Indiana. Based in Indiana, the company has 80 manufacturing facilities worldwide and over 16,000 employees. Compaany announced that it has completed the previously announced acquisition of 100% of the common stock of Pliant Corporation.

For more details on Berry Plastics acquire 100% stake of Pliant Corp click here

PTT Polyethylene Company’s LLDPE plant completed

Toyo-Thai completed a 400,000 tpa linear low density polyethylene (LLDPE) plant for PTT Polyethylene Company Limited (PTTPE) at Padaeng Industrial Estate in Thailand. This LLDPE plant based on Univatiion technologies is a down stream project of 1,000,000 tpa ethylene plant.

For more details on PTT Polyethylene Company’s LLDPE plant completedp click here

No further action in Australia for imposing duties on LLDPE imports

Australian Customs & Border Protection Service (ACBPS) will take no further action on claims that Canadian and US resin producers have been selling linear low density polyethylene at below cost on thee Australian market to deliberately disadvantage Melbourne-based plastics company Qenos Pty.

For more details on No further action in Australia for imposing duties on LLDPE imports click here

Schulman acquires ICO, global polymer powder and plastic film concentrates producer

In a move that will strengthen its position in global markets for rotational molding and masterbatch materials, Schulman Inc. has acquired ICO Inc. in a transaction valued at almost US$ 191.4 mln. Thee global compounder and distributor based in Fairlawn has signed a definitive deal to buy Houston-based ICO, a global polymer powder and plastic film concentrates producer.

For more details on Schulman acquires ICO, global polymer powder and plastic film concentrates producer click here

Oil prices yield to pressure from strengthening dollar

Oil prices dropped by over one dollar to levels below US$76 under pressure from a stronger dollar which outweighed reaction from better-than-expected US jobs data.
Crude futures in New York fell to US$75.

For more details on Oil prices yield to pressure from strengthening dollar click here

ExxonMobil, Total are the most fined among all oil refiners and chemical makers in southeast Texas

ExxonMobil and Total are the most fined companies are almost all oil refiners and chemical manufacturers in southeast Texas. In a single industrial accident, Total Petrochemical's sprawling oil refineery in southeast Texas sprayed tons of sulfuric acid and carbon monoxide into the sky.

For more details on ExxonMobil, Total are the most fined among all oil refiners and chemical makers in southeast Texas click here

EU reports overcapacity in several sectors of China’s chemicals industry, including PVC

As per a new report, there is overcapacity in several sectors of China’s chemicals industry, including PVC, ethylene derivates, polyester and coal-to-chemicals projects. Excess manufacturing capacity in China is increasing trade tensions with the rest of the world and holding back innovation and development of the country’s domestic industries according to the report by European Union Chamber of Commerce in China as reported in Plastics News.

For more details on EU reports overcapacity in several sectors of China’s chemicals industry, including PVC click here

Explosion at Rosneft petrochemical facility in East Siberia kills one

An explosion at Rosneft’s petrochemical plant in Angarsk in East Siberia has killed one worker. According to preliminary reports, the explosion was caused by a hydrogen leak at a high-pressure pump. TThe blast destroyed a total of 120 sq mts of the roof at the facility.

For more details on Explosion at Rosneft petrochemical facility in East Siberia kills one click here

With guarded optimism, SABIC estimates 2010 as a positive year

Saudi Basic Industries Corp (SABIC), the world's number one petrochemicals company by market value, has "guarded optimism" that prices will recover in markets of USA, China and Europe. Demand in Europpe was still sluggish but business in the Far East, including China, was much better for SABIC and business in India was also very good, Mohamed al-Mady said in an interview.

For more details on With guarded optimism, SABIC estimates 2010 as a positive year click here

Oil prices hover around US$76

As supplies rise in the United States, oil prices have been mixed. Prices have slipped marginally on the Nymex to US$76.4, while Brent North Sea crude for delivery in January rose to settle at US$78.336.

For more details on Oil prices hover around US$76 click here

Long term impact of 65 projects stalled on environmental concerns by Central Administrative Court order

Of the upcoming projects at Map Ta Phut (the world's eighth-biggest petrochemicals hub) that have been stalled since September, 11 major projects have been allowed by a Thai court to resume on Wednesdday.

