As new domestic capacities come onstream, most of China's petrochemical imports continue to fall

For the fourth consecutive month, most of China's petrochemical imports fell in the month of July. The dip has been triggered by a continued slowdown in the country's economy, weak downstream and new capacity additions from Sinopec, including its Tianjin and Zhenhai crackers, as per ICIS.

For more details on As new domestic capacities come onstream, most of China's petrochemical imports continue to fall click here

Ineos Nova, DuPont plan polymer price hike from September

Ineos Nova and DuPont have announced price increases from next month.
Ineos Nova will hike the price of its general purpose and expanded polystyrene by €50/ton and high impact polystyrene by € 65, wwith effect from September 1, due to expected feedstock increases.

For more details on Ineos Nova, DuPont plan polymer price hike from September click here

Kuokuang complex will ensure competitiveness of Taiwan's petrochemical sector

Taiwan’s Minister of Economic Affairs has stated that though the planned Kuokuang petrochemical plant has met with opposition on environmental concerns, its construction seems imperative to ensure thee competitiveness of Taiwan's petrochemical sector.

For more details on Kuokuang complex will ensure competitiveness of Taiwan's petrochemical sector click here

Equity markets strengthen, oil rises lingers near US$73

Oil prices have risen to hover around US$73 a barrel, moving up with regional stock markets. Benchmark crude for October delivery rose to US$72.9 on the Nymex.
Reports released in USA last week, indiicated weak numbers for new home sales and durable goods orders.

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Keyuan Petrochemicals in land use right transfer agreements with local government of Ningbo

Keyuan Petrochemicals, Inc., has entered into land use right transfer agreements with the local government of Ningbo, Keyuan has acquired four plots of land adjacent to the Company's current facilitiies totaling approximately 1.

For more details on Keyuan Petrochemicals in land use right transfer agreements with local government of Ningbo click here

DuPont commences production of polyvinyl fluoride (PVF) at Fayetteville

DuPont has commenced production of polyvinyl fluoride (PVF) polymer resin at Fayetteville, North Carolina. PVF is a critical raw material used to make DuPont Tedlar PVF film, that is an essential compponent of photovoltaic (PV) backsheets.

For more details on DuPont commences production of polyvinyl fluoride (PVF) at Fayetteville click here

Vietnam Oil and Gas Group receive first petrochemical plant from Huyndai

Huyndai Engineering and Construction Company (HEC) has handed over Vietnam’s first petrochemical plant to Vietnam Oil and Gas Group. The US$234 mln Polypropylene plant in the central province of Quanng Ngai has a capacity to produce 150,000 tpa of PP with feedstock propylene sourced from the Dung Quat Oil Refinery.

For more details on Vietnam Oil and Gas Group receive first petrochemical plant from Huyndai click here

LyondellBasell adds another 320,000 tons of HDPE capacity in Europe

In a move towards strategic growth, LyondellBasell is moving ahead with strategic growth, adding another 320,000 tons of HDPE capacity in Europe, as per Plasticsnews. Output from the Münchsmünster, Geermany plant is even better than current bi-modal material.

For more details on LyondellBasell adds another 320,000 tons of HDPE capacity in Europe click here

Sabic inks technology licensing agreement with Germany’s Lurgi at Saudi Kayan

Saudi Basic Industries Corporation (SABIC) has signed an agreement with Lurgi GmbH, for the technology licensing and engineering that will allow SABIC to produce oleo-chemicals at its affiliate, Saudii Kayan Petrochemical Company (Saudi Kayan), following the completion of new facilities to be constructed in Jubail.

For more details on Sabic inks technology licensing agreement with Germany’s Lurgi at Saudi Kayan click here

Dow’s UNIPOL™ Polypropylene (PP) Technology growing at a rapid pace in China

The use of UNIPOL™ Polypropylene (PP) Technology from Dow Basic Plastics Licensing and Catalysts continues to grow at a rapid pace in China. China Shenhua Coal to Liquid and Chemical Baotou Coal Chemiical Company is the latest company to start up a plant using this technology and is the first in China to manufacture PP made from coal-generated olefins.

For more details on Dow’s UNIPOL™ Polypropylene (PP) Technology growing at a rapid pace in China click here

Temporary tightness in global polyolefin markets

A series of seemingly temporary factors has kept global polyolefins markets very tight as per ICIS. Few long existing factors have also contributed to supply constraints, making it easier to absorb nnew capacities.

For more details on Temporary tightness in global polyolefin markets click here

Contrary to oil prices dips, Asian monomers firm

Spot monomer prices in Asia have moved up this week despite the persistent declines in crude oil prices tanking crude oil to US$73/barrel this week, as per Chemorbis. This discrepancy in direction of upstream markets has generated confusion among polymer buyers, as most buyers elect to remain on the sidelines for the present in hopes that a clearer picture of the market direction will emerge over the next few days.

For more details on Contrary to oil prices dips, Asian monomers firm click here

BPCL cancels tender to sell 15,000-20,000 tons of naphtha for August 26-27 loading

Bharat Petroleum Corp Ltd (BPCL) has cancelled a tender to sell 15,000-20,000 tons of naphtha for Aug. 26-27 loading, because specifications of the parcel did not meet industry standards. The state-owwned refiner is considering blending back the volumes to meet the norms, leading to better price realization.

For more details on BPCL cancels tender to sell 15,000-20,000 tons of naphtha for August 26-27 loading click here

Fire compels Sinopec to shut a furnace at 800,000 tpa ethylene plant in East China

A fire compelled Sinopec Corp. to shut a furnace at an 800,000 tpa ethylene plant at Qilu, East China. Shutdown duration is unknown. The accident was caused by an oil leak from a pipeline shut in No.77 furnace at Qilu in eastern Shandong province.

For more details on Fire compels Sinopec to shut a furnace at 800,000 tpa ethylene plant in East China click here

Mitsui Chemicals suspends operations at naphtha cracker with 553,000 tpa ethylene capacity

Japan’s Mitsui Chemicals has suspended operations at a naphtha cracker with 553,000 tpa ethylene capacity. The Ichihara plant in Chiba prefecture faced a problem with equipment, leading to the shutdowwn.

For more details on Mitsui Chemicals suspends operations at naphtha cracker with 553,000 tpa ethylene capacity click here

Cracker outages propel ethylene spot prices to 3 month highs in SE Asia

Additional cracker outages this week leading to a scramble for spot material have propelled ethylene spot prices to three month highs of US$1000/ton in Southeast Asia. As per ICIS, a deal for a 3,000 ton cargo loading H1 September was reported at US$1000/ton FOB SE Asia, while bids for additional September shipments were in the mid to high US$900s/ton FOB SE Asia.

For more details on Cracker outages propel ethylene spot prices to 3 month highs in SE Asia click here

New polymer clots blood at a fast pace

A new blood-clotting material has been developed by a team from University of Maryland in College Park. This is a hydrogel, a Jell-O–like mixture of water and the fibrous polymer acrylamide, with posiitively charged nitrogen-containing groups.

For more details on New polymer clots blood at a fast pace click here

Nova Chemicals plans maintenance at Joffre plant in Alberta

Canada’s largest petrochemical producer Nova Chemicals, plans maintenance at its Joffre chemical plant (Alberta), where it houses three ethylene plants. Flaring associated with the maintenance is expeected to continue until “late afternoon”.

For more details on Nova Chemicals plans maintenance at Joffre plant in Alberta click here

ConocoPhillips declares force majeure on PP copolymer in USA for August, September

US polypropylene maker ConocoPhillips has declared force majeure (FM) on its copylene impact copolymers deliveries in August and September, as per Platts. An equipment breakdown coupled with feedstockk shortages has caused the supply constraints.

For more details on ConocoPhillips declares force majeure on PP copolymer in USA for August, September click here

Naphtha prices in Asia continue to dip, falling for fourth consecutive session

Naphtha prices in Asia continued to dip, falling for the fourth straight session to settle at nearly a month-low, and physical cracks have eased from an 11-week high on muted spot demand in South Koreea, as per Reuters.

For more details on Naphtha prices in Asia continue to dip, falling for fourth consecutive session click here

Jacobs Engineering receives contract to provide engineering services for Indian Oil’s Assam project

Jacobs Engineering Group Inc. has received a contract from IOT Infrastructure & Energy Services Limited (IOT) to provide engineering services for Indian Oil Corporation Ltd.'s (IOCL) Delayed Coker Uniit (DCU) project.

For more details on Jacobs Engineering receives contract to provide engineering services for Indian Oil’s Assam project click here

Chemtura resolve liabilities at contaminated sites in USA for US$26 mln

The US Environmental Protection Agency (EPA), the U.S. Justice Department, and the United States Attorney for the Southern District of New York have announced that Chemtura Corporation has agreed to rresolve its liabilities at contaminated sites across the U.

For more details on Chemtura resolve liabilities at contaminated sites in USA for US$26 mln click here

Oil prices on the rise for second day

Crude oil for October delivery mounted to US$72.9 on the Nymex from yesterday’s 72.5. Oil prices are on the rise for the second day in line with a recovery in equities amid investors’ theory that crudde prices declined in excess of the outlook for the global economy.

