Hefty decreases announced in China’s import PE market

In China, two global producers announced April prices for HDPE and LLDPE c4 film with decreases ranging between US$90-130/ton, pointing to softer market sentiment, other overseas producers’ lower offeer levels and thin demand, as per Chemorbis.

For more details on Hefty decreases announced in China’s import PE market click here

European offers could boost Turkey’s PP market in April

For the past couple of months, European PP imports have been a competitive force in the Turkish market, as producers siphoned off excess supplies to its neighbor because of an imbalance caused by poorr demand since the start of the year, as per Chemorbis.

For more details on European offers could boost Turkey’s PP market in April click here

Rising propylene encourages European PP sellers to mull hikes in Italy

After the April propylene contract in Europe settled with an additional increase from the previous contract settlement, PP sellers have started to talk of price hikes of up to €110/ton for April, as pper Chemorbis.

For more details on Rising propylene encourages European PP sellers to mull hikes in Italy click here

Dow’s new catalyst system improves PP manufacturing process, end-product quality

Dow Chemical has expanded its catalyst system offering with CONSISTATM D7000 Donor, designed specifically for high melt flow (HMF) applications. The first product in Dow's new portfolio of advanced ccatalyst systems, it enables polypropylene manufacturers to achieve the performance differentiation needed to enter premium markets, while realizing the benefits of better on-stream time, better plant operability and reduced production costs.

For more details on Dow’s new catalyst system improves PP manufacturing process, end-product quality click here

Formosa Plastics Corp reports net profit after last years loss

As the economic recovery increased demand and product prices, Taiwan’s Formosa Plastics Corp returned to a profit. Net income was NT$7.71 bln (US$243 mln) for the three months ended Dec. 31, compared with a loss of NT$14.

For more details on Formosa Plastics Corp reports net profit after last years loss click here

Showa Denko to start production of VGCFTM-X Carbon Nanotube at 400 tpa Oita plant

Showa Denko K.K. (SDK) has completed a 400 tpa plant for VGCFTM-X, a new grade of carbon nanotube with an optimized design for resin composite applications. After a trial run, a commercial production is to begin next month.

For more details on Showa Denko to start production of VGCFTM-X Carbon Nanotube at 400 tpa Oita plant click here

Talks on Taiwan-China proposed economic cooperation framework agreement to commence in Taiwan

A second group of Chinese officials arrived in Taiwan for groundwork for the second round of cross-Taiwan Strait talks on a proposed economic cooperation framework agreement (ECFA). They will join Tanng Wei, head of the Department of Taiwan, Hong Kong and Macao Affairs under China's Ministry of Commerce and Wang Zheng, deputy chief of the Department of Economy under the Taiwan Affairs Office, in Taiwan since last week.

For more details on Talks on Taiwan-China proposed economic cooperation framework agreement to commence in Taiwan click here

BPI is ranked as Europe’s largest polyethylene film extruder producer

Leading industry consultants, AMI, has just published the eighth edition of its report on the Corporate performance and ownership among polyethylene film extruders in Europe. In the last edition, afteer 15 years at the top, British Polythene Industries, was pushed into second place in volume terms by the German group, RKW.

For more details on BPI is ranked as Europe’s largest polyethylene film extruder producer click here

DuPont Performance Polymers announces price increases

DuPont Performance Polymers has announced price increases for certain polymer products in Europe, Middle East and Africa (EMEA) effective April 15 or as contracts allow. These increases are necessary to maintain value and to support sustainable growth.

For more details on DuPont Performance Polymers announces price increases click here

Recycled plastics with coffee-aroma

A new, unique coffee-aroma polymer has been developed by Axion Polymers by blending mixed WEEE and post-consumer retail waste plastics with spent coffee grounds. The plastic recycling specialist belieeves this is the first time that waste from coffee has been used in this way.

For more details on Recycled plastics with coffee-aroma click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 29, 2010

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Crude prices for May delivery fell to US$80 a barrel on Friday, amid volatile trading, as investors scout for clear signals that the global ecconomic recovery will continue.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 29, 2010 click here

Persistent hike in American propylene outpaces other global markets

Spot propylene prices continued their strong upward movement in USA last week, leading producers to nominate hefty price increases on April contracts, as per Chemorbis. These increases have put US proopylene at a premium when compared with prevailing propylene prices in other major global regions, but has so far failed to trigger propylene imports by American buyers.

For more details on Persistent hike in American propylene outpaces other global markets click here

Hike in propylene spot prices in Europe needed to fill gaps in supply

Propylene spot prices in Europe need to rise further if the gaps in supply are to be filled, as per ICIS. Traders said that the market would begin to get some relief and return to some balance when sppot prices rise to levels that would open the arbitrage and attract deep-sea volumes away from the US market.

For more details on Hike in propylene spot prices in Europe needed to fill gaps in supply click here

Dow makes energy-saving insulation and air sealing products environment friendly

Dow Chemical has concluded its two-year project to transform its line of energy-saving insulation and air sealing products to a more sustainable manufacturing technology in North America. The iconic BBlue™ STYROFOAM™ insulation helps conserve energy and reduce carbon dioxide emissions from homes and buildings.

For more details on Dow makes energy-saving insulation and air sealing products environment friendly click here

Qatar, Total to invest jointly in energy sector in Africa

Total and Qatar have reached an agreement for joint investment in energy projects in Africa. The Memorandum of Understanding is said to cover the whole spectrum of the energy sector. No financial detaails of the agreement have been disclosed and the JV is also unspecified about the projects to pursue in Africa.

For more details on Qatar, Total to invest jointly in energy sector in Africa click here

Coastal microbes may offer a smart solution to clean up plastic contamination in the oceans

Coastal microbes may offer a smart solution to clean up plastic contamination, according to a new research. The researchers from the University of Sheffield and the Centre for Environment, Fisheries aand Aquaculture Science have shown that the combination of marine microbes that can grow on plastic waste varies significantly from microbial groups that colonize surfaces in the wider environment.

For more details on Coastal microbes may offer a smart solution to clean up plastic contamination in the oceans click here

BP to expand India operation with a 1 mln ton petrochemical plant for Rs 3,500 crore

British Petroleum (BP), one of the world's largest energy and petrochemical companies, plans to expand its India operation by setting up a 1 mln ton petrochemical plant. To be built at an investment oof Rs 3,500 crore, the plant may come up in Gujarat.

For more details on BP to expand India operation with a 1 mln ton petrochemical plant for Rs 3,500 crore click here

Rompetrol to expand HDPE capacity by 70% by March 2011

Rompetrol Petrochemicals, the petrochemical division of the Rompetrol Group, will increase the capacity of the high density polyethylene installation (HDPE) by more than 70% by March 2011, the total vvalue of the investment being estimated to approximately US$18 mln.

For more details on Rompetrol to expand HDPE capacity by 70% by March 2011 click here

IDB approves US$120 mln contribution to finance a refinery and petrochem project in Jubail

The Islamic Development Bank (IDB) has approved a US$120 mln contribution for financing a mega Jubail refinery and petrochemicals project, Kingdom of Saudi Arabia to be built at a total cost of US$12..

For more details on IDB approves US$120 mln contribution to finance a refinery and petrochem project in Jubail click here

Handshaking particles programmed to offer a type of architecture to enhance creation of synthetic materials

Physicists at New York University have created "handshaking" particles that link together based on their shape rather than randomly. Their work, reported in the latest issue of the journal Nature, marrks the first time scientists have succeeded in "programming" particles to join in this manner and offers a type of architecture that could enhance the creation of synthetic materials.

For more details on Handshaking particles programmed to offer a type of architecture to enhance creation of synthetic materials click here

Firm trend in propylene and BD, softening in ethylene beyond April in USA

Lifted mainly by tight supply resulting from a series of cracker outages in 2010, US olefins prices were on a sharp uptrend, as per ICIS. After demand collapsed during the worst economic crisis of 20008, olefins are moving at full speed in 2010, delivering the kind of return that seemed unimaginable after demand collapsed at the end of 2008.

For more details on Firm trend in propylene and BD, softening in ethylene beyond April in USA click here

Gasoil, fuel oil fall in Asia, naphtha rises in line with crude

Crude futures rose as they found support from a weaker US dollar, equity market gains, and upbeat economic data from Japan and South Korea. Gasoil and fuel oil swaps fell in Asia as naphtha rose in liine with a crude oil rise.

For more details on Gasoil, fuel oil fall in Asia, naphtha rises in line with crude click here

Competitive PS source from Central Europe mulls €80 hike for April in Italy

PS offers from Central Europe are considered most competitive alternatives in the spot market through March, as sellers preferred to apply a smaller hike of €20/ton for regional offers in view of the persistently poor demand.

For more details on Competitive PS source from Central Europe mulls €80 hike for April in Italy click here

Lower feedstock PTA, MEG, PX contracts pull down benchmark PET prices in China

In China, domestic benchmark PET prices for April were announced with decreases while market players highlight that overall offer levels are in line with the theoretical costs based on the March feedsstock contracts despite spot prices for these feedstocks gaining some lost ground after the second half of last week, as per Chemorbis.

For more details on Lower feedstock PTA, MEG, PX contracts pull down benchmark PET prices in China click here

Polyolefin trade flows in 2008 show vulnerability of European producers over the next few years on rising pressure from Middle East imports

Volume of trade in Western Europe (intra-regional plus imports) for all grades of polyolefins and polyvinyl chloride (PVC) fell by between 3% and 18% in 2009 as per ICIS. Interestingly, at the same ttime, imports from the Middle East actually increased.

For more details on Polyolefin trade flows in 2008 show vulnerability of European producers over the next few years on rising pressure from Middle East imports click here

Oil prices rise after ending previous week at US$80

Crude prices for May delivery fell by over 50 cents to end the previous week at US$80 a barrel, amid volatile trading, as investors scout for clear signals that the global economic recovery will contiinue.