For more details on Long term impact of 65 projects stalled on environmental concerns by Central Administrative Court order click here

Chemical companies with stronger balance sheets to go ahead with M & As in 2010

BASF SE, Bayer AG and Royal DSM NV have performed better in 2009 proven by stronger balance sheets and management efforts to sharpen focus. These companies are likely to be most active in mergers and acquisitions in the chemical industry in 2010.

For more details on Chemical companies with stronger balance sheets to go ahead with M & As in 2010 click here

Sinopec’s expansion at Maoming will add a 2.4 mln tpa hydrocracker and a 2.2 mln tpa catalytic cracker

China Petroleum & Chemical Corp. (Sinopec) plans to expand the capacity of its second-biggest oil-processing plant by 33% to meet rising fuel demand. Capacity will be hiked at the Maoming plant to 18 mln tons (360,000 bpd) from 13.

For more details on Sinopec’s expansion at Maoming will add a 2.4 mln tpa hydrocracker and a 2.2 mln tpa catalytic cracker click here

Russia’s state-owned bank and Italian insurer to ink deal to fund OAO Sibur Holding’s PP plant construction in Siberia

Vnesheconombank, Russia’s state-owned development bank and Italian insurer SACE SpA may sign an agreement tomorrow on funding for OAO Sibur Holding’s US$2 bln construction of a 500,000 tpa polypropyleene plant in Tobolsk, Siberia.

For more details on Russia’s state-owned bank and Italian insurer to ink deal to fund OAO Sibur Holding’s PP plant construction in Siberia click here

Alfa Laval receives order for supplies to integrated refinery and petrochemical complex in China

Alfa Laval, a world leader in heat transfer, centrifugal separation and fluid handling – has received an order for Alfa Laval Packinox heat exchangers for an integrated refinery and petrochemical commplex in China.

For more details on Alfa Laval receives order for supplies to integrated refinery and petrochemical complex in China click here

BASF to bring back Ludwigshafen cracker on stream

BASF has brought back its cracker with capacity to produce 220,000 tpa ethylene at Ludwigshafen, idled in April, on stream. The company had, in September, announced a “warm-up phase” for the cracker. Affected by a weakening demand, BASF announced a minimum 3-month provisional shut down of its 220,000 mtpa capacity steam cracker at Ludwigshafen site starting mid-April.

For more details on BASF to bring back Ludwigshafen cracker on stream click here

Shell pulls out of Sinopec-KPC refinery JV in China, doors open for others

Pursuant to its strategy to focus on the upstream process, Royal Dutch Shell has halted talks of co operating with China Petroleum and Chemical Corp. (Sinopec) and Kuwait Petroleum Corp. in a major reefinery project in China.

For more details on Shell pulls out of Sinopec-KPC refinery JV in China, doors open for others click here

18 unfinished projects of Siam Cement impacted by court ruling on environmental concerns

18 unfinished projects - mostly petrochemical operations, of Siam Cement have been impacted at the Map Ta Phut industrial estate. These 18 projects that involve an investment outlay of 57.5 bln baht ((US$1.

For more details on 18 unfinished projects of Siam Cement impacted by court ruling on environmental concerns click here

Laffans Petro inks manufacturing JV with Huntsman’s Singapore arm

In a bid to explore opportunities to develop markets in the Indian sub-continent, Asia Pacific and globally, ethylene oxide derivatives manufacturer Laffans Petrochemicals Ltd. has signed a formal agrreement with Huntsman Corporation Singapore Pte.

For more details on Laffans Petro inks manufacturing JV with Huntsman’s Singapore arm click here

Efforts to hike PVC prices fail in USA

As feedstock costs continue to rise sharply since mid-summer, PVC suppliers in USA have tried to hike offers. Efforts by suppliers to raise polyvinyl chloride (PVC) prices by 3 cents/lb (US$66/ton) inn November failed in the US vinyl segment, according to ICIS.

For more details on Efforts to hike PVC prices fail in USA click here

H2-January open-spec naphtha contract rises

H2-January open-spec naphtha contract was notionally assessed at US$743.50-746.50/ton CFR (cost and freight) Japan, up around $1-4/ton on the previous day, as per ICIS Pricing. The first-half Februaryy contract valued at $737-740/ton CFR Japan.