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September shipment PE offers from Asia, Middle East unlikely to get climb as crude weakens

Persistently weakening crude oil prices over the past week could hamper Asian and Middle Eastern producers’ efforts to raise polyethylene (PE) prices for September shipments, as per ICIS. Weakening oiil prices could fuel strong buyer resistance to the proposed hikes because regional PE importers typically keep away from the market when crude oil values dip.

For more details on September shipment PE offers from Asia, Middle East unlikely to get climb as crude weakens click here

PTT, Siam Cement hopeful of mobilizing most halted petrochemical projects in Map Ta Phut

Thailand’s PTT and Siam Cement are optimistic of mobilizing all but one of its petrochemical projects in Map Ta Phut that have been halted as a result of the courts suspension orders on environmental concerns.

For more details on PTT, Siam Cement hopeful of mobilizing most halted petrochemical projects in Map Ta Phut click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 23, 2010

CRUDE OIL
Oil prices continue to move south in the week of August 23, 2010. The dip has been persistent amid sell-off in stocks and a strengthening dolllar.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 23, 2010 click here

Honam Petrochemical to pay US$1.25 bln in cash to acquire Titan Chemicals

South Korea’s Honam Petrochemical will pay about US$1.25 bln in cash to acquire Titan Chemicals Corporation, as per Plasteurope. Following an initial takeover of 72.6% of the shares held by Titan headd and the state-run Permoladan Nasional, Honam plans to squeeze out the remaining shareholders.

For more details on Honam Petrochemical to pay US$1.25 bln in cash to acquire Titan Chemicals click here

Reduced September polyethylene production in Qatar to impact Asian markets

Qatar's production of polyethylene for September shipments is expected to be down, as per Platts. This reduction in low density polyethylene allocation from Qatar Petrochemical Company (Qapco) in Septtember, is expected to increase tightness in Asia.

For more details on Reduced September polyethylene production in Qatar to impact Asian markets click here

Shell Chemicals successfully completes first turnaround at Nanhai, its JV with CNOOC

Shell Chemicals announced the successful first turnaround at the CSPCL - "Nanhai" petrochemicals joint venture complex in Guangdong, China. Nanhai is a joint venture with China National Offshore Oil CCompany (CNOOC).

For more details on Shell Chemicals successfully completes first turnaround at Nanhai, its JV with CNOOC click here

Mixed financial results from petrochemical companies in South Korea

South Korean companies have revealed their financial results for Q2-2010 over the week. Some petrochemical companies saw considerably better figures for the April-June period, as per Chemorbis. A stattement from the Central Bank that South Korea’s economy grew 1.

For more details on Mixed financial results from petrochemical companies in South Korea click here

Oil sink to US$72 on economic concerns

Asia’s regional markets have had a fall amid recent concerns about the pace of the global economic recovery. These concerns have tanked oil prices to US$72 a barrel that have fallen more than US$9 sinnce the beginning of August.

For more details on Oil sink to US$72 on economic concerns click here

Petro Rabigh to achieve on-spec production at fluid catalytic cracker

Saudi Arabia's Petro Rabigh expects to achieve on-spec production at its fluid catalytic cracker at Rabigh by mid week, as per Platts. Though in the process of restarting, the 900,000 tpa propylene caapacity FCC, has yet to attain on-spec production.

For more details on Petro Rabigh to achieve on-spec production at fluid catalytic cracker click here

LyondellBasell continues with FM on PP supplies from Carrington

LyondellBasell continues with force majeure on supplies of polypropylene (PP) from its 210,000 tpa plant at Carrington, UK, as per ICIS. No information is available on the status of the plant. Shut siince the weekend of 7-8 August, the plant was not running even in the next week, after which there have been no updates on the status of the plant.

For more details on LyondellBasell continues with FM on PP supplies from Carrington click here

Locals accept Formosa’s compensation offer at a meeting chaired by county government

Residents in the vicinity of Formosa Plastics Group’s naphtha cracker in Mailiao, Yunlin County, have accepted the company’s compensation offer at a meeting chaired by the county government.
The ressidents of Mailiao and of nearby Taihsi accepted FPG’s offer to compensate for the damage from the fire to their crops and fish.

For more details on Locals accept Formosa’s compensation offer at a meeting chaired by county government click here

Global ethylene oxide market forecast to grow at CAGR of 4.5% from 2009 to 2020

The global ethylene oxide (EO) market has been growing at a CAGR of 4.4% from the year 2000 to 2009. It is forecasted to grow at a CAGR of 4.5% from the year 2009 to 2020. Global demand for Ethylene GGlycol (EG) is expected to grow from 18.

For more details on Global ethylene oxide market forecast to grow at CAGR of 4.5% from 2009 to 2020 click here

Amid robust sentiments, EGPC offers 350,000 tons naphtha for September-December

Amid robust sentiments, Egyptian General Petroleum Corp (EGPC) has offered 350,000 tons of naphtha for September-December by tender. Market sentiment is strong due to short-covering by buyers. One parrcel is being offered for September, three cargoes each for October and November, three cargoes in December, of which one is an optional cargo.

For more details on Amid robust sentiments, EGPC offers 350,000 tons naphtha for September-December click here

Propylene firms in Asia, stablises in Europe and US

Spot propylene prices in Asia remained firm over the past week, with supply limitations pushing prices higher despite the ongoing decline in crude oil prices, as per Chemorbis. Meanwhile, spot propyleene prices in Europe and USA were mostly stable during periods of relatively limited market activity.

For more details on Propylene firms in Asia, stablises in Europe and US click here

Celanese increases production at North Carolina Plant

In a bid to meet an increased global demand, one of Celanese Corporation’s strategic affiliates - Fortron Industries, will increase production of Fortron polyphenylene sulfide (PPS), at Wilimington. TThe North Caroline plant is the world’s largest linear PPS operation with capacity to produce 15,000 tpa.

For more details on Celanese increases production at North Carolina Plant click here

Time Technoplast to acquire plastic product division of Solutia Inc. in Europe

Time Technoplast Ltd., India’s leading manufacturer and marketer of polymer products, has signed an agreement to acquire plastic product division of Solutia Inc., in Europe. Solutia is a US-based perfformance materials and specialty chemicals company.

For more details on Time Technoplast to acquire plastic product division of Solutia Inc. in Europe click here

Oil prices end previous week on a weaker note

Oil prices dipped on the last day of the previous week as the slide in oil prices continued. The dip has been persistent amid sell-off in stocks and a strengthening dollar. On the economic front, the US Economic Cycle Research Institute’s index for future economic growth fell to a 3 week low last week.

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European LDPE sellers hopeful of raising prices next month

European low density polyethylene (LDPE) sellers are upbeat of hiking prices nest month as low inventories along the product chain are coupled with expectations of increased demand when buyers return from holidays, are expected to tighten availability, as per ICIS.

For more details on European LDPE sellers hopeful of raising prices next month click here

With 10% global capacity by 2014, Saudi Arabia's petrochemical industry to outperform global rivals

The world's lowest input costs have placed Saudi petrochemicals suppliers in an enviable position and are helping them capture global market share. The shift currently taking place to heavier and moree expensive feedstocks will result in slightly higher input costs but this should not greatly harm the competitiveness of the sector.

For more details on With 10% global capacity by 2014, Saudi Arabia's petrochemical industry to outperform global rivals click here

Draft Discussion Note on Policy for Setting up of Plastic Recycling Units in SEZs

1. At present as per rule 18(4) of the SEZ Rules, the Board of Approvals (BOA) for SEZs does not consider proposals for setting up plastic waste/scrap recycling units within SEZs. For existing uunits also extension of Letter of Approval (LOA) by the Board is decided on a case to case basis by the Board.

For more details on Draft Discussion Note on Policy for Setting up of Plastic Recycling Units in SEZs click here

Europe naphtha cracks rise as front of curve enters backwardation

The spread between August and September naphtha swaps in the over-the-counter-market in Europe has flipped into backwardation as naphtha cracks continue to rebound, as per Platts. The August naphtha ccrack swap was pegged at around minus US$1.

For more details on Europe naphtha cracks rise as front of curve enters backwardation click here

La Seda de Barcelona to halve PET capacity by disposing off non-core plant

Spanish PET producer La Seda de Barcelona SA plans to halve its PET capacity by disposing off non-core polymer and raw material plants in Italy, Portugal, Greece, Turkey and Spain as part of a radicall restructuring plan, as per Plastics & Rubber Weekly.

For more details on La Seda de Barcelona to halve PET capacity by disposing off non-core plant click here

Gradual regular deliveries of butadiene, propylene by Formosa to customers in Kaohsiung

Formosa Petrochemical Corp. has gradually started to resume regular deliveries of butadiene and propylene to its end-user customers in Kaohsiung. Deliveries from Mailiao were delayed earlier this weekk due to road blockages by protesters, as per Platts.

For more details on Gradual regular deliveries of butadiene, propylene by Formosa to customers in Kaohsiung click here

Buying sentiments in Asia’s PET markets dampened by lower crude prices

Despite higher feedstock costs, Asian PET buyers appear reluctant to make fresh purchases, preferring to be sidelined from the market, pointing to crude oil prices that have dipped lost over five dolllars since the beginning of the month, dipping to below US$74/bbl, as per Chemorbis.

