Equate Petrochemicals launches first green carbon project

Equate Petrochemicals Co. has launched the Gulf state's first green carbon project which will use over 150,000 tpa of carbon dioxide (CO2). Under the scheme, Equate will capture CO2 emissions which wiill then be carried by a pipeline and injected into a special plant under construction.

For more details on Equate Petrochemicals launches first green carbon project click here

Oil prices fall as dollar strengthens on deepening concern over eurozone debt crisis

New York's main contract, light sweet crude for January, fell to US$83 while Brent North Sea crude for delivery in January settled at US$85.17 in London trade. The last day of the previous week saw oiil prices fall as the dollar strengthened vs the euro on deepening concern over the eurozone debt crisis.

For more details on Oil prices fall as dollar strengthens on deepening concern over eurozone debt crisis click here

In a bid to increase diesel output, Sinopec shuts PE/PP lines, reduces MEG production

In a bid to boost diesel production to ease the shortage in the country, China's state-owned Sinopec has been compelled to reduce production rates at downstream polyethylene, polypropylene and monoethhylene glycol plants as per Platts.

For more details on In a bid to increase diesel output, Sinopec shuts PE/PP lines, reduces MEG production click here

BASF SE management and employee reps sign new agreement for Ludwigshafen site

BASF SE management and employee representatives have signed a new site agreement for the company's Ludwigshafen site. "Safeguarding the future through flexibility and operational partnership," is the new agreement that applies to approximately 33,000 BASF SE employees at the site for the period from the beginning of 2011 to end of 2015.

For more details on BASF SE management and employee reps sign new agreement for Ludwigshafen site click here

Naphtha cracks at one-week highs in Asia

Naphtha cracks in Asia rose to a one-week high, and backwardation widened on expectations of tighter supplies in January, as per Reuters. A surge in European naphtha prices and rising freight rates maay reduce arbitrage flow to Asia in January.

For more details on Naphtha cracks at one-week highs in Asia click here

Arkema announces 5 year growth plan

Arkema announced its 2015 targets and emphasizes its growth strategy for the next five years. At the end of this new development phase, in 2015, Arkema has the ambition to generate above €1 bln EBITDAA, corresponding to 14% (1) EBITDA margin.

For more details on Arkema announces 5 year growth plan click here

Survival of aromatics value chain possible if customers thrive

After two years of very tough business conditions for the C6 aromatics value chain, Sven Royall, Shell Chemicals Vice President for Intermediates, said that there is now "a ground swell of opinion thrroughout the industry that better times are coming.

For more details on Survival of aromatics value chain possible if customers thrive click here

Total Petrochemicals in talks with Qatar for a US$6 bln petrochemical plant

Signs are mounting that ExxonMobil Corp. has pulled out of a petrochemical project in Qatar. Total Petrochemicals is in talks with Qatar about developing a US$6 bln petrochemical plant in the gas-richh Arab Gulf state.

For more details on Total Petrochemicals in talks with Qatar for a US$6 bln petrochemical plant click here

New team of office bearers at AIPMA

A new team of office bearers is in place at the All India Plastic Manufacturers Association.
Mr. Yogesh Shah – President
Mr. Jayesh Rambhia – VP West Zone
Mr. R.K. Aggarwal – VP North Zone
Mr.

For more details on New team of office bearers at AIPMA click here

Formosa running 1.03 mln tpa No. 2 ethylene cracker at 70%

Formosa Petrochemical Corp. has restarted it’s running its 1.03 mln tpa No. 2 ethylene plant. The plant is running at 70% of capacity currently, as per ICIS. Its No. 1 cracker, with capacity to producce 700,000 tpa of ethylene has resumed operations in October, and is running at 80-90% capacity since Oct.

For more details on Formosa running 1.03 mln tpa No. 2 ethylene cracker at 70% click here

Manufacturing Photovoltaics continues to undergo change in terms of technology and materials

Photovoltaic manufacturing is undergoing change in terms of technology and materials. Production costs per module need to come down to a more profitable level whilst maintaining durability and enhanciing performance and functionality.

For more details on Manufacturing Photovoltaics continues to undergo change in terms of technology and materials click here

South East Asian PP, PE buyers continue to be in the sidelines

Players report that there has not been much trading activity in Southeast Asia’s PP and PE markets this week as most buyers have elected to remain in the sidelines in hopes of seeing more attractive pprices in the weeks ahead, as per Chemorbis.

For more details on South East Asian PP, PE buyers continue to be in the sidelines click here

Higher PVC offers emerge from USA in global markets

Higher offers for American PVC emerged this week in several major global markets, including China, Egypt, Turkey and Italy, as per Chemorbis. This upward movement was attributed to tight ethylene suppplies as a result of an unplanned cracker outage which affected the production of several PVC plants in the US.

For more details on Higher PVC offers emerge from USA in global markets click here

Italy’s plastics imports for August 2010 slow down

Recent statistics revealed by Eurostat show that Italy’s plastics imports in August were the lowest in the eight months of 2010 – plunging on a monthly basis, decreasing from 383,000 tons to 243,000 ttons from July 2010 to August 2010, as per Chemorbis.

For more details on Italy’s plastics imports for August 2010 slow down click here

Aegis Logistics to build global oil and petrochemicals storage complex

Aegis Logistics has announced a major deal to avail on sub-lease close to 100 acres of land for building a global oil and petrochemicals storage complex. Aegis will invest up to Rs 400 crore (US$90 mlln) in building a 600,000 KL oil terminal complex in Port Pipavav.

For more details on Aegis Logistics to build global oil and petrochemicals storage complex click here

PTT eyes Burma’s planned deep-sea port at Tavoy for long term expansion of petrochemical and refining businesses

PTT is eyeing the deep-sea port planned for Tavoy on Burma's southern coast as an opportunity for expansion of its petrochemical and refining businesses in the long term, replacing the current facilitty on the Southern Seaboard.

For more details on PTT eyes Burma’s planned deep-sea port at Tavoy for long term expansion of petrochemical and refining businesses click here

IPIC plans global business acquisitions through its Borealis AS plastics unit

Abu Dhabi’s state company with petrochemical holdings - International Petroleum Investment Co. plans to acquire businesses through its Borealis AS plastics unit. In its drive to expand internationallyy through mergers and acquisitions, IPIC’s acquisitions in 2009 included Canada’s Nova Chemicals Corp.

For more details on IPIC plans global business acquisitions through its Borealis AS plastics unit click here

Naphtha refining margins in Asia declined to the lowest in two weeks

Japan’s benchmark open-specification naphtha forward contracts for delivery in H2-January were bid at US$768/ton against offers at US$771, according to brokerage Ginga Petroleum Singapore Pte in Bloommberg.

For more details on Naphtha refining margins in Asia declined to the lowest in two weeks click here

Crude oil prices rise, but escalating tensions between Koreas feared to impact global trade

Despite mixed Asian equity markets and geopolitical tensions between the Koreas, crude oil prices saw an upward trend in Asia. However, prices are expected to decline in line with lower trading volumees ahead of the American Thanksgiving holiday amid the US oil inventory data report due.

For more details on Crude oil prices rise, but escalating tensions between Koreas feared to impact global trade click here

Technique to permanently bind antibacterial coatings to medical devices

A technique to permanently bind antibacterial coatings to medical devices has been developed by a research group at the University of South Australia. The technique can find application in orthopedic implants, catheters, contact lenses; first binding them to a polymer layer.

For more details on Technique to permanently bind antibacterial coatings to medical devices click here

SKC Ltd. has completed construction of a polyurethane plant in Poland

South Korea’s industrial film maker SKC Ltd., has completed a polyurethane (PU) plant in a special economic zone in southwestern Poland. This is SKC’s third overseas polyurethane plant. Earlier this yyear, in May, SKC completed its polyurethane plant in Georgia, the United States.

