Honam Petrochemicals plans maintenance turnaround at Yeosu PP plant in March 2012

Honam Petrochemicals has planned to undertake maintenance turnaround of its 400,000 tpa Yeosu Polypropylene (PP) plant in March 2012 for a period of 30 days.


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Indian Oil Corp sells 100,000 tons of January naphtha from Dahej and Kandla

Indian Oil Corp (IOC) has sold a total of 100,000 tons of January naphtha from Dahej and Kandla. IOC sold 30,000 tons of naphtha for Jan. 24-26 loading from Kandla to Total at premiums of about US$15//ton to its own price formula on a free-on-board (FOB) basis, as per Reuters.

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Maintenance planned at Mitsubishi Chemicals propylene plant No 1 currently running at low rates

Mitsubishi Chemicals which has been running its 170,000 tpa propylene plant No-1 at low capacity rates has decided to undertake maintenance shutdown of the plant. “We will undertake maintenance shutdoown of our Kashima propylene plant No-1, which has been running at low capacity rates, due to a slowdown in demand, a Mitsubishi official told fibre2fashion.

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Lavan Island to become Iran’s third major petrochemical hub

Lavan Island in south Iran seems poised to become the country's third major petrochemical hub upon conclusion of contract for the development of the giant Lavan gas field within the next 54 months. Naational Iranian Offshore Oil Company (NIOOC) has inked a US$6 bln deal with a domestic corporation, Sepehr Energy, to develop the Lavan gas field and build a petrochemical complex in the island as well.

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Middle Eastern PP prices for January soften in Asia and Egypt

Middle Eastern PP offers for January have dipped from December levels in Asia and Egypt in line with sluggish buying interest and the approaching Chinese New Year holiday during the last week of Januaary, as per ChemOrbis.

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Stronger spot prices and stable-to-weaker feedstocks prop US ethylene margins

Another modest rise was seen in US ethylene margins week on week, on the back of stronger spot prices and stable-to-weaker feedstocks, as per Platts. Ethane-based ethylene margins were estimated at 177.

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Siemens to supply compressor trains to the biggest propylene plant in the world

Compressor trains will be supplied by Siemens to China for the biggest propylene plant in the world. Each compressor train is capable of compressing 700,000 m3 of air to 2.4 bar each hour. This flow rrate is the highest provided by an axial-flow compressor globally.

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Spot propylene rises in Europe, falls in Asia

Spot propylene prices moved higher in Europe over the past week in line with firmer spot naphtha prices, while slow demand pulled down spot prices in the Asian market. Spot propylene prices were steaddy in the US on year end muted trading activity.

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Kumho Petrochemical drive company to sell stake in Kumho Asiana

Creditors of Korea Kumho Petrochemical Co. are bearing down the company to sell its stake in Asiana Airlines Inc., a major affiliate of Kumho Asiana Group, to separate the petrochemical firm from the group, as per Yonhap.

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Polystyrene markets in Europe and Asia supported by costs

Polystyrene markets in Europe and Asia are supported by higher upstream costs despite globally sluggish overall PS demand at the end of 2011, as per ChemOrbis. Climbing costs of production are causingg producers to raise prices.

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New state-of-the-art pilot facility at Mt. Vernon to streamline polymer research and product development

SABIC’s Innovative Plastics business has inaugurated a new, state-of-the-art pilot facility that will allow chemistry and process development for its high performance polymers (HPP) – Ultem*, Siltem* and Extem* resins – product line.

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Oil prices end last week on a higher note amid supply concerns and stronger data from USA

Rising for the fifth consecutive day, February crude oil prices have risen to US$99.6, while Brent February settled at US$107.9. Oil ended last week on a higher note on concerns about potential supplyy disruptions in Iran and Iraq and recent signs of a strengthening US economy.

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Mitsui Chemicals, Sinopec ink agreement to establish an EPT joint venture

Japan’s Mitsui Chemicals Inc. and China Petroleum & Chemical Corp. (Sinopec) have signed an agreement to establish a joint venture (JV) company for the production and distribution of ethylene-propylenne-diene terpolymer (EPT), as per Japan Corporate News NetWork.

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Petronas in talks with oil majors to develop petrochem plants at its US$20 bln refinery complex

Petronas is considering development of petrochemical plants within its US$20 bln refinery complex in the south of Malaysia, for which it is in talks with several major oil companies, including Shell aand Exxon Mobil Japan's Itochu Corp and Mitsubishi, as well as Dow Chemical Company, as per Reuters.

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Samsung Total to invest US$1.4 bln in a paraxylene plant at Daesan

The board of directors of Samsung Total Petrochemicals has approved an investment outlay of Won 1.66 trillion (US$1.44 bln) to build a new 1 mln tpa paraxylene plant at its Daesan complex, as per Plattts.

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Sibur mulls new petrochemical hub in western Siberia

Russian chemical giant Sibur is considering plans to build a new 1.5 mln tpa ethylene plant and a 2 mln tpa polymer plant in Tobolsk, western Siberia, as per plasteurope.com. This project is subject to approvals from Sibur’s board of directors, a final decision for which will be taken in 2012.

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US polymer import costs likely to increase on higher cost of shipping from Asia to USA

With effect from January 1, 2012, container prices for shipping polymers from Asia to the US West Coast are set to increase by US$350/container, as per Platts. This will result in a hike in polymer immport prices.

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Firmer ethylene costs provide a floor for LLDPE prices in Asia

Last week in Asia, import LLDPE film prices showed some signs of stabilizing after several consecutive weeks of declining prices, as per ChemOrbis. Sources attributed the stability in LLDPE film costts to firmer spot ethylene prices.

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New technologically advanced compostable resin grades with improved properties for bioplastics market

Cereplast Inc., a leading manufacturer of proprietary biobased, compostable and sustainable plastics, has announced that their three new resin grades, Compostable 3002, Compostable 3010, and Compostabble 3020, have received DIN CERTCO certifications of compostability.

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Pilot plant to produce bio-based adipic acid for renewable ‘green' nylon

First pilot plant to produce adipic acid, a key component of nylon 6,6 has been unveiled by Verdezyne, Inc., a privately held industrial biotechnology company focused on producing renewable chemicals and fuels from non-petroleum sources.

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Honam Petrochem plans 45 day annual turnaround of Yeosu aromatics plant

Honam Petrochemical plans to shut its aromatics plant at Yeosu for a 45 day annual turnaround from March 1 to April 15 in 2012, as per Platts. Plant capacity comprises 180,000 tpa of benzene, 80,000 ttpa of toluene and 50,000 tpa of solvent-MX.

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Braskem to focus on domestic projects in 2012

Braskem- Brazil’s petrochemical major plans to focus on investments in Brazil in 2012, planning to spend around US$5 bln on new production capacities in the country, the CEO told local paper Valor Ecoonômico.

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New polyurethane foam technology enables direct production of very high air flow foams

Bayer MaterialScience LLC flexes its innovative muscle with a new polyurethane foam technology that enables the direct production of very high air flow foams comparable to those achieved through curreent processes.

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Naphtha prices in Asia reach two week highs

Naphtha prices in Asia reached its highest in about two weeks on Thursday, while physical timespreads hit the highest level in about 7-1/2 months driven by tighter supplies and healthy South Korean deemand, as per Reuters.

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List of planned maintenance turnarounds at naphtha crackers in Asia for 2012

- The following lists planned maintenance turnarounds naphtha and gas crackers in Asia for 2012, as per Reuters.

NONE = no t/a in 2012
NA = no information available yet
T/A = turnaround


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Tasnee, Sahara sign SR5.25 bln financing deal with Saudi banks to support 3 JV petchem projects

The National Industrialization Co. (Tasnee) and Sahara Petrochemical Co. have inked a SR5.25 bln financing deal with 9 Saudi banks to support three petrochem joint venture projects: Saudi Acrylic Acidd Co.

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Self-healing polymer materials and conductive systems

Engineers of University of Illinois have invented a self-developing system that repairs electrical conductivity to a cracked circuit. Professor Scott White of aerospace engineering and Professor Nancyy Sottos of materials science and engineering had organized and led the study.

