Formosa could take a year to restart residual desulfurization unit damaged by a July 25 fire

Formosa Petrochemical Corp. may take a year to restart the residual desulfurization unit damaged by a July 25 fire. However, the company may need 1-2 weeks to have two-thirds of its Mailiao oil refineery fully operational after a fire damaged a unit.

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19% increase expected in LG Chem’s operating profit on robus petrochemicals sales

LG Chem, South Korea’s biggest chemicals maker, is expecting to see an increase in operating profit by about 19% this year, propelled by robust demand for petrochemical products and batteries for mobiile phones.

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Taiwan government awaits scrutiny results of recent fires at Formosa

To conclude whether the recent fires at Formosa Petrochemical crackers need to be factored into the environmental impact assessment for expansion of the complex, the government of Taiwan awaits resullts of a probe.

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Performance plastics to re-mould future business dimensions for the Indian plastics industry

Performance plastics to re-mould future business dimensions for the Indian plastics industry, says Frost & Sullivan, who is to host ‘Performance Plastic Summit 2010 – Trends and Advances in Performancce Plastics’, in August in Mumbai, India is emerging as a global hub for manufacturing; it is therefore imperative to adopt new products, technologies, and better manufacturing practices.

For more details on Performance plastics to re-mould future business dimensions for the Indian plastics industry click here

American PVC moves higher across the globe

Import PVC offers from the US had been raised in China by US$30-40/ton in the beginning of July, resulting in poor buying interest for this origin for the most part of July as the domestic market was on the decline and buyers were reluctant to secure cargoes with long transit times, as per Chemorbis.

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Unexpected increase in US crude stockpiles pulls down oil prices below US$77

As per API, US crude inventories saw a surprise increase of 3.1 mln barrels last week vs a forecast of decline by 1.6 mln barrels. Crude oil prices have dropped below US$77, mainly on an unexpected inncrease in US crude stockpiles.

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Invista assessing possible sale of North American polymer and resin unit

In a bid to maximize the long-term value of its businesses, Invista has initiated a review process that could lead to the sale of its North American polymer and resin unit, including its PET business,, as per Plasticsnews.

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EPA to fine Formosa NT$1 mln/day for air pollution caused by fire

On 7 July, an explosion halted operations at Formosa’s 700,000 tpa naphtha cracker in Mailiao. This was followed by an explosion at Formosa's 73,000 bpd desulphurisation unit at the same site, forcingg the shutdown of some downstream units, including a 520,000 tpa group II base oils refinery.

For more details on EPA to fine Formosa NT$1 mln/day for air pollution caused by fire click here

Formosa asks suppliers to defer crude imports, plans to delay exports, boost safety checks

Taiwan’s Formosa Petrochemicals Corp imports an average of 7-8 Very Large Crude Carriers (VLCCs) a month, each carrying 2 mln barrels of crude. About 90% of the crude is imported through term contractts with major Gulf producers except Oman and Qatar.

For more details on Formosa asks suppliers to defer crude imports, plans to delay exports, boost safety checks click here

INEOS Oxide to build and operate 1 mln ton deep-sea Ethylene Terminal

INEOS Oxide has confirmed plans to build and operate a new 1 mln ton, deep-sea Ethylene Terminal, to be constructed at its Zwijndrecht Facility, Belgium. The operation of the new deep-sea terminal, whhich is expected to start in 2012, will significantly change the shape of the ethylene market in Europe.

For more details on INEOS Oxide to build and operate 1 mln ton deep-sea Ethylene Terminal click here

A strong explosion caused by a burst chemical pipeline kills many in China

An explosion caused by a burst pipeline carrying chemicals has killed as well as injured many in Nanjing, capital of Jiangsu province, Eastern China. Authorities are still trying to determine the totaal number of casualties from the blast.

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Iran’s 5th Olefins project at Assalouyeh inaugurated

The '5th Olefins' of Assalouyeh with capacity to produce 500,000 tpa of ethylene, Iran has been inaugurated by Iran's president. Morvarid Petchem will supply ethylene feedstock until Iran’s 11th Olefiins, underway by Kavian Petrochemical Co.

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Second fire at cracker prompts Formosa to appraise facilities

After a second fire at its naphtha cracking complex in Mailiao, Formosa Plastics Group (FPG) plans to conduct an overall renewal of its facilities. FPG has formed an elite team to conduct an overall rreview of its facilities to prevent recurrence of any industrial safety incident.

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Singapore to raise ethylene capacity by 50-100% after ExxonMobil's second cracker at Jurong comes onstream

A 50-100% raise in ethylene capacity is being planned in Singapore. Capacity will be hiked to 4 mln tpa when ExxonMobil's second cracker complex at Jurong Island comes on-stream by 2012. The island naation plans to eventually raise ethylene capacity to 6-8 mln tpa as per ICIS.

For more details on Singapore to raise ethylene capacity by 50-100% after ExxonMobil's second cracker at Jurong comes onstream click here

Recent explosion at Formosa’s oil refinery in Mailiao could impact company’s PP production in China

The recent explosion at Formosa cracker No 1. in Mailiao, could likely affect polypropylene production as the Group’s PP plant in China. The explosion, resulting in a shutdown at the unit has impactedd almost 2 bln lbs of annual propylene monomer capacity at Mailiao, as per Plasticsnews.

For more details on Recent explosion at Formosa’s oil refinery in Mailiao could impact company’s PP production in China click here

Oil hovers around US$79 for four days in a row

Crude oil has traded at levels near US$79 a barrel for the fourth day in a row as concerns over US fuel supply gains outweighed rising equity markets. The Commerce Department said home purchases climbbed 24% in June to an annual pace of 330,000, boosting the outlook for an economic recovery.

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Naphtha cracks in Asia ease after spiking to three week highs

As part of the market reaction to additional parcels being booked to move West, Asia's naphtha price eased from a 4 week high, while cracks fell from a near 3 week high, as per Reuters. 450,000-500,0000 tons of naphtha have been fixed, or are provisionally booked, for July-August lifting from the Middle East and the Suez to the West as traders tackle heavy stockpiles in Asia.

For more details on Naphtha cracks in Asia ease after spiking to three week highs click here

H1-2010 naphtha imports and exports rise

China imported 1.3107 mln tons of naphtha in H1-2010, up 42%, and exported 604,400 tons, up 171% yoy, as per data released by the General Administration of Customs.
C1 Energy has attributed the risee of imports to robust demand from a newly operated petrochemical plant in Dalian, started up in H2-2009.

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Iran's polyolefins trade with Asia to be normal despite tougher UN sanctions

Iran's polyolefins trade with Asia is unlikely to be affected by tougher sanctions imposed by the United Nations. Trade is expected to continue normally despite the recent tougher UN sanctions on Irann to halt its nuclear program, as per ICIS.

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Contract likely to roll-over for domestic styrene buyers in USA

Domestic styrene buyers in USA are likely to see a possible contract roll-over from July to August, in line with a sharp jump in benzene prices as per Platts. A fire at a Formosa refinery in Taiwan, ccoupled with recent production issues at a European Dow plant, are the trigger factors for pushing the benzene price higher.

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Mid-Eastern PE to Turkey and Egypt lowered for August

Converters and traders in Egypt and Turkey’s PE markets have started to receive August offers from Middle Eastern suppliers this week, as per Chemorbis. Facing considerable downward pressure from Asiaan PE markets, the new offers for Middle Eastern HDPE and LLDPE were announced with decreases.

For more details on Mid-Eastern PE to Turkey and Egypt lowered for August click here

Maintenance shutdown at 3 JX Nippon Oil & Energy Corp propylene plants in Sep, Oct

Japan's largest propylene producer - JX Nippon Oil & Energy Corp., is slated to shut three propylene plants in September and October for maintenance. The planned outages are expected to cost JX about 31,000 tons in lost propylene output between September 19 and November 22, as per Platts.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 26, 2010

CRUDE OIL
Crude oil prices have ended the week of July 26, 2010 at levels below US$79 a barrel as concerns cloud fresh signs of economic growth that stresss tests to be conducted on European banks could reignite the continent's debt crisis.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 26, 2010 click here

Naphtha trading set to thrive in Asia

The growing Asian petrochemical industry is short of naphtha as a feedstock. As a result, naphtha trading is set to thrive in Asia, prompting more traders and banks to set shop in the region to capitaalise on rising spot cargo flows across regions.