For more details on Oil prices rise after ending previous week at US$80 click here

JG Summit may revive plans to build Philippines’ first naphtha cracker on improving economy

JG Summit Holdings Inc. which will triple its cash from selling shares in its airline unit and reserve a record budget for expansion plans as a rebound in the economy is expected to increase consumer spending in Philippines.

For more details on JG Summit may revive plans to build Philippines’ first naphtha cracker on improving economy click here

38% of 6 mln tons of ethylene capacity coming onstream in China: China to reduce imports

Asia will add record naphtha cracking capacities in 2010 at a time when new Middle East plants are boosting output. 6 mln tons of capacity is expected to come onstream in this year, out of which 38% wwill come up in China alone.

For more details on 38% of 6 mln tons of ethylene capacity coming onstream in China: China to reduce imports click here

Resource-efficient PET foam core for the composite materials industry

Thanks to innovative technolo­gies, Armacell is now able to manufacture foam cores used in trans­port, wind turbine construction or shipbuilding, from the recyclate of PET bottles. So in future the coompany is going one step further and offering not just a fully re­cyclable foam core, but a product which is manufactured from a recycled raw material.

For more details on Resource-efficient PET foam core for the composite materials industry click here

LyondellBasell not part of Kazakhstan petrochemicals complex

Kazakhstan will commence the integrated petrochemical complex project in the Atyrau region on its own. Inability to find partners for the development and indecision n part of LyondellBasell on projectt participation since January, has compelled to company to start the development on its own.

For more details on LyondellBasell not part of Kazakhstan petrochemicals complex click here

PE producers forced to agree to steep discounts to achieve April sales

Asian PE producers have been forced to agree to steep discounts from March done deal levels to achieve sales for April. As per Chemorbis, sell offers to the Chinese market failed to not attract much bbuying interest after agreeing to large discounts on initial April offers, forcing producers to concede to an additional round of decreases to conclude deals.

For more details on PE producers forced to agree to steep discounts to achieve April sales click here

A repeat of extraordinary polymer import volumes of 2008 into China by Western companies unlikely in 2010

The US and China are currently unable to reach a compromise on the dispute over the Yuan's strength against the US dollar. The US President could succumb to domestic political pressure and introduce mmeasures to protect jobs, resulting in increased tariffs on Chinese imports.

For more details on A repeat of extraordinary polymer import volumes of 2008 into China by Western companies unlikely in 2010 click here

An outstanding flame retardant grade included in line of PLA-based materials

The demand for plastics obtained from renewable assets is growing indeed, and the introduction of a material range featuring bioplastics is thus mandatory for a reference compounder Italian polymer suupplier LATI Industria Termoplastici SpA.

For more details on An outstanding flame retardant grade included in line of PLA-based materials click here

Despite gains in spot ethylene and VCM, US PVC offers fail to move higher in global markets

In testimony to the poor demand for PVC due to weak economic conditions (PVC is highly correlated to GDP growth), US PVC prices have failed to find get boosted by higher input costs in the country, ass per Chemorbis.

For more details on Despite gains in spot ethylene and VCM, US PVC offers fail to move higher in global markets click here

Domestic PE prices down revised in Indonesia

In Indonesia, domestic PE prices have moved south for the third consecutive week, bringing local offers down to levels last seen at the beginning of 2010, as per Chemorbis. Domestic producers reportedd reducing their prices by $50/ton for both LLDPE film and HDPE film while also cutting their offers for other HDPE grades by US$40-50/ton, citing softening prices in the import market along with sluggish demand.

For more details on Domestic PE prices down revised in Indonesia click here

PVC buyers in Italy anticipate price rollover for April

In Italy, some sellers particularly from Central Europe opened the month of March on a firm note asking for increases of up to €50/ton, in a bid to improve margins, as per Chemorbis. However, some Wesst European sources sustained February prices, offering competitive alternatives to regional buyers at the low end of the ranges.

For more details on PVC buyers in Italy anticipate price rollover for April click here

Formosa not in talks with Sinopec regarding investment in China

Taiwan's Formosa Plastics Group is not in talks with China Petroleum Corp (Sinopec Group) on any joint investments in China.
Earlier in the week, Formosa was reported to be planning to collaborate wwith Sinopec Zhenhai Refining & Chemical Co.

For more details on Formosa not in talks with Sinopec regarding investment in China click here

Saudi Aramco, Total to raise US$8 bln in debt financing for refinery and petrochemical project

Saudi Aramco and Total SA expect to raise US$8 bln in debt financing for a joint refinery and petrochemical project for Satorp in the “coming months”. The US$8 bln debt package includes the sale of Isslamic bonds, or sukuk.

For more details on Saudi Aramco, Total to raise US$8 bln in debt financing for refinery and petrochemical project click here

Aramco, Dow mull petrochem complex relocation to Jubail

Saudi Aramco and Dow Chemical are considering relocation of their planned US$20 bln plus petrochemical complex to Jubail or Ras Azzour from Ras Tanura. The complex at Ras Tanura was planned to producee 8 mln tpa of petrochemicals.

For more details on Aramco, Dow mull petrochem complex relocation to Jubail click here

Shell announces start up of ethylene cracker at SEPC in Singapore

With the commencement of on-specification ethylene production, Shell has announced the start up of the ethylene cracker at Shell Eastern Petrochemicals Complex (SEPC) in Singapore. The cracker is locaated adjacent to the Shell Pulau Bukom Refinery, which has been modified to enable it to supply the cracker with feedstock.

For more details on Shell announces start up of ethylene cracker at SEPC in Singapore click here

Continued recovery for petrochemical companies in the Gulf in 2010

Economic indicators point to continued recovery for chemical companies in 2010, including a positive development for producers in the Middle East, global chemical industry output is forecast to increaase 4.

For more details on Continued recovery for petrochemical companies in the Gulf in 2010 click here

Crude oil futures fall as dollar strengthens vs the euro

The euro has plunged to its lowest level in 10 months on worries that Greece's debt situation would require help from the International Monetary Fund. As the US dollar has strengthened, oil prices havve dipped as a stronger dollar discourages investors from buying commodities priced in US dollars.

For more details on Crude oil futures fall as dollar strengthens vs the euro click here

Poor demand causes lower PVC import offers in Egypt

In Egypt, competitive prices from the local PVC producer EPC and distributors are affecting the already poor demand for imports as buyers prefer to wait in the sidelines before making import purchasess as per Chemorbis.

For more details on Poor demand causes lower PVC import offers in Egypt click here

Firmer April outlook for LDPE in Italy

Over the past week, supported by the firm energy markets, spot ethylene prices in Europe, which had been tracking a mainly stable path since the beginning of February, recorded a weekly jump of €25/toon, as per Chemorbis.

For more details on Firmer April outlook for LDPE in Italy click here

Initial PP, PE offers for April by SE Asian producers significantly reduced

Several producers in Southeast Asia have announced their initial April offers for both PP and PE to the regional market, with significant decreases. As per Chemorbis, in the PP market, a Thai producerr announced initial April offers with decreases of US$50-60/ton from March to US$1340-1350/ton for homo-PP injection and raffia, US$1360/ton for PP film, all on a CIF SEA, cash basis.

For more details on Initial PP, PE offers for April by SE Asian producers significantly reduced click here

Oil prices dip to US$81 on demand concerns on reports of rise in crude inventories

This week’s latest reports have shown a rise in crude oil inventories in USA, intensifying concerns of a demand recovery in industrialized nations as Europe struggles to manage Greece's debt crisis. TThe dollar strengthened against a basket of currencies, reduingc the appeal of commodities for investors.

For more details on Oil prices dip to US$81 on demand concerns on reports of rise in crude inventories click here

Patent granted to electrically conductive polymer, ElectroPhen

A materials patent has been granted for an electrically conductive polymer, ElectroPhen to cleantech materials startup Bac2. In its raw state, ElectroPhen is one billion times more conductive than othher polymers and its characteristics can be tailored to each application through the addition of graphite, metal powders, plasticisers and reinforcers.

For more details on Patent granted to electrically conductive polymer, ElectroPhen click here

A bio-based polymer roof coating that reduces load on heating and cooling systems

A new material made from cooking oil and polymer is used to produce a roof coating that morphs its optical properties – reflecting the sun’s rays on hot days and absorbing the rays when it’s cold. Thiis results in reducing the load on heating and cooling systems.

For more details on A bio-based polymer roof coating that reduces load on heating and cooling systems click here

UAE upgrading more naphtha into petrochemicals

Naphtha prices command a respectable premium over crude oil prices. However, these premiums shrunk during the recession and could narrow again as naphtha supplies are forecast to increase globally. Loow profit margins for naphtha producers have triggered major chemicals projects in the UAE.

For more details on UAE upgrading more naphtha into petrochemicals click here

Sinopec Maoming ethylene plant sees an improvement in output

Production at Sinopec Maoming Petrochemical Corp's ethylene facility was at a standstill for a period of two months. The ethylene facility was shut for regular maintenance and equipment repairs in Jannuary and February, resulting in large revenue loss.

For more details on Sinopec Maoming ethylene plant sees an improvement in output click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 22, 2010

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Crude oil prices ended the week of March 22, 2010 at a weaker note. Towards the end of the week, oil prices fell by over US$1.50- its largest one-day dip in three weeks, as the US dollar firmed against foreign currencies, negatively impacting investment flows into oil and other commodities.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 22, 2010 click here

Asian PVC producers announced offers for April to China

Two Asian PVC producers have announced their new PVC k67-68 offers to China for April, indicating rollovers.
A major Taiwanese producer announced new offers at US$1040/ton CFR China main port, subjeect to 6.

For more details on Asian PVC producers announced offers for April to China click here

Improving sentiment in China’s domestic polymer market as April approaches

Inside China, domestic offers for many polymer products deteriorated throughout March as slower-than-expected post-holiday demand burdened many sellers with excess stock levels which they have been stteadily working off throughout the month, as per Chemorbis.