For more details on SKC Ltd. has completed construction of a polyurethane plant in Poland click here

India imposes anti dumping duty on PP imports from Oman, Saudi Arabia, Singapore for 5 years

For more details on India imposes anti dumping duty on PP imports from Oman, Saudi Arabia, Singapore for 5 years click here

FCFC to begin construction of solvents plant in 2011 at Ningbo

Taiwan's Formosa Chemicals and Fiber Corporation will start construction work on a phenol and acetone plant in Ningbo, China by mid-2011, as per Platts. Capacities will include 300,000 tpa of phenol, and 180,000 tpa of acetone.

For more details on FCFC to begin construction of solvents plant in 2011 at Ningbo click here

PetroChina's expansion of Daqing unit to be delayed by a year

PetroChina's planned capacity expansion of its Daqing unit has been deferred by a year. Embarked upon in September 2009, the expansion, that will double ethylene capacity to 1.2 mln tpa, will be complleted by June 2012 - about a year later than an earlier plan.

For more details on PetroChina's expansion of Daqing unit to be delayed by a year click here

Cepsa to feed San Roque PET plant with 100,000 tpa of PTA

Cepsa Quimica's new 150,000 tpa polyethylene terephthalate (PET) plant at San Roque, Spain, will be fed with roughly 100,000 tpa of feedstock from the upstream purified terephthalic acid (PTA) market when it comes online, as per Platts.

For more details on Cepsa to feed San Roque PET plant with 100,000 tpa of PTA click here

SABIC's new polyolefin logistics centre in north-east England to replace current logistics centre in UK

Saudi Basic Industries Corporation (SABIC) has inaugurated its state-of-the-art polyolefin logistics centre in Middlesbrough, north-east England. This center is to replace SABIC's current logistics ceentre in the UK.

For more details on SABIC's new polyolefin logistics centre in north-east England to replace current logistics centre in UK click here

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

CRUDE OIL
In the week of November 22, 2010, New York's main contract, light sweet crude for delivery in December fell to $US81.5 per barrel, while Brentt North Sea crude dipped to $US84.

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

Spot propylene gains ground in Europe and USA, retreats in Asia

Spot propylene prices moved higher over the past week in Europe and the US based on availability concerns as well as better than expected demand from the European market. Meanwhile, spot propylene prrices moved down in Asia as weaker derivative demand combined with declining upstream costs sent Asian buyers to the sidelines, as per Chemorbis.

For more details on Spot propylene gains ground in Europe and USA, retreats in Asia click here

Vitol buys 70,000 tons December naphtha from ONGC, MPRL

Western trader Vitol has bought 70,000 tons of December naphtha from Oil & Natural Gas Corp (ONGC) and its subsidiary MRPL, as per Reuters. US$14-14.50/ton was paid by Vitol to Middle East quotes on aa free-on-board (FOB) basis for 35,000 tons procured from ONGC for Dec.

For more details on Vitol buys 70,000 tons December naphtha from ONGC, MPRL click here

Strong naphtha demand from end-users persists in Asia

Naphtha demand from end users continues to be strong in Asia. South Korea’s Honam Petrochemical has procured 100,000 tons of spot naphtha for delivery in H2-December at a premium of US$6/ton to Japan quotes CFR, as per ICIS.

For more details on Strong naphtha demand from end-users persists in Asia click here

600,000 tons of deep-sea naphtha bound for Asia from Europe in next two months

Asia is to receive 600,000 tons of deep-sea naphtha supply from Europe in December and January, as a recent run-up in prices helped to make arbitrage economics workable, as per ICIS. As demand continuues to be strong, 450,000 tons is slated for arrival in December, and the balance is expected to arrive in January.

For more details on 600,000 tons of deep-sea naphtha bound for Asia from Europe in next two months click here

Commitment to sustainability through preservation of non-renewable resources and reducing the environmental impact of its product portfolio

Rhodia Engineering Plastics reinforces its pledge to champion sustainable development with the launch at K 2010 of more ground-breaking innovations in materials, processing technology and advanced serrvices.

For more details on Commitment to sustainability through preservation of non-renewable resources and reducing the environmental impact of its product portfolio click here

SK Energy and China’s state-run coal producer to cooperate in coal-based chemical business

South Korea's number one refiner SK Energy Co. has signed a preliminary deal with a Chinese state-run coal producer to cooperate in the coal-based chemical business. Under the deal with Zaozhuang Coaal Mining Group Co.

For more details on SK Energy and China’s state-run coal producer to cooperate in coal-based chemical business click here

Falling stock markets, rising US dollar pull down crude oil

As stock markets fell and US dollar strengthened, crude for January delivery dipped to US$81.3 in electronic trading on the Nymex, while Brent crude fell to US$83.4 a barrel on the ICE Futures exchangge in London.

For more details on Falling stock markets, rising US dollar pull down crude oil click here

Polyamide-based continuous fiber reinforced materials: solution for high demanding transportation, industrial and consumer applications

Evolite™ by Technyl®, an extensively patented range of polyamide-based continuous fiber reinforced materials from Rhodia, made its debut at K2010. This innovative family of thermoplastic composite is the ultimate solution for high demanding transportation, industrial and consumer applications, achieving an optimal and unique balance between lightweight and performance.

For more details on Polyamide-based continuous fiber reinforced materials: solution for high demanding transportation, industrial and consumer applications click here

Honam to foray into PET film business as a part of expansion in performance material business

Honam Petrochemical is to foray into polyethylene terephthalate (PET) film business as a part of its expansion strategy in the performance material business. Honam, an affiliate of the Lotte Group, pllans to build this production facility within KP Chemical’s site in Ulsan.

For more details on Honam to foray into PET film business as a part of expansion in performance material business click here

Bearish sentiments in Asia on Chinese government decision to raise reserve requirements at the country’s banks to head off inflation

Markets where the Eid holidays were being celebrated last week are returning to business this week amidst big changes in market dynamics. Just prior to last week’s holidays, the Chinese government haad taken the decision to raise reserve requirements at the country’s banks in order to head off inflation, as per Chemorbis.

For more details on Bearish sentiments in Asia on Chinese government decision to raise reserve requirements at the country’s banks to head off inflation click here

Facts about phthalates

" In the U.S., these plastic products are typically not made of vinyl and therefore are not made with phthalates: food packaging, baby bottles and nipples, plastic water bottles, plastic food containeers, plastic food wrap, and polyethylene terephthalate (PET).

For more details on Facts about phthalates click here

Thai Oil Pcl plans to spend on paraxylene capacity expansion and new machinery

Thai Oil Pcl plans to spend US$500 mln - 1 bln from 2011 to 2015, mainly on paraxylene capacity expansion and new machinery. Under the plan, the company will spend US$300-400 mln in 2011 mainly to upggrade its paraxylene plant and improve its refinery plant to meet Euro 4 pollution standards.

For more details on Thai Oil Pcl plans to spend on paraxylene capacity expansion and new machinery click here

Siam Cement Group's petrochemical project in Vietnam faces another delayed

Siam Cement Group's petrochemical project in Vietnam will face another delay, in wait for the new government to be elected and formed in March. SCG is the leader of the consortium working on the petroochemical complex project.

For more details on Siam Cement Group's petrochemical project in Vietnam faces another delayed click here

Oil slips as China's move to curb inflation raises concerns of a global economic slowdown

New York's main contract, light sweet crude for delivery in December fell to $US81.5 per barrel, while Brent North Sea crude dipped to $US84.3 in London. Oil prices have dropped towards end of last weeek on anticipation that China's latest move to curb soaring inflation raised concerns over a global economic slowdown.

For more details on Oil slips as China's move to curb inflation raises concerns of a global economic slowdown click here

Idemitsu Kosan Co restarts Chiba naphtha cracker

Idemitsu Kosan Co has restarted its 374,000 tpa naphtha cracker at Chiba. The plant had an emergency shutdown for six days due to an unspecified problem with the unit. On spec production has started.