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US ethylene, propylene prices volatile; growth in feedstock ethane continues in H1-2010

Q1 and Q2 2010 have been a period of unusual price volatility and unexpectedly strong profitability for US ethylene makers, as per OGJ. H1-2010 has also been a period of extreme swings in spot for reffinery-grade propylene and contract prices for polymer-grade propylene.

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DSM and RESINEX ink distribution agreement to strengthen presence in East Europe

DSM Engineering Plastics and RESINEX have entered into a distribution agreement, to join forces in the market development and sales of DSM Engineering Plastics resins in Romania, Bulgaria, Slovenia, CCroatia, Serbia and Bosnia.

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Asian PP buyers return to the market as upstream costs increase

The recent upward swings in crude oil and spot propylene prices have driven PP buyers to the market to make fresh purchases in Asia, as per Chemorbis. While sellers acknowledged seeing better demand aat the start of the week, sellers continue to be cautious in their optimism as they remain skeptical of the medium term outlook for the market.

For more details on Asian PP buyers return to the market as upstream costs increase click here

Global market for plastics additives and barrier coatings to grow by 4.6% pa till 2014

The global market for plastics additives and barrier coatings is set to grow at a compounded annual growth rate (CAGR) of 4.6% to total US$752 mln by 2014, according to a new report from Pira Internattional.

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Formosa awaits government decision on deferral of scheduled turnaround at No. 2 naphtha cracker

Taiwan's Formosa Petrochemical awaits a decision from the government on the deferral from August to October of a scheduled turnaround at its No. 2 naphtha-fed steam cracker in Mailiao with capacity too produce 1.

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Supreme Petrochem posts year end net profit of Rs 60.47 crore

India’s largest polystyrene producer Supreme Petrochem Ltd (SPL) has declared its year end financial results for the fiscal year 2009-10. As per the financial report it has managed to register almost three fold rise in the net profit figure in this year.

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Rare spot naphtha of 50,000 tons offered by Saudi Aramco for the second time this month

For the second time this month, Saudi Aramco has offered around 50,000 tons of naphtha. The parcel, for August 27-29 loading, is the second rare spot parcel loading from Jubail in less than a month. SSaudi Aramco was also forced to sell parcels from Yanbu and Jeddah.

For more details on Rare spot naphtha of 50,000 tons offered by Saudi Aramco for the second time this month click here

Better prices in Europe tempt ethylene from Middle East, US away from Asia

Better prices for ethylene in Europe are luring Middle Eastern and US cargoes away from Asia. As per Platts, South East Asian ethylene spot prices have stayed flat at US$797/mt CFR in the past week, wwhile North Western Europe prices were at US$944/mt CIF.

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Cracks spike in Asia as naphtha moves West

Naphtha prices in Asia have spiked by ten dollars, touching a three-week high, with physical cracks having surged to their highest in more than two weeks, as cargoes head West. About 300,000 tons of MMiddle Eastern and Suez naphtha cargoes have either been fixed, or provisionally booked for July-August lifting in a rare move to the West to help ease the high stockpiles in Asia.

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300,000 tons of Mideast, Suez naphtha on rare journey towards West

About 300,000 tons of Mideast, Suez naphtha is on an unusual journey towards the West. This reversal of a usual Eastward journey to Northwest Europe and the United States will help to improve weakeninng sentiments in Asia.

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A thunderstorm at Daesan has caused power outages at several petrochemical facilities

A thunderstorm that struck Daesan has led to power outages at several petrochemical facilities at the site. Samsung Total’s 850,000 tpa naphtha cracker, along with its downstream plants at the site, iincluding a 120,000 tpa mono ethylene glycol (MEG) and a 650,000 tpa paraxylene (PX) unit, have been impacted by the thunderstorm.

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Map Ta Phut delay impacts all projects of PTTCH

PTT Chemical Plc (PTTCH) is Thailand's leading petrochemical company, founded through a merger of the PTT affiliates National Petrochemical (NPC) and Thai Olefins (TOC). The Map Ta Phut delay is affeccting all projects located there, with the company awaiting legal proceedings before it can operate its new plants at full capacity.

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JX Nippon Oil & Energy Corp increases rates at cracker, butadiene units to 100% JX Nippon Oil & Energy Corp increases rates at cracker, butadiene unit

JX Nippon Oil & Energy Corporation was running its naphtha-fed steam cracker and butadiene unit at around 80% in late June as jellyfish clogged sea water pipes which are used to cool the cracking unitt.

For more details on JX Nippon Oil & Energy Corp increases rates at cracker, butadiene units to 100% JX Nippon Oil & Energy Corp increases rates at cracker, butadiene unit click here

Will PVC increases in August come off in Asia?

Asian market players have fortified themselves for increased PVC offers from major Asian producers for August, as apparent with initial increases for August in local offers in Southeast Asia and imporrt prices to India.

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Mood in China's polyolefins market in H2-2010 is downright pessimistic

From cautious optimism, to rising anxiety, the mood surrounding China's polyolefins market in H2-2010 is downright pessimistic, due to a lethal cocktail of stronger output in China and the Middle Eastt amid weak demand in China, as per ICIS.

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Lotte PTA Pakistan’s earnings could halve on import duty reduction on PTA

Earnings of Lotte PTA Pakistan (LOTPTA), supplier of over 60% of Pakistan’s Purified Terephthalic Acid (PTA), are expected plunge by 25-50%. The company’s protection will be reduced from US$64/ton to US$25/ton, as per The Express Tribune.

For more details on Lotte PTA Pakistan’s earnings could halve on import duty reduction on PTA click here

Invista mulls sale of its polymer and resin assets in North America

Invista, USA’s polyethylene terephthalate (PET) producer, is considering the sale of its polymer and resin assets in North America, as per ICIS. Invista's polyester and resin business includes productts such as PET, dimethyl terephatlate (DMT) and specialty polymers.

For more details on Invista mulls sale of its polymer and resin assets in North America click here

Braskem scheduled to commence operations in August at its 200,000 tpa green plastics plant

After receiving the necessary license, Braskem is scheduled to commence operations in August and produce 200,000 tons of "green plastics". Braskem is Americas’ largest thermoplastic resin producer haas received the license for Brazilian plant that will use ethylene produced 100% from ethanol, as per Platts.

For more details on Braskem scheduled to commence operations in August at its 200,000 tpa green plastics plant click here

August crude rises on storm, crude for September falls on demand

On Tuesday, crude oil contracts for August expired on NYMEX, reaching a three-week high settlement at US$77.44/bbl, which was a 90 cent rise day over day and the second day of increases, as per Chemorrbis.

For more details on August crude rises on storm, crude for September falls on demand click here

South Korea's petrochemical exports expected to decline in July as the won stabilises

South Korea's petrochemical exports are expected to decline in July after growing by 24.1% year on year to US$2.87 bln in June as the won stabilises after sharp falls against the US dollar last month,, as per ICIS.

For more details on South Korea's petrochemical exports expected to decline in July as the won stabilises click here

Functional additives, barrier coatings for plastic packaging to grow by 4.3% uptil 2014

The global market for functional additives and barrier coatings for plastic packaging is to grow by 4.3% in the period 2009-2014 according to a new study by Pira International. In 2014 the sector willl be worth US$752 mln compared to US$609 mln in 2009.

For more details on Functional additives, barrier coatings for plastic packaging to grow by 4.3% uptil 2014 click here

Orissa plans outlay of Rs 1796 crore on infrastructure for PCPIR project

Even as it awaits the in-principle approval for its PCPIR from the Centre, the Orissa government plans to invest Rs 1796 crore on infrastructure development of the proposed Petroleum, Chemicals and Peetrochemicals Investment Region (PCPIR) hub in Paradip.

For more details on Orissa plans outlay of Rs 1796 crore on infrastructure for PCPIR project click here

Opposition party in Taiwan appeals to halt Formosa Plastics’ expansion projects

A call to prohibit continuation of Formosa’s expansion projects has been made in Taiwan. The Formosa Plastics Group should not be allowed to continue expansion of the sixth naphtha cracker on accountt of frequent accidents, said the opposition Democratic Progressive Party, as per Taiwan News.

For more details on Opposition party in Taiwan appeals to halt Formosa Plastics’ expansion projects click here

Mass production of coating solutions to drive use of Polycarbonate for car windows

Exatec*, a wholly owned subsidiary of SABIC Innovative Plastics, and ULVAC, a leader in mass-production vacuum technologies, have collaborated to accelerate cost-effective, high-volume production of wweatherable, scratch-resistant, plasma-coated Lexan* polycarbonate (PC) resin for vehicle windows.