For more details on Improving sentiment in China’s domestic polymer market as April approaches click here

Braskem mulls second green polyethylene plant after first plant start up by end 2010

Latin America's largest petrochemicals company - Braskem, is mulling the option of a second plant to produce polyethylene from sugar cane-based ethanol, upon completion of the first plant start up aroound October at the Triunfo plant.

For more details on Braskem mulls second green polyethylene plant after first plant start up by end 2010 click here

Suspension of PTT's gas-separation plant in Map Ta Phut to impact revenue targets

PTT Group's polymer marketing arm- PTT Polymer Marketing, has made a downward revision of its revenue target for 2010 from Bt71 bln to Bt50 bln due to the suspension of PTT's sixth gas-separation plannt in Map Ta Phut.

For more details on Suspension of PTT's gas-separation plant in Map Ta Phut to impact revenue targets click here

A single, multifunctional polymer material that can decontaminate biological and chemical toxins

In an ongoing effort to mirror the ability of biological tissues to respond rapidly and appropriately to changing environments, scientists from the McGowan Institute for Regenerative Medicine have synnthesized a single, multifunctional polymer material that can decontaminate both biological and chemical toxins.

For more details on A single, multifunctional polymer material that can decontaminate biological and chemical toxins click here

Nanoparticles that can seek out its target after being injected into the bloodstream

Nanoparticles that successfully deliver RNA interference in cancer patients have been developed by US scientists. The team has created a nanoparticle drug that smuggles its RNA-interfering payload passt the body's defence systems and drop it on to cancer cells - the first example of a nanoparticle that can seek out its target after being injected into the bloodstream.

For more details on Nanoparticles that can seek out its target after being injected into the bloodstream click here

GAIL seeks assured gas supply from Qatar for US$1.3 bln Qatari petrochem plant with RIL

India’s state owned oil major GAIL India Ltd has sought assured natural gas supply from Qatar to set up a US$1.3 bln petrochemical plant with Reliance Industries in the gas-rich nation. Last year’s prreliminary discussions with Qatar Petrochemical Company (QAPCO) are being followed by detailed discussions about the project.

For more details on GAIL seeks assured gas supply from Qatar for US$1.3 bln Qatari petrochem plant with RIL click here

Spot styrene prices gain momentum in Asia, Europe with higher crude, benzene

In Asia, spot styrene prices rose by US$30/ton FOB Korea over the past week in line with higher oil and benzene prices. As per Chemorbis, crude oil prices gained US$2.40/bbl in the last week, pushing Asian benzene prices higher by US$38/ton over the past week despite the slight softening on Friday.

For more details on Spot styrene prices gain momentum in Asia, Europe with higher crude, benzene click here

February petrochem naphtha imports in Japan rise by over 80% y-o-y

Japan's naphtha imports for petrochemicals in February 2010 increased by 84% vs February 2009. Imports of naphtha for ethylene production amounted to
2,012,598 kilolitres (1,396,060 tons) last month,, according to the Ministry of Economy, Trade and Industry.

For more details on February petrochem naphtha imports in Japan rise by over 80% y-o-y click here

Kuwait Petroleum sells 80,000 tons of spot naphtha at premiums similar to last month

Kuwait Petroleum Corp (KPC) has sold nearly 75,000-80,000 tons of spot naphtha for April lifting at premiums in the low US$20/ton above Middle East quotes on a free-on-board (FOB) basis. These levels of premiums are similar to previous levels despite talk of a softer market ahead.

For more details on Kuwait Petroleum sells 80,000 tons of spot naphtha at premiums similar to last month click here

Increased vigilance needed from ethylene producers in US and Europe as new supplies commence from Middle East, China

2008 was a tough year for ethylene producers. Demand from key customers such as the construction and automotive sectors was poor as Western economies limped to recovery, as per ICIS. Margins were weakk and the lowest seen for several years in the US, Europe and Asia.

For more details on Increased vigilance needed from ethylene producers in US and Europe as new supplies commence from Middle East, China click here

Oil prices have largest one day fall in three weeks

Oil prices fell by over US$1.50- its largest one-day dip in three weeks, as the US dollar firmed against foreign currencies, negatively impacting investment flows into oil and other commodities. Oil pprices dipped to US$80.

For more details on Oil prices have largest one day fall in three weeks click here

Hyundai to hand over polypropylene plant to PetroVietnam by the end of May

Plant contractor Hyundai plans to hand over a 150,000 tpa polypropylene plant in Dung Quat oil refinery complex to the investor PetroVietnam. About 99.4% of construction has been completed and a triall production is scheduled for end of April.

For more details on Hyundai to hand over polypropylene plant to PetroVietnam by the end of May click here

HMC Polymers to increase annual capacity of polypropylene at plant in Map Ta Phut by 300,000 tons

HMC Polymers will inaugurate its PP plant in Map Ta Phut after capacity expansion in Q2-10. Annual polypropylene production capacity has been increased by 300,000 tons in addition to the existing capaacity of 450,000 tons in a bid to serve growing demand for polypropylene both domestically and internationally.

For more details on HMC Polymers to increase annual capacity of polypropylene at plant in Map Ta Phut by 300,000 tons click here

LyondellBasell reorganization delays finance of Kazakh petrochemical plant

The Development Bank of Kazakhstan, which was to finance a US$6 billion natural-gas chemical plant has decided to delay the funding as the project’s strategic partner, LyondellBasell Industries seeks to reorganize.

For more details on LyondellBasell reorganization delays finance of Kazakh petrochemical plant click here

Maintenance turnaround planned at Tuntex Petrochemicals’ PTA plant in Tainan

Taiwan’s Tuntex Petrochemicals plans to undertake a maintenance turnaround at its 450,000 tpa PTA plant located in Tainan in May or June, 2010.


For more details on Maintenance turnaround planned at Tuntex Petrochemicals’ PTA plant in Tainan click here

April naphtha exports from India reduce as IOC halves exports on start of new cracker

April naphtha exports from India are expected to fall by 50,000-100,000 tons from levels of 900,000 tons seen in March as IOC halves its naphtha exports for the month. Export volumes from India for Maarch have been at the highest level seen in 2010.

For more details on April naphtha exports from India reduce as IOC halves exports on start of new cracker click here

Guangzhou Petrochemical shuts 160,000 bpd CDU unit after fire

Guangzhou Petrochemical (a unit of Sinopec) has shut its 160,000 bpd crude distillation unit (CDU) after a fire when four pumps leaking oil were ignited. The cause of the leakage is still under investtigation.

For more details on Guangzhou Petrochemical shuts 160,000 bpd CDU unit after fire click here

Indian producers reduce domestic PP, PE offers

According to distributors in India, domestic producers in the country announced price significant reductions on their PP and PE offers to the local market as per Chemorbis. Domestic producers loweredd their offers for all PE grades by INR5000/ton (US$110/ton) while offers for all PP grades were reduced by INR3000/ton (US$66/ton).

For more details on Indian producers reduce domestic PP, PE offers click here

Excess stocks in China depressing sentiments in global PE markets

In China, traders and distributors are slowly working off excess stock levels that were built up based on overly optimistic demand growth forecasts amid high crude oil prices seen at the start of the year, as per Chemorbis.

For more details on Excess stocks in China depressing sentiments in global PE markets click here

Another force majeure tightens PP prices in Europe

Technical issues have pushed INEOS to declare force majeure from its Grangemouth PP plant in the UK on 16 March. This has compounded an existing tight supply caused by shortage of propylene at LyondelllBasell’s Carrington, UK, that prompted a force majeure on PP supply earlier in the week, as per ICIS.

For more details on Another force majeure tightens PP prices in Europe click here

Indonesia’s Tri Polyta plans 30% capacity hike at PP plant

In anticipation of growing domestic demand, Indonesia’s largest polypropylene producer - PT Tri Polyta Indonesia, is to increase PP capacity to 480,000 tpa at Cilegon, West Java. The expansion projectt was embarked upon in Q3-09at an investment outlay of US$30 mln, and is scheduled to be complete by March 2011.

For more details on Indonesia’s Tri Polyta plans 30% capacity hike at PP plant click here

Sudden shutdown at Haldia Petrochemicals’ revamped 676,000 tpa naphtha cracker

An unspecified problem has compelled a sudden shutdown at Haldia Petrochemicals’ newly revamped 676,000 tpa naphtha cracker. The duration of the shutdown is not certain.
HPL resumed operations arounnd late January 2010, after a 75 day shutdown that started in late October for 30% capacity expansion.

For more details on Sudden shutdown at Haldia Petrochemicals’ revamped 676,000 tpa naphtha cracker click here

Resin’s high-end performance for food handling equipment saves time and money

SABIC Innovative Plastics’ Ultem* polyetherimide (PEI) resin offers the highest performance across a balance of properties of virtually any thermoplastic in the global plastics industry. Time and timee again the material proves to be the ideal recipe for top-end food service and food processing applications.

For more details on Resin’s high-end performance for food handling equipment saves time and money click here

Dow Chemical to pursue investment in Thailand, no plan to shift to other AEAN countries

Dow Chemical plans to continue with its commitment to pursue its investment in Thailand for long-term and sustainable growth. Dow is undeterred by the Map Ta Phut crisis, and has no plan to shift to oother ASEAN destinations, thanks to the company having a strong local partner in Siam City Cement (SCG).

For more details on Dow Chemical to pursue investment in Thailand, no plan to shift to other AEAN countries click here

Royal Dutch Shell to officially inaugurate Pulau Bukom petrochemical complex

Royal Dutch Shell will officially inaugurate its Pulau Bukom petrochemical complex - Shell Eastern Petrochemicals Complex (SEPC), on May 4. Estimated to cost US$3 bln, the project has been almost fivee years in the making.