For more details on Buying sentiments in Asia’s PET markets dampened by lower crude prices click here

Spot ethylene prices rise in USA as ethane strengthens, market tightens

Spot ethylene values have continued on an uptrend in USA as September prices pushed higher amid rising feedstock and a tight market, as per Platts. Feedstock ethane prices increased, driven by strongeer buy interest and the fact Dow stepped out of the market as a seller following the startup of its LHC 7 olefins unit at Freeport, Texas.

For more details on Spot ethylene prices rise in USA as ethane strengthens, market tightens click here

KPIC, Pertamina ink MOU to conduct feasibility study to triple capacity of Balongan oil refinery

Kuwait Petroleum International Co. and Pertamina have inked a memorandum of understanding to carry out a feasibility study of more than tripling the capacity of the Balongan oil refinery in Java to 4225,000 bpd from 125,000 bpd.

For more details on KPIC, Pertamina ink MOU to conduct feasibility study to triple capacity of Balongan oil refinery click here

India’s September naphtha exports at 850,000 tons to balance markets

Market fundamentals will get balanced as India maintains September naphtha exports at approximately 850,000 tons, amid healthy demand and expected reduced supplies from the Middle East, as per Reuterss.

For more details on India’s September naphtha exports at 850,000 tons to balance markets click here

DuPont in 50:50 JV to produce, market fluoroelastomer gums, pre-compounds with Chinese partner

DuPont and ChemChina will form a 50:50 joint venture to produce and market fluoroelastomer gums and pre-compounds in China, as per Plasticstoday. DuPont will work with the Chenguang Chemical Research Institute, which is a subsidiary of ChemChina (China National Chemical Corp.

For more details on DuPont in 50:50 JV to produce, market fluoroelastomer gums, pre-compounds with Chinese partner click here

Major overhaul underway at Yangtze Petrochemical’s ethylene unit

Yangtze Petrochemical has started a major overhaul of its ethylene unit – the first since 2002. Yangtze Petrochemical has an annual crude oil refining capacity of 9 million metric tons, ethylene produuction capacity of 700,000 metric tons, a 1.

For more details on Major overhaul underway at Yangtze Petrochemical’s ethylene unit click here

US EPA’s action plan to address potential health risk of benzidine dyes, HBCD, NP/NPEs

The US Environmental Protection Agency (EPA) released action plans to address the potential health risks of benzidine dyes, hexabromocyclododecane (HBCD) and nonylphenol (NP)/nonylphenol ethoxylates ((NPEs).

For more details on US EPA’s action plan to address potential health risk of benzidine dyes, HBCD, NP/NPEs click here

New process for mass production of automotive thermoplastic components

Researchers from the Fraunhofer Institute for Chemical Technology ICT in Pfinztal have now found a solution to this problem by developing a new class of materials designed for large-scale use in vehiccle construction: thermoplastic fiber composite materials.

For more details on New process for mass production of automotive thermoplastic components click here

Singapore to create competitive feedstock, produce value-added materials, specialty chemicals

Singapore plans to further improve its position as one of the world's top 10 petrochemical hubs. Singapore plans to meet rising demand for petrochemicals by creating competitive feedstock and producinng more value-added advanced materials and specialty chemicals, as per plats.

For more details on Singapore to create competitive feedstock, produce value-added materials, specialty chemicals click here

August holiday season increases avails of European cargoes in Turkey

Players in Turkey’s polymer markets are reporting increased availability of European origins this month, as an increasing number of buyers in Europe conduct shutdowns at their plants in accordance witth the August holiday season in Europe, as per Chemorbis.

For more details on August holiday season increases avails of European cargoes in Turkey click here

Ethylene steady in Asia and Europe, but fluctuate in USA since the beginning of August

Following a long sustained downturn since the end of April, spot ethylene prices stabilized in H2-July in Asia. As per Chemorbis, the market started to move higher toward end of July, after which pricces have followed a steadily firming trend.

For more details on Ethylene steady in Asia and Europe, but fluctuate in USA since the beginning of August click here

Persistent dip in US propylene inventories continues

Propylene inventories in USA have fallen by approx 9% to 2.566 mln barrels for the week ended August 13, according to Energy Information Administration (EIA). US propylene inventories continued to dwiindle this week as per Platts, as inventories shed 255,000 barrels to close the week, following a drop of 216,000 barrels the week ending August 6.

For more details on Persistent dip in US propylene inventories continues click here

Police officers clash with protesters against Formosa’s naphtha cracker

Protesters against Formosa’s naphtha cracker have clashed with police officers. This has resulted in several arrests as residents of Mailiao and Taihsi blocked roads leading to the plant on Formosa refusal to pay a satisfactory compensation package for a fire on July 25.

For more details on Police officers clash with protesters against Formosa’s naphtha cracker click here

Shaky long term prospects of polyethylene price recovery in Asia

The Chinese economy is slowing down at a time when its domestic production has greatly increased. New capacities in the Middle East, though still plagued by start-up and operating problems, have startted shipments to Asia in much bigger volumes.

For more details on Shaky long term prospects of polyethylene price recovery in Asia click here

RIL’s Nagothane petrochem plant gets clean-chit from Atomic Energy Regulatory Board

Reliance Industries' Petrochem plant at Nagothane has received a clean-chit from Atomic Energy Regulatory Board (AERB) in connection with allegations of harmful radiation emitting from the plant. As pper a letter issued by AERB's Radiological Safety Division, radiation levels in the plant have been brought down to the acceptable limit by use of shielding and cordoning of the area and the propylene and polypropylene plants are also working safely.

For more details on RIL’s Nagothane petrochem plant gets clean-chit from Atomic Energy Regulatory Board click here

Eastman Chemical Co positive of finding a buyer for PET business by end of year

Eastman Chemical Co. is confident of finding a buyer for their US PET business by end of the year. The confidence stems partly from the fact that acquisition of the asset will make the buyer a leader in North American PET business.

For more details on Eastman Chemical Co positive of finding a buyer for PET business by end of year click here

Eastman Chemical Co positive of finding a buyer for PET business by end of year

Eastman Chemical Co. is confident of finding a buyer for their US PET business by end of the year. The confidence stems partly from the fact that acquisition of the asset will make the buyer a leader in North American PET business.

For more details on Eastman Chemical Co positive of finding a buyer for PET business by end of year click here

New Office Bearers elected at OPPI

New office bearers have been elected at OPPI, in the Executive Committee Meeting held on 17th August 2010:
President - Mr. Bhupesh Bafna, Polyset Plastics Pvt. Ltd.
Vice President - Mr. Paresh V. PParekh, National Plastic Industries Ltd.

For more details on New Office Bearers elected at OPPI click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 16, 2010

CRUDE OIL
Crude oil prices have plunged by over 5 dollars in the week of August 16, 2010. Falling for fourth consecutive session, light, sweet crude forr September delivery settled at US$75.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 16, 2010 click here

US crude supplies increased last week, oil prices fall on concerns that fuel demand may be weakening

American Petroleum Institute has reported a sharp rise of 5.87 mln barrels in crude inventories last week, against market expectations for a drop in supplies. Inventories of gasoline and distillates aalso rose.

For more details on US crude supplies increased last week, oil prices fall on concerns that fuel demand may be weakening click here

Dhunseri Petrochem & Tea launches PET project at Haldia

Dhunseri Petrochem & Tea Ltd has announced that the EPC Contract in respect of the expansion of the new PET Project of 2,10,000 tpa at Haldia, has been made effective and zero date of the project has commenced.

For more details on Dhunseri Petrochem & Tea launches PET project at Haldia click here

“Polymer REACH” Project benchmarks awareness of legislation across European Polymer Industry

The “Polymer REACH” project has identified a number of key factors which will provide fundamental help in steering the project going forward, for the benefit of polymer companies across Europe, led byy iSmithers, the information business within Smithers Rapra.

For more details on “Polymer REACH” Project benchmarks awareness of legislation across European Polymer Industry click here

Higher September PVC offers revealed in Asia

Confirming players’ earlier price ideas, new September offers are being announced with increases to China for the week, mainly on good demand from India. As per Chemorbis, a major Taiwanese producer iis seeking US$30/ton increases from August offer levels, while the producer’s new offer levels stand US$40-50/ton above their most recent done concluded for August.

For more details on Higher September PVC offers revealed in Asia click here

Locals throng to Formosa’s Mailiao complex to demand bigger compensation, threaten to blockade off naphtha cracker

Locals thronged to Formosa’s Mailiao petrochemical complex to demand bigger compensation for alleged environmental damage caused by recent fires at the company’s upstream facilities, as per ICIS. Two different fire incidents affected two different units at Mailiao: the company's 700,000 tpa No 1 naphtha cracker was shut on 7 July, operations were disrupted at its 540,000 bpd refinery, along with a number of downstream units on 25 July.

For more details on Locals throng to Formosa’s Mailiao complex to demand bigger compensation, threaten to blockade off naphtha cracker click here

Nanoscientists create patterns using flexible plastic sheets

A team of nanoscientists from Northwestern University is using flexible plastic sheets as the backbone of a new inexpensive way to create, test and mass-produce large-area patterns on the nanoscale. IIt is a simple, low-cost and high-throughput nanopatterning method that can be done in any laboratory.