For more details on Mass production of coating solutions to drive use of Polycarbonate for car windows click here

Ecopetrol awards Mustang Conceptual Study Contract for new petrochemical complex

Mustang, a Wood Group company, was awarded a contract by Ecopetrol, Colombia's national oil company, to perform conceptual engineering and technology evaluations to optimize the production of polymerss at Ecopetrol's grassroots integrated petrochemical complex in Colombia.

For more details on Ecopetrol awards Mustang Conceptual Study Contract for new petrochemical complex click here

PetroRabigh's Q2 net profit down 55% vs Q1

Rabigh Refining and Petrochemical Co has recorded a second-quarter net profit but is 55.1% below Q1 earnings. The joint venture of state-owned oil company Saudi Aramco and Japan's Sumitomo Chemicals mmade SR 121.

For more details on PetroRabigh's Q2 net profit down 55% vs Q1 click here

Consolidation of Thailand’s PTT's oil-refining and petrochemical units faces further delays

The PTT Group’s plan to merge its refining and petrochemical units to create synergy and improve cost efficiency has been on the planning board for over a year. Plan for consolidation is facing furtheer delays as a number of legal issues need serious discussion.

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Another refinery complex being considered by IOC to meet rising demand

In a bid to meet rising demand for petroleum and petrochemical products, Indian Oil Corporation (IOC) is considering the option of setting up another greenfield refinery with a capacity of 14-15 mln ttpa at an investment outlay of Rs 15,000-20,000 crore.

For more details on Another refinery complex being considered by IOC to meet rising demand click here

Keyuan Petrochemicals’ new construction will lead to self-sufficiency in steam gas

Keyuan Petrochemicals, Inc. has commenced construction on a new gas-fired boiler to achieve self-sufficiency for steam gas and annual savings of US$1.76 mln (approximately 30%) in steam supply costs. Total investment in the project, expected to be completed by the end of November, is estimated at approximately US$$1.

For more details on Keyuan Petrochemicals’ new construction will lead to self-sufficiency in steam gas click here

Poor margins compel Thai Polypropylene plant at 75%

Thai Polypropylene Co’s new 400,000 tpa PP plant that started up in March, is running at 75% capacity due to poor margins amid subdued demand as per Platts. PP margins were negative by US$77.50/mt at the close of market on Tuesday, based on a raffia grade PP price of US$1140/mt CFR China/Northeast Asia, propylene value of US$1067.

For more details on Poor margins compel Thai Polypropylene plant at 75% click here

Argentina’s polymer sector operates at 30-40% for second week on natural gas scarcity

Major producers in Argentina's polymer sector are operating plants at 30-40% capacity for a second consecutive week on inadequate natural gas supplies, as per Platts. Temperatures in the country have dipped below zero last week after averaging 5-10 Celsius in the previous week.

For more details on Argentina’s polymer sector operates at 30-40% for second week on natural gas scarcity click here

Oil prices rise past US$77 in Asia

Oil prices have risen past US$77 in Asia as investors refrained from action ahead of a the US Department of Energy’s inventory report. New York's main contract, light sweet crude for delivery in Septeember settled at US$77.

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High inventory levels, poor demand dampens sentiment in Asian PP markets

Several homo-PP sellers in China have reduced prices this week as buyers prefer to maintain a wait and watch stance due to bearish sentiments about the market outlook triggered by several large new caapacities that have come on-line in the previous months, as per Chemorbis.

For more details on High inventory levels, poor demand dampens sentiment in Asian PP markets click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 19, 2010

OIL
Oil prices dipped to hover around US$76 in Asia in the week of July 19, 2010. Mid week oil prices rose after a report by the US Department of Energyy stating that crude stockpiles in USA fell more sharply than expected by 5.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 19, 2010 click here

Asian aromatics makers face oversupply on weak demand, strong overall reformer economics

Aromatics producers in Asia are struggling to cope with oversupply driven both by weak demand for their products and strong overall reformer economics, as per an ICIS blog.
Feedstock benzene, toluenee and xylenes (BTX) prices have been on the decline.

For more details on Asian aromatics makers face oversupply on weak demand, strong overall reformer economics click here

LG Chem posts record profit on better than estimated demand from China

South Korea’s biggest maker of chemicals LG Chem Ltd. has posted a record Q2 profit, thumping estimates, as Chinese demand for plastics and synthetic rubber feedstocks increased. Sales, including thosse of overseas affiliates, gained 31% to 5.

For more details on LG Chem posts record profit on better than estimated demand from China click here

Supreme Petrochem Board recommends dividend for 2009-10

Supreme Petrochem Ltd has announced that the Board of Directors of the Company at its meeting held on July 20, 2010, inter alia, has recommended dividend of Rs. 1.80 per share for the year 2009-10 on equity shares entailing an outgo of Rs.

For more details on Supreme Petrochem Board recommends dividend for 2009-10 click here

MEG unit restart delayed by Nan Ya Plastics to end of month

Nan Ya Plastics has delayed the restart of its' No. 3 monoethylene glycol (MEG) unit in Mailiao, which was shut June 30 for a three-week maintenance. Restart of the 350,000 tpa unit has been pushed foorward to end of July as per Platts, mainly due to the fire at Formosa Petrochemical's No.

For more details on MEG unit restart delayed by Nan Ya Plastics to end of month click here

Expansion of Sohar refinery to meet feedstock supply commitments to petrochem complexes

Major expansion of Sohar refinery complex being embarked upon by Oman Refineries and Petrochemicals CompanyOman Refineries and Petrochemicals Company LLC (ORPCORPC) will help the refinery meet feedsstock supply commitments to adjacent downstream petrochemical complexes.

For more details on Expansion of Sohar refinery to meet feedstock supply commitments to petrochem complexes click here

Synthesis of a conjugated organic polymer could result in more efficient, cheaper electronics

Television and computer screens of the future could be brighter, clearer and more energy-efficient as a result of a process developed by a team of researchers from Canada and the Department of Energy''s Oak Ridge National Laboratory.

For more details on Synthesis of a conjugated organic polymer could result in more efficient, cheaper electronics click here

Completion of 3 phases of US$14.5 mln project to make molded fiber hinged lid carryout containers

The first three phases of a US$14.5 mln project to produce high-quality molded fiber hinged lid carryout containers and other products have been completed by Pactiv Corporation at its Moorhead facilitty.

For more details on Completion of 3 phases of US$14.5 mln project to make molded fiber hinged lid carryout containers click here

Supply issues push monomer prices higher in USA, lower in Asia

Spot prices for ethylene and propylene gained ground in USA last week as a result of tightening supply levels; while Asian markets barely regarded the shutdown of Formosa’s cracker shutdown as the endd of the cracker turnaround season amid thin market activity that combined to push prices lower, as per Chemorbis.

For more details on Supply issues push monomer prices higher in USA, lower in Asia click here

Dalian Port shut after an offshore pipeline explosion triggers major oil spill

One of China's largest ports - Dalian, has been shut after an offshore pipeline explosion triggered a major oil spill. This will add to pressure for stricter environmental standards in China, already reeling from a toxic copper mine leak in the south.

For more details on Dalian Port shut after an offshore pipeline explosion triggers major oil spill click here

Saudi Aramco, Dow extend deadline for bids to build a giant petrochemical project

Saudi Aramco and Dow Chemical Co have extended a deadline for companies to qualify for bidding to build a giant petrochemical project. This is an indication of the certainty of the project despite earrlier doubts about the cost.

For more details on Saudi Aramco, Dow extend deadline for bids to build a giant petrochemical project click here

Declining ethane production drives Nova’s contract with Hess Corporation

Nova Chemicals has signed a memorandum of understanding with Hess Corporation and Mistral Energy to buy and transport all the ethane produced from Hess's Tioga Gas Plant in North Dakota via a pipelinee to Alberta, Canada under a long-term arrangement.

For more details on Declining ethane production drives Nova’s contract with Hess Corporation click here

Asian naphtha falls

Benchmark Japan open-specification naphtha forwards for H2-August delivery were bid at US$613/ton against offers at US$616. Singapore naphtha swaps were at US$5.61 a barrel below Dubai crude, the Asiaan benchmark.

For more details on Asian naphtha falls click here

Petroquim restarts polypropylene unit in Chile

Polypropylene producer Petroquim has restarted operations in Chile after being out of service since February 2010, following an earthquake. Production rates are very low at about 10,000 tons, as the 1100,000 tpa plant as the testing phase is currently underway at the plant, until everything is normalized.