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PVC prices hold steady amidst buying interest in Turkey

In Turkey, both import and local PVC markets have been on a stable note, defying generally soft sentiment in other polymer markets due to year end, as per ChemOrbis. The main reason behind the active market scene has been brisk buying interest especially during last week.

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Westlake to hike capacity of chlor-alkali plant to be located at Geismar vinyls complex

Westlake Chemical Corporation plans to increase capacity of the previously announced chlor-alkali plant to be located at its vinyls manufacturing complex in Geismar , Louisiana. The chlor-alkali unit originally estimated to produce 250,000 electrochemical units (ECU's) annually will now be designed for a capacity of up to 350,000 ECU's annually.

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Purnendu Chatterjee to approach Vedanta Group to bail out in Haldia Petrochemicals imbroglio

Purnendu Chatterjee, promoter-investor in Haldia Petrochemicals Ltd (HPL) is believed to have approached Mr Agarwal, who owns the US$12 bln mining and metals Vedanta group, to bail him out of the Halddia Petrochemicals imbroglio, as per telegraphindia.

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Profits of GCC petrochem firms rise 62.4% in Q3-2011

Earnings of GCC (Gulf Cooperation Council) petrochemical companies increased 62.4% yoy to US$3.57 bln in Q3-2011, vs US$2.19 bln in Q3-2012, the Kuwait-based Global Investment House (Global) said in iits GCC Petrochemical Sector quarterly report.

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Total subsidiary buys out ExxonMobil’s 35% stake at Fina Antwerp Olefins

TOTAL through its 100% affiliate PetroFina S.A., signed today an agreement with ExxonMobil Petroleum & Chemical BVBA under which ExxonMobil is to transfer to Total its 35% shareholder interest in Finaa Antwerp Olefins.

For more details on Total subsidiary buys out ExxonMobil’s 35% stake at Fina Antwerp Olefins click here

Two dollar spike in crude prices pulls down naphtha margins in Asia

Naphtha margins in Asia have taken a hit as crude prices jumped by over two dollars a barrel on Wednesday. Cracks for the H1-February fell by over 8 dollars to US $110.48/ton, as per Reuters. The dip is in line with a drastic fall in European naphtha cracks on Tuesday.

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Oman’s Octal Petrochemicals plans an expansion of over US$200 mln

Oman’s PET producer and sheet extruder Octal Petrochemicals is planning an expansion at an outlay of over US$200 mln. Capacity will be increased at its Salalah, Oman, production plant by June 2012. Twwo more reactors and will be added in the expansion Octal has 880 mln lbs of PET capacity of which 770 mln lbs can be used for on-site sheet production.

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GSFC to invest Rs7,000 to set up integrated fertiliser and petrochemicals complex at Dahej

Gujarat State Fertiliser Corporation (GSFC) is setting up an integrated fertiliser and petrochemicals complex at Dahej, Gujarat, at an investment of Rs7,000 crore with an aim to consolidate its positiion in specialty chemicals.

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Oil prices rise above US$95 on gains in global stock markets, in anticipation of improved US economic data

Crude on the Nymex rose to US$95.3 , while in London, Brent crude rose by almost two dollars to US$105.4 on the ICE Futures exchange. The increase has been triggered by gains in global stock markets AAsian and European stock markets as concerns eased that the death of North Korean leader could spark political turmoil.

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Naphtha discounts to Brent crude continue to shrink in Asia

Naphtha discounts to Brent crude in Asia continued to shrink to US$6.27 on reduced output from refineries, which cut run rates in December and January, as per Reuters. Refiners in Singapore and South Korea have reduced run rates for December due to poor refinery margins.

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Bengal Govt to auction HPL shares, TCG can match best offer before deal conclusion

An auction will be conducted by the West Bengal Government for the sale of its stake in Haldia Petrochemicals. Co-promoter The Chatterjee Group (TCG) will be allowed to match the highest offer before any transaction is finalised.

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Spot ethylene prices rise in Asia, Europe, weaken in US

Over the past week, spot ethylene prices gained ground in Asia on tighter supplies and in Europe on a weaker euro resulting from the ongoing sovereign debt crisis, as per the pricing service of ChemOrrbis.

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Houston Ship Channel reopens to waterborne traffic

The Houston Ship Channel reopened to waterborne traffic late Thursday, but loading activities remained suspended due to fog, as per Dow Jones. The channel, the busiest U.S. petrochemical port and a maajor conduit for cargo entering and leaving the Gulf of Mexico, has been intermittently opening and closing since Tuesday, when a collision between two vessels caused a partial closure.

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Continuous solid demand from China and India to drive growth of Middle East petrochem industry

Continuous solid demand from Asia, particularly China and India, and increasing European appetite for the Middle East products will drive the region’s growth and absorb output from the new capacities,, as per global management consulting firm AT Kearney.

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Naphtha cracks in Asia continue to rise as demand improves

Naphtha cracks in Asia continued to improve for the third consecutive session on persistent robust demand from South Korea and Taiwan, as per Reuters. Discounts on crack spreads for January narrowed tto US$6.

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Exports of Korean refiners touch all-time high amid soaring global demand for lighter, cleaner petrol products

Combined exports of SK Innovation, GS Caltex, S-Oil and Hyundai Oilbank has crossed 76.1 trillion won (US$64.5 bln) during the first 10 months of the year. Exports of Korea's four major refiners have reached an all-time high this year on the back of soaring global demand for their lighter, cleaner petrol products, as per The Korea Herald.

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Saudi Aramco seals term prices for Jan-Jun 2012 naphtha at premiums of US$13-20/mt

Saudi Aramco has sealed term prices with its customers for the supply of naphtha over January-June 2012, as per Platts.
It has fixed premiums for A180 naphtha from Yanbu and Ras Tanura at US$19/mt, treated naphtha from Rabigh at US$17/mt, chemical feed naphtha from Jubail at US$16.

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After Japan, South Korea seeks to avoid U.S. sanctions against Iran oil imports

USA is likely to impose new sanctions that threaten to hinder the flow of oil from Iran by shutting down payment channels for Iranian crude. If this was to occur, South Korea along with Japan could seeek a waiver, as per Reuters.

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Consultancy contract inked with PwC for privatization of Romania’s Oltchim

Romania’s Ministry of Economy has recently signed a contract with PricewaterhouseCoopers (PwC) for consultancy services in preparation and implementation process of the privatization of Romania’s petrrochemical company Oltchim Ramnicu Valcea, as per romania-insider.

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An increase in number of anti dumping cases likely as petrochem prices dip in 2012

Lowering of petrochemical prices in 2012 could see a spate of antidumping proposals initiated against petrochemical producers in the Middle East, as per Hamad Al Terkait, President and CEO of Kuwait EEquate Petrochemical Company ahead of the GPCA meet, as per Platts
2012 is likely to see strong competition between producers in the Middle East and Asia as products from newly started up plants hit the Asian markets.

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Petrochemicals production in Saudi Arabia to rise to over 100 mln tpa by 2016

Saudi Arabia’s petrochemical industry is expected to attract US$150 billion in total cumulative investments by 2016, said Prince Faisal bin Turki, an adviser to the Kingdom’s petroleum and minerals miinistry, as per gtforum.

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ABS prices firm up in China on bullish run in feedstock markets

ABS prices have been firm in China for the last couple of weeks owing to rallying butadiene and acrylonitrile (ACN) costs in Asia, as per ChemOrbis. Sellers in the import and local markets held their offers steady or issued price hikes especially in cases of limited stocks or increased supply from their suppliers, although firm levels have yet to generate greater demand due to the year-end season.

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Shell plans to expand presence in Iraq with new petrochemical projects

Already with a big presence in Iraq, Shell plans to expand in the country. Currently, it is developing the huge Majnoon oilfield near Basra. It will also gain access to vast amounts of natural gas, onne of the main feedstocks for the petrochemical industry, with a project to capture associated gas from the country's southern oilfields.