For more details on Nanoscientists create patterns using flexible plastic sheets click here

Europe’s recyclers to shift reliance on China, turn to India, Middle East, Africa

Current plastics scrap recycling industry in Europe has become “over-reliant” on exports to China. The sector needs to make efforts to address this serious issue, as discussed by BIR Plastics Committeee.

For more details on Europe’s recyclers to shift reliance on China, turn to India, Middle East, Africa click here

LyondellBasell’s 210,000 tpa PP plant at Carrington inactive after unplanned shutdown

LyondellBasell’s 210,000 tpa polypropylene (PP) plant at Carrington, UK continues to be inactive after an unplanned shutdown during the weekend of 7/8 August. As per ICIS, date of restart has not yet been set.

For more details on LyondellBasell’s 210,000 tpa PP plant at Carrington inactive after unplanned shutdown click here

Polypropylene prices move in opposing directions in SE Asia and China

Polypropylene prices are moving in opposing directions in China and Southeast Asia this week, as per Chemorbis. Prices have started to decline in China of falling crude oil prices, even as players in Southeast Asia witnessed further increases in domestic PP prices at the start of this week, due to better demand.

For more details on Polypropylene prices move in opposing directions in SE Asia and China click here

Repair operations at Azerikimya’s EP-130 and plants Polimir-120

SOCAR's Production Associate Azerikimya is carrying out repair operations at its complex. Repair work will be completed before the end of this month.
These operations have been carried out for the fiirst time after commissioning of the complex "EP-130" and plants Polimir-120 in 1987.

For more details on Repair operations at Azerikimya’s EP-130 and plants Polimir-120 click here

Celanese affiliate to ramp up Fortron® PPS production at Wilmington

In a bid to meet the global demand anticipated by the end of Q3, Celanese Corporation’s strategic affiliate, Fortron Industries LLC, will increase production at its 15,000 tpa Wilmington, N.C., plant to meet an increased global demand for Fortron® polyphenylene sulfide (PPS).

For more details on Celanese affiliate to ramp up Fortron® PPS production at Wilmington click here

ABB awarded US$20 mln contract by Saudi Petrochemical Company

ABB, the automation technology group has been awarded US$20 mln contract by Saudi Petrochemical Company to implement a power factor correction and power management solution at its Jubail manufacturingg complex.

For more details on ABB awarded US$20 mln contract by Saudi Petrochemical Company click here

US$1.2 bln loan from National Commercial Bank to finance Saudi Kayan’s Jubail complex

Saudi Kayan Petrochemical has secured a SAR4.5 bln (US$1.2 bln) loan from National Commercial Bank to finance part of the cost of its Jubail petrochemicals complex. The seven-year loan is guaranteed bby Saudi Basic Industries (SABIC), holding 35% stake in Kayan.

For more details on US$1.2 bln loan from National Commercial Bank to finance Saudi Kayan’s Jubail complex click here

Safer plastics that lock in potentially harmful plasticizers

Scientists have published the first report on a new way of preventing potentially harmful plasticizers from migrating from one of the most widely used groups of plastics. The advance could lead to a nnew generation of polyvinyl chloride (PVC) plastics that are safer than those now used in packaging, medical tubing, toys, and other products, they say.

For more details on Safer plastics that lock in potentially harmful plasticizers click here

CCEA approval for PCPIR in Orissa, Paradip

The Cabinet Committee on Economic Affairs (CCEA) has giving the green signal to the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) project in Orissa near Paradip. Orissa has become the fourth state after Andhra Pradesh, Gujarat and West Bengal to have the Centre's nod for the PCPIR.

For more details on CCEA approval for PCPIR in Orissa, Paradip click here

3 week delay in test runs expected at Tianjin Dagu’s first 200,000 tpa ABS project

Test runs of China's Tianjin Dagu’s 200,000 tpa acrylonitrile-butadiene-styrene (ABS) project is expected to be delayed from mid-August to the first half of September, as per Platts. Commercial ABS caargoes from the plant will be delayed and be available only from early October.

For more details on 3 week delay in test runs expected at Tianjin Dagu’s first 200,000 tpa ABS project click here

Bottle-grade PET demand could soften in GCC in Q3-2010

Polyethylene terephthalate (PET) bottle-grade demand in the Gulf Cooperation Council (GCC) region is expected to remain stable-to-soft in Q3-2010 due to abundant inventories and muted consumption as pper ICIS.

For more details on Bottle-grade PET demand could soften in GCC in Q3-2010 click here

P&G to use Braskem’s bio based HDPE for packaging

Procter & Gamble (P&G) will use Braskem’s sugarcane-based high-density polyethylene (HDPE) for packaging Pantene Pro-V, Covergirl and Max Factor brands. Pilot products will be rolled out globally overr the next two years with first commercial products expected on the shelf in 2011.

For more details on P&G to use Braskem’s bio based HDPE for packaging click here

Commercial start up of Sipchem affiliates’ VAM plant in Jubail

Start up of commercial operations has been announced at Saudi International Petrochemical Co.’s (Sipchem) 330,000 tpa Vinyl Acetate Monomer Plant (VAM). The plant belongs to the International Vinyl Accetate Company, one of Sipchem's affiliates, and is located in Jubail Industrial city.

For more details on Commercial start up of Sipchem affiliates’ VAM plant in Jubail click here

Regulators accuse Sasol of polymer price fixing

Sasol Ltd has been accused of price fixing in the polymer market by South Africa’s Competition Commission. As per the Commission, the company “charged excessive prices for polypropylene and propylene to its local customers.

For more details on Regulators accuse Sasol of polymer price fixing click here

A transparent polymer sticker on the face of solar panels increases efficiency by 10%

A polymer sticker comprised of microstructures that bend incoming sunlight has been developed by Genie Lens Technologies. The microstructures were designed by studying the way light rays behave as thee enter the sticker and then the solar panel.

For more details on A transparent polymer sticker on the face of solar panels increases efficiency by 10% click here

40 day maintenance shutdown at 37 refining and petrochemical units at PetroChina’s Daqing facility

All the 37 refining and petrochemical units at PetroChina Co’s Daqing facility will be closed for a 40 day maintenance shutdown from August 17. The refinery has a capacity to process 6 mln tpa of crudde amounting to 120,000 bpd.

For more details on 40 day maintenance shutdown at 37 refining and petrochemical units at PetroChina’s Daqing facility click here

Fluctuations in crude oil prices take polymers on a rollercoaster ride

After hitting close to US$83/barrel in early August, crude oil futures on the Nymex had boosted sentiments in polymer markets particularly in Asia with sellers finding extra support to raise their priices and buying interest picking up, as per Chemorbis.

For more details on Fluctuations in crude oil prices take polymers on a rollercoaster ride click here

Demand from Formosa could absorb surplus naphtha from Middle East, impact prices

Recent demand from Formosa Petrochemical Corp could help absorb surplus naphtha from the Middle East, and could result in an uptrend in naphtha prices. The Asian market was majorly impacted after Formmosa stopped buying due to closure of its 540,000 bpd refinery and 700,000 tpa No 1 cracker in Mailiao following separate outages last month, as per ICIS.

For more details on Demand from Formosa could absorb surplus naphtha from Middle East, impact prices click here

Fewer spot parcels from Middle East on shutdown of both ADNOC condensate splitters in October

The region will see reduced naphtha supplies from the Middle East in October on shutdown of both of Abu Dhabi National Oil Co (ADNOC) ‘s 140,000 bpd condensate splitters. This will result in naphtha pproduction loss from the Middle East and help in easing the recent abundant spot supplies from the Gulf.

For more details on Fewer spot parcels from Middle East on shutdown of both ADNOC condensate splitters in October click here

Falling for fourth consecutive session, crude oil prices plunge by US$5 for the week

Falling for fourth consecutive session, crude oil prices have plunged by five dollars in the week to hover around US$75. Light, sweet crude for September delivery dipped to settle at US$75.3 on the Nyymex, while Brent crude on the ICE futures exchange fell to US$75.

For more details on Falling for fourth consecutive session, crude oil prices plunge by US$5 for the week click here

Asia is the Largest Consumer of PET Followed by Europe

The demand for PET is highest in Asia, with China driving the majority of global demand. As per GBI Research, demand in advanced countries like Japan has largely stabilized. There is a huge consumptioon potential in largely populated countries such as India and China.

For more details on Asia is the Largest Consumer of PET Followed by Europe click here

July ethylene output up by 7.2% y-o-y in Japan

Fewer maintenance shutdowns have pushed up Japanese ethylene production by 7.2% to 593,700 tons in July 2010 vs 553,800 tons in July 2009. This is the first year-on-year rise since March, as per the Ministry of Economy, Trade and Industry.

For more details on July ethylene output up by 7.2% y-o-y in Japan click here

Dow Chemical begins start-up process of its LHC-7 Freeport cracker in Texas

Dow Chemical has begun the start-up process of its 612,000 tpa unit at Texas. The LHC-7 Freeport cracker in Texas was taken off line on 14 July, following an outage at a steam turbine. The restart is likely to pressure ethylene prices in USA.