For more details on Petroquim restarts polypropylene unit in Chile click here

Vietnam first polypropylene facility on the roll

Polypropylene is Vietnam’s first petrochemical product to be manufactured from propylene gas from the Dung Quat Oil Refinery. The polypropylene plant rolled out its first product in the Dung Quat Econnomic Zone in Binh Son district, Quang Ngai province on July 15.

For more details on Vietnam first polypropylene facility on the roll click here

Upward trend in LDPE could revise on excess feedstock situation

Robust demand amid tight supplies has led to an uptrend in low density polyethylene (LDPE) prices. This could change due to a situation of excess feedstocks. Because of a surplus of natural gas, especcially in North America, low-density polyethylene (LDPE) feedstock ethylene is becoming less expensive, making it difficult for producers to justify price increases, as per ICIS.

For more details on Upward trend in LDPE could revise on excess feedstock situation click here

Saudi Kayan to begin trial runs at its integrated petrochemical steam cracker complex in Q3-2010

Saudi Kayan Petrochemical Company expects to begin trial runs at its integrated petrochemical steam cracker complex in the Jubail Industrial City in the third quarter of 2010, as pre-commissioning is on schedule.

For more details on Saudi Kayan to begin trial runs at its integrated petrochemical steam cracker complex in Q3-2010 click here

Assam Gas cracker project runs into delays leading to cost acceleration

Brahmaputra Cracker and Polymer Limited (BCPL) – known as the Assam Gas Cracker Project, has been faced with acute shortage of skilled manpower amid heavy rains this monsoon. This seems to have deceleerated the pace of commissioning of the project that is progressing slower than planned and is running almost 6 months behind schedule.

For more details on Assam Gas cracker project runs into delays leading to cost acceleration click here

Higher sales almost triple Sabic Q2 net profit

Higher sales and increased production have propped up Saudi Basic Industries Corp.’s Q2 net profit. The figures almost tripled to SAR 5.02 billion (US$1.34 billion), from SAR 1.81 bln a year ago on.

For more details on Higher sales almost triple Sabic Q2 net profit click here

Japan Polypropylene to close outdated PP plants in Kashima, Ichihara

In a bid to reduce costs, Japan Polypropylene Corp. will close two relatively old polypropylene plants in 2011, as per Platts. A 90,000 tpa plant at Kashima, operational since 1970, will be shut in Maay 2011.

For more details on Japan Polypropylene to close outdated PP plants in Kashima, Ichihara click here

BPCL offers 90,000 tons of low-aromatic naphtha for August-October lifting

Lackluster market sentiments have triggered weak demand set off by an influx of spot barrels expected next month in Asia. Bharat Petroleum Corp Ltd (BPCL) offers a total 90,000 tons of low aromatic naaphtha for August-October lifting from Mumbai.

For more details on BPCL offers 90,000 tons of low-aromatic naphtha for August-October lifting click here

Asian naphtha prices likely to continue waning for the rest of 2010

In view of a fleet of spot shipments from the Middle East amid lacklustre demand in the region, Asian naphtha prices are likely to continue waning for the rest of the year, as per ICIS news. The demannd situation was compounded with reduced demand from Formosa Petrochemical due to a recent outage at that forced the company to take off line its 700,000 tpa No 1 cracker in Mailiao for about 2-3 months.

For more details on Asian naphtha prices likely to continue waning for the rest of 2010 click here

Credit curbs implemented in China in late 2009 directed at property sector: fatal blow to petrochemical sector

June-quarter GDP grew 10.3% y-o-y, according to the National Statistics Board, a 1.6 percentage point decline from an 11.9% growth recorded in the first quarter. After showing robust growth in the firrst quarter, China’s economy has started to cool in the second quarter.

For more details on Credit curbs implemented in China in late 2009 directed at property sector: fatal blow to petrochemical sector click here

Global stock markets fall ahead of more key corporate earnings report: oil follows

Oil prices have dipped below US$76 in line with falling global stock markets ahead of more key corporate earnings report - International Business Machines Corp., Goldman Sachs Group Inc., Coca-Cola Coo.

For more details on Global stock markets fall ahead of more key corporate earnings report: oil follows click here

Polystyrene offers continue to retreat in Asia, Egypt

Since the beginning of the month, spot styrene prices in Asia have recorded decreases of around US$40/ton FOB Korea basis, as per Chemorbis. During the past week, styrene prices followed a volatile trrend in line with fluctuating oil prices – starting the week on a steady note, then moving lower as the week passed by, to finish the week US$15/ton lower than the prior week.

For more details on Polystyrene offers continue to retreat in Asia, Egypt click here

Reports indicate wavering of economic recovery: crude oil falls

Reports of a slowdown in US manufacturing has raised worries that fuel demand will slow. This information ahs pulled down crude oil prices for the third consecutive day to US$76.4 a barrel.
Oil priices trimmed earlier gains made after a rally in US equities.

For more details on Reports indicate wavering of economic recovery: crude oil falls click here

Honam Petrochemical to pay US$1.25 bln for Malaysia’s Titan Chemicals Corp

In a bid to increase revenue from overseas markets, South Korea’s second-largest ethylene maker Honam Petrochemical Corp has agreed to pay 1.5 trillion won (US$1.25 bln) to buy Malaysia’s Titan Chemiccals Corp.

For more details on Honam Petrochemical to pay US$1.25 bln for Malaysia’s Titan Chemicals Corp click here

PetroRabigh inks deal to supply propylene oxide to Saudi companies

Saudi Arabia's Petro Rabigh has inked a deal with Tasnee and Saudi Advanced Industries (SAIC) to supply propylene oxide to their planned joint-venture polyether polyol project. Rabigh will supply 100,,000 tons of propylene oxide to the project, which will produce 120,000 tons of polyether polyol and will cost up to SR 400 mln (US$106.

For more details on PetroRabigh inks deal to supply propylene oxide to Saudi companies click here

Lower PE offers to major global markets from the Middle East

Sources in several major global markets have reported receiving lower PE offers from major Middle Eastern producers this week, as per Chemorbis. Sluggish demand stemming from ongoing economic uncertaiinty was cited as the main factor behind producers’ price cuts, with many buyers waiting in the sidelines in anticipation of further price cuts.

For more details on Lower PE offers to major global markets from the Middle East click here

UOP, Total Petrochemicals’ technology produces plastics from feedstocks besides oil

UOP LLC, a Honeywell company, announced that Total Petrochemicals has successfully demonstrated UOP technology that will enable the use of feedstocks other than petroleum to produce plastics and otherr petrochemicals.

For more details on UOP, Total Petrochemicals’ technology produces plastics from feedstocks besides oil click here

Keyuan Petrochemicals adds desulfurization process at BTX Aromatics Refining Facility

Keyuan Petrochemicals, Inc., leading independent manufacturer and supplier of various petrochemical products in China, has completed and placed in service, effective July 1, 2010, a new desulfurizatioon process at its current refining facility for BTX aromatics.

For more details on Keyuan Petrochemicals adds desulfurization process at BTX Aromatics Refining Facility click here

Restart of Formosa’s 700,000 tpa No. 1 naphtha cracker within 2-3 months - Formosa Naphtha Cracker

Taiwan's Formosa Petrochemical Corp will restart its 700,000 tpa No. 1 naphtha cracker around end September or October, post-repairs, as per Reuters. Uncertainty shrouds the shutdown of its No. 2 craccker for maintenance, initially scheduled for maintenance on Aug.

For more details on Restart of Formosa’s 700,000 tpa No. 1 naphtha cracker within 2-3 months - Formosa Naphtha Cracker click here

Diverse views whether US polyethylene export prices have bottomed hinder trade

Diverse views on whether US polyethylene export prices have bottomed are hindering trade, as per Platts. Most traders agree that supply of all grades of polyethylene is tight, with prices hovering at 45 cents/lb in railcars.

For more details on Diverse views whether US polyethylene export prices have bottomed hinder trade click here

Borealis creates new Mobility business unit to support worldwide automotive customer

Borealis has announced creation of a new Mobility business unit organisation which will, together with Borouge, its joint venture in the Middle East and Asia, provide global supply capability to suppoort worldwide automotive Tier One and OEM customers.