For more details on Idemitsu Kosan Co restarts Chiba naphtha cracker click here

INEOS restarting Chocolate Bayou cracker, rally in ethylene spot to get reined in

INEOS has embarked on restarting one of its Chocolate Bayou crackers in Texas, which were downed by lightning on 1 November. Outage at this plant triggered a significant rally in ethylene spot prices,, as per ICIS.

For more details on INEOS restarting Chocolate Bayou cracker, rally in ethylene spot to get reined in? click here

Bayer MaterialScience to invest €110 mln in five new PC downstream facilities in China

As part of its ongoing process to serve the booming manufacturing sector in China, Bayer MaterialScience plans to invest €110 mln to build five new downstream facilities in China by 2012. The facilitiies comprise three polyurethanes systems houses, a new polycarbonate sheet facility and a polycarbonate color compounding and design center.

For more details on Bayer MaterialScience to invest €110 mln in five new PC downstream facilities in China click here

US$3 bln investment in pipeline to transport ethanol to local markets and for export

An investment of US$3 bln has been planned by a consortium of six towards building of a pipeline to transport ethanol from Riberao Preto to local markets and for export. About 20 million cubic meters pa will be carried by the pipeline by 2020.

For more details on US$3 bln investment in pipeline to transport ethanol to local markets and for export click here

Naphtha and naphtha cracks ease in Asia

Formosa's decision to delay start up of its naphtha cracker has weighed on cracks which eased to a two-session low on Friday at US$159.5/ton premium from a 8-1/2 month high the previous day. Mid week,, naphtha prices eased by about 3 dollars - front month H1-January dipped to US$796/ton, its lowest level since Nov.

For more details on Naphtha and naphtha cracks ease in Asia click here

Formosa delays restart of 1.03 mln tpa No. 2 cracker

Asia's number one naphtha buyer Formosa Petrochemical Corp has delayed the restart of its 1.03 mln tpa No. 2 naphtha cracker due to minor leakages. The cracker has been shut since Oct. 5 for a 40 day routine maintenance.

For more details on Formosa delays restart of 1.03 mln tpa No. 2 cracker click here

Naphtha cracks recover, defying expectations that incoming arbitrage would weigh on sentiment

Asian naphtha prices sank to two week lows as cracks recovered to peak to an 8-1/2 month high, defying earlier expectations that incoming arbitrage cargoes would weigh on sentiment, as per Reuters. A sense of supply tightness persists despite the 500,000 tons of arbitrage cargoes likely to hit Asian shores.

For more details on Naphtha cracks recover, defying expectations that incoming arbitrage would weigh on sentiment click here

Azerikimya plans new 200,000 tpa polypropylene plant

The State Oil Company of Azerbaijan (SOCAR) plans to build a new plant with 200,000 tpa polypropylene capacity at its chemical subsidiary Azerikimya.
The expansion plan is envisaged in two stages: IIn stage one, manufacture of polyethylene will be increased up to 350,000 tpa, including 120,000 tpa of polypropylene.

For more details on Azerikimya plans new 200,000 tpa polypropylene plant click here

Rs 1800 mln term finance for Pakistan's BOPET plant

Term finance for Pakistan's first ever Bi-axially Oriented Poly Ethylene Terephthelate (BOPET) plant has been announced. Faysal Bank Ltd and National Bank of Pakistan will provide finance of Rs 1800 mmillion as per Iqbal Mirza.

For more details on Rs 1800 mln term finance for Pakistan's BOPET plant click here

Arkema to invest US$110 mln over 3 years in Acrylics chain

Arkema plans to invest US$110 mln over 3 years in its Acrylics sites in Clear Lake and Bayport, Texas. This plan will target acrylic acid and its esters, and will focus on growth opportunities seen foor applications in water treatment, super absorbent polymers and enhanced oil & gas recovery.

For more details on Arkema to invest US$110 mln over 3 years in Acrylics chain click here

Start-up new electromembrane chlorine plant by Lukoil subsidiary in Ukraine

Russian oil group Lukoil’s subsidiary Karpatnaftochim’s new electromembrane chlorine plant has started up at its Ukrainian site with capacity to 200,000 tpa of caustic soda and 180,000 tpa of chlorinee.

For more details on Start-up new electromembrane chlorine plant by Lukoil subsidiary in Ukraine click here

US demand for degradable plastics to grow 16.6% annually through 2014

The degradable plastic industry has been on the verge of commercial success for decades. However, demand growth was limited because most degradable plastics were too expensive, were unavailable in larrge enough quantities or had performance drawbacks that limited them to niche markets.

For more details on US demand for degradable plastics to grow 16.6% annually through 2014 click here

WRAP’s project to enable retailers and brands to use recycled polypropylene in food packaging

WRAP (Waste & Resources Action Programme) has recently begun a scoping project with the aim of enabling retailers and brands to use recycled polypropylene plastic in food packaging. Polypropylene is rregularly recycled into industry plastics application (such as buckets and pallets), but until now, recycling it into food grade packaging has not been possible.

For more details on WRAP’s project to enable retailers and brands to use recycled polypropylene in food packaging click here

Korea SK Energy starts test runs at Ulsan experimental steam cracker

South Korea's SK Energy has begun test runs on a steam cracker at its Ulsan complex that utilizes experimental technology, as per Platts. The cracker uses naphtha as the primary raw material, but is aalso able to use diesel or kerosene as secondary feedstocks.

For more details on Korea SK Energy starts test runs at Ulsan experimental steam cracker click here

HPCL to invest US$6.7 bln in 18 mln tpa refinery on West Coast

India's state-owned Hindustan Petroleum Corp. Ltd (HPCL) plans to invest Rs 30,000 crore (US$6.7 bln) to set up an 18 mln tpa refinery in the state of Maharashtra. The new refinery was conceptualised to make up for space constraints at HPCL's existing Mumbai Refinery.

For more details on HPCL to invest US$6.7 bln in 18 mln tpa refinery on West Coast click here

Technip awarded EPC support lump sum contract by Valero Refining Company at Port Arthur

Technip has been awarded an engineering, procurement and construction support lump sum contract by Valero Refining Company for two flare gas recovery units at its Port Arthur, Texas refinery. Each uniit involves modification to the existing flare system, gas compression and gas treating to remove hydrogen sulfide.

For more details on Technip awarded EPC support lump sum contract by Valero Refining Company at Port Arthur click here

Belarusian-Vietnamese intergovernmental commission agrees on cooperation in petrochemicals

The Belarusian-Vietnamese intergovernmental commission on trade-economic and scientific-technical cooperation has agreed on cooperation in the petrochemical industry. Petrochemical theme was the highllight of the talks.

For more details on Belarusian-Vietnamese intergovernmental commission agrees on cooperation in petrochemicals click here

North American transparent plastics market estimated to reach 4 bln lbs by 2015

The North American transparent plastics market, estimated at over 3.3 billion lbs in 2010, is expected to reach 4 bln lbs by 2015, at a compound annual growth rate (CAGR) of 3.7%, as per BCC Research..

For more details on North American transparent plastics market estimated to reach 4 bln lbs by 2015 click here

Demand for degradable plastics in USA to rise nearly 11% pa through 2014

Demand for degradable plastics in USA is projected to rise nearly 11% pa to 335 mln lbs in 2014, valued at US$390 mln, as per Freedonia. Although representing less than 0.5% of all thermoplastic resinn demand in 2009, degradable plastics will exhibit substantial growth opportunities.

For more details on Demand for degradable plastics in USA to rise nearly 11% pa through 2014 click here

Unmet performance from unfilled high-flow polyamide 66 grades

Rhodia is extending its TechnylStar® high-flow polyamide 66 technology to a new generation of unfilled grades that demonstrate unmet performance in terms of energy consumption reduction. Unfilled TechhnylStar has been specifically designed for mass-production applications requiring short injection cycles and complex molds.

For more details on Unmet performance from unfilled high-flow polyamide 66 grades click here

Crude market dull on lack of news

Crude oil saw very marginal movement, slipping to US$82.1 on the Nymex for delivery in December while January Brent crude on London's ICE Futures exchange fell by twenty cents to US$84.5 a barrel. Dulllness in crude markets can be attributed to lack of news.