For more details on Dow Chemical begins start-up process of its LHC-7 Freeport cracker in Texas click here

Saudi Kayan starts 537,000 tpa ethylene glycol line at Jubail Industrial City complex

Saudi Kayan Petrochemical Company has started the 537,000 tpa ethylene glycol line at its new complex at Jubail Industrial City. However, the MEG line is not running at full capacity, test runs are beeing conducted, and it has not yet achieved on-spec material, as per Platts.

For more details on Saudi Kayan starts 537,000 tpa ethylene glycol line at Jubail Industrial City complex click here

Indian government mulls fresh import tariffs targeting Gulf producers

A year after levying tariffs on polypropylene imports from Saudi Arabia and Oman, the Indian government is considering a new round of import tariffs targeting Gulf producers that receive “unfair” subssidies, possibly leading to renewal of the controversy over the Saudi government’s role in its petrochemical industry, as per C Stanton in thenational.

For more details on Indian government mulls fresh import tariffs targeting Gulf producers click here

Braskem sees a fall in profits in Q2-2010

Braskem has witnessed halving of its profits in Q2-2010 due to the positive impact the Brazilian real's appreciation had against the US dollar on last year's results. The Brazilian petrochemical compaany’s Q2-2010 profit fell from R$1.

For more details on Braskem sees a fall in profits in Q2-2010 click here

Gasification unit at coal-to-olefins projects with 1.8 mln ton methanol capacity starts up in China

The gasification unit has been started up at the China Shenhua Coal to Liquid and Chemical Co. Ltd.’s project in Baotou, Inner Mongolia with advanced coal gasification technology provided by GE. Full production is scheduled for Q4-2010.

For more details on Gasification unit at coal-to-olefins projects with 1.8 mln ton methanol capacity starts up in China click here

Crude oil rebounds after dipping by over three dollars

Light, sweet crude futures for delivery in September traded at US$76.7 on the NYmex, rising by a dollar. September Brent crude on London's ICE Futures exchange climbed up to US$76.3. Crude oil futuress have rebounded in Asia, after a huge overnight fall that pulled down prices by over three dollars.

For more details on Crude oil rebounds after dipping by over three dollars click here

Borealis announces Q2-2010 net profit of €92 million

Borealis has announced a net profit of €92 mln for Q2-2010, a further improvement compared to €54 mln in Q1-2010, as well as when compared to Q2-2009. Net profit was reported at €146 mln year to date;; vs €35 mln during the same period in 2009.

For more details on Borealis announces Q2-2010 net profit of €92 million click here

Sinopec inks deal with Hebi municipal government to develop a methanol-to-olefins project

Sinopec and the Hebi municipal government have inked an agreement to jointly develop a 1.8 mln tpa methanol-to-olefins project. Investment outlay in the first phase of the project will total CNY17 billlion (US$2.

For more details on Sinopec inks deal with Hebi municipal government to develop a methanol-to-olefins project click here

Crude oil rebounds after dipping by over three dollars

Light, sweet crude futures for delivery in September traded at US$76.7 on the NYmex, rising by a dollar. September Brent crude on London's ICE Futures exchange climbed up to US$76.3. Crude oil futuress have rebounded in Asia, after a huge overnight fall that pulled down prices by over three dollars.

For more details on Crude oil rebounds after dipping by over three dollars click here

Borealis announces Q2-2010 net profit of €92 million

Borealis has announced a net profit of €92 mln for Q2-2010, a further improvement compared to €54 mln in Q1-2010, as well as when compared to Q2-2009. Net profit was reported at €146 mln year to date;; vs €35 mln during the same period in 2009.

For more details on Borealis announces Q2-2010 net profit of €92 million click here

Sentiment swings in China’s domestic PP, PE markets

Domestic PP and PE prices have recorded significant increases over the past few weeks, in China driven by higher crude oil costs and expectations of better demand in line with the high season for agriicultural film, as per Chemorbis.

For more details on Sentiment swings in China’s domestic PP, PE markets click here

China to impose antidumping duty on PTA from South Korea and Thailand for 5 years

China is to impose an antidumping duty of up to 20.1% on terephthalic acid (PTA) from South Korea and Thailand Thursday for five years, after finding the domestic industry had suffered 'substantial daamage'.

For more details on China to impose antidumping duty on PTA from South Korea and Thailand for 5 years click here

Supreme Petrochem declares FM on polystyrene exports, disruption caused by Mumbai Port closure

India’s number one polystyrene maker-Supreme Petrochem, has declared force majeure for its exports after Mumbai port was closed due to collision of two ships. As per Platts, up to 100 containers of poolystyrene targeted for export markets remain stranded at the port.

For more details on Supreme Petrochem declares FM on polystyrene exports, disruption caused by Mumbai Port closure click here

SIBUR subsidiary’s 300,000 tpa ethylene unit modernized by Sulzer

Tomskneftekhim, part of the SIBUR-holding group’s 300,000 tpa ethylene unit has been modernized with Sulzer internal components. The modernization has helped improve rectification indicators at the pllant, and quality of ethylene produced by 20%.

For more details on SIBUR subsidiary’s 300,000 tpa ethylene unit modernized by Sulzer click here

Total output value of China's petrochemical industry for H1-2010 up 41.1% from 2009

The total output of China’s petrochemical industry has been valued at 4.11 trillion yuan (US$607 bln) for H1-2010. This is a 41.1% rise from a year ago levels- a new record high, according to China Peetroleum and Chemical Industry Association (CPCIA).

For more details on Total output value of China's petrochemical industry for H1-2010 up 41.1% from 2009 click here

Technology breakthrough to increase Dow’s polyolefin elastomers capacity at Freeport and Tarragona

Dow Chemical Co. announced Tuesday a technology breakthrough project that will increase polyolefin elastomers manufacturing capacity at its production facilities in Freeport, Texas, (USA) and Tarragonna, Spain.

For more details on Technology breakthrough to increase Dow’s polyolefin elastomers capacity at Freeport and Tarragona click here

Shut port compels BPCL to reschedule tender to sell 30,000 tons naphtha for early September loading from Mumbai

BPCL has rescheduled a tender to sell 30,000 tons of low aromatic naphtha for loading from September 5 to 9 from Mumbai, as the port is shut following a collision between two cargo ships. The collisioon has prevented vessels from coming into the Mumbai port.

For more details on Shut port compels BPCL to reschedule tender to sell 30,000 tons naphtha for early September loading from Mumbai click here

Polypropylene market to remain tight through H1 Sep in USA

Driven by strong demand and inventory management, polypropylene markets in USA are faced with tight supplies. The market is expected to remain so through the first half of September and possibly longeer, as per Platts.

For more details on Polypropylene market to remain tight through H1 Sep in USA click here

September PVC markets looking firm in Asia

In Asia, most overseas producers have concluded PVC business for August, followed by few announcements of September sell ideas at higher levels. As per Chemorbis, demand is reportedly good in the regiion, especially in India, reducing overall import supplies spared for China.

For more details on September PVC markets looking firm in Asia click here

India imposes preliminary anti-dumping duty on imported PVC flex film from China

The Revenue Department in the Ministry of Finance has notified the imposition of preliminary anti-dumping duty on imported PVC flex film from China, following a recommendation of the Designation Authoority in the Commerce Ministry on June 22.

For more details on India imposes preliminary anti-dumping duty on imported PVC flex film from China click here

Representatives of Mailiao Township residents, reject compensation proposal, cut off talks with Formosa

After rejecting a compensation proposal, representatives of the residents of Mailiao Township have suspended talks with the Formosa Plastics Group (FPG). The representatives warned FPG that protests oover pollution caused by two fires in the month, will continue.

For more details on Representatives of Mailiao Township residents, reject compensation proposal, cut off talks with Formosa click here

PetroRabigh plans polyol processing plant to supply propylene oxide to two Saudi companies

In its capacity as the only producer of propylene oxide in the Gulf region and the Middle East with a production capability of 200,000 tpa, Rabigh Refining and Petrochemical Company (Petro Rabigh) siggned an agreement with two joint companies: Saudi Advanced Industries Company (SAIC) and the National Industries Company (TASNEE) whereby Petro Rabigh is to provide propylene oxide for the two joint companies.

For more details on PetroRabigh plans polyol processing plant to supply propylene oxide to two Saudi companies click here

Global demand for cast polymers to increase by 8.7% pa through 2014

Global demand for cast polymers is forecast to increase at an annual rate of 8.7% through 2014, driven mainly by thriving construction markets in developing countries, as per Freedonia Group. Annual ccast polymers demand was projected to reach 256 mln sq mts by 2014, with more than 180 mln sq mts (70%) in Asia Pacific markets.

For more details on Global demand for cast polymers to increase by 8.7% pa through 2014 click here

Bullish factors hold PP markets in Asia, Turkey, firm in August

Asian PP markets have seen a continuous rise since the beginning of the month, encouraging sellers to raise their prices to Turkey starting from last week, as per Chemorbis. The combination of higher costs, better demand and lower supplies is the main reason behind the upsurge of these markets.