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Formosa Petrochemical likely to resume gasoil exports from H2-January

One of Asia’s biggest diesel exporters - Formosa Petrochemical Corp., is likely to resume gasoil exports from H2-January, as per a source in Reuters. 1-2 medium range-sized cargoes, or about 720,000 bbarrels of 500 ppm sulphur gasoil will comprise the company’s first exports after five months.

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Italy set to surpass Germany as world’s leading solar market this year

After two years at the top, in 2011 Germany is likely to lose its place as the world’s top photovoltaic (PV) solar market, slipping to No. 2 behind former runner-up Italy, according to an IHS iSuppli PV Market Brief report.

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Chevron Phillips plans to pursue ethane cracker and ethylene derivatives project is US Gulf Coast

Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) has completed several key elements of the feasibility study announced earlier this year and plans to pursue a project to construct a woorld-scale ethane cracker and ethylene derivatives facilities in the U.

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Ethylene production in Japan fell 11% in November 2011 from November 2012

Ethylene production in Japan fell 11% in November 2011 vs the same month a year ago, government data showed, reflecting an industry-wide move to lower naphtha cracker utilisation rates amid weakening demand for plastics in China, as per Reuters.

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Robust margins seen by ethylene, propylene producers of OECD in H1-2011, weakened in H2

In H1-2011, robust margins supported by strong demand were seen by ethylene and propylene producers in countries that comprise the Organization for Economic Cooperation and Development (OECD), as per International Energy Agency, as reported by OGJ editors.

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Shaw awarded technology license and design contract for Chevron Phillips Chemical's ethylene plant in USA

The Shaw Group Inc. has been awarded a contract by Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) to license its proprietary technology and provide a process design package for a 1.55 mln tpa grassroots ethylene plant.

For more details on Shaw awarded technology license and design contract for Chevron Phillips Chemical's ethylene plant in USA click here

Reifenhäuser reports 12% increase in sales revenues during 2010-11

Leading German manufacturer of plastics processing machines- Reifenhäuser, has reported a 12% increase in sales revenues during 2010-11 for almost all of its product groups. The number of new orders oobtained during the period rising to over 50%, a record result for the company.

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Optimum, cost-effective solutions for polymer components in photovoltaic manufacturing

The solar photovoltaics industry is now well established in many countries and starting to make inroads in others as the need to increase renewable energy sources is acknowledged. The encapsulation annd protection of the photo-active component of solar panels is critical to durability.

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PTT Global plans restart of naphtha cracker at Map Ta Phut by end December

Thailand's PTT Global Chemical aims to restart the naphtha-fed steam cracker at its I-4 complex in Map Ta Phut by end December after it was shut unexpectedly late last week, as per Platts.
The "I4-11" steam cracker, with a nameplate capacity to produce 515,000 tpa of ethylene and 250,000 tpa of propylene, was shut last week due to mechanical issues relating to the quench tower.

For more details on PTT Global plans restart of naphtha cracker at Map Ta Phut by end December click here

Italy’s premium on PVC over other Mediterranean markets narrows

Italy’s PVC market has been trading at a premium over other Mediterranean markets including Turkey and Egypt for some time. Price gap between Italy and these regions peaked in H1-November, when PVC seellers in Muslim countries were not seeing healthy demand due to the prolonged Eid holidays, as per ChemOrbis.

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Olefins supply to tighten in Asia on two major cracker turnarounds in March-April

Planned cracker turnarounds at Honam's Yeosu cracker and Yeochun NCC’s No. 2 cracker will coincide with each other. As a result, Asia's olefins and butadiene supplies are expected to tighten over Marcch-April 2012, as per Platts.

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Bio-based polypropylene to be available by end of 2013

Bio based polypropylene will be available by end of 2013. Braskem America Inc. is expanding its biopolymer portfolio with a new line of bio-based PP range targeted for the rigid and flexible packagingg markets.

For more details on Bio-based polypropylene to be available by end of 2013 click here

Robust demand from Asia to fuel Gulf petrochemical industry in 2012

The petrochemical industry in the Gulf Cooperation Council (GCC) countries is expected to continue on its growth path in 2012, global management consulting firm A.T. Kearney said in its outlook for thhe sector.

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State to offer first right of refusal to The Chatterjee Group in event of auction of its’ stake in HPL

In case of an auction of West Bengal state's 43% stake in the Rs 10,000 crore Haldia Petrochemicals Ltd (HPL), the first right of refusal will be offered to The Chatterjee Group (TCG), as per Time Of India.

For more details on State to offer first right of refusal to The Chatterjee Group in event of auction of its’ stake in HPL click here

LyondellBasell mulls US$1.5 bln spend on new plants and expansions

LyondellBasell Industries NV may spend US$1.5 bln on new plants and expansions to add as much as $1 billion a year to pretax earnings by 2016. CEO Jim Gallogly today told participants at the company’ss annual Investor Day in New York that LyondellBasell is well positioned for the future.

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Shell completes project to strengthen flexibility of polyol production at Pernis, Netherlands

Shell Chemicals has completed a project to strengthen the flexibility of its polyol production facility in Europe. A direct result of this will be an immediate increase in CASE (coatings, adhesives, ssealants and elastomers) polyol capacity from the site at Pernis in the Netherlands.

For more details on Shell completes project to strengthen flexibility of polyol production at Pernis, Netherlands click here

Westlake to invest US$40 mln to improve ethylene feedstock operations in Calvert City

With the ongoing natural gas boom in North America, Westlake Chemical Corp. plans to invest spend $40 million on improvements to its ethylene feedstock operations in Calvert City, supporting the retenntion of 380 Kentucky jobs.

For more details on Westlake to invest US$40 mln to improve ethylene feedstock operations in Calvert City click here

Elastogran Kanoo Polyurethane Systems to change name to BASF Kanoo Polyurethanes LLC

BASF plans to further strengthen its brand in the Polyurethanes business. With effect from December 1, 2011, Elastogran Kanoo Polyurethane Systems LLC will change its name to BASF Kanoo Polyurethanes LLC, as a step in this direction.

For more details on Elastogran Kanoo Polyurethane Systems to change name to BASF Kanoo Polyurethanes LLC click here

Sinopec in US$3.3 bln JV to make olefins from methanol in Henan province

Sinopec Group plans to invest US$3.3 bln (21 billion yuan) in a joint venture project in Henan province by the end of 2011 to further tap into the coal-to-chemical sector. Sinopec Group will hold a 551% stake in the methanol-to-olefins joint venture and the Henan government will hold the balance 49% to produce 1.

For more details on Sinopec in US$3.3 bln JV to make olefins from methanol in Henan province click here

Oil prices fall as supplies grow in USA

Oil prices dropped after the US Energy Information Administration reported that oil supplies increased last week by 1.3 mln barrels, and petrol supplies grew more than expected by 5.1 mln barrels for the week ended December 2.

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East-west spreads for naphtha strengthen to over 7 month high on weak Europe demand

The east-west spreads for naphtha - the differential between CFR Japan swaps and Northwest
Europe swaps, bolstered to peak to seven-month high as demand in Europe weakened, as per Reuters. December nnaphtha swaps in Asia were US$21.

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Bengal government to auction stake in Haldia Petrochemicals Ltd

The Bengal government plans to put up for auction its entire stake in Haldia Petrochemicals Ltd (HPL), as per telegraphindia.
The state government holds 67.5 crore shares in HPL, which translates innto equity holding of 43.

For more details on Bengal government to auction stake in Haldia Petrochemicals Ltd click here

EXL copolymer boosts design freedom for next-generation miniaturized photovoltaic systems

SABIC’s Innovative Plastics business announced a new, high-performance Lexan* EXL copolymer resin that addresses the fast-moving trend toward miniaturization of photovoltaic (PV) connectors and junctiion boxes.

