Complete restart of YNCC’s cracker expected toward end of week

Complete restart of YNCC’s naphtha cracker is expected toward end of week- or Thursday at the earliest. YNCC has started feeding naphtha for the largest of its three naphtha crackers after a brief shuutdown due to a technical glitch, as per Reuters.

For more details on Complete restart of YNCC’s cracker expected toward end of week click here

European Commission speeds regulatory approval of Ineos’ takeover of PS, EPS JV operated with Nova

The European Commission has fast-tracked regulatory approval of UK-based Ineos’ planned takeover of a polystyrene and expanded polystyrene joint venture operated with Canada’s Nova since 2005, as per prw.

For more details on European Commission speeds regulatory approval of Ineos’ takeover of PS, EPS JV operated with Nova click here

Lotte Group mulls US$5 bln investment in petrochemicals in Indonesia

South Korea's Lotte Group is considering a US$5 bln investment in petrochemicals in Indonesia’s Java island, as per Reuters. Lotte currently owns two petrochemical production facilities in Indonesia tthrough Titan Chemicals, that Lotte acquired last year via unit Honam Petrochemical.

For more details on Lotte Group mulls US$5 bln investment in petrochemicals in Indonesia click here

Sharp hike in US benzene prices follows escalating crude prices

Benzene prices in USA witnessed a sharp hike as crude oil values escalated in line with monting tensions in Libya, as per Platts. Benzene price was approaching record highs set in August 2008- March bbenzene was heard bid at 447 cents/gal FOB USG, with offers at 465 cents/gal FOB USG.

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Brent crude hovers below US$108

Brent crude traded at US$107.6 supported by concerns that the revolt in Libya is likely to spread in more nations of the Middle East, likely to cross US$110 if the turmoil in the Middle East continuess, as per Bloomberg.

For more details on Brent crude hovers below US$108 click here

Naphtha prices in Asia at over two year highs in line with robust Brent crude

Open spec naphtha for front-month H1-April spiked by over 30 dollars to US$927/ton in line with robust Brent crude values. This is the highest level that Asian naphtha has peaked to since Sept. 4 20088 at US$946/ton.

For more details on Naphtha prices in Asia at over two year highs in line with robust Brent crude click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 21, 2011

CRUDE OIL
New York's main contract, light sweet crude for delivery in March rose by over a dollar to US$87.3 in the week of February 21, 2011, while Brentt crude crossed US$103 on concerns fuelled by rising tensions in Libya.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 21, 2011 click here

Volatility continues in NGL, downstream petrochemicals markets after fire at Enterprise Products

Price volatility continues in the NGL and downstream petrochemical markets after an explosion that occurred on February 8 forced a shutdown at Enterprise Product Partners' Mont Belvieu West Storage faacility, as per Platts.

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LyondellBasell plans restart of olefins unit at La Porte chemical plant in Texas

LyondellBasell Industries NV planned the restart of its olefins unit at the La Porte chemical plant, Texas, as per Bloomberg. The unit encountered an unrelated issue while increasing operating rates aand had to be temporarily shut down.

For more details on LyondellBasell plans restart of olefins unit at La Porte chemical plant in Texas click here

KPC seals contract for April 2011-March 2012 naphtha at premiums of US$18/ton

Kuwait Petroleum Corp (KPC) has sealed a naphtha contract for April 2011 to March 2012 with at least one Asian customer at premiums of about US$18/ton to Middle East quotes on a free-on-board (FOB) baasis, after a week of discussion in Singapore, as per Reuters.

For more details on KPC seals contract for April 2011-March 2012 naphtha at premiums of US$18/ton click here

No buyer acceptances for April 2011-March 2012 naphtha for Middle Eastern naphtha

Naphtha buyers in term talks with Abu Dhabi National Oil Company (ADNOC) and Kuwait Petroleum Corporation (KPC) are locked in a standoff over what they deem to be high premiums for the supply of naphttha over the April 2011-March 2012 cycle, as per Platts.