For more details on Crude market dull on lack of news click here

Indorama Ventures mulls US$1.2 bln investment in two new plants in the Middle East

After recent acquisitions in China, USA and Mexico at over US$500 mln, world number one producer of polyethylene terephthalate (PET) - Indorama Ventures Plc (IVL) is considering an investment of US$1..

For more details on Indorama Ventures mulls US$1.2 bln investment in two new plants in the Middle East click here

Innovative range of high heat, low color distortation, low emission additive formulations for thermoplastics

An innovative range of high heat, low color distortation, and low emission additive formulations for thermoplastics which deliver significant benefits to compounders, molders and end-users has been deeveloped by Songwon.

For more details on Innovative range of high heat, low color distortation, low emission additive formulations for thermoplastics click here

TAIF plans to sell stake in refineries and chemical plants to fund US$11 bln of investments

TAIF, an investment group based in Russia's Tatarstan region, is to decide on plan to sell shares in its refineries and chemical plants to help fund 347 billion rubles (US$11 bln) of investments. The group is considering selling equity in the TAIF-NK oil refinery and petrochemicals units OAO Nizhnekamskneftekhim and OAO Kazanorgsintez to fund the investment plan through 2016.

For more details on TAIF plans to sell stake in refineries and chemical plants to fund US$11 bln of investments click here

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

CRUDE OIL
News that China is to take steps to cool the economy has pulled down oil prices to below US$85 in the week of November 15, 2010. Investors shiifted focus from commodities to the dollar amid renewed fears about a debt crisis in Europe and worries that Beijing will move to cool growth in China's overheating economy.

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

Styrene demand growing at the fastest pace since 2007

In 2010, after two years of contracting global demand, demand has resumed an upward trajectory and is now growing at the fastest pace since 2007 as per Chemical Market Associates, Inc. (CMAI)’s 2011 WWorld Styrene Analysis.

For more details on Styrene demand growing at the fastest pace since 2007 click here

Indian Oil Corp. plans to export surplus naphtha mainly to Japan

Indian Oil Corp., operating about 33% of India’s refining capacity, plans to export surplus naphtha. The Indian major sees demand mainly from Japan as petrochemicals demand sees robust growth.


For more details on Indian Oil Corp. plans to export surplus naphtha mainly to Japan click here

Rising demand amid fuel shortage in China propels naphtha to 2 year highs: threefold increase in shipments from Europe

As demand for petrochemicals in China soars amid fuel shortage, naphtha prices in Asia have peaked to two year highs, spurring an almost threefold increase in shipments from Europe. Asia-bound cargoess of naphtha may rise to 290,000 tons this month from 110,000 tons in October, according to the median estimate of four European traders surveyed by Bloomberg.

For more details on Rising demand amid fuel shortage in China propels naphtha to 2 year highs: threefold increase in shipments from Europe click here

CNOOC commences construction of fine chemical project in Hainan Province

Oil Corp. (CNOOC) has started constructing a CNY 8.3 billion fine chemical project in Dongfang city industrial park, Hainan Province. The project will be constructed in two phases. The first-phase prooject, to start operation in December 2012 with CNY 4.

For more details on CNOOC commences construction of fine chemical project in Hainan Province click here

Formosa Plastics Group plans to invest over US$2 bln in China

Formosa Plastics Group plans to invest US$2.3 bln to expand its complex in China. The petrochemical project in the coastal city of Ningbo has passed the Chinese government's environmental impact evaluuation.

For more details on Formosa Plastics Group plans to invest over US$2 bln in China click here

Chinese will compete for naphtha cargoes with South Korean petrochemical makers

China turned into a net importer of naphtha last year following an increase in the number of petrochemical plants. In 2009, China was net short of nearly 1.8 mln tons of naphtha, and up to January-Sepptember 2010, it was net short of close to 1.

For more details on Chinese will compete for naphtha cargoes with South Korean petrochemical makers click here

Unspecified problem leads to shutdown at Idemitsu Kosan's naphtha cracker at Chiba

An unspecified problem at Idemitsu Kosan's naphtha cracker has led to shutdown of the cracker at Chiba. The 374,000 tpa ethylene cracker is expected to restart in about a week.

For more details on Unspecified problem leads to shutdown at Idemitsu Kosan's naphtha cracker at Chiba click here

Unexpected demand from China sustains strength in naphtha strength despite arbitrage cargoes

China is seeking additional quantities of naphtha for the last quarter of 2010, probably extending the bull-run until Q1 2011. Unipec, trading arm of top Chinese oil firm Sinopec has bought at least tthree medium-range cargoes of 30,000 tons each, for Q4 delivery mainly into Eastern China, as per Reuters.

For more details on Unexpected demand from China sustains strength in naphtha strength despite arbitrage cargoes click here

China buys 90,000 tons of naphtha, seeks additional quantities for Q4

Firm demand from China for naphtha has kept Asian markets bullish. After buying 90,000 tons, China is seeking additional quantities of naphtha for the last quarter of 2010, probably extending the bulll-run until Q1 2011.

For more details on China buys 90,000 tons of naphtha, seeks additional quantities for Q4 click here

IOC restarts delayed coker, upgraded crude plant; to restart hydrocracker at Panipat

Indian Oil Corporation (IOC) has restarted a delayed coker and an upgraded crude plant last weekend and is to restart the hydrocracker this week. IOC will be operating its Panipat refinery at 300,000 bpd within a week.

For more details on IOC restarts delayed coker, upgraded crude plant; to restart hydrocracker at Panipat click here

Maintenance schedule of crackers in Japan

Japan's Mitsui Chemicals Inc plans to shut one of its two naphtha crackers in 2011 for
minor maintenance. The 553,000 tpa ethylene cracker at Ichihara (Chiba) will be shut, while the 455,000 tpa Osaaka cracker will not be affected.

For more details on Maintenance schedule of crackers in Japan click here

News that China could take steps to cool economy pulls down oil below US$86

News that China could take steps to cool the economy has pulled down oil prices. Investors shift focus from commodities to the dollar amid renewed fears about a debt crisis in Europe and worries that Beijing will move to cool growth in China's overheating economy.

For more details on News that China could take steps to cool economy pulls down oil below US$86 click here

Construction at Assam Gas Cracker Project running behind schedule at Lepetkata

Construction work at the Assam Gas Cracker Project at Lepetkata, 11km from here, is running behind schedule, despite speeding up activities on various fronts. Barely 27% progress has been made on the flagship project, against a target of 50%.

For more details on Construction at Assam Gas Cracker Project running behind schedule at Lepetkata click here

Indorama to acquire Invista

Indorama's acquisition of Invista in Spartanburg and Queretaro, Mexico awaits required regulatory approval. The total value of the purchase is estimated at US$420 mln. The process is expected to be fiinalized in Q1-2011.

For more details on Indorama to acquire Invista click here

Limited avails restrict procurement of PE and PP at lower prices in Europe

European buyers of polyethylene (PE) and polypropylene (PP), on account of limited availability, have not been able to procure lower prices as they had confidently anticipated by the end of 2010, as pper ICIS.

For more details on Limited avails restrict procurement of PE and PP at lower prices in Europe click here

Upcoming metallocene LLDPE capacity could pressure prices to levels below LDPE

Metallocene linear low density polyethylene (mLLDPE) is to get cheaper than low density polyethylene (LDPE), as per ICIS. C6 mLLDPE is marketed as a premium resin with superior features such as easy pprocessability and high tearing resistance, has been priced at at least US$50/ton over commodity PE film grades in recent years.

For more details on Upcoming metallocene LLDPE capacity could pressure prices to levels below LDPE click here

Teijin's first high-performance PE facility to commence production in Netherlands in 2011

Teijin Limited's first high-performance polyethylene (HP-PE) unit is to commence commercial production in Emmen, the Netherlands, by H2-2011. Teijin plans to grow its HP-PE business quickly through iinnovation and market cultivation, targeting a global market share of 15-20% by 2015.