For more details on Borealis creates new Mobility business unit to support worldwide automotive customer click here

Demand for PET impacted during past two years, global market in 2009 at 15.3 mln tons

Global demand for PET was growing fast over the last decade. The effect of the economic slowdown has adversely affected the consumption of various commodities in many countries globally. Hence, demandd for PET has also slowed down over the past two years.

For more details on Demand for PET impacted during past two years, global market in 2009 at 15.3 mln tons click here

Bearish outlook in China’s domestic PVC market

After following a mostly steady trend in June, domestic PVC prices started the month of July with price decreases, as per Chemorbis. Ethylene and acetylene based PVC prices decreased by CNY140-150/tonn (US$21-22/ton) on average in the first week of the month, according to ChemOrbis Price Index.

For more details on Bearish outlook in China’s domestic PVC market click here

Singapore-based Hengyang completes construction of storage tanks, petrochemical jetty

Singapore-based petrochemicals logistics services provider Hengyang has completed construction of 42 storage tanks and a petrochemical jetty at its Deqiao facility in the Jingjiang Petrochemical Indusstrial Zone in China's Jiangsu Province.

For more details on Singapore-based Hengyang completes construction of storage tanks, petrochemical jetty click here

Global petrochemicals prices decline for the third consecutive month in June

Prices decline for the third consecutive month in June in the global petrochemicals industry, causing the Platts Global Petrochemical Index (PGPI) to drop to US$1051/mt on June 30, the lowest level off 2010.

For more details on Global petrochemicals prices decline for the third consecutive month in June click here

Malaysia’s chemical and petrochemical industry poised for recovery in 2010

Malaysia’s chemical and petrochemical industry is poised for recovery this year based on better overall performance in the first five months, as per International Trade and Industry Minister Datuk Serri Mustapa Mohamed.

For more details on Malaysia’s chemical and petrochemical industry poised for recovery in 2010 click here

Aircraft powered only by solar energy completes its first night flight

The Solar Impulse aircraft, powered only by solar energy, has successfully completed its first night flight. The ultralight aircraft was airborne for a total of 26 hours - from 7 am on July 7 until 9 am the following day (Central European Time) - before finally landing as planned at Payerne airbase in Switzerland.

For more details on Aircraft powered only by solar energy completes its first night flight click here

ONGC doubles volume of naphtha for August from usual levels

In a bid to avoid getting caught in a weaker market, India’s Oil & Natural Gas Corp (ONGC) has doubled the volume it usually trades in one spot tender. ONGC has offered 70,000 tons of naphtha for Auguust loading, in a bid to sell as much as it can before sentiment worsens as demand weakens, as per Reuters.

For more details on ONGC doubles volume of naphtha for August from usual levels click here

NWE naphtha crack swaps plunge to lowest level in nine months

Northwest European naphtha crack swaps have plunged to their lowest level in nine months, according to Platts. Naphtha crack swaps represent the relative value of the product to crude. CIF NWE naphthaa crack swap for August was assessed on the over-the-counter market on Monday at minus US$5.

For more details on NWE naphtha crack swaps plunge to lowest level in nine months click here

New HDPE grades for industrial container applications advance manufacturers’ drive for greater cost-efficiency

SABIC’s two new High Density Polyethylene (HDPE) grades for Industrial Container applications - SABIC® HDPE ICP4907S and SABIC® HDPE ICP5602 - are commercially available for the global market from noww on.

For more details on New HDPE grades for industrial container applications advance manufacturers’ drive for greater cost-efficiency click here

PP offers from the Middle East to Turkey and Egypt at a premium over Asian offers

PP markets in Turkey and Egypt have been under continuous pressure from lower offers for Middle Eastern origins in Asia for the past few months, as per Chemorbis. Offers for PP from the Middle Easte iin Turkey and Egypt are carrying a premium over the done deal levels for the same origins reported in China and Southeast Asia.

For more details on PP offers from the Middle East to Turkey and Egypt at a premium over Asian offers click here

To clear inventories Styrene Monomer makers in USA ship product to Europe at loss

In order to clear inventories, US styrene monomer producers have sold at a loss to Europe, as per Platts. During the past week, about 20,000 tons of US material was sold for export to Europe with dealls concluded at or below 43 cents/lb.

For more details on To clear inventories Styrene Monomer makers in USA ship product to Europe at loss click here

Crude oil nears two-week highs after US stocks advance

US equities gained for the sixth straight day – kicking off the start of the quarterly earnings season on a positive note. Crude oil prices have risen by over two dollars, past US$77 to near two-week highs as stocks advance in US markets, spreading optimism of an economic recovery improves in USA that will stoke fuel demand.

For more details on Crude oil nears two-week highs after US stocks advance click here

Plastic bottles challenge and re-shape packaging demand

Substantial opportunities for the further penetration of plastic bottles in packaging markets have been identified by Applied Market Information Ltd, in its latest research project. In its report on ““Growth opportunities for blow moulded bottles in Europe”, AMI researchers found plenty of reason for blow moulders to be optimistic – especially those in PET.

For more details on Plastic bottles challenge and re-shape packaging demand click here

Indorama Polymers to set up US$12 mln PET recycling facility as expansion of Alabama plant

Indorama Polymers Public Company plans to expand its Alabama plant to set up a US$12 mln PET recycling facility to blend 25% of the recycled PET, which equals 100 tons a day, into virgin resin. The coompany is also considering its Asheboro, North Carolina plant as a potential site for bottle recycling.

For more details on Indorama Polymers to set up US$12 mln PET recycling facility as expansion of Alabama plant click here

Chevron Phillips restarts ethylene, cumene feed preparation units at Port Arthur, Texas

Chevron Phillips Chemical ethylene and cumene feed preparation units have restarted, according to a filing with the Texas Commission on Environmental Quality, as reported by Platts. The facility was sshut in mid-June following the loss of steam supply to the plant that produces approximately 1.

For more details on Chevron Phillips restarts ethylene, cumene feed preparation units at Port Arthur, Texas click here

Naphtha prices dip in Asia, cracks at 13 month lows

Naphtha prices in Asia have fallen from a six-session high, open spec prices for H2 August have fallen to US$620/MT. Naphtha cracks in Asia have ebbed to US$58.40/ton- their lowest level in almost 13 months as per Reuters.

For more details on Naphtha prices dip in Asia, cracks at 13 month lows click here

Sinopec, Marubeni in alliance for energy and petrochem projects in South America, Africa

Asia's number one refiner Sinopec Corp and Japanese trading company Marubeni Corp have formed an alliance for energy and petrochemical projects in regions like South America and Africa. Sinopec is seeeking partners with access to overseas resources and rich experience in international projects which the refiner lacks, as well as partners with strength in marketing refinery and chemical products.

For more details on Sinopec, Marubeni in alliance for energy and petrochem projects in South America, Africa click here

Optical enhancement, processing improvements for packaging, automotive, technical applications

Increasing sustainability through additive innovation is central to the many cutting-edge developments for polyolefins to be presented by Milliken at K 2010. Milliken will showcase pioneering possibillities in optical enhancement and processing improvements for packaging, automotive and technical applications, with the added bonus of energy reduction, less material consumption, and more cost-effective production.

For more details on Optical enhancement, processing improvements for packaging, automotive, technical applications click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 12, 2010

CRUDE OIL
Crude oil prices have risen to US$76 on the Nymex in the week of July 12, 2010. Optimism in stock markets and expectations of robust corporate earnings in USA have sustained market sentiments, and propped oil prices above US$76 a barrel in Asian trade.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 12, 2010 click here

Formosa to decide downtime at its naphtha unit after damage assessment

After gauging damage caused by a fire at its 700,000 tpa naphtha cracker, Formosa Petrochemical Corp will determine the duration of the shutdown by next week. A very small fire inside the pipe is makiing it unfeasible for the company to fully assess the damages or the duration of the shutdown.

For more details on Formosa to decide downtime at its naphtha unit after damage assessment click here

After rising 30%, Polypropylene prices in Europe pause for the first time in 2010

After rising by over 30% in the year, polypropylene (PP) prices in Europe have paused for the first time in 2010 as per ICIS, as average increase in July is pegged at no more than €5/ton (US$6/ton). IIn South Europe, PP prices have dipped by around €20/ton in the past week amid buoyant food packaging, health and hygiene sectors.