For more details on No buyer acceptances for April 2011-March 2012 naphtha for Middle Eastern naphtha click here

Japan's naphtha imports for petrochemical rise 4% in January 2011 yoy

Japan's naphtha imports for the petrochemical sector rose 4% in January 2011 vs January 2011 as per Reuters. Imports of naphtha for ethylene production amounted to 2,209,789 kilolitres (1,533,498 tonss) last month, the Ministry of Economy, Trade and Industry said.

For more details on Japan's naphtha imports for petrochemical rise 4% in January 2011 yoy click here

Iran's petrochemical capacity to cross 95 mln tpa by end of Fifth development plan in 2016

With the implementation of Bushehr and Marjan petrochemical complexes construction projects Iran's petrochemical production capacity will cross 95 mln tpa by the end of the fifth development plan (20011-2016), Shana news agency reported quoting Iranian minister of petroleum Seyed Masoud Mirkazemi.

For more details on Iran's petrochemical capacity to cross 95 mln tpa by end of Fifth development plan in 2016 click here

Clariant bidding to acquire Süd-Chemie AG

Clariant is bidding to acquire Süd-Chemie AG in a €2 bln (US$2.67 bln) deal with a particular interest in the German chemical company's catalyst and adsorbents businesses, as per Plasticstoday.com. IIn a presentation to analysts, Clariant called the catalyst and adsorbent units "attractive, high margin businesses" that provide "future technologies with high long-term growth potential.

For more details on Clariant bidding to acquire Süd-Chemie AG click here

BP to increase production capacity of purified terephthalic acid in Guangdong Province

BP Plc is to increase production capacity of purified terephthalic acid (PTA) in China’s Guangdong Province to about 1.7 mln tpa fom the current 1.5 mln tpa. The expansion is expected to be fully operrational in Q1-2012.

For more details on BP to increase production capacity of purified terephthalic acid in Guangdong Province click here

Naphtha prices climb, cracks near 5 month lows in Asia

Asia's naphtha price climbed to a two-session high from a two-session low the previous day, but cracks remained depressed, nearing a five-month low on weak fundamentals, as per Reuters. Gulf supplierss Kuwait Petroleum Corp (KPC) and ADNOC persevere with their talks with buyers, as both sides remain entrenched in their own price ideas.

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Royal DSM N.V to acquire majority shareholding in Chinese UHMWPE fiber maker

Royal DSM N.V., the global Life Sciences and Materials Sciences company has signed an agreement to acquire majority shareholding in Shandong ICD High Performance Fibre Co Ltd. ("ICD"), based in Laiwu,, Shandong province, China.

For more details on Royal DSM N.V to acquire majority shareholding in Chinese UHMWPE fiber maker click here

India to host its first International Conference on Sustainable Development of Plastics

A majority of trends witnessed by the global plastics industry in the recent past are focused towards sustainability and green development. These trends are slowly but surely shifting their focus towaards economic benefits as well.

For more details on India to host its first International Conference on Sustainable Development of Plastics click here

European Union threatens to impose tariffs against PET from Saudi Arabia and Oman

The European Union (EU) has threatened to impose tariffs against PET from Saudi Arabia and Oman, saying EU producers may be victims of subsidies and price undercutting, as per Bloomberg. The EU openedd probes into whether Saudi and Omani makers of polyethylene terephthalate (PET) get trade-distorting government aid and sell in the Euro 3 bln (US$4.

For more details on European Union threatens to impose tariffs against PET from Saudi Arabia and Oman click here

LLDPE prices losing premium over HDPE in China

LLDPE film prices in China’s import market are beginning to lose premium over HDPE film prices as per Chemorbis. For much of H2-2010, LLDPE film prices gained ground against HDPE film on comparativelyy better demand for LLDPE film combined with limited availability.