For more details on Teijin's first high-performance PE facility to commence production in Netherlands in 2011 click here

Saudi Aramco and Dow Chemicals JV to favour local Saudi Arabian contractors

The US$15 bln joint venture between Saudi Aramco and Dow Chemicals to be located at Jubail is on track and is expected to favour Saudi Arabian contractors by allocating 30% of the construction budget in their favour.

For more details on Saudi Aramco and Dow Chemicals JV to favour local Saudi Arabian contractors click here

BP has restarted Gelsenkirchen ethylene unit post-maintenance

Following a maintenance turnaround, the Gelsenkirchen (Germany) sited ethylene unit of BP Plc has been reopened. The Gelsenkirchen unit can produce 1.05 mln tpa of ethylene and is integrated with an aadjacent 266,000 bpd refinery.

For more details on BP has restarted Gelsenkirchen ethylene unit post-maintenance click here

Offers for January-December naphtha reduced to Asia by ADNOC

Abu Dhabi National Oil Co. (ADNOC) has reduced offers for January-December naphtha to Asia. As per confidential disclosures offers have been reduced by US$.50 since last week to US$18.50/mt above bencchmark Middle East prices for Pentane Plus, to US$17.

For more details on Offers for January-December naphtha reduced to Asia by ADNOC click here

Braskem selects INEOS technology for two polyethylene plants

For two of its three polyethylene projects at Ethylene XXI in Mexico, Braskem has selected INEOS´s Innovene S slurry technology. The combined capacity of the two high density polyethylene plants is pllanned at 750,000 tpa.

For more details on Braskem selects INEOS technology for two polyethylene plants click here

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

CRUDE OIL
Crude oil prices surged past US$86 in the week of November 8, 2010- its highest level the highest settlement price since Oct. 8, 2008, on encourraging figures from USA.

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

Qapco to be the principal sponsor of ArabPlast 2011

Qatar Petrochemical Company (Qapco) will be the principal sponsor of ArabPlast 2011, the Middle East's largest trade show for rubber, plastics and petrochemicals, which will be held in Dubai in Januarry.

For more details on Qapco to be the principal sponsor of ArabPlast 2011 click here

Indian players report better polymer demand after the holidays

Market players in India report better demand for most polymer products following the Diwali holidays as buyers return to the market to replenish stocks, as per Chemorbis. With demand beginning to picck up, sellers are said to be mulling price increases in the days ahead.

For more details on Indian players report better polymer demand after the holidays click here

CB&I inks agreement with SABIC to jointly develop and commercialize toluene methylation technology

CB&I has signed an agreement with SABIC Americas to jointly develop and commercialize toluene methylation technology. Toluene methylation is used to selectively produce paraxylene within an aromatics complex.

For more details on CB&I inks agreement with SABIC to jointly develop and commercialize toluene methylation technology click here

Qatar inaugurates 700,000 tpa polyethylene and olefins plant at Masaeed industrial city

Qatar has inaugurated Q-Chem II - a petrochemicals plant with a production capacity of about 700,000 tpa of polyethylene and olefins at Masaeed industrial city. The plant has been built at an investmeent outlay of US$1.

For more details on Qatar inaugurates 700,000 tpa polyethylene and olefins plant at Masaeed industrial city click here

Honam completes acquisition of 72.3% stake in Titan Chemicals

South Korea's number two ethylene maker Honam Petrochemical has acquired 72.3% stake in Malaysia's Titan Chemicals as per Platts. Honam completed a payment of Won 1.1 trillion ($990 million) for a 72..

For more details on Honam completes acquisition of 72.3% stake in Titan Chemicals click here

Oil prices fall below US$87 on widespread decline in regional stocks amid a strong dollar

A wide spread decline in regional stocks amid a strong dollar has been followed by a fall in oil prices. Light sweet crude for December delivery was traded at US$86.5 a barrel at noon Singapore time wwhile Brent crude was at US$87.

For more details on Oil prices fall below US$87 on widespread decline in regional stocks amid a strong dollar click here

Sibur commences production at Perm styrenics plant

Russian petrochemicals producer Sibur has started production of ethyl-benzene, styrene and expandable polystyrene at its new site in Perm, as per Platts. The site, which has been upgraded and expandedd at a total investment of over Rb8 bln (US$260.

For more details on Sibur commences production at Perm styrenics plant click here

Plant shutdowns in Japan in 2011

Japan Polypropylene Corp. plans to permanently shut two PP plants - The Kashima plant with capacity of 90,000 tpa will be shutdown in May 2011, and the 79,000 tpa Goi plant will be shutdown in June 20011.

For more details on Plant shutdowns in Japan in 2011 click here

Asian naphtha prices at more than two year highs, cracks at near four week lows

Naphtha prices in Asia inched up to stay at its highest level in over two years on
Tuesday, and naphtha cracks slipped to near four-week lows on a temporary buying lull from petrochemical makers, as per Reuters.

For more details on Asian naphtha prices at more than two year highs, cracks at near four week lows click here

Brückner hits the road to largest total order quantity

For Brückner, the K 2010 has been the highlight of a very special year: The company has celebrated its 50th anniversary and hit the road to the largest total order quantity ever. Several contracts havve even been freshly signed during the K.

For more details on Brückner hits the road to largest total order quantity click here

Mitsubishi to conduct planned maintenance at its three naphtha crackers in 2011

Japan's Mitsubishi Chemical Corp plans to conduct planned maintenance at its three naphtha crackers in 2011, as per Reuters, probably between May and July.
Kashima 1, with capacity to produce 375,0000 tpa of ethylene, Kashima 2, with capacity to produce 453, 000 tpa of ethylene and Mizushima with capacity to produce 450, 000 tpa of ethylene will be shut sometime in May-July.

For more details on Mitsubishi to conduct planned maintenance at its three naphtha crackers in 2011 click here

Maruzen plans to skip scheduled maintenance at naphtha cracker in 2011

Maruzen Petrochemical Co Ltd plans to skip scheduled maintenance on its sole naphtha cracker in 2011, with capacity to produce 480,000 tpa of ethylene as per Reuters. The company's Keiyo Ethylene unitt also plans to skip maintenance at its cracker with capacity to produce 690,000 tpa of ethylene.

For more details on Maruzen plans to skip scheduled maintenance at naphtha cracker in 2011 click here

Global and China Plastic injection molding machine market

Plastic injection molding machine (also known as injection molding machine or injection machine) accounts for the largest share- 40% in China and 50-80% in Germany, Japan and the USA - in the total ouutput of plastic processing machinery, as per Research China.

For more details on Global and China Plastic injection molding machine market click here

SK Energy to restart No. 1 steam cracker shut since November 2008

South Korea's SK Energy plans to restart its No. 1 naphtha-fed steam cracker at Ulsan on November 20 as per Platts. The steam cracker has capacity to produce 200,000 tpa of ethylene and 140,000 tpa off propylene.

For more details on SK Energy to restart No. 1 steam cracker shut since November 2008 click here

Most Asian naphtha crackers and downstream derivatives continue to operate at near full capacity

Most naphtha crackers in Asia, with downstream derivatives, continue to operate at near full capacity or higher, thanks to a firm integrated margin, as per ICIS. However, sentiment may turn bearish inn the face of an ethylene price slump.

For more details on Most Asian naphtha crackers and downstream derivatives continue to operate at near full capacity click here

Asian naphtha price peaks to two year highs, cracks stay at three-week lows

Open spec naphtha prices for H2 December have reached US$799/mt- their highest level since Sept. 26 2008. Naphtha prices in Asia extended gains to reach their highest level in over two years at the sttart of this week, and cracks stayed at a three-week low due to muted spot demand, as per Reuters.