For more details on H2-January open-spec naphtha contract rises click here

New biodegradable fibers advance stent technology and brain surgery

Stents that keep weakened and flabby arteries from collapsing have been true life-savers. But after six months, those stents are no longer needed - once the arteries are strengthened, they become unneecessary.

For more details on New biodegradable fibers advance stent technology and brain surgery click here

Developments in thin wall packaging

The Packaging Community has undertaken a survey into decision making in packaging across 9 European countries and concluded that there is a big move towards environmentally-friendly and sustainable prroducts.

For more details on Developments in thin wall packaging click here

Majority of upcoming projects in Map Ta Phut stalled over environmental concerns

Of the upcoming projects at Map Ta Phut (the world's eighth-biggest petrochemicals hub) that have been stalled since September, 11 major projects have been allowed by a Thai court to resume on Wednesdday.

For more details on Majority of upcoming projects in Map Ta Phut stalled over environmental concerns click here

Global demand for thermoplastic elastomers to rise by 6% pa through 2013

Global TPE demand will rise by 6% pa through 2013 reaching 4.2 mln tons as per a report by Freedonia. China will make up 42% of new demand. Excluding China, TPE sales will remain concentrated in the ddeveloped markets of the US, Western Europe and Japan, especially for higher performance materials such as TPVs and copolyester elastomers (COPEs).

For more details on Global demand for thermoplastic elastomers to rise by 6% pa through 2013 click here

Crude oil prices fall as the market awaits US crude oil inventory report

Crude oil prices dipped below US$77 per barrel as equity markets fell flat in New York Wednesday. Light, sweet crude prices settled at US$76.72 on the Nymex. Earlier in the day, oil fell as the markett awaited the weekly crude inventory report from the United States.

For more details on Crude oil prices fall as the market awaits US crude oil inventory report click here

World's first silicon-on-plastic integration technology for solar cells and LCD TFT

Teijin Limited (Teijin) has developed the world's first technology to integrate silicon onto general-purpose plastic substrates, working in cooperation with NanoGram Corp. (NanoGram), a world-leading company in the development of nano materials.

For more details on World's first silicon-on-plastic integration technology for solar cells and LCD TFT click here

SIBUR in talks for petrochemical plants in Iran

SIBUR- Russia's largest petrochemical company is in talks with Iran over the construction of petrochemical plants in Iran. The oil and gas resources encourage development of major chemical complexes iin Iran.

For more details on SIBUR in talks for petrochemical plants in Iran click here

Tightening of credit in the Middle East region – a likely consequence of Dubai crisis

Asian petrochemical players seem cautious of the consequences of the Dubai financial crisis.
A likely consequence would be a tightening of credit confined to Dubai and, to a certain extent, the Midddle East region, as per ICIS.

For more details on Tightening of credit in the Middle East region – a likely consequence of Dubai crisis click here

Growth in petrochem demand contributes to positive export growth in South Korea

Growing demand for semiconductors, displays and petrochemicals have helped South Korean exports posting positive growth for the first time in a year as the country posted a trade surplus for the 10th straight month in November.

For more details on Growth in petrochem demand contributes to positive export growth in South Korea click here

LyondellBasell to shutter a PP line at Wesseling, Germany

By the end of the year, LyondellBasell plans to shut down its smallest and oldest polypropylene (PP) line in Wesseling, Germany, thereby reducing capacity at the site by 110,000 tpa. The economic unvviability of the current polypropylene operating rate at Wesseling has triggered this shutdown.

For more details on LyondellBasell to shutter a PP line at Wesseling, Germany click here

Coca-Cola products in North America to be packaged in plant-based containers

Very shortly, Coca-Cola products in North America will be packaged in plant-based containers. Made from mono-ethylene glycol (MEG) derived from sugarcane and molasses, the new PlantBottle will be readdy for a North American debut at the 2010 Winter Olympics in Vancouver.