For more details on LLDPE prices losing premium over HDPE in China click here

Supply constraints propel spot ethylene prices in USA to three-month highs

Spot ethylene prices in USA peaked to a three month highs, with February volumes heard done at the 52- and 53-cent/lb levels, as per Platts. These levels were previously seen on November 10, 2010, whiile February spot ethylene was last assessed Tuesday at 49.

For more details on Supply constraints propel spot ethylene prices in USA to three-month highs click here

IOC inaugurates Panipat Naphtha Cracker Complex

Indian Oil Corporations Naphtha Cracker Complex has been inaugurated on February 15, 2011 by petroleum minister S Jaipal Reddy. The Naphtha Cracker Complex, built at a cost of Rs 14,439 crore, will prrovide significant impetus to IOC`s ambitious foray into petrochemicals.

For more details on IOC inaugurates Panipat Naphtha Cracker Complex click here

Chandra Asri’s PP, PE expansions to be complete by Q4-2011

Indonesia's Chandra Asri Petrochemical expects to conclude its polypropylene and polyethylene expansion projects in Banten, by the end of 2011, as per Platts. Chandra Asri plans to complete the debotttlenecking procedure of its existing 360,000 tpa PP plant by Q2-2011 to raise capacity to 480,000 tpa.

For more details on Chandra Asri’s PP, PE expansions to be complete by Q4-2011 click here

Reliance plans to invest US$30 bln over next five years

Reliance Industries plans to invest US$30 bln over next five years in its various businesses, mainly targetted at petrochemicals, exploration and production and telecom businesses of the corporate connglomerate.

For more details on Reliance plans to invest US$30 bln over next five years click here

Samsung Total buys 25,000 tons of naphtha for H2-March arrival

Samsung Total has bought 25,000 tons of naphtha for H2-March arrival, as per Reuters. However, premium on the deal is unclear, but is estimated at about US$4/ton or lower, given the weaker fundamentalls.

For more details on Samsung Total buys 25,000 tons of naphtha for H2-March arrival click here

Asian PVC markets indicate another bullish month

Asian PVC markets are indicating another bullish month, with March offers being revealed higher to China and Southeast Asia this week, as per Chemorbis. Higher March offers to Asia are in line with thhe pre-holiday expectations given limited supplies on the producers’ side, firm costs and the anticipation of an improvement in demand with the start of the high season for many PVC applications.

For more details on Asian PVC markets indicate another bullish month click here

Kuwait Petroleum Corp lowers naphtha offers to Asia for April 2011-March 2012

Kuwait Petroleum Corp (KPC) has lowered its offer for naphtha delivered to Asia for April 2011-March 2012, as per Bloomberg. KPC offered to sell supplies of Full-Range naphtha from April through Marchh 2012 at a premium of US$21/ton to Middle East prices of the fuel, down by a dollar.

For more details on Kuwait Petroleum Corp lowers naphtha offers to Asia for April 2011-March 2012 click here

Sibur Holding subsidiary successfully launches Russia’s first EPS plant

Sibur-Khimprom, a subsidiary of Russian petrochemicals group Sibur Holding, has successfully launched the country’s first plant to make expandable polystyrene (EPS) to international standards, as repoorted by PRW.

For more details on Sibur Holding subsidiary successfully launches Russia’s first EPS plant click here

Oil prices linger around US$85

Oil prices hovered around US$85 on investor concerns that political upheaval in the Middle East could spread and disrupt crude supplies. Benchmark crude for March delivery rose to US$85.03 on the Nymeex, and Brent crude for April delivery rose to US$103.

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Bag manufacturers in Asia reduce output on weak demand, high PE costs

Plastic bag manufacturer in Asia have reduced production rates amid weak seasonal demand and high polyethylene resin costs, as per Platts. The higher resin costs make it difficult for converters to paass on the cost to customers.