For more details on EXL copolymer boosts design freedom for next-generation miniaturized photovoltaic systems click here

PET prices firm up on higher upstream costs in China

In China, the domestic PET market stabilized last week, while export offers also followed a steady trend supported by crude oil prices which crossed the US$100/barrel threshold, as per ChemOrbis. Chiinese PET producers raised their prices this week on the back of stronger upstream markets in the wake of high energy prices, with recent hikes leading to expectations of a stable to firmer trend in the near future.

For more details on PET prices firm up on higher upstream costs in China click here

December opens with mainly stable PP prices in Italy

After three consecutive months of decreases, local PP market in Italy has started to stabilize in December, with many European suppliers holding onto their prices this month, as per ChemOrbis. Complaiining about their narrowing margins amidst comfortable supply versus unhealthy demand, many producers had reduced their production rates over the month of November.

For more details on December opens with mainly stable PP prices in Italy click here

Total to ink contract with Egyptian Petrochemicals Holding Co for olefins unit

French energy company Total is on the verge of signing a contract with the Egyptian Petrochemicals Holding Company to establish a US$3 bln plant for the production of olefins by steam cracking of natuural gas, as per almasryalyoum.

For more details on Total to ink contract with Egyptian Petrochemicals Holding Co for olefins unit click here

Rosneft plans to build naphtha steam cracker, butadiene and benzene extraction unit in Primorsky

Lummus Technology, a CB&I company, has been awarded a contract by CJSC Vostochnaya Neftechimicheskaya (VNHK), a subsidiary of OJSC Rosneft, for the license and basic engineering of a naphtha steam craacking unit and a butadiene and benzene extraction unit for VNHK’s new petrochemical complex in Russia.

For more details on Rosneft plans to build naphtha steam cracker, butadiene and benzene extraction unit in Primorsky click here

Unexpected power cut at Ulsan affects SK Energy’s refining and petrochemical plants

An unexpected power cut in South Korea's southeastern oil and petrochemical hub of Ulsan has hit the refining and petrochemical plants of the country's largest crude refiner, SK Energy, prompting somee shutdowns, prompting some shutdowns, as per Reuters.

For more details on Unexpected power cut at Ulsan affects SK Energy’s refining and petrochemical plants click here

Biorenewable chemicals market to grow at a CAGR of 22.8% between 2010 and 2015

Increasing environmental awareness on the part of product manufacturers and the desire to reduce dependency on oil are the leading drivers behind the $2.4 billion global market for biorenewable chemiccals (BRC) in 2010.

For more details on Biorenewable chemicals market to grow at a CAGR of 22.8% between 2010 and 2015 click here

Capacity expansion program for Exolit®, third production unit added in Germany by Clariant

Clariant has announced the next stage in its on-going capacity expansion program for Exolit® OP non-halogenated flame retardants, with the addition of a third production unit at its site in Hürth-Knappsack, near Cologne, Germany.

For more details on Capacity expansion program for Exolit®, third production unit added in Germany by Clariant click here

Sasol approves feasibility study for ethylene cracker and derivatives complex at Lake Charles

South African energy and chemicals company Sasol has announced approval of a feasibility study for a world scale ethylene cracker and derivatives complex. The study is focused on opportunities at Sasool’s North America operating site in Lake Charles.

For more details on Sasol approves feasibility study for ethylene cracker and derivatives complex at Lake Charles click here

Japanese crackers cut run rates - naphtha cracks rise in Asia to highest in over 6 weeks

Naphtha cracks in Asia rose to their highest level in over 6 weeks, while backwardation widened by a dollar on hopes that a cut in cracker operating rates in Japan will tighten petrochemical supply annd improve prices, as per Reuters.

For more details on Japanese crackers cut run rates - naphtha cracks rise in Asia to highest in over 6 weeks click here

Qatar, Shell ink agreement to build US$6.4 bln petrochem plant

Qatar Petroleum and Shell have inked an agreement to build a petrochemical complex in Qatra at an investment outlay of US$6.4 bln. Qatar Petroleum will hold an 80% equity interest in the project and Shell will hold the balance 20%.

For more details on Qatar, Shell ink agreement to build US$6.4 bln petrochem plant click here

November PE demand in Brazil rises month on month

Polyethylene demand in the Brazilian domestic market was 8% higher in November from October, as per Platts.
"Historically, October is always better than November, but this year, the opposite happeneed because in September, customers bought large quantities since they were worried about the US dollar strength against the Brazilian real, making October a relatively bad month," said a source from Braskem.

For more details on November PE demand in Brazil rises month on month click here

Pakistan seeks JV with Japan for naphtha cracker

Pakistan exported a total of US$270 mln worth of naphtha to Japan in 2010. However, this naphtha was not sent directly to Japan as Pakistan lacks naphtha processing or cracking facility.
Japan importts naphtha from Pakistan via some other countries – South Korea and/or Singapore, where it is processed, as per fibre2fashion.

For more details on Pakistan seeks JV with Japan for naphtha cracker click here

Spot ethylene prices gain in Asia, fall in USA

Spot ethylene prices posted significant gains in Asia over the past week, with players citing limited supply issues as the primary factor supporting prices, as per ChemOrbis. Limited supply also pushhed up the low end of the spot range in Europe.

For more details on Spot ethylene prices gain in Asia, fall in USA click here

BASF to build ts first plant outside German for Ultrason

BASF is building its first plant outside Germany for the high-temperature polymer PESU (Ultrason). Production of the 6,000 tpa unit to be located in S Korea, will begin in early 2014. Currently, BASF produces the polymer only at its main site in Ludwigshafen.

For more details on BASF to build ts first plant outside German for Ultrason click here

Slovnaft to invest US$404 mln to increase PE capacity at Bratislava refinery in Slovakia

Slovnaft, the Slovakian unit of Hungarian oil and gas company Mol, is planning to invest €300 mln (US$404 mln) to replace a production unit at its Bratislava refinery in southwest Slovakia. The new pplant will replace seven production lines and increase PE capacity by 42,000 tons to 220,000 tpa by November 2015, as per GTForum.

For more details on Slovnaft to invest US$404 mln to increase PE capacity at Bratislava refinery in Slovakia click here

LG Chem to partner with Kazakh companies to invest in US$4.2 bln PE complex

LG Chem Ltd. plans to build a US$4.2 bln petrochemical complex in Kazakhstan with two partners, as per Bloomberg. The project will be funded by US$2.97 bln of loans and US$1.27 bln of investment by thhe venture partners.

For more details on LG Chem to partner with Kazakh companies to invest in US$4.2 bln PE complex click here

Approval granted to Neste Oil to sell Belgian petrochemical plant to Chevron Phillips

Competition authorities have approved the sale of Finland Neste Oil's polyalphaolefin (PAO) production facilities, quality control laboratory, and associated maintenance services at Beringen in Belgiuum to Chevron Phillips Chemical International NV, a wholly owned subsidiary of the American petrochemical company, Chevron Phillips Chemical Company LLC.

For more details on Approval granted to Neste Oil to sell Belgian petrochemical plant to Chevron Phillips click here

Sinopec and SK Group ink MoU on strategic cooperation, including JV on 800,000 tpa Wuhan ethylene project

China Petroleum & Chemical Corp (Sinopec) and Korea's SK Group inked a Memorandum of Understanding (MoU) on strategic cooperation, including a joint investment on an 800,000 tpa ethylene project in ceentral China, as per Reuters.

For more details on Sinopec and SK Group ink MoU on strategic cooperation, including JV on 800,000 tpa Wuhan ethylene project click here

Global markets continue to see firmer American PVC prices

Global markets including China, Turkey and Egypt continued to see firmer American PVC prices during this past week, as per ChemOrbis. Firmer upstream VCM costs in USA leading to higher export PVC pricces out of the country helped the price of American PVC cargoes to move up in global markets.

For more details on Global markets continue to see firmer American PVC prices click here

Chinese PE players weigh likely impact of Iran sanctions

Players in China’s PE markets are evaluating the likely impact of the latest round of Western sanctions on Iran as they formulate their business plans going forward, as per ChemOrbis. Most Chinese pllayers predicted that the sanctions would not have a drastic effect on their business in the short term while adding that the sanctions may introduce significant changes into the structure of China’s polymer trade going forward.