For more details on After rising 30%, Polypropylene prices in Europe pause for the first time in 2010 click here

Petron’s acquisition of 40% stake in Petrochemical Asia opens possibility to further integrate petrochemicals business

Oil refiner Petron Corp. has acquired, for an undisclosed amount, 40% stake in Petrochemical Asia (HK) Ltd. (PAHL), with an option to raise its interest to 51%. PAHL is the parent firm of Philippine PPolypropylene Inc.

For more details on Petron’s acquisition of 40% stake in Petrochemical Asia opens possibility to further integrate petrochemicals business click here

EFSA to delay opinion on BPA

The European Food Safety Authority (EFSA) has deferred until September, an opinion on bisphenol A (BPA), as review of the 800 research studies will take time. Experts dismissed the possibility of a loow dose effect on learning ability as expressed in the Danish DTU Food Institute risk assessment.

For more details on EFSA to delay opinion on BPA click here

Jacobs Engineering, Thailand’s PTT in alliance

Jacobs Engineering Group Inc. has signed a memorandum of understanding with PTT Maintenance and Engineering Co. Ltd., a leading maintenance and engineering contracting company based in Thailand. Undeer the three-year alliance agreement, Jacobs and PTTME will provide a wide range of services for capital projects to PTT and other clients in the petrochemical, refining, and utility sectors in Thailand.

For more details on Jacobs Engineering, Thailand’s PTT in alliance click here

Propylene prices on par with ethylene

In the 1970s, propylene was only priced at around 60% of the ethylene price. This value-leakage led producers to focus development effort on propylene derivatives, particularly polypropylene, as per IICIS.

For more details on Propylene prices on par with ethylene click here

Firmer crude, Formosa shutdown provide some support to C2, C3 prices in Asia

Spot ethylene and propylene prices gained some ground last week in Asia following two consecutive weeks of falling spot prices, as per Chemorbis. Firmer upstream markets coupled with news of Formosa’ss cracker shutdown are reported to be the main factors supporting the recent up-turn in the market level.

For more details on Firmer crude, Formosa shutdown provide some support to C2, C3 prices in Asia click here

Europes’ converted flexible packaging industry worth €20 bln

Converted flexible packaging represents one of the most complex and dynamic sectors of the European packaging industry and in a new report from Applied Market Information Ltd (AMI) has, for the first time , detailed the activities of 50 of the largest companies involved.

For more details on Europes’ converted flexible packaging industry worth €20 bln click here

Asian PET slips despite relatively firm feedstock costs

PET prices have moved south over the past week in Asia as sellers in the export market as well as the domestic Chinese market elected to reduce prices due to weakening demand as the traditionally highh season has started to ebb as per Chemorbis.

For more details on Asian PET slips despite relatively firm feedstock costs click here

South Asia Petrochem to build polyethylene terephthalate (PET) resin plant in Egypt

Plans are underway to build a polyethylene terephthalate (PET) plant in Egypt by India’s South Asia Petrochem (SAPL). To be built at an outlay of US$170 mln, at the approved site at Port Said, start-uup is planned for March 2012.

For more details on South Asia Petrochem to build polyethylene terephthalate (PET) resin plant in Egypt click here

Schulman resumes profitability in North America

A. Schulman Inc. has started making profits in North America again, with expectations of an improvement in its overall finances as the global economy continues showing signs of recovery. The company'ss third-quarter results included contributions from its newest acquisition, Houston-based polymer company ICO Inc.

For more details on Schulman resumes profitability in North America click here

ExxonMobil‘s PE & PP plants resume production

An outage had occurred at the beginning of the month is over at ExxonMobil’s polyolefin plant in Singapore. Production has resumed at the 600,000 tpa polyethylene (PE) plant and 405,000 tpa polypropyllene (PP) plant.

For more details on ExxonMobil‘s PE & PP plants resume production click here

August shipment HDPE cargoes resume by Marun Petrochemical from the 300,000 tpa Mahshahr plant

August shipment high density polyethylene (HDPE) film cargoes have been offered from Iran's Marun Petrochemical from the 300,000 tpa HDPE plant in Mahshahr, after the plant has restarted post-turnarouund, as per Platts.

For more details on August shipment HDPE cargoes resume by Marun Petrochemical from the 300,000 tpa Mahshahr plant click here

Buoyant equities, prospects of healthy corporate earnings in US sustain oil above US$76

Optimism in stock markets and expectations of robust corporate earnings in USA have sustained market sentiments, and propped oil prices above US$76 a barrel in Asian trade. New York's main contract, llight sweet crude for delivery in August, rose marginally to US$76 a barrel and Brent North Sea crude also for August inched up to US$75.

For more details on Buoyant equities, prospects of healthy corporate earnings in US sustain oil above US$76 click here

8.2% yoy fall in Japanese ethylene production in June

Japanese ethylene production witnessed an 8.2% fall from 509,700 tons in June 2010 as compared to 555,500 tons in June 2009, as per Reuters. Production was impacted by a larger number of maintenance sshutdowns this year- 4 four maintenance-related plant shutdowns vs three shutdowns seen last year.

For more details on 8.2% yoy fall in Japanese ethylene production in June click here

Cereplast to offer first grade of algae-based resins

Leading manufacturer of proprietary bio-based, sustainable plastics Cereplast’s plan to develop a new family of algae-based resins is making headway, with the first grade of Cereplast Algae Plastics® ready to be commercially available by end of 2010.

For more details on Cereplast to offer first grade of algae-based resins click here

BASF to discontinue Ciba JV plans with Astra Polymer, mull alternatives investment options

BASF and Astra Polymer Compounding Co. Ltd., Kingdom of Saudi Arabia, have arrived at a decision to discontinue plans for a joint venture to produce customer specific antioxidant blends (CSB) in the MMiddle East Region.

For more details on BASF to discontinue Ciba JV plans with Astra Polymer, mull alternatives investment options click here

Lower feedstock, lackluster demand pull down polystyrene spot prices in Asia, further declines expected

Spot PS prices continued to move lower this week in Asia triggered by lower feedstock costs and lackluster demand, as per Chemorbis. Demand for end products is not expected to pick up in the short terrm by processors at a time when the newer styrene capacities in China are exerting a continuous downward pressure on styrene prices.

For more details on Lower feedstock, lackluster demand pull down polystyrene spot prices in Asia, further declines expected click here

Electronics applications to boost polymer blends and alloys demand in Europe

The European polymer blends and alloys market will increase from €346 mln in 2009 to €453 mln in 2016, according to Frost & Sullivan’s report on European polymer blends and alloys markets. The upswingg will be driven by high growth potential in eastern Europe, particularly for electronics applications.

For more details on Electronics applications to boost polymer blends and alloys demand in Europe click here

Wuhan Petrochemical Co’s new ethylene project to see investment of 4 bln yuan

Wuhan Petrochemicals is to complete the construction of an 800,000 tpa ethylene plant by end of 2012. The company plans to invest 4 billion Yuan in 2010 in its new ethylene project, to be spent in connstruction of infrastructure and utilities like water supply, electricity, roads and other facilities.

For more details on Wuhan Petrochemical Co’s new ethylene project to see investment of 4 bln yuan click here

Sinopec announces reduction in PE offers

To cope with high inventories in the domestic market and low demand, with effect from July 7, Sinopec has reduced offers for linear low density polyethylene on an ex-works basis by 11.8% on the month to Yuan 9000/MT (US$1328/MT), as per Platts.

For more details on Sinopec announces reduction in PE offers click here

Development of Iran’s oil, gas and petrochem sectors hampered by fresh UN and US sanctions

An additionally blow has been felt by the oil, gas and petrochem sector in Iran with a fresh round of United Nations and US sanctions. This will hamper Iran’s ability to further develop these sectors,, as per ICIS.

For more details on Development of Iran’s oil, gas and petrochem sectors hampered by fresh UN and US sanctions click here

Sustainability and innovations in thin wall plastics packaging

Thin wall plastics packaging includes tubs, cups, jars, trays and ready meal dishes. It is used to preserve and protect a wide variety of items including yoghurt, margarine, ice cream, bakery goods, fruit and vegetables, pre-prepared meals, soup, and now also long-term packaging of items including fish.

For more details on Sustainability and innovations in thin wall plastics packaging click here

High pressure cylinders from lightweight, cost competitive, advanced composite materials

High pressure cylinders for motor vehicles that use Compressed Natural Gas (CNG) for their propulsion can now benefit from lightweight, cost competitive, advanced composite materials. With the developpment of HiPer-tex™ high performance glass fibre from 3B, GASTANK Sweden AB, is now able to produce a cylinder that meets the very stringent ECE R110 regulation governing the use of type IV high pressure cylinders containing CNG for motor vehicles.