For more details on Asian naphtha price peaks to two year highs, cracks stay at three-week lows click here

US steam cracker margins from light feeds gain as ethylene rises

US steam cracker margins surged this week in line with ethylene which saw notable gains on the back of production outages, as per Platts. Despite strong ethane values, spot ethylene prices hit a 6-monnth high this week- traded as high as 51 cents/lb MtB Wms and 52.

For more details on US steam cracker margins from light feeds gain as ethylene rises click here

New PVC offers revealed higher in Asia towards year end

In China, after PVC sellers wrapped up their November business with increases of US$10/ton from October, Asian producers re-emerged with further increases on December import offers to the country, as per Chemorbis.

For more details on New PVC offers revealed higher in Asia towards year end click here

Higher prices in November meet resistance in Italy’s PP, PS markets

Amidst the noticeable price hikes for November, players in Italy’s PP and PS markets report that buyers are generally interested in the offers closer to the low end of the spot ranges, as per Chemorbiis.

For more details on Higher prices in November meet resistance in Italy’s PP, PS markets click here

PET recycling rate in USA rose by 28% in 2009

The recycling rate of polyethylene terephthalate increased 28% in 2009 making it the six consecutive year of gains in the United States´ recycling rate, as per The National Association for PET Containner Resources (NAPCOR).

For more details on PET recycling rate in USA rose by 28% in 2009 click here

Takreer invests US$10 bln to expand and diversify production capacity

In the framework of its persistent efforts to develop the oil refining industry, provide a robust support to on-going strategic expansion of Takreer refineries and meet the future challenges of optimaal integration with petrochemical industry, the Company inked this year agreement contracts worth more than US$10 bln to execute three huge expansion projects The grand expansion projects comply with Abu Dhabi National Oil Company (ADNOC)'s policy to develop the downstream industry in the country and meet future requirements for oil and gas.

For more details on Takreer invests US$10 bln to expand and diversify production capacity click here

Petrobras delays start-up of Comperj to 2016-2017

Petrobras has delayed the start-up of its Petrochemical Complex of Rio de Janeiro (Comperj) refinery and petrochemicals project to 2016-2017, as per ICIS. The global economic downturn and lower than eexpected resins demand is being held responsible for the delay.

For more details on Petrobras delays start-up of Comperj to 2016-2017 click here

Total and China Power Investment Corp to build coal-based petrochemical plant

Total and the Chinese energy group China Power Investment Corporation (CPI) have inked an MOU to build a coal-based petrochemical plant in China.
Total will bring its expertise in the Methanol to Ollefins (MTO) and the Olefin Cracking Process (OCP) technology and also study solutions on how to capture and store CO2 using the know-how gained from its CCS pilot project in Lacq (France).

For more details on Total and China Power Investment Corp to build coal-based petrochemical plant click here

Polypropylene offers from Brazil to Argentina rise for November

Polypropylene offers from Brazil to Argentina rose by US$50/mt for November but remained flat over October to fellow Mercosur countries Uruguay, Paraguay and Bolivia, as per Platts. October was a veryy competitive market in the Mercosur region that witnessed imports coming from different countries.

For more details on Polypropylene offers from Brazil to Argentina rise for November click here

Sinopec Zhenhai launches ethylene oxide/ethylene glycol plant with METEOR™ EO/EG process

Sinopec Zhenhai Refining & Petrochemical Co. Ltd. (ZRCC) has launched a new ethylene oxide/ethylene glycol (EO/EG) plant in China utilizing the revolutionary METEOR™ EO/EG process. Licensed through Thhe Dow Chemical Company, the Most Effective Technology for Ethylene Oxide Reaction (METEOR) process integrates process simplicity, inherent safety and superior catalyst technology into a single reactor design.

For more details on Sinopec Zhenhai launches ethylene oxide/ethylene glycol plant with METEOR™ EO/EG process click here

Domestic polystyrene prices move higher with styrene in Asia

In Asia, local PS prices in China and Southeast Asia have moved higher over the past few days in line with rising styrene feedstock costs, as per Chemorbis. In the region's import markets, strong resiistance from buyers has prevented PS prices from rising so far, with some sellers offering at the upper end of the import range even agreeing to price reductions of US$20-30/ton to speed up sales.

For more details on Domestic polystyrene prices move higher with styrene in Asia click here

World's largest plastics technical Conference during NPE 2012

The Society of Plastics Engineers (SPE) will co-locate the 2012 edition of its ANTEC® technical conference with the NPE2012 international plastics exposition, it was announced at K 2010 by SPE and SPII: The Plastics Industry Trade Association.

For more details on World's largest plastics technical Conference during NPE 2012 click here

Increases on PET prices maintain their pace in global markets

In China, domestic PET producers up-revised their November benchmark prices by CNY100-200/ton (US$15-30/ton) on ex-warehouse/FD China basis, in line with the rising crude oil prices, which gained overr US$5/bbl since the end of last week, as per Chemorbis.

For more details on Increases on PET prices maintain their pace in global markets click here

Boom in India's passenger vehicle segment sparks growth of Polypropylene compounds

Robust growth in the passenger vehicles sector has enabled the polypropylene compounds market in the Indian passenger vehicles segment to grow in leaps and bounds as per Research and Markets. This, cooupled with the provisional anti-dumping duties levied on polypropylene imports, has led to emergence of new participants in the polypropylene market in India.

For more details on Boom in India's passenger vehicle segment sparks growth of Polypropylene compounds click here

South Korean petrochem makers to upgrade naphtha cracking facilities as Asian demand resurges

South Korean petrochemical makers are racing to upgrade their naphtha cracking facilities to cash in on resurgent demand for plastics in Asia, led by China as per Reuters. LG Chem will raise its Daesaan naphtha cracker capacity by about 100,000 tpa in March 2011 bringing its total cracking capacity to 1.

For more details on South Korean petrochem makers to upgrade naphtha cracking facilities as Asian demand resurges click here

South Korean petrochem makers to upgrade naphtha cracking facilities as Asian demand resurges

South Korean petrochemical makers are racing to upgrade their naphtha cracking facilities to cash in on resurgent demand for plastics in Asia, led by China as per Reuters. LG Chem will raise its Daesaan naphtha cracker capacity by about 100,000 tpa in March 2011 bringing its total cracking capacity to 1.

For more details on South Korean petrochem makers to upgrade naphtha cracking facilities as Asian demand resurges click here

Saudi Aramco to open H1-2011 naphtha term talks in Singapore at month end

Saudi Aramco is to open term naphtha talks for January-June 2011 supply in the week starting November 29 in Singapore, as per Platts. Aramco offers five grades of naphtha on a term basis. For naphtha supplied in H2-2010, premiums were fixed at US$21/mt to formula for treated naphtha from Rabigh; US$20/mt to formula for A180 from Yanbu and Ras Tanura; US$19/mt to formula for chemical feed naphtha from Jubail; US$19/mt to formula for A310 from Ras Tanura and US$17/mt to formula for A310 from Jeddah.

For more details on Saudi Aramco to open H1-2011 naphtha term talks in Singapore at month end click here

Motion control solution lowers energy consumption in hydraulic molding machines by 30%

Moog has unveiled a new pump system at K-2010 that will provide injection molding and blow molding machine builders with a motion control solution that can lower energy consumption in hydraulic machinnes by 30% or more when compared to traditional approaches and ultimately reduce the total cost of ownership.

For more details on Motion control solution lowers energy consumption in hydraulic molding machines by 30% click here

Asian PE prices firm up despite weakening ethylene

Spot PE prices posted significant increases in the Chinese market last week and gained ground in Southeast Asia despite significant price reductions in spot ethylene prices for the second consecutive week, as per Chemorbis.

For more details on Asian PE prices firm up despite weakening ethylene click here

Naphtha price slipped to two-session low

Mid way of last week saw naphtha prices in Asia slip to a two-session low after reaching more than a two-year high on the previous day, as per Reuters. Cracks were reported to have fallen to a week loow on expectations of slower spot demand.