For more details on Chinese PE players weigh likely impact of Iran sanctions click here

Chinese PE players weigh likely impact of Iran sanctions

Players in China’s PE markets are evaluating the likely impact of the latest round of Western sanctions on Iran as they formulate their business plans going forward, as per ChemOrbis. Most Chinese pllayers predicted that the sanctions would not have a drastic effect on their business in the short term while adding that the sanctions may introduce significant changes into the structure of China’s polymer trade going forward.

For more details on Chinese PE players weigh likely impact of Iran sanctions click here

IRPC earmarks Bt70 bln to invest in Phoenix and other projects from 2012 to 2016

IRPC has earmarked Bt70 billion to invest in its Phoenix, non-Phoenix and maintenance projects from 2012 to 2016, with revenue contribution from the Phoenix projects targeted to double to 60% from aboout 30% currently.

For more details on IRPC earmarks Bt70 bln to invest in Phoenix and other projects from 2012 to 2016 click here

Kumho Asiana Group set to complete legal separation from Kumho Petrochemical Group

Kumho Asiana Group, led by chairman Park Sam-koo, is set to complete on Wednesday its legal separation from Kumho Petrochemical Group headed by his brother Chan-koo. As per heraldm.com, Kumho Asiana GGroup, with Kumho Industrial, Asiana Airlines, Kumho Tire and others under its wing, will now be a separate conglomerate from Kumho Petrochemical Group, consisting of Kumho Petrochemical, Kumho Mitsui Chemicals and Kumho Polychem.

For more details on Kumho Asiana Group set to complete legal separation from Kumho Petrochemical Group click here

Mixing carbon nanotubes with polymer can boost their bactericidal action in thin films

Carbon nanotubes can kill bacteria and prevent the formation of virulent and corrosive biofilms, probably by puncturing the microbes’ cell walls. As a result, scientists think the nanomaterials could produce antimicrobial coatings for surgical equipment and industrial piping, as per PRW.

For more details on Mixing carbon nanotubes with polymer can boost their bactericidal action in thin films click here

Sasol mulls US$4.5 bln ethane cracker based on natural gas in Louisiana

Sasol Ltd plans to invest US$4.5 bln to build a plant usin low-cost natural gas to make ethylene and related chemicals in Louisiana. The board of directors has approved a feasibility study on a possibble ethane cracker and ethylene derivatives complex in Lake Charles.

For more details on Sasol mulls US$4.5 bln ethane cracker based on natural gas in Louisiana click here

Domestic PVC markets firm up in Southeast Asia

At the onset of December, new PVC offers and sell ideas start to emerge with increases in Southeast Asia's domestic markets, as per ChemOrbis. Regional producers have either issued price hikes or exprressed hike targets for the new month, citing VCM shortage in the region as the main reason, amid support from relatively better demand for their targets.

For more details on Domestic PVC markets firm up in Southeast Asia click here

Honeywell's UOP selected to provide technology for propylene production in China

UOP LLC, a Honeywell company has been selected by Zhejiang Shaoxing Sanjin Petrochemical Co., Ltd. to provide key technology to produce propylene in China. The new propane dehydrogenation unit will usse Honeywell's UOP C3 Oleflex process technology to produce 450,000 tpa of propylene.

For more details on Honeywell's UOP selected to provide technology for propylene production in China click here

Haldia seeks to avoid falling into Board for Industrial and Financial Reconstruction fold

Haldia Petrochemicals is working out an action plan to avoid falling into the BIFR (Board for Industrial and Financial Reconstruction) fold, as per the Hindu. Since a 50% erosion in peak net worth willl push the company into BIFR, HPL is striving hard to check the loss-making trend.

For more details on Haldia seeks to avoid falling into Board for Industrial and Financial Reconstruction fold click here

Sasol in talks to potentially divest from its operations in Iran

South African petrochemicals group Sasol has entered into talks to potentially divest its stake in Arya Sasol Polymers Company in Iran, a move already flagged in October, as per Reuters. Sasol has a 550% stake in Arya Sasol in joint venture with Pars Petrochemical Company of Iran.

For more details on Sasol in talks to potentially divest from its operations in Iran click here

Naphtha in Asia rises to 2 week high, cracks at 5 week high, on increased buying from South Korea

As buying from South Korea increases, naphtha prices in Asia rose to a two-week high on Wednesday while cracks hovered at their highest in five weeks, as per Reuters. YNCC bought up around 75,000 tonns of naphtha for H1-January arrival at Yeosu at a discount of about US$1/ton to Japan quotes on a cost-and-freight (C&F) basis.

For more details on Naphtha in Asia rises to 2 week high, cracks at 5 week high, on increased buying from South Korea click here

Rebound in US consumer confidence and escalating tensions in Iran push oil to US$100

A rebound in US consumer confidence and escalating tensions in Iran pushed oil to US$100 per barrel on the Nymex. Brent crude rose to US$109.86 a barrel in London.
Following robust retail sales over the Thanksgiving weekend, a private survey reported a rise in consumer confidence in USA this month to the highest level since July.

For more details on Rebound in US consumer confidence and escalating tensions in Iran push oil to US$100 click here

Global demand for biodegradable and bio-based plastics to more than triple to over 1 mln tons in 2015

Global demand for biodegradable and bio-based plastics will more than triple to over one million metric tons in 2015, valued at US$2.9 bln as per ResearchandResearch. Bioplastics have moved past the iinitial phase of market introduction and are now experiencing robust increases in demand in virtually all parts of the world.

For more details on Global demand for biodegradable and bio-based plastics to more than triple to over 1 mln tons in 2015 click here

New techniques in flame retardant and synergist analysis

A collaboration between researchers from Albemarle Corporation, Louisiana State University (LSU), and the Center for Advanced Microstructures and Devices (CAMD) has led to innovative new methods that will increase 3-D visualization of flame retardant and synergist components using element specific X-ray tomography.

For more details on New techniques in flame retardant and synergist analysis click here

Taiwan’s CPDC plans to invest US$987 mln to build phenol plant in China's Jiangsu Province

Taiwan-based China Petrochemical Development Corp. (CPDC) plans to invest NT$30 bln (US$987 mln) to build a phenol plant in China's Jiangsu Province, as per CNA. The investment plan has been approved by the company’s board of directors and awaits approval from the authorities in Taiwan and China.

For more details on Taiwan’s CPDC plans to invest US$987 mln to build phenol plant in China's Jiangsu Province click here

Sohar Refinery expansion gains momentum

Orpic announced that three additional units will be included in the proposed Sohar Refinery Expansion Project. The new expansion supported by the Government of Oman is expected to improve product quallity and increase output by over 70%.

For more details on Sohar Refinery expansion gains momentum click here

SABIC plans to set up resin and engineering plastic compound plants in India and China

Saudi Basic Industries (SABIC) plans to set up resin and engineering plastic compound plants in India and China, as per Reuters. SABIC is the world's largest chemical producer by market value.
Sincee most of its major markets are led by China and India, the company will save on transport costs and benefit from the lower fixed production costs in China.

For more details on SABIC plans to set up resin and engineering plastic compound plants in India and China click here

Jan cargoes continue getting picked up by South Koreans: Naphtha near two-week highs

Asian naphtha prices rose to near a two-week highs on Tuesday, while timespreads and cracks were at at five-week high as South Korean buyers continued to pick up January cargoes, as per Reuters. LG Chhem and Honam Petrochemical have bought a total of atleast 75,000 tons, while Samsung Total has bought around 25,000 tons.

For more details on Jan cargoes continue getting picked up by South Koreans: Naphtha near two-week highs click here

Japan's October naphtha imports for petrochem sector fell 17% yoy

October naphtha imports for the petrochemical sector in Japan fell 17% in October 2011 vs October 2010, as per Reuters. October 2011 imports of naphtha for ethylene production amounted to 1,885,418 kiilolitres (1,290,983 tons) last month, the trade ministry said in a statement.