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Asia’s naphtha market favours buyers on anticipated fall in demand, arrival of abundant Western barrels

Asia’s naphtha market is currently in favour of buyers, as spot demand is expected to fall due to upcoming cracker maintenance and abundant Western barrels sail into Asia in March, as per Reuters. Honnam is shutting a 750,000 tpa cracker in Yeosu from April 1-10 for maintenance, reducing its demand by about 66,000 tons during the shutdown period, while LG Chem is shutting its 800,000 tpa cracker in Daesan from end-March for a 45-day turnaround.

For more details on Asia’s naphtha market favours buyers on anticipated fall in demand, arrival of abundant Western barrels click here

High-performance, cost-effective granulated HDPE for intermediate bulk containers

SABIC’s high-performance HDPE ICP4907S for industrial containers is now commercially available. The breakthrough high-density polyethylene (HDPE) – developed collaboratively with SCHÜTZ, a global leadding producer of industrial packaging - is designed for blow moulding of Intermediate Bulk Containers (IBC) up to 1000 litres and more.

For more details on High-performance, cost-effective granulated HDPE for intermediate bulk containers click here

Early talk of further PE hikes in March prevail in Italy

In Italy, the spot PE market has been registering increases of €50-60/ton for February business, following the €100-160/ton increases that materialized in January, as per Chemorbis. The settlement of the February ethylene contract with a €25/ton increase caused European PE sellers to seek increases for a second month in a row.

For more details on Early talk of further PE hikes in March prevail in Italy click here

Propylene demand to rise more than 20 mln tons by 2017

Ceresana Research expects a dynamic development of the global demand for propylene, namely an increase of more than 20 mln tons by 2017. An important factor, which will impact the global propylene marrket, is the massive capacity expansions for propylene and downstream products in the Middle East and China.

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By 2017, global ethylene revenue to peak to 2008 volumes, to over US$160 bln

Ethylene producers are recovering from the sharp drop witnessed in 2009. Ethylene prices already recovered during 2010, after they had declined at an average rate of 35% in 2009. By 2017, worldwide etthylene revenue will once again peak to 2008 peak volumes, at over US$160 bln, as per Ceresana Research.

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DSM Engineering Plastics and KuibyshevAzot in two joint ventures

DSM Engineering Plastics will enter into two joint ventures with KuibyshevAzot OJSC (KA). In both joint ventures DSM Engineering Plastics will hold a majority share. In addition, KA will be granted a license under DSM Fibre Intermediates’ technology for the production of cyclohexanone.

For more details on DSM Engineering Plastics and KuibyshevAzot in two joint ventures click here

Clariant completes registration under Phase One, focusing on Phase Two of REACH legislation

Lead REACH registrant Clariant is now focusing on Phase Two of REACH legislation following its successful completion of the registration of 152 substances required under Phase One by the December 1, 22010 deadline.

For more details on Clariant completes registration under Phase One, focusing on Phase Two of REACH legislation click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 14, 2011

CRUDE OIL
Volatile movement was seen in oil prices in the week of February 14, 2011. After rising through the first half of the week, oil prices ended tthe week lower.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended February 14, 2011 click here

Shaw Group awarded contract by QAPCO for expansion of ethylene plant in Mesaieed

The Shaw Group Inc. has been awarded a contract by Qatar Petrochemical Company Ltd. Q.S.C. (QAPCO) to provide basic engineering services for the expansion of a 720,000 tpa ethylene plant in Mesaieed, Qatar.

For more details on Shaw Group awarded contract by QAPCO for expansion of ethylene plant in Mesaieed click here

Uflex plans to invest US$80 mln in a new plant in Poland

In a move to meet increasing demand of customers in Europe and Russia, Uflex plans to invest US$80 mln in a 30,000 tpa plant in Wrzesnia, Poland, expected to be operational in June 2012. The investmennt will be made partly from debt and partly from internal accruals.