For more details on Royal Dutch Shell to officially inaugurate Pulau Bukom petrochemical complex click here

Saudi Aramco mulls change of location of petrochemicals complex planned at Ras Tanura

Saudi Aramco is mulling a change in the location of its US$17 bln petrochemicals complex planned at the Gulf port of Ras Tanura, as per Meed. The company is faced with major difficulties with the currrent site and is working on a feasibility study for other potential locations.

For more details on Saudi Aramco mulls change of location of petrochemicals complex planned at Ras Tanura click here

April PE offers indicate rollovers to decreases in China’s import market

In China, April PE offers from overseas producers indicate rollovers to decreases for the next month. As per Chemorbis, a major Taiwanese producer elected to keep LLDPE c4 film and HDPE film prices att March levels at US$1430/ton and US$1370/ton, respectively, on CFR China main port, subject to 6.

For more details on April PE offers indicate rollovers to decreases in China’s import market click here

LDPE prices could see further hike for April in Italy

In Italy, March business is being conducted with increases of €20-60/ton for LDPE on the back of tight supplies though the monthly ethylene contract settled at a rollover, as per Chemorbis. Many buyerrs have no option but to accept the hike requests as they are unable to satisfy their LDPE needs easily.

For more details on LDPE prices could see further hike for April in Italy click here

Sluggishness in PVC demand across the globe

Global PVC markets are witnessing lackluster demand. Sluggishness in PVC demand since the beginning of 2010 has been seen in the Mediterranean, while markets of Turkey and Egypt have been so slow thatt they have remained indifferent to March increases in Asia, as per Chemorbis.

For more details on Sluggishness in PVC demand across the globe click here

An eco-friendly range of soundproofing materials

A new eco-friendly range of soundproofing materials that can reduce the impact of noise in a variety of flooring applications is the latest innovation to emerge from a long-term collaboration between Huntsman Polyurethanes and manufacturer WPT GmbH.

For more details on An eco-friendly range of soundproofing materials click here

Change in Saudi Arabian pricing for ethane, LPG, naphtha could affect competitiveness of investments

Saudi Arabian feedstock pricing arrangements for ethane, liquefied natural gas (LPG) and naphtha could change in 2011, affecting the competitiveness of existing and future investments as per ICIS.
Etthane is currently still priced at around 75 cents/mBTU and there is a formula for LPG, based on a discount from prevailing CFR Japan naphtha prices.

For more details on Change in Saudi Arabian pricing for ethane, LPG, naphtha could affect competitiveness of investments click here

Protective packaging demand expected to rise 6.2% pa

US demand for protective packaging is forecast to rise 6.2% pa to US$5.2 bln in 2014, reflecting an upswing in manufacturing output as the US economy recovers from The Great Recession, says a new studdy by Freedonia Group.

For more details on Protective packaging demand expected to rise 6.2% pa click here

OPEC measures will prevent global oil markets getting too tight

OPEC will take measures to prevent global oil markets getting too tight, as stated by Saudi Arabia, indicating that it will not withdraw from placing more barrels into the market to suppress runaway ooil prices.

For more details on OPEC measures will prevent global oil markets getting too tight click here

NatureWorks plans to sell a range of polymer-grade lactides

NatureWorks LLC will now offer for sale a range of polymer-grade lactides. Produced from lactic acid, these value added intermediates are used to produce Ingeo™ biopolymer, the first commercial-scale biopolymer that comes 100% from annually renewable resources instead of oil.

For more details on NatureWorks plans to sell a range of polymer-grade lactides click here

Water droplet formation on a polymer can be controlled by exposing the surface to short pulses of light

Water droplet formation on a polymer can be controlled by exposing the surface to short pulses of light as researched by scientists at the Singapore Institute of Manufacturing Technology of A*STAR andd Nanyang Technological University, Singapore.

For more details on Water droplet formation on a polymer can be controlled by exposing the surface to short pulses of light click here

Mold-Masters® opens state-of-the-art production facility in South India

Mold-Masters® announced today that it has opened a state-of-the-art production facility in Coimbatore, India to complement the Global Design Centre opened in December 2006. This new facility, now commmencing operations, symbolizes a significant step in Mold-Masters’ investment and capabilities in the growing Indian market.

For more details on Mold-Masters® opens state-of-the-art production facility in South India click here

Report finds recycling of biopolymers most effective form of waste disposal

A report for UK government refutes persistent claims that recycling is a waste of time, calls for better facilities and an increase in incineration. Recycling is almost always the best way to get rid of waste, even when it is exported abroad.

For more details on Report finds recycling of biopolymers most effective form of waste disposal click here

Indian Oil Corp, BPCL offer naphtha for April

Indian Oil Corp (IOC) has sold about 60,000 tons of April-loading naphtha at premiums of US$23-24/ton to IOC's price formula on a free-on-board (FOB) basis. These premium levels are similar to its preevious deal.

For more details on Indian Oil Corp, BPCL offer naphtha for April click here

PVC sellers less optimistic about likely direction of Southeast Asia markets

PVC demand has been relatively stronger than demand for other polymer products in Southeast Asia, keeping prices on a steady to firm trend even as prices for other polymers have begun to slip in line with weaker demand from China.

For more details on PVC sellers less optimistic about likely direction of Southeast Asia markets click here

Offers for local, import PS move lower in China

In China, domestic and regional producers have reduced their offer levels this week in response to softening demand and bearish market sentiment, as per Chemorbis. In the local market, two B-grade prooducers reported concluding some deals with discounts of CNY700-800/ton (US$103-117/ton) from their initial offer levels, with deals done ex-warehouse China, cash inc VAT at US$1352-1377/ton without VAT for GPPS and with the same terms at US$1440-1452/ton without VAT for HIPS.

For more details on Offers for local, import PS move lower in China click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 15, 2010

CRUDE OIL
Oil prices have dipped below US$81 a barrel in the week of March 15, 2010 on release of data showing a drop in US consumer confidence that hass renewed concerns about energy demand in USA.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 15, 2010 click here

Egyptian Petrochemicals Holding Co receives bids for US$2 bln petrochemicals complex

Egyptian Petrochemicals Holding Co has said it has received bids for a contract to build a US$2 bln petrochemicals complex at Alexandria, on Egypt's northern Mediterranean coast as per Meed. The list of bidders include Saipem, Tecnimont, Toyo Engineering & Construction, and Samsung Engineering & Construction.

For more details on Egyptian Petrochemicals Holding Co receives bids for US$2 bln petrochemicals complex click here

Stronger Chinese yuan could benefit domestic petrochem industry

China can import more volumes of petrochemical raw materials at less cost if it were to abandon pegging the yuan to the US dollar and allow the Chinese currency to appreciate, as per ICIS. This will hhowever, affect the export-driven industries.

For more details on Stronger Chinese yuan could benefit domestic petrochem industry click here

Braskem and Grupo Idesa ink US$2.5 bln deal with Pemex for petrochemical complex in Mexico

Brazilian petrochemicals giant Braskem SA and Mexico’s Grupo Idesa SA de CV have formalized an agreement with Pemex Gas y Petroquímica Básica to build a US$2.5 bln petrochemical complex in Coatzacoalccos, Mexico, to include an ethylene cracker and three polymerization plants, as per Plastics News.

For more details on Braskem and Grupo Idesa ink US$2.5 bln deal with Pemex for petrochemical complex in Mexico click here

Egyptian PVC producer maintains offer levels

A source from the local PVC producer EPC reported that the producer elected to maintain their offer levels for PVC k67-68 for the rest of the month at EGP5600/ton (US$1022) on ex-Alexandria, cash not including VAT basis, as per Chemorbis.

For more details on Egyptian PVC producer maintains offer levels click here

Faced with high propylene costs, PP producers struggle in Asia

PP producers in Asia continue to struggle to conclude deals at prices sufficient to cover their theoretical production costs based on spot propylene prices as per Chemorbis. Slower than expected post--holiday demand in China has pushed PP buyers throughout the region to the sidelines in anticipation of retreating prices on slackening demand from China.

For more details on Faced with high propylene costs, PP producers struggle in Asia click here

Faced with high propylene costs, PP producers struggle in Asia

PP producers in Asia continue to struggle to conclude deals at prices sufficient to cover their theoretical production costs based on spot propylene prices as per Chemorbis. Slower than expected post--holiday demand in China has pushed PP buyers throughout the region to the sidelines in anticipation of retreating prices on slackening demand from China.

For more details on Faced with high propylene costs, PP producers struggle in Asia click here

Russia’s biggest PET plant under construction at Kaliningrad

Russian oil and chemicals group JSC Alco-Naphtha is constructing a 240,000 tpa PET facility-Russia’s biggest PET plant to date in the western city of Kaliningrad, as reported by PRW. Technology and thhe automated equipment are being supplied by German company Uhde Inventa-Fischer of Berlin.

For more details on Russia’s biggest PET plant under construction at Kaliningrad click here

Large Volumes of PE re-exported to Latin America from China

Afflicted by high inventory levels and buyer’s anticipation of the long-awaited flood of new supplies, amid labour shortages affecting processors and manufacturers and anxiety over whether the governmment will take more economic cool-down measures; China’s polyethylene (PE) traders have started re exporting PE to Latin America as per ICIS.

For more details on Large Volumes of PE re-exported to Latin America from China click here

Development of new types of biodegradable, biocompatible plastics

Scientists from IBM and Stanford University have detailed discoveries that could lead to the development of new types of biodegradable, biocompatible plastics. The result of a multi-year research effoort, the breakthrough also could lead to a new recycling process that has the potential to significantly increase the ability to recycle and reuse common PET and plant-based plastics in the future.

For more details on Development of new types of biodegradable, biocompatible plastics click here

Taiwan’s plastics machine sector sees surge in orders in first three months of 2010

Production of plastics and rubber machinery in Taiwan was down by over 30% in 2009 but the past three months has seen a surge in orders, with machine builders having to hire extra personnel to keep paace according to David Wu of the Taiwan Association of Machinery Industry (TAMI; Taipei), as reported by Plastics Today.