For more details on Naphtha price slipped to two-session low click here

PVC sentiments begin to change for the medium term in China

In China, PVC prices have been following an upward trend for the last three months driven by tight supplies and rising production costs, as per Chemorbis. As the high season is fading, sentiments in CChina’s PVC market is beginning to shift, with some players, including a couple of producers, already admitting that they expect to see some softening in prices in December.

For more details on PVC sentiments begin to change for the medium term in China click here

Dow breaks ground for acrylic and styrene-acrylic polymers plant in Vietnam

Dow Advanced Materials, a division of The Dow Chemical Co., has broken ground on a new manufacturing facility in Dong Nai Province in southern Vietnam for the production of acrylic and styrene-acrylicc polymers used in the paint, coatings, construction, packaging, home and personal care industries.

For more details on Dow breaks ground for acrylic and styrene-acrylic polymers plant in Vietnam click here

Dow and Shenhua submit PAR for approval for world scale integrated complex of coal, power and chemicals

The Dow Chemical Co. and the Shenhua Group (Shenhua) announced Tuesday that they have taken another important step forward by submitting Project Application Report (PAR) to the Chinese government for its approval to build and operate a world scale integrated complex of coal, power and chemicals in Yulin city, Shaanxi province.

For more details on Dow and Shenhua submit PAR for approval for world scale integrated complex of coal, power and chemicals click here

PT Chandra Asri to shut sole naphtha cracker in Octobver 2011 for routine maintenance

Indonesia's PT Chandra Asri plans to shut its sole naphtha cracker in October 2011 for routine maintenance of 40-45 days, as per Reuters. It’s 600,000 tpa unit is currently the country's only cracker..

For more details on PT Chandra Asri to shut sole naphtha cracker in October 2011 for routine maintenance click here

UNIPOL PE Process selected for 300,000 tpa HDPE/LLDPE swing plant in Shaanxi Province

Univation Technologies LLC announced that PuCheng Clean Energy Chemical Co. Ltd (PuCheng) has selected Univation's UNIPOL PE Process for a 300,000 tpa high density polyethylene/ linear low density swiing plant.

For more details on UNIPOL PE Process selected for 300,000 tpa HDPE/LLDPE swing plant in Shaanxi Province click here

Lightweight foamed PET container blow molding process for dairy applications

Plastic Technologies, Inc. (PTI) is making its oPTI™ lightweight foamed polyethylene terephthalate (PET) container blow molding process available for dairy applications via both stock and custom optioons.

For more details on Lightweight foamed PET container blow molding process for dairy applications click here

Rise in export duty on crude oil, ethylene, other liquefied gases in Russia

The rate of customs tariff on exports of crude oil increased in Russia by 9% from US$266.5 to US$290.6 per ton on November 1, 2010. The rate of oil export tariff also grew by 20.3% to US$98.8 per ton in Eastern Siberia.

For more details on Rise in export duty on crude oil, ethylene, other liquefied gases in Russia click here

Current light olefins market reflects mixed global demand growth environment

As per Chemical Market Associates, Inc. (CMAI)’s 2011 World Light Olefins Analysis:
The current market situation still reflects a mixed global demand growth environment – that is rapid expansion in developing regions and slow growth in developed regions - following the severe global economic recession in late 2008 and H1-2009.

For more details on Current light olefins market reflects mixed global demand growth environment click here

A comprehensive portfolio of technologies for fibrespray, extrusion, polyurethane processing

The Munich-based machinery and equipment manufacturer KraussMaffei and Netstal are jointly presenting a comprehensive portfolio of products for fibrespray, extrusion and polyurethane processing includding the innovative Fusion technology for the production of larger components.

For more details on A comprehensive portfolio of technologies for fibrespray, extrusion, polyurethane processing click here

Strong manufacturing data from USA and China propel oil prices

Crude oil has spiked by almost US$1.50- New York's main contract, light sweet crude for December, settled at US$82.9, while in London, Brent North Sea crude for delivery in December delivery settled aat US$84.

For more details on Strong manufacturing data from USA and China propel oil prices click here

Polyethylene resin for rotational molding offers significant performance advantages

Dow has introduced an experimental polyethylene resin for rotational molding that offers significant performance advantages over incumbent materials when used in the production of large storage tanks..

For more details on Polyethylene resin for rotational molding offers significant performance advantages click here

A firm trend persists in naphtha prices in Europe on petrochemical demand

A firm trend persisted in physical naphtha prices in Europe, after prices peaked to a 10 month high on the first day of the week. Prices continued to rise on strong demand from the petrochemical indusstry and Asia as per Reuters.

For more details on A firm trend persists in naphtha prices in Europe on petrochemical demand click here

Successful startup of Dow and Siam Cement Group JV

Start up of the Solution Linear Low Density Polyethylene II train (SPE II) has been successful. SPE II is owned by Siam Polyethylene Co. Ltd, a joint venture between Dow Chemical Company (Dow) and Siaam Cement Group (SCG), located at the existing Map Ta Phut manufacturing facility.

For more details on Successful startup of Dow and Siam Cement Group JV click here

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

CRUDE OIL
Yo-yoing oil prices have ended the week of November 1, 2010 a tad higher than last week. Oil for December delivery rose to US$81.96 on the Nymexx, while Brent crude for December settlement rose to US$83.

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

Olefins producers in Asia unable to compete with counterparts in Middle East

Olefins producers in Asia are finding it increasingly difficult to compete with their counterparts in the Middle East. Ethane-based ethylene production costs in Saudi Arabia are around US$200/MT, US$2250/MT in Qatar and US$615/MT in the US while naphtha-based ethylene production costs in Asia currently stand at US$1000/MT.

For more details on Olefins producers in Asia unable to compete with counterparts in Middle East click here

Songwon and HPL in Joint Venture for polymer stabilizers

Songwon and HPL have inked a deal to form a joint venture for polymer stabilizers. HPL will transfer all its business and assets related to polymer stabilizers to the new entity which will be owned 400% by HPL and 60% by Songwon.

For more details on Songwon and HPL in Joint Venture for polymer stabilizers click here

Petrobras inks deal to supply Toyota Tsusho Corp. hydrated ethanol for ten years

In a contract estimated at US$820 mln, Petrobras has signed a contract to supply Toyota Tsusho Corp. (TTC) hydrated ethanol for ten years. The delivery will be of 143,000 cubic meters per year to be uused as feedstock in a chemical ethanol project that TTC is deploying with a local partner in Taiwan to produce Bio-PET.

For more details on Petrobras inks deal to supply Toyota Tsusho Corp. hydrated ethanol for ten years click here

Turkey’s polymer imports soar in September

Turkey’s plastics imports soared on a monthly and yearly basis in September,according to the recent statistics revealed by the Turkish Statistical Institute (TUIK). As per Chemorbis, this year’s Septeember figure shows a trend line above the past ten years of imports, thereby setting a record high for the month.

For more details on Turkey’s polymer imports soar in September click here

Brighter high performance polypropylene parts with low weight, increased stiffness, temperature resistance

The new Hyperform® HPR family of reinforcing additives from Milliken provides processors with a new option for making high performance polypropylene parts with low weight. Hyperform® HPR-803 is intendded primarily for the automotive sector.

For more details on Brighter high performance polypropylene parts with low weight, increased stiffness, temperature resistance click here

Songwon to expand antioxidants capacity

Songwon Industrial Co. Ltd. plans expansion of its antioxidants capacity from 55,000 tons to 70,000 tons. The expanded capacity will be on stream from August 2011. The expansion is the result of the cconsolidation of the Songnox® 1076 production into Songwon’s new fully backwardintegrated Maeam plant.

For more details on Songwon to expand antioxidants capacity click here

As union tensions ebb, slow recovery of petrochem facilities in France commences

France’s Fos-Lavera petrochem terminal has been cleared after 33 days of strike that paralyzed the country's petrochem industry. The protest at the Fos and Lavera oil terminals at Marseille stranded 338 crude carriers and 20 product tankers.