For more details on Japan's October naphtha imports for petrochem sector fell 17% yoy click here

Dow officially forms JV Sadara Chemical Co. in JV with Saudi Aramco

Dow Chemical Co. has officially formed its joint venture Sadara Chemical Co., with state-giant Saudi Arabian Oil Co.(Saudi Aramco), to build one of the world's largest chemicals plants in the Saudi kiingdom's Eastern Province, as per Dow Jones.

For more details on Dow officially forms JV Sadara Chemical Co. in JV with Saudi Aramco click here

Cutting-edge efficiency development in non-halogenated flame retardants for printed circuit boards

Two pioneering, low dosage non-halogenated flame retardants for epoxy resins to the electrical and electronics (E&E) industry have been unveiled by Clariant. Cutting-edge Exolit® EP 150 and EP 200, deeveloped specifically for epoxy laminates, set a new benchmark in high-efficiency halogen-free flame retardants for printed circuit boards.

For more details on Cutting-edge efficiency development in non-halogenated flame retardants for printed circuit boards click here

Total plans to invest one billion euro in petrochemical and specialty chemicals divisions

French oil giant Total SA plans to invest billions of dollars to boost its presence in Asia, Germany as per RTTNews. Francois Cornelis, Deputy CEO and Head of Total Chemicals reportedly said that overr the next few years, Total plans to invest about one billion euros each, shared equally between its petrochemical and specialty chemicals divisions.

For more details on Total plans to invest one billion euro in petrochemical and specialty chemicals divisions click here

Local PET prices stabilizing on improved demand in China

In China, local PET prices stabilized over the past week following eight consecutive weeks of falling prices, as per ChemOrbis. Players pointed to improved demand within the country and reduced volattility in the new PTA and MEG feedstock markets as the main reasons for the leveling off in prices.

For more details on Local PET prices stabilizing on improved demand in China click here

Power cut shutters YNCC’s No.3 cracker for about a week

Yeochun NCC Co Ltd (YNCC) has shut its 450,000 tpa No.3 naphtha on Sunday due to unexpected power cut, as per Reuters, and could take up to one week to restart the cracker. YNCC’s two other crackers wwith a combined capacity of 1.

For more details on Power cut shutters YNCC’s No.3 cracker for about a week click here

India’s ONGC secures higher premiums for December naphtha

Oil & Natural Gas Corp Ltd (ONGC) has sold 35,000 tons of December naphtha to Cargill at about US$11/ton above Middle East quotes on a free-on-board (FOB) basis, as per Reuters. The premium amount is higher than the US$9/ton premiums received for a November sale.

For more details on India’s ONGC secures higher premiums for December naphtha click here

Kuraray America receives approval for US$49 mln EVA capacity expansion project

Kuraray America has received approval for a US$49 mln project to increase production capacity of ethylene vinyl alcohol (EVA) copolymer resin at its facility in Pasadena, Texas. The project is expecteed to increase capacity by 8,000 tpa, bringing to 47,000 tpa.

For more details on Kuraray America receives approval for US$49 mln EVA capacity expansion project click here

WorleyParsons awarded US$200 mln contract for refinery and petrochem project in Ecuador

Australian engineering and services company WorleyParsons has been awarded a US$200 mln contract for project management consultancy at the US$12 bln Refineria del Pacifico refinery and petrochemicals project in Ecuador, as per Platts.

For more details on WorleyParsons awarded US$200 mln contract for refinery and petrochem project in Ecuador click here

PTA, polyester market balance in China key to restoring confidence

Price stability and an equilibrium between supply and demand are key to restore confidence in the Chinese purified terephthalic acid (PTA) and polyester industry, as per market participants in Platts..

For more details on PTA, polyester market balance in China key to restoring confidence click here

Mediterranean PVC markets see higher offers out of the US

Recently, several major Mediterranean markets have been seeing higher import offers for American PVC, as per ChemOrbis. This is being attributed to rising export PVC prices from the US and greater buyying interest from PVC buyers in Southeast Asia and India, following the news of Tosoh’s shutdown at its VCM plant in Japan, which has prompted speculation that VCM and PVC supply might tighten in the region.

For more details on Mediterranean PVC markets see higher offers out of the US click here

Naphtha/Gasoline cracks in Asia at highest level in the month

Naphtha cracks in Asia have peaked to their highest level in a month but weak fundamentals kept the physical timespreads at parity. Traders continue to struggle with a lack of clear direction, as futuure Chinese petrochemical demand remained unclear to most, as per Reuters.

For more details on Naphtha/Gasoline cracks in Asia at highest level in the month click here

Idemitsu Kosan plans scheduled maintenance on two naphtha crackers at Tokuyama in 2012

Idemitsu Kosan Co plans to conduct scheduled maintenance on its two naphtha crackers at its Tokuyama plant in September 2012, as per Reuters. The duration of the shutdown has not been set but it will likely be a little less than two months.

For more details on Idemitsu Kosan plans scheduled maintenance on two naphtha crackers at Tokuyama in 2012 click here

Further dip in European polyethylene contract prices follows spot prices

European polyethylene contract prices for November fell further this week as converters tried to narrow the gap between contract and spot prices, as per Platts. However, net contract prices are still higher than spot material available.

For more details on Further dip in European polyethylene contract prices follows spot prices click here

Softer domestic PP, PE prices put pressure on imports to China

Domestic PP and PE prices are tracking a softening trend inside China as the Chinese economy shows signs of cooling down, while overseas demand remains discouraging and confidence in the global econommic outlook weakens, as per ChemOrbis.

For more details on Softer domestic PP, PE prices put pressure on imports to China click here

Polyethylene imports in China fall in October, rise on year

China’s polyethylene imports rose for the year. Low density polyethylene (LDPE) witnessed the sharpest gains of 47.6%, according to data released by the Customs Service. As reported by Platts, China iimported 122,827 tons of LDPE in October, up 39,635 tons over the same period last year.

For more details on Polyethylene imports in China fall in October, rise on year click here

Shell on verge of commercializing phosgene-free feedstock link-up with polycarbonate major

Shell is on the verge of commercialising a technology for the production of diphenyl carbonate (DPC) as a feedstock for the production of polycarbonate, as per theengineer.co.uk. Over recent years, Shhell has been in talks with major manufacturers of the engineering polymer, for whom DPC offers a potential replacement to phosgene - a highly toxic feedstock precursor.

For more details on Shell on verge of commercializing phosgene-free feedstock link-up with polycarbonate major click here

SABIC’s new US based PP compounding operation opened to meet rising automotive OEM demand

SABIC’s Innovative Plastics business celebrated a major milestone with the official opening of its specialty polypropylene (PP) compounding operation at its Bay St. Louis, Mississippi manufacturing siite.

For more details on SABIC’s new US based PP compounding operation opened to meet rising automotive OEM demand click here

BP, IOC ink MOU for 50:50 JV in Gujarat

UK-based British Petroleum (BP) and Indian Oil Corporation have signed a memorandum of understanding (MOU) to set up a 50:50 joint venture for a 1 mln tpa acetic plant in Gujarat. The plant will come up with associated gassification facilities for production of synthesis gas.

For more details on BP, IOC ink MOU for 50:50 JV in Gujarat click here

ONGC sells second December loading cargo from Hazira at marginally higher premiums

Oil & Natural Gas Corp Ltd (ONGC) has sold a second cargo for December loading from Hazira at marginally higher premiums, as per Reuters. ONGC sold the 35,000 tons for Dec. 17-18 loading at premiums oof US$17-18/ton to Middle East quotes on a free-on-board (FOB) basis.

For more details on ONGC sells second December loading cargo from Hazira at marginally higher premiums click here

Chang Chun Petrochemical Group to budget NT$50 bln in massive overseas expansion

Chang Chun Petrochemical Group will budget NT$50 billion in massive overseas expansion, including setting up new plants in Singapore, Changshu, Jiangsu province and Panjin, Liaoning province, China, aas per CENS.