For more details on Taiwan’s plastics machine sector sees surge in orders in first three months of 2010 click here

Thai petrochem majors remain unperturbed despite protests, FDI flows in jeopardy

About 60 projects in the Rayong province, where Mab Ta Phut is located, are under court injunction on environmental grounds since September 2009. With respect to the environmental issues at Mab Ta Phuut, members of the United Front for Democracy against Dictatorship (UDD) took to the streets, giving the government an ultimatum to dissolve the parliament at noon on Sunday or face massive demonstrations.

For more details on Thai petrochem majors remain unperturbed despite protests, FDI flows in jeopardy click here

Indebted Ineos’ suitors include SABIC, Kuwait's Petrochemical Industries Company

Negotiations are on between indebted British chemicals group Ineos and several parties to ink a deal to introduce a new investor or sell assets. Talks with are at a preliminary stage. The potential suuitors include SABIC and Kuwait's Petrochemical Industries Company.

For more details on Indebted Ineos’ suitors include SABIC, Kuwait's Petrochemical Industries Company click here

Import offers for GPPS and HIPS decline in Asia on excess inventories

Import offers for GPPS and HIPS tracked a declining trend in Asia this week, mainly from traders who elected to reduce prices in a bid to work off some of their excess inventories as March demand has failed to live up to sellers’ expectations, as per Chemorbis.

For more details on Import offers for GPPS and HIPS decline in Asia on excess inventories click here

Larsen & Toubro awarded EPC contract for aromatics complex by ONGC Mangalore Petrochemicals Ltd.

Larsen & Toubro has been awarded an order worth Rs 20.35 bln (US$446 mln) to set up an aromatics complex for ONGC Mangalore Petrochemicals Ltd. at the Mangalore SEZ. The aromatics plant is expected too be commissioned by December 2012.

For more details on Larsen & Toubro awarded EPC contract for aromatics complex by ONGC Mangalore Petrochemicals Ltd. click here

Oil prices continue to decline, dip below US$81

Oil prices have extended the previous session's decline, falling below US$81 a barrel on release of data showing a drop in US consumer confidence that has renewed concerns about energy demand in USA, as per Reuters.

For more details on Oil prices continue to decline, dip below US$81 click here

Honam Petrochemicals MEG to shut down for maintenance

Honam Petrochemicals’ 400,000 tons MEG plant at Yeosu is likely to be taken off-stream in H1-May. The maintenance turnaround will happen in the first of the month of May and the plant will stay shut ffor a period of 30 days.

For more details on Honam Petrochemicals MEG to shut down for maintenance click here

Sentiments improve in Asia, naphtha prices rise for fourth consecutive session

Improving sentiments, after demand uncertainties in Japan resulting from Mitsui Chemicals' cracker outage has propped up naphtha prices for the fourth consecutive session, while its crack spreads wideened to a second straight four-session high as per Reuters.

For more details on Sentiments improve in Asia, naphtha prices rise for fourth consecutive session click here

Amcor PET Packaging business renamed Amcor Rigid Plastics post-acquisition of Alcan Packaging

Amcor Rigid Plastics is the new corporate name of Amcor PET Packaging business based in Ann Arbor, Michigan. The newly renamed business group is among seven operating units that were organized followiing the recent US$1.

For more details on Amcor PET Packaging business renamed Amcor Rigid Plastics post-acquisition of Alcan Packaging click here

A polymer that remembers 4 different shapes and can revert to them depending on temperature

Researchers have recently demonstrated a new type of polymer, that can easily remember up to four different shapes, and which can revert to each of them depending on the temperature it is being subjeccted to at a particular time.

For more details on A polymer that remembers 4 different shapes and can revert to them depending on temperature click here

OPaL mulls IPO just before completion of petrochemical project targeted for December 2012

ONGC Petro-additions Ltd (OPaL) is mulling an IPO just before completion of the Rs.12,440 crore petrochemical project targeted for December 2012. This is India's largest dual feed cracker unit plant wwith ethylene cracking capacity of 1.

For more details on OPaL mulls IPO just before completion of petrochemical project targeted for December 2012 click here

After rejecting RIL bid, Lyondell plans to raise US$3,250 mln worth of first priority debt

Lyondell Chemical Company, a wholly-owned subsidiary of LyondellBasell Industries AF S.C.A. (formerly Basell), plans to raise US$3,250 mln worth of first priority debt, including an offering of seniorr secured notes in a private placement and borrowings under a senior term loan facility.

For more details on After rejecting RIL bid, Lyondell plans to raise US$3,250 mln worth of first priority debt click here

Taekwang restarts propylene plant shut for maintenance

Taekwang’s 250,000 tpa propylene plant at Ulsan, South Korea, shut since February 19, has been restarted. H output from this plant serves as feedstock to produce ACN at Taekwang’s Ulsan plant. The 2500,000 tpa ACN plant was shut around the same week for a maintenance turnaround and has just come back into action.

For more details on Taekwang restarts propylene plant shut for maintenance click here

Propylene prices in Asia heading for a crash?

Propylene prices in Asia seem headed for "a crash" a result of an increase in spot supplies by around 20,000 ton/month as per ICIS. Huge surpluses are expected to flood the markets with the start up oof facilities in Asia, easing the tight supplies in Asia that have sustained the rally in polyolefin prices.

For more details on Propylene prices in Asia heading for a crash? click here

PE buyers in Asia wait in the sidelines as China’s domestic market weakens

Trading activity in Asia has dipped considerably this week as buyers anticipate a drop in regional PE in line with falling prices in China’s domestic market. As per Chemorbis, high stock levels insidee China provide further support to buyers’ case for lower prices, along with continued weakness in Asia’s spot ethylene market.

For more details on PE buyers in Asia wait in the sidelines as China’s domestic market weakens click here

Russia’s planned large-scale petrochemical to target the Chinese market

Based on Russia's plentiful feedstock resources, petrochemical major Sibur is studying the construction of large-scale petrochemical and polymer production as per ICIS. Since domestic demand is limiteed, the projects would be export-oriented, targeting China primarily.

For more details on Russia’s planned large-scale petrochemical to target the Chinese market click here

Repsol plans indefinite shutdown of styrene, propylene oxide and glycols unit at Puertollano refinery

Spain's Repsol is to shut down its petrochemical units producing styrene, propylene oxide and glycols at the refinery indefinitely. It has also halted the hydrocracker at its Puertollano refinery for 3 months due to low refining margins.

For more details on Repsol plans indefinite shutdown of styrene, propylene oxide and glycols unit at Puertollano refinery click here

End of month restart for Mitsui Chemicals’ 553,000 tpa Chiba naphtha cracker

Japan's Mitsui Chemicals Inc expects to restart its 553,000 tpa naphtha cracker in Chiba around late March after repairs. The cracker was originally shut on Feb. 28 due to a problem and has failed to restart earlier this month, resulting in a loss of about US$33 mln.

For more details on End of month restart for Mitsui Chemicals’ 553,000 tpa Chiba naphtha cracker click here

Indian Oil Corp starts naphtha cracker at the Panipat refinery

In a move that will help the company make value-added products from surplus naphtha, Indian Oil Corp has started a naphtha cracker at the Panipat refinery. Feed cutting that commenced will be followedd by first on-spec product in four to five days.

For more details on Indian Oil Corp starts naphtha cracker at the Panipat refinery click here

Recycling of non-bottle rigid plastics in USA rises 11% in 2008 as compared to 2007

Recycling of non-bottle rigid plastics in USA increased by 11% to over 361 mln lbs, in 2008 from 2007, as per American Chemistry Council (ACC). Non-bottle rigid plastics includes high density polyethyylene (HDPE) tubs, polypropylene (PP) cups and other food containers, and durable items such as crates, carts, buckets and electronic casings.

For more details on Recycling of non-bottle rigid plastics in USA rises 11% in 2008 as compared to 2007 click here

Oil prices settle above $82

New York's main contract, light sweet crude for April delivery, settled at $US82.2, while London's Brent North Sea crude for April rose to $US80.4. After spiking as high as US$83 a barrel, oil prices settled above US$82, oil prices have increased on signs of strengthening demand amid clear signs that the economy is starting to recover from recession.

For more details on Oil prices settle above $82 click here

India orders 1 billion pieces of Rs 10 polymer notes

The Reserve Bank of India (RBI) has placed an order with Australia for the supply of one billion pieces of Rs 10 polymer notes to India this year.
Polymer notes are non-cellulosic in nature and thuss cannot lead to the growth of microbes.

For more details on India orders 1 billion pieces of Rs 10 polymer notes click here

Minerals in compounding show rapid growth in developing countries in packaging & automoti

Minerals used in compounding polymers represent a high value growing market for the mining industry worldwide, with developing countries showing rapid growth in industries like packaging and automotivve.

For more details on Minerals in compounding show rapid growth in developing countries in packaging & automoti click here

Buyers seek alternative import suppliers on high demand for PVC imports in Malaysia

Faced with difficulties in locating sufficient quantities of import PVC, buyers in Malaysia are seeking alternative import suppliers. As per Chemorbis, a PVC compounder has been unable to locate Indonnesian PVC this week after securing 70 tons of material last week because of reduced supplier allocation for this month.

For more details on Buyers seek alternative import suppliers on high demand for PVC imports in Malaysia click here

Softer market sentiments, weak demand in domestic PP, PE markets in China

Softer market sentiments and weak demand amid mounting inventory pressures in China have compelled domestic PP and PE sellers to start the week with lower prices a sper Chemorbis. Thus they have choseen to reduce their offer levels to prompt better buying interest even as further decreases continued to be reported as the week progressed.