For more details on Bullish factors hold PP markets in Asia, Turkey, firm in August click here

Qatar mulls termination of US$6 bln project with Exxon Mobil

In January, Qatar had inked an agreement with Exxon Mobil Corp. to jointly build a US$6 bln petrochemicals complex. However, the Qatari major has ideas to change its partner and is mulling a switch frrom ExxonMobil to the company that makes the best proposal.

For more details on Qatar mulls termination of US$6 bln project with Exxon Mobil click here

Lummus awarded the contract to build world’s largest propylene plant at Tianjin

Lummus has been awarded a contract by Tianjin Bohua Petrochemical to build a new propylene plant at Tianjin. The propane dehydrogenation plant will have a capacity of 600,000 tpa, and will have the diistinction of being China’s first.

For more details on Lummus awarded the contract to build world’s largest propylene plant at Tianjin click here

No naphtha imports to Asia makers likely from Europe for second month

Amid ample supplies and weak demand in Japan, Asian petrochemical companies may import little or no naphtha from Europe for the second month in August, as per Bloomberg. Europe to Asia naphtha cargoess totaled 300,000 tons in June and 500,000 tons in May as Asian demand growth slows considerably amid new refining capacity in China and ethane-based petrochemical capacity in the Middle East.

For more details on No naphtha imports to Asia makers likely from Europe for second month click here

Crude hovers around US$81 in Asia

Crude oil continues to linger at three month highs, around US$81 in Asian trading, boosted by progress in most Asian stock markets and a weaker dollar and weaker euro. Crude for September delivery rosse to US$81.

For more details on Crude hovers around US$81 in Asia click here

Prevention of costly downtime from power outages at petrochemical plants

Unplanned downtime at petrochemical plants due to electric power failure is more common and costly than the total of fires, floods, earthquakes, network outages, service failures, and hardware problemms combined.

For more details on Prevention of costly downtime from power outages at petrochemical plants click here

Tosoh Corp to halt sole naphtha cracker at Yokkaichi

Japan's Tosoh Corp plans to bring to a halt, its sole naphtha cracker at the Yokkaichi plant as per Reuters. The shutdown is mandatory to conduct checks at the plant after identifying minor trouble wiith the unit.

For more details on Tosoh Corp to halt sole naphtha cracker at Yokkaichi click here

Petro Rabigh plans to restart polypropylene plant

Rabigh Refining and Petrochemical Co (Petro Rabigh) plans to restart its polypropylene (PP) plant by end of week along with its fluid catalytic cracker (FCC), as per ICIS. Earlier this week, an outagee at its fluid catalytic cracker (FCC) created shortage of propylene that feeds Petro Rabigh’s 700,000 tpa PP plant.

For more details on Petro Rabigh plans to restart polypropylene plant click here

BASF shelves plans of JV with Astra Polymer in Saudi Arabia

BASF SE and Astra Polymer Compounding Co., Ltd. based in Saudi Arabia, have agreed to cancel plans for a joint venture for production of customer-specific antioxidant mixtures (CSB) in the Middle Eastt.

For more details on BASF shelves plans of JV with Astra Polymer in Saudi Arabia click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 9, 2010

CRUDE OIL
Crude oil prices have risen past US$80 in Asia in the week of August 9, 2010. In the first half of the week, oil rose to US$81.8 in New York amiid optimistic sentiments, a weakening dollar and hurricane concerns in the US Gulf of Mexico.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 9, 2010 click here

Global butylenes markets faced with issues of availability and quality of the crude C4 from ethylene crackers

Global butylenes markets are very complex and interrelated. In most cases, butylene supply is determined by process economics further up the value chain without significant influence from actual channges in butylene demand, as per Chemical Market Associates, Inc.

For more details on Global butylenes markets faced with issues of availability and quality of the crude C4 from ethylene crackers click here

Qatar Petroleum part of JV project to construct ethane cracker in Arzew, Algeria

Qatar Petroleum (QP), with 10% stake, has become part of the partnership between France’s Total and Algeria’s Sonatrach joint venture project to construct an ethane cracker in Arzew, western Algeria. Sonatrach awarded a contract to Total to construct the ethane cracker where Total had a controlling 51% stake and Algeria’s Sonatrach 49%.

For more details on Qatar Petroleum part of JV project to construct ethane cracker in Arzew, Algeria click here

Sensor film reveals flash to reduce defects in plastics molding

Staying abreast of technology and exhibiting discipline in production operations are key to keeping molding plants and services internationally competitive, according to plastics consultant John Bozzeelli, of Scientific Molding.

For more details on Sensor film reveals flash to reduce defects in plastics molding click here

Higher freight rates from Middle East to Europe to add pressure on Asian polyolefins

Usually around 30% of Middle East polyolefins move to Europe from the Middle East. Higher freight rates from Middle East to Europe is adding pressure to Asia’s polyolefin industry while leading to tigghtness in European polyolefin markets, as per ICIS.

For more details on Higher freight rates from Middle East to Europe to add pressure on Asian polyolefins click here

Vietnam gets increasingly attractive as an investment destination for petrochemical projects

As costs mount in China; location, low costs and a booming economy are transforming Vietnam into an attractive place for a growing number of petrochemical projects, as per ICIS. Success in conversionn from paper to reality will depend on the outlook for its domestic market, the quality of its infrastructure, the skills of its workforce, and the willingness and ability of the government to liberalize the economy.

For more details on Vietnam gets increasingly attractive as an investment destination for petrochemical projects click here

Specialty compounded polypropylene resin as alternative to Long Glass Filled PP

A new polypropylene technology: Thermylene® P8 specialty compounded polypropylene resin has been launched by Asahi Kasei Plastics North America Inc. This is a material innovation that gives customers superior creep resistance at room temperature and comparable creep resistance at elevated temperatures when compared to long glass filled PP.

For more details on Specialty compounded polypropylene resin as alternative to Long Glass Filled PP click here

Huge demand for biodegradable materials to grow in China

At present, demand for biodegradable materials is huge both in China as well as globally. The quantity needed in China’s packing and catering industry alone totals more than 3 mln tons. The internatioonal market demands even more, with a 30-50% y-o-y increase.

For more details on Huge demand for biodegradable materials to grow in China click here

Ethylene ascends in August, fails to draw near propylene

In Asia, spot ethylene prices have risen by US$50/ton over the past two weeks led by both higher crude oil prices plus unexpected outages at regional crackers, as per Chemorbis. However, spot propylenne has moved up twice as fast, rising US$110/ton over the two week period.

For more details on Ethylene ascends in August, fails to draw near propylene click here

Growing awareness, increased investments present endless opportunities in performance plastics sector

Frost & Sullivan presented an Executive MindXchange titled ‘Performance Plastic Summit 2010 – Trends and Advances in Performance Plastics’ at The Westin Mumbai Garden City, Mumbai. This MindXchange suuccessfully created a platform for end users to gain an understanding on key issues, new developments and processing requirements in the Specialty Plastic Industry.

For more details on Growing awareness, increased investments present endless opportunities in performance plastics sector click here

China’s mould & die industry impacted by the economic meltdown

Since 2000, China's mould & die industry has grown by 15% annually on average, with its total output value ranking in the world's third place. The 2009 economic meltdown exerted a negative influence oon China's mould industry: the annual output was no more than 9.

For more details on China’s mould & die industry impacted by the economic meltdown click here

Buying resumes: arrests two month fall in PE, PP from the Middle East

Polyolefin prices have nudged up as buying interest for polypropylene (PP) and polyethylene (PE) has gathered momentum in the Middle East market this week. As per ICIS, the trend is in line with upbeaat sentiment in the Asian market as crude hovered above US$80, fuelling expectations that Middle East prices would continue to rise through September.

For more details on Buying resumes: arrests two month fall in PE, PP from the Middle East click here

Crude oil dips to one-week lows on weak jobs data

The US economy lost jobs for a second consecutive month in July, adding to worries that economic recovery will continue to struggle, leaving demand outlook for commodities uncertain. Crude oil futuress fell for a third consecutive day- light, sweet crude for September delivery fell to US$80.

For more details on Crude oil dips to one-week lows on weak jobs data click here

Imports in China decline for third consecutive month in June

According to statistics from Chinese Customs, polymer imports declined for the third consecutive month in June after spiking to a new record high in March, as per Chemorbis. Players attributed the redduction in imports to slackening economic growth in the country, resulting in weaker demand for polymers, as well as start-up of large new capacities in China that has led to sourcing of a greater share from the local market.

For more details on Imports in China decline for third consecutive month in June click here

Feedstock ethylene shortage extends restart of Nan Ya’s MEG unit

Nan Ya’s No. 3 unit, which was idled on June 30 for a three-week maintenance, has been forced to stay shut. Taiwan's Nan Ya Plastics has been unable to restart its 350,000 tpa No. 3 monoethylene glycool (MEG) unit at Mailiao this week due to a continued shortage of ethylene feedstock, as per Platts.

For more details on Feedstock ethylene shortage extends restart of Nan Ya’s MEG unit click here

Crude oil prices gain as equity markets progress in Asia

Crude for September delivery rose to US$82.4 on the New York Mercantile Exchange, while Brent crude for September settlement settled at US$81.9. Crude oil prices have increased, as rising equities andd a weak dollar prompted traders to buy back previously sold contracts.