For more details on High pressure cylinders from lightweight, cost competitive, advanced composite materials click here

Polymer imports for May dragged down in China, Turkey

In China, the country imported a total of 1,246,000 tons of plastics in May, indicating a decrease of more than 113,000 tons from April and a larger decrease of 455,000 tons from March, when the counttry set an all-time high for plastic imports.

For more details on Polymer imports for May dragged down in China, Turkey click here

Naphtha cracks down to 8 month lows in Asia

Naphtha cracks - the premiums/losses from refining Brent crude into naphtha, have dropped by over 5 dollars to US$76/ton. Cracks have ebbed to their lowest since Oct. 16, 2009 on concerns over demand on news of a fire that forced a shutdown at Taiwan's Formosa Petrochemical Corp’s 700,000 tpa naphtha cracker for about a month.

For more details on Naphtha cracks down to 8 month lows in Asia click here

Formosa shuts naphtha unit after fire

A fire caused by a possible leakage at a distillation tower has forced a shutdown at Taiwan's Formosa Petrochemical Corp’s 700,000 tpa naphtha cracker. The fire is currently under control and that theere were no fatalities, but has affected other units in the facility, including a unit that produces pygas.

For more details on Formosa shuts naphtha unit after fire click here

India invites German investment in chemical and petrochemical sector

India has invited German investment in the fast growing chemical and petrochemical sector in India. Shri Srikant Kumar Jena, Minister of State for Chemicals & Fertilizers, who was on a three day visiit to Germany, extended the invitation during a meeting with Mr.

For more details on India invites German investment in chemical and petrochemical sector click here

China inks MOU with Nigeria to build US$8 bln oil refinery

Nigeria National Petrolium Company has signed an MOU with China State Construction Engineering Corporation for building an oil refinery in Nigeria. The Lagos refinery is part of a larger deal to buildd three new refineries and a petrochemical complex in Nigeria.

For more details on China inks MOU with Nigeria to build US$8 bln oil refinery click here

China inks MOU with Nigeria to build US$8 bln oil refinery

Nigeria National Petrolium Company has signed an MOU with China State Construction Engineering Corporation for building an oil refinery in Nigeria. The Lagos refinery is part of a larger deal to buildd three new refineries and a petrochemical complex in Nigeria.

For more details on China inks MOU with Nigeria to build US$8 bln oil refinery click here

Crude rises on signs of a recovery in US, China

Crude oil prices have risen to levels of US$75 on signs of recovery in USA and China. Oil prices have climbed to their highest level in a week on reports of gains in US retail sales at an average montthly rate of 4% in the five months to June, and a drop in crude inventories.

For more details on Crude rises on signs of a recovery in US, China click here

Qatofin’s LLDPE plant to attain full capacity in H1-2011

Qatofin’s 450,000 tpa linear low-density polyethylene plant will reach full capacity by early part of 2011. Current run rates at the plant are pegged at 80% capacity, and remain at this level till endd of year.

For more details on Qatofin’s LLDPE plant to attain full capacity in H1-2011 click here

New technique to improve efficiency of biofuel production

A more efficient technique for producing biofuels from woody plants significantly reduces waste that results from conventional biofuel production techniques has been developed by researchers at North Carolina State University.

For more details on New technique to improve efficiency of biofuel production click here

Egypt's EGPC reissues tender to sell unsold naphtha for Aug-Sep

The Egyptian General Petroleum Corporation (EGPC) has reissued a tender to sell up to 50% of the surplus naphtha cargoes from its H2-10 term cycle, as per Platts. The tender was issued to sell up to 77 heavy full-range naphtha parcels of 35,000 tons each, over August-September.

For more details on Egypt's EGPC reissues tender to sell unsold naphtha for Aug-Sep click here

Foster Wheeler awarded EPCm contract for new cogeneration plant by Dow in Germany

A subsidiary of Foster Wheeler AG’s Global Engineering and Construction Group has been awarded an engineering, procurement and construction management (EPCm) contract by Dow Deutschland Anlagengesellsschaft mbH for a new cogeneration facility to be installed within Dow's existing chemical complex at Stade, Germany.

For more details on Foster Wheeler awarded EPCm contract for new cogeneration plant by Dow in Germany click here

Propylene plant start up delayed by Petrologistics to August

Petrologistics has delayed by one month, the start up of ts 500,000 tpa propylene plant at Houston, Texas. Start up of the propylene plant, which is expected to be the largest propane dehydrogenation plant in the world, has been delayed to the middle or end of August, as per Platts.

For more details on Propylene plant start up delayed by Petrologistics to August click here

Saudi financial company to launch petrochem ETF for petrochemical shares on bourse

Saudi's Falcom Financial Services plans to launch an exchange-traded fund (ETF) for Saudi petrochemical shares on the Kingdom’s bourse as per Reuters. After granting foreign share ownership via swap aagreements in 2008, the Kingdom has allowed local brokerages to launch ETFs, in a bid to attract more investment to its bourse.

For more details on Saudi financial company to launch petrochem ETF for petrochemical shares on bourse click here

Q3-10 starts on a weak note for Asian propylene

Spot propylene prices have posted decreases of over US$110/MT in the past month in Asia. As per Chemorbis, month-over-month increases for the first 4 months of 2010 were followed by a decline of US$2990/ton when compared with the beginning of May.

For more details on Q3-10 starts on a weak note for Asian propylene click here

UOP, Total Petrochemicals reveal technology to produce plastics from other feedstocks

UOP LLC, a Honeywell company has announced that Total Petrochemicals has successfully demonstrated UOP technology that will enable the use of feedstocks other than petroleum to produce plastics and otther petrochemicals.

For more details on UOP, Total Petrochemicals reveal technology to produce plastics from other feedstocks click here

Oil prices rise amid optimism in stock markets and rising euro

Gains in the stock markets and a rising euro have pushed up oil prices to over US$72.5 a barrel in Asia. Stocks markets rose e and Asia as the euro advanced to US$1.2594. Markets in USA were closed foor the Fourth of July holiday.

For more details on Oil prices rise amid optimism in stock markets and rising euro click here

Global medical plastics market to exceed 10 bln lbs by 2015

Global medical plastics market is projected to exceed 10 billion lbs by the year 2015 as per a report by Global Industry Analysts, Inc. Biocompatibility, autoclavability, chemical resistance, transparrency, and the ability to produce complex shapes make plastics an ideal choice for medical applications.

For more details on Global medical plastics market to exceed 10 bln lbs by 2015 click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 5, 2010

CRUDE OIL
In the week of July 5, 2010, crude oil futures have fallen to US$72 levels, dropping for the fifth consecutive day on growing concerns as econnomic data continues to indicate a stalling economic recovery.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended July 5, 2010 click here

Import PE stocks decline amid new capacity start ups in China - markets in uncertainty

Traders in China seem to have rid themselves of most of the excess stock levels that had been plaguing them over the past few weeks, giving import PE prices a boost at the lower end of the range, as pper Chemorbis.

For more details on Import PE stocks decline amid new capacity start ups in China - markets in uncertainty click here

DSM inaugurates new production facility for Stanyl ForTii

Royal DSM N.V has inaugurated its new Stanyl® ForTii™ production unit. As announced in May 2009, the new facility has quadrupled production capacity for Stanyl ForTii in order to meet market demand foor this new polymer, which is used in electronics and other applications.

For more details on DSM inaugurates new production facility for Stanyl ForTii click here

Rapid Granulator exits restructuring process, holds positive future outlook

Rapid Granulator AB has successfully completed the restructuring process which the company began in October 2009. This restructuring process which only affected Rapid’s Swedish operation provided for protection against old debts under Swedish law while allowing it to continue normal business operations.

For more details on Rapid Granulator exits restructuring process, holds positive future outlook click here

Middle Eastern PE offers at a premium in Egypt

Middle Eastern producers announced their PE prices to Egypt while overall offer levels indicate decreases from their June levels, as per Chemorbis. Middle Eastern LDPE offers represent US$10-40/ton deecreases from June while HDPE is US$30-80/ton lower and LLDPE is down by US$40-80/ton compared to last month.