For more details on Softer market sentiments, weak demand in domestic PP, PE markets in China click here

Petition filed against 9 projects in Map Ta Phut failing to comply with the Constitution's Article 67 (2)

The Stop Global Warming Association and 35 villagers from Rayong have filed a petition against the construction of 9 industrial projects in Map Ta Phut, contending that these projects have not yet commplied with the Constitution's Article 67 (2).

For more details on Petition filed against 9 projects in Map Ta Phut failing to comply with the Constitution's Article 67 (2) click here

New JV to serve the logistics, transportation needs of the MidEastern petrochemical industry

BDP Kanoo Chemical Logistics, to be based in Dammam, Saudi Arabia, is a newly formed joint venture to serve the logistics and transportation needs of the Middle Eastern petrochemical industry. A jointt venture will provide the services needed for the region to fulfil its vision of economic diversification and adding more value downstream in the hydrocarbon industries.

For more details on New JV to serve the logistics, transportation needs of the MidEastern petrochemical industry click here

Naphtha prices rebound despite demand uncertainties in Asia

Despite uncertainties in demand from Japan, following Mitsui Chemicals' cracker outage, naphtha prices as well as cracks have rebounded in Asia. Interestingly, ethylene supplies continue to grow with the start up of new crackers in Singapore and Thailand.

For more details on Naphtha prices rebound despite demand uncertainties in Asia click here

25% cut in naphtha premiums vs previous week realized by IOC

Indian Oil Corp has sold 30,000 tons of naphtha by tender for March 31-April 2 lifting to a Northeast Asian trading house at a premium in the low US$20/MT range, pegged to its’ price formula on a freee-on-board (FOB) basis.

For more details on 25% cut in naphtha premiums vs previous week realized by IOC click here

Significant growth in sales and distribution from 2010 in LLDPE

LLDPE is one of the most important plastics. This market is recovering well from the economic crisis: “We expect to see significant growth in sales and distribution starting in 2010“, says Oliver Kuttsch, president of Ceresana Research.

For more details on Significant growth in sales and distribution from 2010 in LLDPE click here

Dollar strengthens, crude oil prices dip

Crude oil prices witnessed a marginal dip as the US dollar strengthened and the dollar index rose 0.19%. However, crude oil prices continued to persist above US$81 a barrel- lingering at their highestt point in eight weeks.

For more details on Dollar strengthens, crude oil prices dip click here

West European PVC up-revised, but still competitive in Italy

In the first week of March, a couple of West European sources offered rollovers, although the rest of the market started to seek price hikes of €20-50/ton in a bid to improve margins, as per Chemorbiss.

For more details on West European PVC up-revised, but still competitive in Italy click here

Firm increase in March PS offers in Europe

With an increase in styrene contract prices in March vs February contract level, PS hikes between €50-55/ton have emerged in the Italian market March. As per Chemorbis, the monthly monomer contracts wwere settled with a €42/ton (US$57/ton) increase for March, regaining the €13/ton loss posted in the February styrene contracts.

For more details on Firm increase in March PS offers in Europe click here

Recycling of non-bottle rigid plastics in USA

The American Chemistry Council recently released the 2008 report on the collection and recycling of post-consumer non-bottle rigid plastics across the United States. The report, found that in 2008, ovver 361 million lbs of post-consumer rigid plastics were collected for recycling nationwide, an increase of nearly 11% from 2007.

For more details on Recycling of non-bottle rigid plastics in USA click here

Using organic catalysts to make biodegradable, biocompatible plastics

Though most discarded plastic water and beverage bottles can be recycled, the resulting second-generation plastic is generally unusable for making new plastic bottles. Second-generation PET is often uused to make carpets or fiberfill for coats and sleeping bags because less strength is needed for those products.

For more details on Using organic catalysts to make biodegradable, biocompatible plastics click here

A new round of expansion at Sinopec-BASF Nanjing production site

In a bid to meet rising domestic demand, a fresh round of expansion is currently underway at Sinopec-BASF partnered BASF-YPC Co Ltd complex at a total outlay of US$1.4 bln.
The move conforms with Chhina's stimulus plan for the petrochemical industry and will help better serve Chinese customers.

For more details on A new round of expansion at Sinopec-BASF Nanjing production site click here

Naphtha prices fall in Asia as delay in start-up of Mitsui Chemicals' cracker weakens demand

Naphtha prices in Asia have fallen as demand has weakened in the region with the delay in start up of Japan’s Mitsui Chemicals 553,000 tpa cracker in Chiba. A leak in the unit has shut the cracker sinnce last Sunday, scheduled to be restarted by the weekend.

For more details on Naphtha prices fall in Asia as delay in start-up of Mitsui Chemicals' cracker weakens demand click here

Sinopec mulls project to expand integrated oil refinery and petrochemical complex in Fujian

China's number one oil refiner Sinopec is mulling a partnership with ExxonMobil and Saudi Aramco to expand it's existing integrated oil refinery and petrochemical complex in Fujian with a refinery to process 12 mln tons of crude and 1 mln tpa ethylene plant.

For more details on Sinopec mulls project to expand integrated oil refinery and petrochemical complex in Fujian click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 8, 2010

CRUDE OIL
In the week of March 8, 2010, benchmark crude for April delivery rose to US$81.50 on the Nymex while Brent crude rose to US$79.89 on the ICE futtures exchange.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 8, 2010 click here

Buying interest for VCM dips in Asia as spot prices shoot up in USA

At a time when ethylene prices have dropped in major Asian markets, prices have soared in USA. Soaring ethylene prices in USA have begun to have an impact on spot VCM markets, which are in turn likelyy to lead to changes in global PVC pricing, as per Chemorbis.

For more details on Buying interest for VCM dips in Asia as spot prices shoot up in USA click here

Poorer than expected demand, weakening ethylene markets pull down PE prices in China’s domestic market

Domestic polyethylene prices are facing downward pressure in China as a result of poorer than expected demand and weakening ethylene markets. As per Chemorbis, a major producer in the East reduced offfers for LLDPE film by CNY300/ton (US$44/ton) and by CNY200/ton (US$29/ton) for HDPE film, alluding to poor demand and rising stock levels.

For more details on Poorer than expected demand, weakening ethylene markets pull down PE prices in China’s domestic market click here

Arkema to support a research program to offer a new "green" acrylic acid derivative

The Lorraine Regional Council, Arkema and two university laboratories have signed a research agreement to support a research program into "biobased acrylics", the challenge of the project being to offfer new "green" acrylic acid derivatives and develop a biosourced chemical activity in the Lorraine region.

For more details on Arkema to support a research program to offer a new "green" acrylic acid derivative click here

Bankrupt LyondellBasell charts restructuring plan after rejecting RIL bid

Bankrupt petrochemicals maker LyondellBasell has charted a restructuring plan as an option after it rejected a US$14.5 bln bid from Indian energy major Reliance Industries Ltd. The offer from Reliancee Industries was not sufficiently valuable to LyondellBasell to abandon its reorganisation plan, Lyondell said in a court filing on Monday.

For more details on Bankrupt LyondellBasell charts restructuring plan after rejecting RIL bid click here

Petron Corp. to indirectly acquire stake in a polypropylene plant in Limay, Bataan

In a bid to diversify into the downstream petrochemical business and add additional revenue streams, Philippine’s biggest oil refiner Petron Corp. plans to indirectly acquire a stake in a polypropylenne plant in Limay, Bataan.

For more details on Petron Corp. to indirectly acquire stake in a polypropylene plant in Limay, Bataan click here

ONGC and Reliance sell naphtha at stronger premiums

Restricted avails due to a dearth of arbitrage cargoes has pushed up the premiums realized by India's Oil & Natural Gas Corp (ONGC) and Reliance Industries.
ONGC has realized a premium of US$27/ton oon a 35000 ton parcel by tender for April 1-2 loading from Mumbai to Itochu to Middle East quotes on FOB basis.

For more details on ONGC and Reliance sell naphtha at stronger premiums click here

Strong demand from China propels Japanese ethylene production

Japanese ethylene production has spiked by 27.6% to 593,200 tons in February 2010 vs 465,000 tons in February 2009. Propped up by robust demand from China, ethylene production has increased for the seeventh consecutive month, as per the Ministry of Economy, Trade and Industry.

For more details on Strong demand from China propels Japanese ethylene production click here

After a gap of three years, Mitsui plans to restart oil trading in Singapore

In a bid to reassert itself as a trading force in the next few years, Mitsui plans to restart oil trading in Singapore by as early as next year. After a 3 year interruption at Singapore, Mitsui is loooking to expand the outfit to around 60 staff by 2012.

For more details on After a gap of three years, Mitsui plans to restart oil trading in Singapore click here

Polyethylene transforms into a material that conducts heat yet remains an electrical insulator

A way to transform polyethylene into a material that conducts heat just as well as most metals, yet remains an electrical insulator has been discovered by an MIT team. The new process causes the polymmer to conduct heat very efficiently in just one direction.

For more details on Polyethylene transforms into a material that conducts heat yet remains an electrical insulator click here

Oil prices dip after bullish trend

Oil prices have fallen as forecasts for growing crude inventories toned down bullish sentiments about global economic recovery. Light sweet crude for April delivery traded at US$81.4 while Brent crudee was at US$80 in Asia.

For more details on Oil prices dip after bullish trend click here

PS demand in Italy remains fragile

In view of the still fragile PS demand in Italy, an official distributor of a Central European producer decided to ask for a smaller increase for March as larger increases will not find acceptance in the market, as per Chemorbis.

For more details on PS demand in Italy remains fragile click here

Middle Eastern producers offer March PE to Turkey and Egypt

Middle Eastern producers have offered March PE to Turkey and Egypt at different pricing policies, particularly for the tightly available LLDPE in Turkey. As per Chemorbis, a regional producer has issuued US$10-20/ton increases on CIF Turkey LLDPE offers to advantage from the short term tightness in the domestic market, triggered by the absence of a key supplier for over two weeks.