For more details on Chang Chun Petrochemical Group to budget NT$50 bln in massive overseas expansion click here

US sanctions unlikely to impact Iran’s petrochemical sales to Europe

The fresh sanctions on Iran’s petrochemical sector will not stop it selling to European markets but would push up global market prices and generate more export revenues, as per Fars news agency.
"(SSanctions) will certainly lead to an increase in the price of petrochemical products in the global markets and it might unwillingly be a significant contribution to our foreign exchange revenues because Iran will never lose its target markets," Deputy Oil Minister Abdolhossein Bayat told Fars.

For more details on US sanctions unlikely to impact Iran’s petrochemical sales to Europe click here

Fall in Q3-2010 petrochemical production in Taiwan

Taiwan's petrochemical production value totaled NT$462.8 billion during Q3 according to a report by Industry and Technology Intelligence Services (ITIS), under the Ministry of Economic Affairs (MOEA)..

For more details on Fall in Q3-2010 petrochemical production in Taiwan click here

Oil prices fall on Europe's persistent debt problems, weaker US economic growth, fresh sanctions against Iran

Oil prices fell hover near US$96 on Europe's persistent debt problems, weaker economic growth in USA and fresh sanctions against Iran over its nuclear program.
Benchmark crude on the Nymex for Januarry delivery dipped to US$96 after rising to US$98 in New York on Tuesday.

For more details on Oil prices fall on Europe's persistent debt problems, weaker US economic growth, fresh sanctions against Iran click here

Formosa Petrochemical plans 80% run rates in Dec-Jan at three Mailiao steam crackers

Taiwan's Formosa Petrochemical plans to operate its three naphtha-fed steam crackers at Mailiao at about 80% of their capacities in December and January, as per Platts. The runs were reduced to 80% frrom 100% at the end of October due to poor downstream derivative demand and production margins.

For more details on Formosa Petrochemical plans 80% run rates in Dec-Jan at three Mailiao steam crackers click here

Perstorp, PTT Global Chemical plan JV to serve polyurethane industry

Specialty Chemicals company Perstorp and PTT Global Chemical plan to launch a joint venture dedicated to the manufacturing and sales of aromatic (TDI) and aliphatic (IPDI, HDI & derivates) isocyanatess; serving the polyurethane industry.

For more details on Perstorp, PTT Global Chemical plan JV to serve polyurethane industry click here

Downward correction in styrene leaves European PS producers without support

The earlier gains in European spot styrene prices had caused sentiment in Italy’s PS market to firm up last week, with several European PS sellers voicing hike targets for December, as per ChemOrbis. An earlier jump of around US$150/ton (€112/ton with the recent parity) in spot styrene prices compared to the early November level had encouraged PS sellers to attempt to pull the market out of a three-month long bearish trend last week.

For more details on Downward correction in styrene leaves European PS producers without support click here

CP Chem restarting Sweeny olefins complex after power and steam outage

Restart of ChevronPhillips Chemicals’ ethylene production at its olefins complex in Sweeny, Texas, is underway. The complex was shut following a power and steam outage overnight, as per Platts. It is unclear how many crackers were in restart mode.

For more details on CP Chem restarting Sweeny olefins complex after power and steam outage click here

Naphtha price in Asia rebounds from 11 month lows, cracks surge by 22%

Naphtha price in Asia rebounded from an 11-month low to reach a two-session high on Tuesday, while cracks surged by about 22% to a three-week high, as per Reuters. However, current levels still signall a frail market, as Japanese inventories continue at a very high level.

For more details on Naphtha price in Asia rebounds from 11 month lows, cracks surge by 22% click here

Pune gets its first road made from plastic waste

The Pune Cantonment Board (PCB) recently repaired half a km of the road outside Hutchings High School by integrating plastic with tar known as polymer-modified bitumen, thus making good use of discardded plastic and preventing further damage to the environment.

For more details on Pune gets its first road made from plastic waste click here

Amerind Petroleum to relocate US refinery, to set up INR 12,000 crore refinery complex at PCPIR near Vizag

Amerind Petroleum Pvt. Ltd. has inked an MOU with the Andhra Pradesh government to establish an INR 12,000 crore refinery complex near Visakhapatnam in the PCPIR, BL reported. The company plans to rellocate an existing US refinery.

For more details on Amerind Petroleum to relocate US refinery, to set up INR 12,000 crore refinery complex at PCPIR near Vizag click here

Idemitsu Kosan naphtha cracker runs at 60% on unplanned shutdown at Tosoh

Idemitsu Kosan Co. is running its 623,000 tpa Tokuyama naphtha cracker at an operating rate of 60% after an unplanned shutdown at a customer, ICIS reported. Idemitsu supplies ethylene feedstock to Tossoh Corp.

For more details on Idemitsu Kosan naphtha cracker runs at 60% on unplanned shutdown at Tosoh click here

Strong demand propels YNCC's Q3 net profit by 79%

Yeochun Naphtha Cracking Center (YNCC)’s Q3 net profit surged 78.7% year-on-year to Won 129 bln (US$112.6 mln) due to solid demand for its products, as per Platts. YNCC is South Korea's largest produccer of ethylene.

For more details on Strong demand propels YNCC's Q3 net profit by 79% click here

Global spot VCM prices firm on plant issues in Japan, Mexico

Spot VCM prices firmed in Europe, Asia and USA over the past week as some production issues in Japan and Mexico led to greater VCM demand from Asian and Mexican buyers, spurring demand for spot VCM, aas per ChemOrbis.

For more details on Global spot VCM prices firm on plant issues in Japan, Mexico click here

New measures announced by USA, Canada, Britain to increase economic pressures against Iran

New measures have been announced by USA, Canada and Britain to increase economic pressures against Iran as international concerns grow in context to nuclear weapon development there. The Internationall Atomic Energy Agency released a report citing intelligence about Iranian efforts to develop technology needed to build nuclear weapons.

For more details on New measures announced by USA, Canada, Britain to increase economic pressures against Iran click here

Naphtha in Asia at its lowest in about 11 months

Naphtha price in Asia was at its lowest in about 11 months on weaker Brent crude, as limited spot buying interest from Japan and Taiwan continued to put pressure on cracks and timespreads, as per Reutters.

For more details on Naphtha in Asia at its lowest in about 11 months click here

Naphtha spot prices likely to remain unchanged in Asia this week

Naphtha spot prices are likely to move sideways in Asia this week amid weak demand, ample supply from Indian refiners and negative petrochemical margins, as per ICIS. Japan and Taiwan are not buying aany spot naphtha, only South Korean cracker operators s are making small purchases.

For more details on Naphtha spot prices likely to remain unchanged in Asia this week click here

Mediterranean markets see more European LDPE, lower Turkish offers

Mediterranean PE markets including Turkey and Egypt started to welcome more European LDPE offers following the Eid holiday due to the approaching holidays in Europe. The approaching holiday season in Europe contribute to the already slow demand in the region, triggered by concerns regarding the region’s debt crisis, as per ChemOrbis.

For more details on Mediterranean markets see more European LDPE, lower Turkish offers click here

Polymer exports from Thailand hampered by port congestion, production issues

Polymer exports from Thailand have been hampered by congestion of Main port at Bangkok as a result of the recent floods that hit the country, as well as production issues, as per Platts.
Bangkok's maain port has been shut after the devastating floods that hit the country in October.

For more details on Polymer exports from Thailand hampered by port congestion, production issues click here

SMA boosts thermal performance of ABS

Because XIRAN® SMA has a high glass transition temperature, it is able to significantly boost performance and value of various virgin and recycled resins, particularly acrylonitrile butadiene styrene (ABS) and polymethyl methacrylate (PMMA).

For more details on SMA boosts thermal performance of ABS click here

Shell to announce location of its much-anticipated ethane cracker in January 2012

Shell Chemicals will announce the location of its much-anticipated ethane cracker in January 2012. The company set that timeline at the Developing Unconventional Gas East Conference and Exhibition in Pittsburgh, according to a Nov.

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Construction commences on Sinopec-KPC joint petrochemical complex in Guangdong

China Petroleum & Chemical Corp (Sinopec) and Kuwait Petroleum Corp have embarked upon construction of their 59 billion yuan (US$9.3 bln) joint refining and petrochemical complex in the southern Chineese province of Guangdong, as per Reuters.