For more details on Crude oil prices gain as equity markets progress in Asia click here

Technical issues to keep Ras Laffan ethane cracker at reduced run rates until next year

Industries Qatar plans to run its 1.3 mln tpa ethane cracker in Ras Laffan at a reduced capacity until next year because of “technical issues”. The Ras Laffan Olefins Co’s cracker, which began operatting in Q2-2010, will reach full capacity by the middle of 2011.

For more details on Technical issues to keep Ras Laffan ethane cracker at reduced run rates until next year click here

A thin Mylar-based sensor film significantly reduces warped, rejected composite parts

Pressurex®, a thin Mylar-based sensor film that maps and measures the amount of interfacial stress exerted on honeycomb cores, composite lay-ups and bonded surfaces within composite structures has beeen introduced by Sensor Products Inc.

For more details on A thin Mylar-based sensor film significantly reduces warped, rejected composite parts click here

Chevron reports leak in process unit at Cedar Bayou chemical plant

The alarms sounded at Chevron Phillips Chemical Co.’s Cedar Bayou chemical plant in Baytown, Texas, after a “small” leak was detected in a process unit, as per Bloomberg. The leak has been brought undder control and has had no impact to the community.

For more details on Chevron reports leak in process unit at Cedar Bayou chemical plant click here

Surge in prices, naphtha cracks could be transitory on abundant supplies

Naphtha prices have surged to ten week highs and cracks have spiked to their highest in about a week on demand from Taiwan and South Korea. However the demand could be short-lived due to ample suppliees in the region, as per Reuters.

For more details on Surge in prices, naphtha cracks could be transitory on abundant supplies click here

LLDPE prices rise in Asia on supply concerns, improving demand

Asian PE markets have posted considerable increases over the past two weeks on the strength of stronger upstream costs and improved buying interest, as per Chemorbis. Crude oil prices have gained oveer US$5/barrel over the past week to cross the US$82 threshold, while spot ethylene prices have posted week on week gains of US$45-60/ton.

For more details on LLDPE prices rise in Asia on supply concerns, improving demand click here

Saudi Aramco, Dow confirm Jubail as site for proposed JV petrochemical project

Saudi Aramco and Dow Chemical Co have confirmed Jubail Industrial City as the planned site location for their proposed joint venture petrochemical project. The decision followed an in-depth evaluationn anticipated infrastructure benefits and various potential business integration opportunities at the location – the largest industrial complex of its kind in the world.

For more details on Saudi Aramco, Dow confirm Jubail as site for proposed JV petrochemical project click here

IDCO appointed nodal agency for Paradip PCPIR planned with outlay of Rs 274134 Cr

IDCO has been appointed as the nodal agency of the Paradip PCPIR, planned over 284 sq km in Jagatsinghpur and Kendrapara district with an estimated investment of Rs 274134 Cr. The land acquisition proocess is being executed by IDCO.

For more details on IDCO appointed nodal agency for Paradip PCPIR planned with outlay of Rs 274134 Cr click here

Taiwan's scheme to boost investment, attract foreign investors, challenged by environmental campaigners and locals

Taiwan launched a campaign last month to attract international investment of NT$317 billion to 10 key industries, including high-tech industries, pharmaceuticals and green energy. Taiwan's scheme to bboost investment and attract foreign investors is being challenged by environmental campaigners and locals in a series of disputes over major projects.

For more details on Taiwan's scheme to boost investment, attract foreign investors, challenged by environmental campaigners and locals click here

Global demand for Ethylene Oxide to grow to 32.43 mln tons by 2020

The global ethylene oxide (EO) market has been growing at a CAGR of 4.4% from the year 2000 to 2009. It is forecast to grow at a CAGR of 4.5% from the year 2009 to 2020, as per a report by GBI Researcch.

For more details on Global demand for Ethylene Oxide to grow to 32.43 mln tons by 2020 click here

Developments that will influence flame retardancy and flame retardant plastics industry

A unique business conference and exhibition is being held for all companies involved in flame retardancy and flame retardant plastics to learn about the latest developments that will influence the inddustry.

For more details on Developments that will influence flame retardancy and flame retardant plastics industry click here

C3 peaks to two month high in Asia on tight supplies

This week has seen propylene (C3) spot prices in Asia touching two-month highs as supply tightness persists. Supply is squeezed in the region due to disruption caused by outages in July at Formosa Peetrochemical Corp’s facilities in Mailiao.

For more details on C3 peaks to two month high in Asia on tight supplies click here

Sipchem inks agreements with Rhodia to build a new ethyl acetate plant

Saudi International Petrochemical Co. (Sipchem) has signed agreements with France’s Rhodia Co. to build a new ethyl acetate plant. As part of its Phase 3 Expansion Program, Sipchem is to construct andd operate a 100,000 tpa ethyl acetate plant in Jubail Industrial City, to be commissioned in 2013.

For more details on Sipchem inks agreements with Rhodia to build a new ethyl acetate plant click here

Rise in Asia’s naphtha temporary as oversupply prevails

Naphtha is Asia’s spot markets is being dealt at premiums ranging from US$2 to US$/6. Though Asia’s spot naphtha market has strengthened, any rise is temporary as a situation of oversupply continues iin the region.

For more details on Rise in Asia’s naphtha temporary as oversupply prevails click here

Demand and market outlook affected by Ramadan, summer holidays in August

The month of August is a traditionally low season due to the summer holidays particularly in South Europe, where Italian buyers have already started to shut their plants, as per Chemorbis. Europe's suummer holidays have coincided with Ramadan this year.

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Shell's 800,000 tpa ethylene cracker in Singapore resumes operations

Royal Dutch Shell's new 800,000 tpa ethylene cracker in Singapore has resumed operations, after a brief disruption caused by a compressor trip, as per Reuters. It remains unclear if the plant, which fflared on Tuesday, was partially or completely shut, but it resumed operations around late on Wednesday.

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Electricity rationing in East and Central China restrains petrochem operations

Provinces in East and Central China are faced with electricity rationing resulting in operation cutbacks at processors and reduced demand for petrochemicals, as per Platts. As per a statement relleased by the National Development and Reform Commission, China has set a new record in electricity usage in H2-July, with electricity usage hitting an all time high of 13.

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Latest green formulations for surfactants personal care and home care markets

Leading regional industry players will gather at the conference to address pertinent issues influencing the surfactants industry, the latest trend in Asia personal care and homecare industry and the ppotential for surfactant and other raw material suppliers.

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Demand from Taiwan props naphtha cracks in Asia

Unexpected demand from Taiwan’s Formosa has had a positive impact on naphtha in Asia. Formosa is Asia's top spot naphtha buyer, and has emerged with a tender seeking volumes for H1-September. This hass triggered Asia's naphtha to extend gains to reach around a 6-½ week high, with physical cracks rebounding from a five session low to settle at their highest in two sessions, as per Reuters.

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Operating issues emerge at polyolefin plants in Asia

Operating issues are emerging at polyolefin plants in Asia, amid recovering polyolefin markets, as per ICIS.
ExxonMobil’s 600,000 tpa polyethylene (PE) plant in Singapore has been shut for two weekss due to undisclosed problems.

For more details on Operating issues emerge at polyolefin plants in Asia click here

Shell flares gases at Pulau Bukom on disruption of production at a process unit in Singapore

Royal Dutch Shell's new 800,000 tpa ethylene cracker resumed operations after a brief disruption caused by a compressor trip.Production was disrupted at Shell’s process unit at Singapore. As a result,, the flare system at Shell’s Pulau Bukom manufacturing site was activated in the afternoon of Aug.

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Oil prices hover around US$82

New York's main contract, light sweet crude for delivery in September is up at US$81.8, while Brent North Sea crude for September is at US$81.5. Oil prices are hovering around US$82 amid optimistic seentiment, a weakening dollar hurricane concerns in the US Gulf of Mexico.

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Technology breakthrough project to expand Dow’s polyolefin elastomer capacity

Dow Chemical Company has announced a technology breakthrough project that will increase polyolefin elastomers manufacturing capacity at its production facilities in Freeport, Texas, and Tarragona, Spaain.

For more details on Technology breakthrough project to expand Dow’s polyolefin elastomer capacity click here

Gulf naphtha producers struggling with surpluses

Several Gulf naphtha producers are struggling with surpluses.
Abu Dhabi National Oil Co (ADNOC) plans to sell around 1 mln tons of naphtha for October 2010-September 2011 delivery. Traditionally, thee Gulf company has three yearly contracts: January-December, April-March and July-June.

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Middle East ethylene availability possible in Europe with INEOS terminal

The INEOS Group is the largest consumer of ethylene in Europe. INEOS Oxide has confirmed plans to build and operate a new 1 mln ton, deep-sea Ethylene Terminal, to be constructed at its Zwijndrecht Faacility, Belgium.

For more details on Middle East ethylene availability possible in Europe with INEOS terminal click here

PP prices revealed higher this month to China, market reverses in Turkey

Spot propylene market in Asia has been on a bullish trend, with prices spiking by US$60/ton since the beginning of last week after showing a weak performance during most of July, as per Chemorbis. Thee recent recovery in spot propylene prices was mainly due to growing supply concerns as a result of the recent shutdowns caused by consecutive fires which broke out at Formosa’s refinery and petrochemical complex in Mailiao, Taiwan.