For more details on Middle Eastern producers offer March PE to Turkey and Egypt click here

Preliminary work on Maaden-Daelim petrochemical project in Jubail to cost US$41 mln

The preliminary work on a petrochemical project in Jubail with Saudi Arabian Mining Co (Maaden) and South Korea's Daelim Industrial Co will cost about US$41 mln. Both the partners have inked a deal too launch the Jubail project, a petrochemical joint venture with Sahara Petrochemicals Co.

For more details on Preliminary work on Maaden-Daelim petrochemical project in Jubail to cost US$41 mln click here

Ineos restarts 320000 tpa LLDPE plant at Grangemouth, maintains force majeure

INEOS Olefins & Polymers Europe has restarted its 320,000 tpa linear low density polyethylene (LLDPE) plant at Grangemouth, UK, but maintained the force majeure for some time, as per ICIS. An "agglomeeration", or build-up of product in the reactor, brought the unit to a halt during the Christmas holiday period.

For more details on Ineos restarts 320000 tpa LLDPE plant at Grangemouth, maintains force majeure click here

Financing for new petrochemical complex and fertilizer enterprise in Azerbaijan

Azerbaijan's national chemical operator state-run company Azerikimya, seems close to realization of project of construction of a petrochemical complex and a fertilizer factory in Azerbaijan. France's Societe Generale has launched organization of financing for the project.

For more details on Financing for new petrochemical complex and fertilizer enterprise in Azerbaijan click here

Rising US ethylene prices continue to squeeze LyondellBasell’s PE margins

Rising US ethylene prices have given a significant bump to LyondellBasell’s olefins earnings, but continue to squeeze polyethylene (PE) margins as per ICIS. For most of 2010, ethylene prices have surgged, peaking with trades at 70 cents/lb or more over the past two days.

For more details on Rising US ethylene prices continue to squeeze LyondellBasell’s PE margins click here

Canadian public company inks petrochemical marking contract with Braskem

Eurocontrol Technics Inc., a Canadian public company, through its wholly owned subsidiary Global Fluids International S.A. (GFI), has inked its first petrochemical marking contract in Brazil with Brasskem.

For more details on Canadian public company inks petrochemical marking contract with Braskem click here

Malaysian converter receives re-export PE offers from China

A plastic bag manufacturer in Malaysia reported to have received offers for HDPE film for re-export purposes from a Chinese trader this week at US$1350/ton CIF Malaysia, cash, for Iranian and Middle EEastern origins as per Chemorbis.

For more details on Malaysian converter receives re-export PE offers from China click here

Post-holiday demand in China fails to meet sellers’ expectations

When sellers concluded pre-holiday business in China, the market was rife with expectations of stronger demand and firmer prices pos-holiday in the last week of February. As per Chemorbis, after two wweeks of reopening, the post-holiday market outlook has fallen short of sellers expectations of an upsurge in demand.

For more details on Post-holiday demand in China fails to meet sellers’ expectations click here

First commercial application of Baytubes® Carbon nanotubes

Aqueous suspensions of carbon nanotubes (CNTs) containing individual tubes offer interesting perspectives for a number of new applications which depend on a high electrical or thermal conductivity, reespectively.

For more details on First commercial application of Baytubes® Carbon nanotubes click here

Oil prices dip towards US480 as dollar strengthens

After news of another build in US crude inventories, oil prices have dipped to slide down to US$80 in line with a strengthening dollar. Oil has fallen from seven-week highs as the dollar gained aroundd 0.

For more details on Oil prices dip towards US480 as dollar strengthens click here

Power outage at Eastman Chemical’s Texas facility could cut per-share profits in Q1-10

Eastman Chemicals’ plant in Longview, east of Dallas makes more than 40 chemical and polymer products. The plant has been shut on February 20 on account of a power outage. Some equipment was damaged dduring an attempted restart and operations are not expected to return to normal until later in the month.

For more details on Power outage at Eastman Chemical’s Texas facility could cut per-share profits in Q1-10 click here

Self-healing polymer extends life of automotive oils: star-shaped polymer used as viscosity modifier

Self-healing polymers that could extend the lifetime of automotive oils have been created by researchers at the University of Warwick. These polymers are suitable to add to lubricants and could maintaain the physical properties of engine oils for longer, they claim helping engine efficiency.

For more details on Self-healing polymer extends life of automotive oils: star-shaped polymer used as viscosity modifier click here

New research prevents plasticizers from leaching out

Plasticizers add flexibility to harder plastics, but may also migrate from these materials, raising health concerns about human exposure via medical devices or children's toys. Scientists are working with the widely used plasticizers known as phthalates and have locked down these compounds, preventing them from migrating.

For more details on New research prevents plasticizers from leaching out click here

IOC mulls equity partner at Paradip petrochemical complex, recasts project priority

Indian Oil Corporation (IOC) is recasting priority of its several projects in the pipeline in line with its sagging bottomline, which is forcing it to consider an equity partner for its Rs 30,000 crorre refinery at Paradip in Orissa.

For more details on IOC mulls equity partner at Paradip petrochemical complex, recasts project priority click here

Restructuring on the cards in Japan’s ethylene industry

Faced with concerns of a speedy increase in supply from the Middle East and China due to rapid polyolefin supply buildout, producers from Europe and North America as well as Japan are finding it increeasingly difficult to cope with the recently changing trade dynamics.

For more details on Restructuring on the cards in Japan’s ethylene industry click here

Rising US Polypropylene no longer attractive to China

With the recent run-up in American propylene costs and PP prices, players in China no longer find US offers attractive, as per Chemorbis. However, American PP made big inroads into China during 2009 wwith imports rising to 493,382 tons of American homopolymer PP, up four times from 2008 levels of 117,673 tons.

For more details on Rising US Polypropylene no longer attractive to China click here

Soaring ethylene prices in USA create premium over Asia, Europe

The uptrend in ethylene prices in USA gained pace from the beginning of 2010. As per Chemorbis, after having posted a considerable hike of over US$275/ton in January, spot prices rose by another US$2000/ton in February to end the month at US$1290/ton DLVD USG.

For more details on Soaring ethylene prices in USA create premium over Asia, Europe click here

IRPC pans to expand capacity a an investment of US$1.4 bln in the next five years

In a bid to meet rising demand, Thai major IRPC Pcl plans to invest US$1.4 bln in the next five years on expanding capacity. With annual capacity to produce 728,000 tons of olefins products and 367,0000 tons of aromatics, IRPC is operator of Southeast Asia's biggest integrated petrochemical complex.

For more details on IRPC pans to expand capacity a an investment of US$1.4 bln in the next five years click here

Naphtha economics to determine olefins prices

Naphtha economics will continue to set the prices for olefins, with any recovery not expected to be demand-led, as reported in ICIS.
“No matter how bad things are in petrochemicals, upstream naphthaa and crude oil will determine pricing,” Alastair Hensman, Nexant’s ChemSystems consultancy, said at the 5th ICIS World Olefins Conference.

For more details on Naphtha economics to determine olefins prices click here

Bain Capital Partners to acquire Dow’s Styron business for US$1.63 bln

In a deal that will conclude by August, Dow Chemical will sell its Styron division to US private equity group Bain Capital Partners for US$1.63 bln, as per European Plastics News. As part of the transsaction, Dow retains an option to keep up to 15% of Styron equity.

For more details on Bain Capital Partners to acquire Dow’s Styron business for US$1.63 bln click here

Indian Oil Corp to award tender to sell 60,000 tons of March loading naphtha

Amid strong demand and restricted supplies, Indian Oil Corp (IOC) will award a tender to sell 60,000 tons of naphtha for late March loading, anticipating a higher premium. 30,000 tons each will be solld for March 24-27 loading from Chennai, and Kandla port in a tender that closes on Thursday.

For more details on Indian Oil Corp to award tender to sell 60,000 tons of March loading naphtha click here

RIL loses out on LyondellBasell, gains on stock market

The shares of Reliance Industries Ltd. (RIL) have spiked past the 1000 mark as reports pour in that the bankrupt petrochemicals firm LyondellBasell rejected an acquisition bid by RIL. RIL had bid for LB in November at about US$12 bln that it raised to US$14.

For more details on RIL loses out on LyondellBasell, gains on stock market click here

Resin for use in potentially explosive atmospheres

Arkema’s Kynar Flex covers a range of PVDF-based fluoropolymers with greater flexibility than traditional PVDF. Although similar to Kynar resins in terms of purity and chemical stability, they featuree exclusive qualities of additional chemical compatibility with high pH solutions, as well as superior impact resistance at ambient and low temperatures.

For more details on Resin for use in potentially explosive atmospheres click here

March propylene rises in Europe, Med PP markets begin March with price hikes

As an initial March propylene contract price was settled in the European market last week with an additional increase of €35/ton from the February contract settlement, price hikes have emerged in Itally’s spot PP market for the month of March, as per Chemorbis.

For more details on March propylene rises in Europe, Med PP markets begin March with price hikes click here

Monthly ethylene contract rolls over, slight increases in LDPE, HDPE outlook not strong in Italy

As the monthly ethylene contract settles at a rollover, sellers will not be able to fulfill their full hike targets of €50-80/ton officially sought for March PE in Europe. As per Chemorbis, the main rreason behind this expectation is that the while some buyers are adamant about rollovers for PE, other buyers believe that some slight increases will be almost unavoidable for LDPE because of limited supply.

For more details on Monthly ethylene contract rolls over, slight increases in LDPE, HDPE outlook not strong in Italy click here

As regional trends firm, producers choose to increase PVC offers in SE Asia

As regional trends firm, most producers have chosen to increase PVC offers in Southeast Asia. As per Chemorbis, a Vietnamese producer has increased domestic offers for March by twenty dollars at US$10080-1090/ton FD Vietnam, 30 days deferred payment basis.