For more details on As union tensions ebb, slow recovery of petrochem facilities in France commences click here

Exxon Mobil reduces feed rates at ethylene unit at Beaumont, Texas

Exxon Mobil Corp. has reduced feed rates at an ethylene unit at Beaumont, Texas. As per a company filing, process streams were routed to the flare, and feed rates cut to minimize emissions for the uniit.

For more details on Exxon Mobil reduces feed rates at ethylene unit at Beaumont, Texas click here

Spot ethylene prices continues to rise in USA as feedstocks rise

The upward trend in spot ethylene prices in USA continued amid tight supplies and strengthening feedstock ethane, as per Platts. Spot ethane continued to climb, trading as high as 66 cents/gallon as, spot ethane values gain, rising by over 10 cents/gallon on strong demand, since the beginning of October.

For more details on Spot ethylene prices continues to rise in USA as feedstocks rise click here

Dow bullish on the outlook for plastics on rising demand for packaging and wire coatings

Dow, the world’s second- biggest chemical maker, said it’s “bullish” on the outlook for plastics because of rising demand for packaging and wire coatings and falling energy costs at its US plants, as per Bloomberg.

For more details on Dow bullish on the outlook for plastics on rising demand for packaging and wire coatings click here

Sasol Synfuels shut down is largest shutdown in the world

Sasol Synfuels shut down a portion of its Secunda operations for three weeks, as part of statutory requirement for petrochemical companies to shut down their equipment for inspection and repairs. Withh approximately 14,500 additional workers employed and over 150,000 activities completed, the Secunda shutdown is regarded as the biggest of its kind in the world.

For more details on Sasol Synfuels shut down is largest shutdown in the world click here

Reliance Industries posts highest quarterly profit in about three years

Reliance, posted its highest quarterly profit in nearly three years on improved refining margins and high operating rates at all manufacturing facilities. The company sees increasing output at its maiin gas fiels as key to near-term earnings growth, and expects margins to firm up in its petrochemicals business, with upside in refining margins also possible.

For more details on Reliance Industries posts highest quarterly profit in about three years click here

Braskem announces construction of a green propane plant in Brazil

Brazil’s Braskem, the largest thermoplastic resin manufacturer in the Americas, has announced construction of a green propane plant in Brazil. Operations are expected to commence in H2-2013 at an inveestment of US$100 mln.

For more details on Braskem announces construction of a green propane plant in Brazil click here

PET for cost-effective manufacturing of photovoltaic module frames and components for solar applications

DuPont Performance Polymers has augmented its portfolio of thermoplastic materials by introducing two specific grades of DuPont Rynite polyethylene terephtalate (PET) for solar applications. UV-resisttant DuPont Rynite PET resins are designed for cost-effective manufacturing of photovoltaic module frames and components, the company says.

For more details on PET for cost-effective manufacturing of photovoltaic module frames and components for solar applications click here

LyondellBasell reports net income of US$467 million for Q3-2010

LyondellBasell has reported a net income of US$467 mln for Q3-2010. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at US$1.23 bln (excluding a US$32 million non-cash LCM iinventory charge).

For more details on LyondellBasell reports net income of US$467 million for Q3-2010 click here

MOEA awaits environmental impact assessment to decide change of site for petrochemical park

The Ministry of Economic Affairs (MOEA) awaits the final result of an environmental impact assessment before deciding whether to change the site of the controversial Kuokuang Petrochemical Park – Taiwwan’s eighth naphtha cracker on a plot of tidal land in Changhua's Dacheng area.

For more details on MOEA awaits environmental impact assessment to decide change of site for petrochemical park click here

Reliance to invest upto US$4.5 bln in three US shale gas

India's Reliance Industries plans a total spending on the three US shale gas projects of about US$4-4.5
billion by 2014. The company is in no hurry to forge more such partnerships for now. The spennding will start ramping up in 2011 and hit a plateau in 2013/14 when RIL would have between the three partnerships drilling of about 500-600 wells per year.

For more details on Reliance to invest upto US$4.5 bln in three US shale gas click here

Middle Eastern producers lift November prices to the Mediterranean

In Turkey, a major Middle Eastern producer’s November offers moved up by US$40-50/ton for PP raffia and fibre on CPT basis from early October levels, as per Chemorbis. Meanwhile, another regional prodducer issued US$30-50/ton increases on raffia offers and lifted fibre offers by US$50-60/ton.

For more details on Middle Eastern producers lift November prices to the Mediterranean click here

Speculations rife of credit-easing by US Federal Reserve, dollar weakens, oil rises

Oil for December delivery rose to US$81.96 on the Nymex while Brent crude for December settlement rose to US$83.36 a barrel on the London-based ICE Futures Europe exchange. Speculations of another rouund of credit-easing measures by the US Federal Reserve to help spur growth in the country has pushed oil prices up, and pulled the dollar down.

For more details on Speculations rife of credit-easing by US Federal Reserve, dollar weakens, oil rises click here

Naphtha sale offer expected from Abu Dhabi's ADNOC

Abu Dhabi National Oil Co. (ADNOC) may offer naphtha to buyers in Asia for delivery from January through December 2011 as per Bloomberg. This may be several dollars more than the price agreed by Kuwaiit for December-November 2011 delivery.

For more details on Naphtha sale offer expected from Abu Dhabi's ADNOC click here

Naphtha prices in Asia recover, cracks rebound

Robust industry demand has led Asian naphtha prices to recover to a three-session high midweek, while cracks rebounded from a near two-week low to reach their highest in a week, as per Reuters. Amid aample supplies, sentiments have been boosted as South Korea's Honam Petrochemical and Samsung Total, and Japan’s Exxon and Tosoh seek cargoes for December.

For more details on Naphtha prices in Asia recover, cracks rebound click here

Converted flexible packaging demand falls 3% in value in Europe in 2009

Europe’s converted flexible packaging market declined by 3% in value terms to around €10.4bn in 2009, equivalent to 44.2 billion m² of materials, according to a report by PCI Films Consulting.
The ddecline in sales value was primarily associated with the fall in raw material costs, especially in the first half of the year, which was reflected in lower prices to customers.

For more details on Converted flexible packaging demand falls 3% in value in Europe in 2009 click here

Program on latest trends in packaging, materials, innovations, applications in various sectors

The Indian Institute of Packaging successfully concluded the two weeks Global Residential Training Program on Packaging Technology. The main objective of this training program was to disseminate inforrmation about the latest trends in packaging, packaging materials, its innovations and their applications in various sectors.

For more details on Program on latest trends in packaging, materials, innovations, applications in various sectors click here

Bioplastics compounding and processing

Biodegradable plastics are established in the marketplace as alternative materials. Compounding and processing technology is developing so that these relatively new polymers can be used in a wider rannge of applications.

For more details on Bioplastics compounding and processing click here

Domestic, import PVC prices moving lower in India

Players in India report that PVC offers in the import and domestic market are moving lower this week owing to lackluster buying interest from converters, as per Chemorbis. Converters are expecting to see some additional price declines in the days ahead as their customers because of sufficient end product stocks with the customer, who are showing little interest in making new purchases at the present.

For more details on Domestic, import PVC prices moving lower in India click here

Dairen to keep VAM plants at 70% rates on ethylene feedstock shortage from Formosa

Despite attractive VAM prices, Taiwan's Dairen Chemical will run its vinyl acetate monomer (VAM) plants in Mailiao at an average of 70% during November. These run rates are unchanged from October due to a continuing shortage of ethylene feedstock and, as per Platts.

For more details on Dairen to keep VAM plants at 70% rates on ethylene feedstock shortage from Formosa click here

Reboundc in US propylene inventories after recent fall to 13 month lows

After plunging to a 13 month low last week, US propylene stocks posted slight rebounds this week, as per Platts. Propylene inventories gained roughly 11,000 barrels to close at 2.122 mln barrels for tthe week ending October 22, according to data released by the Energy Information Administration.

For more details on Rebound in US propylene inventories after recent fall to 13 month lows click here