For more details on Middle Eastern PE offers at a premium in Egypt click here

Qatofin exports 4,500 tons of ethylene from Ras Laffan Olefins Company (RLOC)

Qatofin has exported about 4,500 tons of ethylene from the Ras Laffan Olefins Company (RLOC), shipping it via Norgas, the company’s ethylene shipping contractor.
Commercial operations were started inn May at Qatofin, a joint venture involving Qatar Petrochemical Company (Qapco, 63%), Total Petrochemicals of France (36%) and Qatar Petroleum (1%).

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Crude oil falls for fifth consecutive day on disappointing economic data

Crude oil futures have fallen to US$72 levels, falling for the fifth consecutive day, on growing concerns as economic data continues to inducate a stalling economic recovery. Oil prices continue to faall, topping their steepest weekly decline since early May on investor concerns that global economic growth could slow in H2-10 and drag crude demand down with it.

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700,000 tons of spot naphtha for July-Aug loading from Middle East to further dampen markets

The already damp Asian markets could witness further deterioration in market outlook and sentiments with a supply glut from the Middle East. As per Reuters, almost 700,000 tons of spot naphtha for Jully-August loading will be exported by 4 major Middle East producers (Saudi Aramco, Tasweeq, Adnoc, KPC) at a time when naphtha demand has been affected by sluggish buying interest from China.

For more details on 700,000 tons of spot naphtha for July-Aug loading from Middle East to further dampen markets click here

ExxonMobil’s PE supply from Singapore affected by outage

Exxon Mobil Corp.’s polyethylene supply from Singapore is affected due to an outage at its 480,000 tpa plant. "There is an ongoing outage at our Singapore manufacturing site," and consequently, its poolyethylene supply is affected, said a company spokeswoman, without elaborating.

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Schulman expands support for polymer research at the University of Akron

A. Schulman, Inc., as part of its ongoing collaboration with the University of Akron, is donating US$$120,000 worth of laboratory equipment to the College of Polymer Science and Polymer Engineering.

Dr.

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BASF to discontinue plans for a joint venture to with Astra Polymer in Saudi Arabia

BASF and Astra Polymer Compounding Co., Ltd. have decided to discontinue plans for a joint venture to produce customer specific antioxidant blends (CSB) in the Middle East Region. The joint venture pllans were based on an agreement between Astra Polymer and the Plastic Additives business of former Ciba AG which has been acquired by BASF in 2009.

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Siam Cement, partners plan to fund a petrochemical plant in Vietnam

Siam Cement, Thailand’s number three company by market value has increased investments in petrochemical plants in Thailand and Vietnam. Siam Cement, Qatar Petroleum and Vietnamese government have parttnered for the 1.

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Protests on against petrochemical plant in Changhua

An opposition rally was staged in front of the Ministry of the Interior's Construction and Planning Agency by a group of Changhua residents and environmental activists, to protest the building of a neew petrochemical complex.

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Start up of Siam Cement’s US$1.2 bln petrochemical plant to boost profit

Siam Cement expects a boost to this year’s profits with the start up of a US$1.2 bln petrochemical plant that will triple the size of high-margin petrochemical products produced by the Thai company. UUnder current conditions, the Thai major is witnessing a slowdown in domestic sales of cement, ceramic tiles and other building materials.

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Reliance’s naphtha deal with Glencore results in half the premiums it had fetched for an earlier parcel

India’s Reliance Industries has sold 50,000 tons of naphtha for end July loading to Glencore at a premium of US7/ton to Middle East quotes on free on board basis. This translates to barely 50% of the premiums it had fetched for an earlier parcel.

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Naphtha exports from Europe to Asia could reach zero levels in June

There may be no shipments of naphtha from Europe to Asia in July, akin to the supply scenario in March 2010. Naphtha forward prices are slated to get more expensive than those for prompt delivery for the first time in 8 months, since naphtha exports from Europe to Asia may plunge as demand from Chinese chemical producers slows.

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US EPA officially upends Texas air permitting program that violates the Clean Air Act

Some of USA’s largest refineries are in a state of uncertainty on news that the US Environmental Protection Agency has officially overturned a 16-year-old Texas air permitting program that is said to violates the Clean Air Act.

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Improvement in July demand reported by Asian PVC sellers

Despite ongoing concerns about the health of the global economy and a slackening real estate market in China, Asian PVC sellers are reporting better demand in the region for July, as per Chemorbis. Thhe spurt in demand has been prompted by a need on part of the buyers to replenish their stocks after drastically reducing their purchases in both May and June.

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Total Petrochemicals gets EU nod to acquire Polimeri’s polystyrene plant

The European Commission has given a nod of approval to Total Petrochemicals Feluy (TPF) to acquire the polystyrene production lines of Polimeri Europa at Feluy, a subsidiary of Italian oil and gas commpany Eni (E).

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Possible withdrawal by ExxonMobil from a US$6 bln petrochem JV with Qatar Petroleum

US based ExxonMobil is speculated to be withdrawing from a US$6 bln joint venture petrochemicals project with Qatar Petroleum (QP). Once this decision has been reached by Exxon, QP hopes to fill in thhe gap by participation from France’s Total and the UK/Dutch Shell Group who already have agreements in place to develop new petrochemicals schemes with QP.

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Crude oil prices plunge by over 2 dollars on fears of stalled economic recovery

Light, sweet crude for August delivery plunged by over US$2.50 to US$72.95 a barrel on concerns over the diminishing pace of economic recovery, negatively impacting expectations for increased oil demaand.

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Manjushree Technopack to introduce barrier technology to India’s carbonated soft drink market

Manjushree Technopack is exploring addition of multilayer preform technology desired by Coca-Cola to bring barrier technology to the India’s carbonated soft drink (CSD) market to boost shelf life, as per Modern Plastics Worldwide.

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Efficient and economic process to convert natural gas into ethylene

An efficient and economic process to convert natural gas into ethylene is being developed by Siluria Technologies. Siluria is working on a proprietary catalytic process for the direct conversion of naatural gas into ethylene.

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Hyundai Engineering and Construction Co awarded contract Abu Dhabi Polymer Company

Hyundai Engineering and Construction Co has been awarded a US$930 mln order to build petrochemical facilities from the UAE's Abu Dhabi Polymer Company. Hyundai said the order was part of a US$2.6 bln project to build the world's largest petrochemical plant.

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Use of YNCC’s largest ethylene storage tank in Yeosu scheduled to restart

A leakage in the largest tank at South Korea's Yeochun Naphtha Cracking Center (YNCC) in May, led to a shutdown. Contents of the 10,000 ton capacity ethylene tank were emptied and transferred to threee other tanks with a capacity of 5,000 tpa at the same site.

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European polymer blends market fuelled by Eastern Europe and niche applications

Hard hit by the global economic slowdown in 2009, the European polymer blends and alloys market is on the upswing again, thanks mainly to high growth potential in Eastern Europe, particularly for elecctronics applications, as per a report by Frost and Sullivan.

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Sinopec resumes construction of ethylene unit at Wuhan

China Petroleum & Chemical Corp. (Sinopec) has embarked upon a program to expand an oil refinery in Wuhan city and resumes construction of an ethylene unit at the plant. Construction work on the 800,0000 tpa ethylene plant was halted in 2008 because of the financial crisis.

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Steep decline in Asian ethylene margins triggered by weak polyethylene market in China

A steep decline in Asian ethylene margins seems to have been largely triggered by the perturbing state of China's polyethylene (PE) market as per ICIS at the time of a supply glut in the region. PE opperating rates have been reduced in Saudi Arabia, resulting in increased availability of merchant ethylene, while surplus material is available from Shell Chemicals complex in Singapore with the commissioning of the 800,000 tpa steam cracker- both these factors contribute to the supply surplus.

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Spot propylene prices posting gradual decreases in Europe since end of May

After having risen for five consecutive months in Europe, spot propylene prices have been posting gradual decreases since the last week of May, losing €60-85/ton as per Chemorbis. Europe’s spot propyllene market started 2010 on a firm note, with prices maintaining their upward rally until May.

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BASF develops first crack resistant foam

BASF developed E-por, a material which is based on a new formulation and is manufactured in a new production process. E-por is the first tough-elastic, crack-resistant foam which can be transported, sstored, processed and recycled like traditional Styropor.

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Borouge inks EPC contracts for Borouge 3 strategic expansion in Abu Dhabi

Borouge has formally signed three major Engineering, Procurement and Construction (EPC) contracts valued at approximately US$2.6 bln for its Borouge 3 strategic expansion in Ruwais, Abu Dhabi. The conntracts were signed between Borouge and Tecnimont, Samsung Engineering, and Hyundai Engineering and Construction.

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