For more details on PP prices revealed higher this month to China, market reverses in Turkey click here

Dow’s Q2 profit lags behind estimates

Q2 profits posted by Dow is lagging behind analysts’ estimates due to reduced demand for crop-chemicals affected by adverse weather, and unexpected shutdowns of polymer plants in Texas and Argentina. Net income was US$651 mln compared with a net loss of US$344 mln a year ago.

For more details on Dow’s Q2 profit lags behind estimates click here

ADNOC to shorten term naphtha delivery period from 12 months to 3 months

Abu Dhabi National Oil Co (ADNOC) plans to shorten its term naphtha delivery period to three from 12 months starting October. It has pegged its splitter naphtha premium at US$11.50/ton to its own formmula on a free-on-board (FOB) basis, and the paraffinic grade at US$12.

For more details on ADNOC to shorten term naphtha delivery period from 12 months to 3 months click here

Crude oil prices strengthen past US$80 despite disappointing economic data from US

Light, sweet crude for September delivery rose by over one dollar to US$82.5 on the Nymex, while Brent crude on the ICE futures exchange rose to US$82.6. Despite disappointing U.S. economic data, crudde oil futures have strengthened, rising above US$82 a barrel – its highest settlement since May.

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Russian, Turkish cooperation with Iran to develop upstream units of its petrochemical projects

Russian and Turkish companies plan to cooperate with Iran to develop upstream units of its petrochemical projects.
SIBUR officials are eager to cooperate with Iran in upstream sector of petrochemicaal projects.

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PIC to invest US$10 bln in 4 years to expand domestic and overseas operations

Kuwait’s Petrochemical Industries Co. (PIC) plans to invest US$10 bln over the next four years in domestic and overseas projects in a bid to expand operations. Construction of its’ third mixed-feed ollefins facility with 1.

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Demand of plastic injection molding machine in China grew steadily in 2009

Plastic injection molding machine (also known as injection molding machine or injection machine) is a type of equipment accounting for the largest share in the total output of plastic processing machiinery at 40% in China and 50-80% in Germany, Japan and USA as per researchandmarkets.

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Wind farms emerging inland and offshore, larger turbines drive windmill blade demand

As wind farms spring up inland and offshore and turbines get larger, so demand is increasing on windmill blade manufacturers. This will be discussed at the new AMI global conference on Wind Turbine Bllade Manufacture, which takes place 7-9 December 2010 in Düsseldorf.

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Gail reports increase in net profit for Q1 as sales increase

Gail India Ltd has reported an increase in its net profit for the Q1 on increased sales driven mainly by higher volume of natural gas transmission, higher production of LPG and liquid hydrocarbons andd increase in price of APM gas and polymers.

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Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 2, 2010

CRUDE OIL
Crude oil prices witnessed a marginal rise in Asia to end the week of August 2, 2010 a tad higher at US$79. Oil ended the week on a higher note after the latest gauge of China's manufacturing sector soothed market concerns that Beijing had acted too aggressively in slowing the economy down.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended August 2, 2010 click here

PVC sellers in Asia report higher sale prices, better demand for August

PVC prices continued to firm up over the past week in Asia, with major regional producers claiming to have concluded their August business with increases from July at levels similar to their initial ooffers, as per Chemorbis.

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Chock-full storage tanks may compel Formosa to defer imports of naphtha, sour crude

Formosa Petrochemical Corp. wants to defer some imports of naphtha and sour crude as its storage tanks are full after two accidents at its Mailiao crackers in July. Formosa’s 540,000 bpd Mailiao plantt has been shut for safety reasons after an oil leak triggered a blaze at its No.

For more details on Chock-full storage tanks may compel Formosa to defer imports of naphtha, sour crude click here

As demand from power-plants grows for natural gas, Gulf petrochemical makers turn to naphtha as feedstock

Gulf petrochemical producers in the Middle East have traditionally preferred cheaper home-produced natural gas. They are beginning to make the switch to naphtha as a feedstock amid growing power-plantt demand for natural gas, as per Bloomberg.

For more details on As demand from power-plants grows for natural gas, Gulf petrochemical makers turn to naphtha as feedstock click here

Polymer output from BPCL’s upcoming plant to be marketed by GAIL

GAIL has inked an agreement with Brahmaputra Cracker and Polymer Limited (BPCL) to market all the petrochemical products from it's upcoming natural gas and naphtha cracker complex, as per Platts. GAILL owns a 70% stake in BCPL, whose cracker at Lepetkata in Assam state is expected to be ready toward the end of 2012.

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Maintenance of Formosa’s No 2 cracker delayed to October

Taiwan's Formosa Petrochemicals Corp plans to delay maintenance of its No 1.03 mln tpa No 2 cracker from Aug. 20 to an undecided date, probably in October, to ensure steady production, as per Reuters..

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Ineos Group in binding agreement for sale of its Global Films business to Bilcare AG

Ineos Group has entered into a binding agreement for the sale of its Global Films business to Bilcare AG, one of the world's leading providers of research led packaging to the global pharmaceuticals iindustry, for approximately €100 million.

For more details on Ineos Group in binding agreement for sale of its Global Films business to Bilcare AG click here

Mega overseas proposed petrochem JV between GAIL and RIL takes a back seat

GAIL India’s plan to set up a mega gas-based petrochemical overseas plant in joint venture with Reliance Industries (RIL) has taken a back seat as the state-run gas major has decided to double capacitty at its Pata petrochemical plant to 900,000 tpa with an investment outlay of Rs 8,200 crore.

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PET market sees a late summer comeback globally

Like many other polymers, China is helping to stabilize the PET market late summer as players respond to the recent crude oil prices and production outages at various cracker complexes and refineries in the region, as per Chemorbis.

For more details on PET market sees a late summer comeback globally click here

Premier’s visit results in suspension of operations at Formos’a sixth naphtha cracker in Yunlin

Taiwanese Premier, after visiting the plant, has ordered suspension of operations of the Formosa Plastics Group's sixth naphtha cracker in Yunlin County, four days after a fire occurred on July 25-26..

For more details on Premier’s visit results in suspension of operations at Formos’a sixth naphtha cracker in Yunlin click here

Total's chemicals business sees a four fold rise in Q2 adjusted net operating profit

Europe’s third-biggest oil company Total SA, has reported a 72% increase in Q2 profit after projects started last year were ramped up and on significant improvements across all of its businesses. It’ss chemicals business has grown four times in Q2 adjusted net operating profit to €274 mln.

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Dollar weakens, confidence strengthens in eurozone, oil prices jump

Towards the end of last week, oil prices have recovered amid a weaker dollar and positive data from Europe. New York's main contract, light sweet crude for delivery in September, mounted by over a dolllar to US$78.

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Huntsman to acquire Indian chemicals business

Huntsman Corp. has agreed to acquire the chemicals business of Indian ethylene oxide derivative maker Laffans Petrochemicals Ltd. Financial terms of the agreement were not disclosed. The company expeccts to close on the deal in 2011.

For more details on Huntsman to acquire Indian chemicals business click here

August ethylene contracts expected to rollover from July in Brazil

Ethylene contract prices for the month of August are expected to rollover from July levels in Brazil. July ethylene price for Brazil’s domestic market has been heard at US$1215/MT FOB as per Platts. Fluctuation in exchange rate between the dollar and reals resulted in a €12/MT rise in July.

For more details on August ethylene contracts expected to rollover from July in Brazil click here

Reduced run rates push propylene prices higher in Asia

Spot propylene prices in Asia have risen considerably this week, with prices finding support from reduced operating rates at several propylene facilities in the region along with firmer equity marketss and better downstream buying interest, as per Chemorbis.

For more details on Reduced run rates push propylene prices higher in Asia click here

Bayer reports solid Q2 revenues, Q2 sales rise 5.8%

Bayers’ revenues have mounted by 14.6% to €9.18 bl, largely due to growth in its consumer health and high-tech materials divisions. Net income has dropped to €525 mln, down from €532 mln a year earlieer.

For more details on Bayer reports solid Q2 revenues, Q2 sales rise 5.8% click here

Green metal-to-plastic conversion with innovative plastics helps diverse industries

To accelerate the trend toward replacing metals with high-performance, durable and versatile thermoplastic compounds, SABIC Innovative Plastics has collaborated with Swiss software maker KISSsoft AG. KISSsoft is now applying gear sizing calculations for 17 grades of SABIC Innovative Plastics’ LNP* specialty compounds, including high-temperature, internally lubricated and fiber-reinforced grades.

For more details on Green metal-to-plastic conversion with innovative plastics helps diverse industries click here

Chemaweyaat plans to move 12 planned JV petrochem complexes to the Western Region

Abu Dhabi National Chemicals Co (Chemaweyaat) has dumped plans to develop units at Khalifa Port and Industrial Zone (KPIZ). The company will now relocate all of its 12 planned JV petrochemicals compleexes to the emirate's Western Region adjacent to Ruwais.

For more details on Chemaweyaat plans to move 12 planned JV petrochem complexes to the Western Region click here