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NWE polypropylene prices continue to dip on oversupply, low demand

Contract and spot prices for polypropylene in Northwest Europe continued on their downward spiral this week, due to an inventory overhang and low demand, as per Platts.
Gross contract values for Noveember consolidated at Eur 1255-1260/mt FD NWE for homo injection and Eur1305-1310/mt for copolymers.

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Showa Denko plans maintenance at Oita naphtha cracker in March 2012

Showa Denko K.K. has plans to shutter its 200,000 tpa naphtha cracker at Oita for 45 days starting in mid or late March 2012, for planned maintenance.

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Tosoh plans maintenance shutdown at 527,000 tpa naphtha cracker for Q1-2012

Tosoh Corp plans to shut its sole 527,000 tpa naphtha cracker for scheduled maintenance for about 4 weeks from mid-March to mid-April, as per Reuters.
Its fire-hit No.2 vinyl chloride monomer plant at the Nanyo complex is under inspection from the police and the fire department.

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PVC import prices firming in SE Asia, trend yet to appear in China

Import PVC prices in Southeast Asia have firmed up over the past two weeks as prices at the lower end of the range have disappeared and producers have started to nominate their offers and sell ideas ffor December with increases from November, as per ChemOrbis.

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Titan Chemicals’ steam crackers unlikely to be shut for turnarounds in 2012

Malaysia's Titan Chemicals has decided that it will not be taking its two naphtha-fed steam crackers at Pasir Gudang down for maintenance in 2012, as per Platts.
Its No. 1 cracker, with capacity to produce 260,000 tpa ethylene and 160,000 tpa propylene, went through a 4 week maintenance shutdown from June 26-July 23 this year.

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Looming holidays dampen demand in Italy’s polymer markets

Trading activity in recent days has fallen in Italy’s polymer markets as the looming end-year holidays, imminent winter season, as well as the recent political and financial turmoil in the country dammpened demand, which had already been slow for some time due to buyers’ expectations of further price cuts, as per ChemOrbis.

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World's largest methanol supplier to shut down plant in Egypt due to political unrest

Canada's Methanex Corp, the world's largest methanol supplier, said it will shut down its plant in Egypt due to political unrest in the country, as per Reuters. The Egyptian facility started commerciaal operations in March.

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Natural gas liquid production in USA to increase over 40% by 2016

US gas plant natural gas liquids (NGL) production is expected to increase more than 40% over the next five years, as per a joint market study from BENTEK Energy and Turner, Mason & Company (TM&C). Thee increase will total approximately 950,000 b/d, with volumes reaching at least 3.

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Cabinet Committee approves revised cost estimates of Assam Gas Cracker Project

The Cabinet Committee on Economic Affairs on Wednesday approved the revised cost estimates of the Assam Gas Cracker Project to the tune of Rs 8,920 crore (on as-built-basis). The project schedule has also been revised with mechanical completion by July 2013 and commissioning by December 2013.

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Oil prices cross the 100 dollar threshold

Oil prices, that have been persistently rising for the past 6 weeks, touched the US$100 threshold, rising 30% more since early October. The price run-up has led to increasing numbers of investors to fflood back into commodities markets.

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Toray succeeds in production of the world's first fully renewable, biobased PET Fiber

Toray Industries, Inc. has succeeded in producing laboratory-scale samples of the world's first fully renewable biobased PET fiber by using fully renewable biobased PET derived from biobased paraxylenne from Gevo, Inc.

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Asahi Kasei wins SPE® Innovation Award for “Most Innovative Use of Plastics"

Asahi Kasei Plastics North America, Inc. and Penda Corp. shared the stage in Livonia, Mich. at the Society of Plastics Engineers (SPE®) Automotive Innovation Awards Gala with Chrysler Group LLC, winniing the "Most Innovative Use of Plastics" award in the Body Exterior category for the Dodge RamBox® assembly.

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Sumitomo Chemical plans to skip 2012 cracker turnaround

Sumitomo Chemical Co plans to skip maintenance work at its sole naphtha cracker in 2012, as per Reuters. It has lowered the cracker's utilisation rate to around 90% this month due to weakening ethylenne demand in Asia.

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Weak demand from China, increased imports keeps ethylene output down in Japan

Lackluster demand from China has impacted ethylene output in Japan, as producers reduce run rates to cope with the weak markets. Overall, the industry's utilization rate for ethylene plants has likelyy sank below 90% in October.

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Marubeni mulls building a petrochemical complex with Gazprom in Russia

Marubeni plans to build a large petrochemical complex with Russia’s Gazprom in the Russian city of Nakhodka, Primorsky Krai, according to local media reports. Japan’s Marubeni is one of Asian's largesst general trading companies, while Gazprom is the world's largest producer of gas.

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Import PP prices in Asia firming on higher costs

After a prolonged period of steady price decreases mainly due to lackluster buying interest, import PP prices in Asia have started to firm up, as per ChemOrbis. Higher crude oil and spot propylene priices pushed import PP prices up on the lower end of the overall import range in China this week.

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Damietta locals to continue protest : demand shutdown of MOPCO petrochem plant

After a six-day strike across the governorate, Damietta locals vow to continue their sit-in against MOPCO petrochemicals company despite a decree by the Supreme Council of the Armed Forces (SCAF) to sshut down the plant, as per the dailynewsegypt.

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Honam Petrochemicals buys H2 December naphtha at 4 month lows

Honam Petrochemical has concluded purchase of H2-December naphtha at about minus US$3/ton to Japan quotes on a cost-and-freight (C&F) basis to Daesan, lowest price paid in South Korea in about four moonths, as per Reuters.

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Naphtha cracks in Asia drop to 34 month lows

As a reflection of the persistently weak market, naphtha prices in Asia fell to 1-1/2 week lows, while cracks hovered at a 34 month low with physical time spreads in discount, as per Reuters.
Honam PPetrochemical purchased around 50,000 tons of open-spec naphtha for H2-December arrival at Daesan at a discount of about US$3/ton to Japan quotes on a cost-and-freight (C&F) basis, making this the lowest price paid in South Korea in about four months.

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Q3 operating profit of South Korean refiners’ petrochemicals segment sky rockets

GS Caltex’s operating profit of its petrochemicals segment soared 125.3% year on year to Won 199.9 bln (US$177.7 mln) in Q3-2011, from Won 88.7 bln a year ago, as per Platts. GS Caltex, South Korea's second-largest oil refiner, attributes the profit to strong demand for its petrochemical products.

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2012 : a challenging year for Taiwan’s petrochemical industry

2012 will be a challenging year for Taiwan’s petrochemical industry amid rising crude oil prices, the macroeconomic slump and increased production capacity from rivals in China and the Middle East, ass per a market researcher in Taipeitimes.

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PC films for secure ID cards to guard against identity theft, damage, premature replacement

Two new breakthrough Lexan* polycarbonate (PC) film technologies for identification (ID) cards that help simplify integration of additional security features needed to combat identity theft and counteerfeiting have been introduced by SABIC’s Innovative Plastics business.

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Tosoh shuts all monomer plants after fire at No.2 VCM plant

Tosoh Corp has shut three vinyl chloride monomer plants at its Nanyo complex in Yamaguchi prefecture, after a fire at its No 2 VCM plant, as per Reuters. The fire lasted for around a day in which a maale employee is missing.

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Benalec to secure first offtaker for proposed petroleum and petrochemical hub in Malaysia

Benalec Holdings Bhd is likely to secure its first offtaker for its proposed petroleum and petrochemical hub and maritime industrial park, as per the star.com.my. Benalec is likely to undertake a privvate placement to fund its reclamation contracts for developing the park.

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Dow to restart two olefin units at St. Charles

A plant shut down in 2009 by Dow and scheduled for demolition is on its way to get reopened by end-2012. Dow has refurbished the facility that involves a restart of two olefin units operated by Dow Stt.

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