For more details on As regional trends firm, producers choose to increase PVC offers in SE Asia click here

India offers partnership in Aramco refinery project

India has offered a 10% stake in Saudi Aramco’s giant refinery project in Eurasia, adding that the refinery with its strategic reserves of Saudi oil would be “of importance to us as the oil can be solld from there”, as per the Indian Minister of Petroleum and Gas
The minister urged Saudi investors to enter into partnerships in India.

For more details on India offers partnership in Aramco refinery project click here

Proposed petrochemical plant in Nova Scotia's Guysborough County being abandoned

A proposed US$4.6 bln petrochemical plant in Nova Scotia's Guysborough County is being called off, mainly due to the current economic downturn and lengthy delays. The developers behind Keltic Petrocheemicals did not renew a land option agreement they held with the municipality.

For more details on Proposed petrochemical plant in Nova Scotia's Guysborough County being abandoned click here

Significant drop unlikely in ADNOC’s term offer for naphtha shipments to Asia

A significant drop in term naphtha offer for shipment to Asia is unlikely from Abu Dhabi National Oil Co (ADNOC), the state-owned oil and gas company. ADNOC settled April 2009-March 2010 contract at ppremiums equal to its opening offer for this year for two grades with pentane-plus agreed at US$26.

For more details on Significant drop unlikely in ADNOC’s term offer for naphtha shipments to Asia click here

Venezuelan company mulls controlling stake in ONGC Mangalore Petrochemicals

Venezuelan company- Petroleos de Venezuela SA (PDVSA) is mulling acquisition of controlling stake in ONGC Mangalore Petrochemicals, the aromatics unit of Oil & Natural Gas Corp. The venture will make 920,000 tpa of paraxylene and 140,000 tpa of benzene starting the end of this year.

For more details on Venezuelan company mulls controlling stake in ONGC Mangalore Petrochemicals click here

LyondellBasell rejects bid by Indian energy major Reliance Industries Ltd

Bankrupt petrochemicals maker LyondellBasell has rejected a bid for takeover by India's Reliance Industries Ltd. The New York Post reported that a creditor group led by US private equity firm Apollo Management, which is controlling Lyondell's bankruptcy process in the United States, is expected to reject Reliance's latest bid.

For more details on LyondellBasell rejects bid by Indian energy major Reliance Industries Ltd click here

Halloysite Clay successfully used as a drop-in additive for reinforcement in polymer composites

Applied Minerals Inc. has completed trials incorporating its Halloysite Clay as a drop-in additive for reinforcement in polymer composites. As a result of these trials, the Company has filed a Provisiional Patent Application with the USPTO for a novel method of producing a halloysite-polymer composition that
(i) eliminates two costly steps typically used in the compounding process and
(ii) produces improved properties to other polymer composites reinforced with
(a) Halloysite Nanotubes utilizing other composition methods,
(b) chemically treated MMT Organo/Nanoclay and
(c) certain traditional fillers.

For more details on Halloysite Clay successfully used as a drop-in additive for reinforcement in polymer composites click here

New nylon maintains excellent performance levels much longer than traditional nylons

A new family of nylon products delivers excellent performance levels and maintains the excellent performance levels much longer than traditional nylons despite exposure to hot oil, hot air, calcium chhloride and other aggressive automotive chemicals.

For more details on New nylon maintains excellent performance levels much longer than traditional nylons click here

Tough and virtually unbreakable stadium walls that are transparent and curvilinear

Walls of Aviva Stadium, Dublin, for rugby and football are now transparent. The stadium’s transparent, curvilinear walls are constructed from SABIC Innovative Plastics’ tough and virtually unbreakablee Lexan* Exell D polycarbonate (PC) sheet, which adds incredible elegance, high performance and environmental benefits.

For more details on Tough and virtually unbreakable stadium walls that are transparent and curvilinear click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 1, 2010

CRUDE OIL
Oil prices have ended the week of March 1, 2010 on a stable note. Prices have been yo-yoing to hover around the US$80/barrel mark. At the end of the week, regional stock markets rose, pushing benchmark crude for April delivery rose to US$80.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 1, 2010 click here

Sellers report to concluding some deals for hiked March PVC offers in China

In China, mainstream sellers report that they have managed to conclude some deals for March at prices at or close to their initial offer levels for the month, which were announced last week with increease of US$30-40/ton when compared with the February done deal level for mainstream Asian origins, as per Chemorbis.

For more details on Sellers report to concluding some deals for hiked March PVC offers in China click here

Spot propylene moves opposite to spot ethylene in Asia

Spot ethylene and propylene markets are moving in opposite directions in Asia, with propylene prices being forced upwards due to players’ concerns about the possibility of a worsening supply drought wwhile spot ethylene prices are sharply down from the levels seen just before the Chinese New Year holidays as fresh supplies from Japan and the Middle East have combined to ensure comfortable spot availability, as per Chemorbis.

For more details on Spot propylene moves opposite to spot ethylene in Asia click here

March PP raffia offers from Middle East to Turkey

A major Middle Eastern producer has offered March PP raffia offers to Turkey at the end of last week, as per Chemorbis. The producer’s new prices stand between US$1430-1450/ton CPT South Turkey, subjeect to 3% customs duty, cash, representing an increase of US$40-50/ton from their most recent February level.

For more details on March PP raffia offers from Middle East to Turkey click here

Naphtha arbitrage from Europe to Asia reopens: 160,000 tons provisionally booked for March

The naphtha arbitrage from Europe to Asia, shut in February due to cracker maintenance, has reopened. These shipments to Asia would be the first in over a month since heavy cracker maintenance in Japaan has curbed demand for western feedstock.

For more details on Naphtha arbitrage from Europe to Asia reopens: 160,000 tons provisionally booked for March click here

Iraq's State Co for Petrochemical Industries inks deal with South Korean company

Iraq's State Co for Petrochemical Industries has signed an agreement with South Korea's STX Heavy Industries for a US$3.2 bln petrochemical project in the country, as per Reuters. The complex is set tto produce ethylene, propylene, polyethylene and polyvinyl chloride from 2014.

For more details on Iraq's State Co for Petrochemical Industries inks deal with South Korean company click here

KPC expects nod to develop US$9 bln refinery and 1 mln tpa ethylene project in China

Kuwait expects to receive approval to develop a US$9 bln refinery and a 1 mln tpa ethylene project in China by the end of the year. After initial approval in 2006, the project has suffered years of deelays, and still awaits approval from Beijing.

For more details on KPC expects nod to develop US$9 bln refinery and 1 mln tpa ethylene project in China click here

World ethylene demand to cross 160 mln tons by 2015

Global capacity of ethylene is projected to be approximately 142 mln tons by 2010. Middle East and Asia are all set to emerge as the world's largest ethylene producing regions. Key to increasing capaccities is the availability of low cost raw materials.

For more details on World ethylene demand to cross 160 mln tons by 2015 click here

Pricing power unlikely to return to resin producers until 2013

Massive amounts of new capacity hitting the market at a time when demand for basic plastics and chemicals actually contracted on a year-over-year basis likely mean that pricing power will not return tto resin producers until 2013, as per Gary Adams, CMAI, in his keynote address to the SPE 2010 International Polyolefins Conference as reported in plasticstoday.

For more details on Pricing power unlikely to return to resin producers until 2013 click here

Chinese petroleum and petrochemical companies to further accelerate

Taking into account the requirement for developing low-carbon economy, Chinese petroleum and petrochemical industry will further accelerate readjusting the industrial structure, and put more efforts tto economize energy, reduce emissions, and integrate oil refining and ethylene facilities on a larger scale this year.

For more details on Chinese petroleum and petrochemical companies to further accelerate click here

New Craft Skin Suit makes debut in Olympic Speed Skating

A new and innovative CRAFT one layer skin suit has been introduced with Dyneema®. It is lighter and more comfortable due to intrinsic cooling properties than comparable alternatives, whilst offering ffor the first time, full body protection.

For more details on New Craft Skin Suit makes debut in Olympic Speed Skating click here

LyondellBasell to shutter PP plant at Terni, Italy

LyondellBasell Industries has decided to close its 560 mln lbs polypropylene plant in Terni, Italy. LyondellBasell, the world’s number one maker of PP, has been operating in bankruptcy since early 20009.

For more details on LyondellBasell to shutter PP plant at Terni, Italy click here

Oil prices rise past US$80 at beginning of week

Regional stock markets rose, pushing up oil prices above US$80 a barrel on Monday in Asia. Benchmark crude for April delivery rose to US$80.1 on the Nymex.
All the major Asian stock indexes were heaalthy, as equity markets were boosted by hopes that Greece's debt-ridden economy would soon be rescued and a slowdown in Chinese manufacturing growth eased fears of additional government measures to cool the economy.

For more details on Oil prices rise past US$80 at beginning of week click here

RIL announces Polymer price changes

With effect from 27th February, 2010 Reliance Industries has announced following price changes :
PVC, LLDPE, HDPE, LDPE prices rise by Rs. 2.00
No change in Polypropylene prices.


For more details on RIL announces Polymer price changes click here

Highlights of Union Budget 2010-11

The Union Budget 2010-11 brought some cheers to the Indian markets that, over the past few days, were shrouded with concerns regarding the government's stimulus withdrawal.
The Finance Minister has changed the direct tax slabs for men, women and senior citizens.

For more details on Highlights of Union Budget 2010-11 click here

SE Asian producer increases March offers for PP, PE

A Southeast Asian producer’s initial March offers for PP and PE were raised this week. As per Chemorbis, producers raised PP offers by ten dollars for homo-PP and by US$20-30/ton for copolymer PP, briinging their new offers to US$1430/ton for homo-PP injection and raffia, US$1520-1530/ton for PP block copolymer injection and US$1520-1540/ton for PP random copolymer injection, all on a CIF SEA, cash basis.

For more details on SE Asian producer increases March offers for PP, PE click here