For more details on Coca-Cola products in North America to be packaged in plant-based containers click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 30, 2009

CRUDE OIL
At the end of the week of November 30, 2009, light, sweet crude for January delivery plunged by over four dollars to US$73.7 on the Nymex, whiile Brent crude settled at US$75.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended November 30, 2009 click here

A new, eco-friendly packaging for crop protection products

A new, eco-friendly packaging for crop protection products has been launched by BASF Crop Protection. Developed with farmers to meet their needs, this novel packaging system offers easy handling, timee savings as well as improved safety, whilst reducing agriculture's carbon footprint.

For more details on A new, eco-friendly packaging for crop protection products click here

Petrochem majors in the Middle East to transcend borders-focus on M&A

After several delays, as the last of the expansion projects of the Middle East draws to an end, the Middle East petrochem majors are looking to transcend borders with overseas mergers & acquisitions aas per ICIS.

For more details on Petrochem majors in the Middle East to transcend borders-focus on M&A click here

207,000 tons of naphtha offered from India for Dec-March

Refiners from India have offered 207,000 tons of naphtha for Dec-March lifting. Oil & Natural Gas Corp (ONGC), Mangalore Refinery & Petrochemicals (MRPL) and Bharat Petroleum Co Ltd (BPCL) have issueed five separate tenders.

For more details on 207,000 tons of naphtha offered from India for Dec-March click here

ExxonMobil to expand at Rotterdam aromatics plant

ExxonMobil Chemical has announced the completion and start-up of an expansion at its Rotterdam Aromatics Plant, making this world-scale plant ExxonMobil’s largest paraxylene production facility. Paraxxylene capacity at the plant has been increased by 25% to 700,000 tons, and benzene capacity increased by 20% to 830,000 tpa.

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A new environment friendly polyamide produced primarily from renewable materials

Rhodia is introducing a new environmentally friendly polyamide – the organically sourced 6.10 range – as a complement to its polyamide range. In keeping with its commitments as a responsible chemical company, Rhodia is developing a polyamide 6.

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PE and PP demand in China estimated to rise by about 38% in 2009 from a year ago

Driven by robust domestic consumption, polyethylene (PE) and polypropylene (PP) demand in China is estimated to rise by as much as 38% in 2009 from a year ago levels as per a report by CBI as reportedd by ICIS news.

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Pertamina mulls legal action against TPPI over US$300 mln debt

Indonesia’s state oil and gas firm PT Pertamina is considering legal action against aromatics company PT Trans-Pacific Petrochemical Indotama (TPPI) over a US$300 million debt stemming from a 2004 prooduct swap agreement.

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Plastics in Sewerage and Drainage Pipe

In October 2009 AMI launched the first international conference on plastics in sewerage and drainage pipes in Germany. Noru Tsalic began by detailing the trends and developments in the European markeet, predicting a decline in overall new construction into 2010.

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Compounds based on blends of thermoplastic starch with biodegradable copolyester and polymers like PP, LLDPE

Teknor Apex’s bioplastics division has developed a new range of compounds based on blends of thermoplastic starch (TPS) with petrochemical polymers, including polypropylene, linear lowdensity polyethyylene, and biodegradable copolyester.

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Sasol seeks to improve competition compliance systems

Sasol- South African petrochemical group, has committed itself to further enhance its competition law compliance processes and systems, saying it had mandated its executive management to do so.
The ccompany noted in a statement at its annual general meeting on Friday that the board of directors regretted instances of collusion that occurred in the Sasol Wax GmbH and Sasol Nitro businesses.

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EBRD to lend €3 mln to leading Polish PET maker

The EBRD is to lend €3 mln to one of Poland’s leading producers of Polyethylene Terephthalate (PET). The loan will help SK Eurochem to adjust to new market conditions. The EBRD loan will finance SK Euurochem’s working capital needs in a bid to provide longer-terms of payment required by Polish clients, as well as help the company diversify its sources of competitively-priced raw materials in order to ensure the continuity of production process.

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Crude oil plunges to six week lows as Dubai crisis unveils

Light, sweet crude for January delivery plunged by over four dollars to US$73.7 on the Nymex while Brent crude on the ICE futures exchange settled at US$75.3. Crude oil futures have plunged to six weeek lows as the Dubai crisis unveiled over the weekend.

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