For more details on Uflex plans to invest US$80 mln in a new plant in Poland click here

Tetra Pak to invest US$132 mln in new packaging material plant in India

Tetra Pak, the world’s leading processing and packaging company, provider for liquid food manufacturing, today announced it will be setting up a new world-class packaging material factory in India at Chakan, near Pune in western Maharashtra, India.

For more details on Tetra Pak to invest US$132 mln in new packaging material plant in India click here

Naphtha price and cracks tumble in Asia in anticipation of lower demand as plants shut for planned maintenance

Asia's naphtha price dropped to its lowest in a week, while cracks fell to over 4 month lows, on expected drop in spot demand due to maintenance at petrochemical plants starting next month in Japan annd South Korea, as per Reuters.

For more details on Naphtha price and cracks tumble in Asia in anticipation of lower demand as plants shut for planned maintenance click here

South East Asia’s PP market tracks propylene higher

PP prices in Southeast Asia moved higher in the first week after the Chinese New Year holidays, tracking the upward movement in propylene feedstock prices, as per Chemorbis. While sellers are finding support for their price hikes from higher costs as well as limited supply, buyers have mostly remained in the sidelines, with many buyers having secured some material before the holidays in anticipation of producers attempt to raise prices post-holidays.

For more details on South East Asia’s PP market tracks propylene higher click here

ADNOC offers naphtha for April 2011-March 2012 lifting at lower premiums vs 2010-2011

Abu Dhabi National Oil Company (ADNOC) has pegged its offers for three naphtha grades for April 2011-March 2012 lifting at lower premiums as compared to offers for 2010-2011. These premium levels are likely to impact offers from Kuwait Petroleum Corp (KPC), currently holding its term talks for the same lifting period in Singapore.

For more details on ADNOC offers naphtha for April 2011-March 2012 lifting at lower premiums vs 2010-2011 click here

Global electroactive polymers product market estimated at US$2.78 bln by 2014

Technological developments in the electronics and semiconductor industries have led to the creation of polymers that change shape on the application of voltage. The biggest application for electroactiive polymers (EAPs) lies in their future use as actuators and sensors, which in turn opens up a huge spectrum of applications in the fields of electronics, healthcare, sensing, and solar energy generation, as per Research and Markets.

For more details on Global electroactive polymers product market estimated at US$2.78 bln by 2014 click here

LyondellBasell returns Channelview plant to natural gas liquids feedstock

After switching to naphtha feedstock following a Feb. 8 fire, LyondellBasell Industries has returned it’s Channelview plant in Texas to a natural gas liquids feedstock slate, as per Bloomberg. The plaant, with two olefins units, each with a capacity of 1.

For more details on LyondellBasell returns Channelview plant to natural gas liquids feedstock click here

Oil prices end the previous week at 10 week lows

Light, sweet crude for March delivery fell to US$85.5 on the Nymex, its lowest settlement since Nov. 30, 2010. Crude oil prices sank to 10 week lows in New York at the end of the previous week, on newws that Egyptian President has stepped down.

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Indian Oil Corp. sells two cargoes of naphtha to Total for loading in early March

Indian Oil Corp. (IOC) has sold two cargoes of naphtha to Total SA for loading in early March, as per ICIS. A 35,000 ton shipment to load from March 3-5 at Dahej was sold at premium of US$16.12/ton too IOC’s pricing formula, while the second cargo of 30,000 ton was sold a premium of US$14.

For more details on Indian Oil Corp. sells two cargoes of naphtha to Total for loading in early March click here

Naphtha prices in Asia dip, cracks end at their lowest in about ten days

In Asia, naphtha price dipped to a two-session low and cracks ended the previous week at their lowest in about 1-1/2 weeks, as spot demand failed to lift sentiment weighed down by impending maintenancce at petrochemical units, as per Reuters.

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China's petrochemicals trade increased by 33.8% in 2010

The total value of China's petrochemicals trade rose 33.8% year on year (yoy) to US$60.5 bln in 2010, according to statistics released by the National Development and Reform Commission, as per Platts..

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Indorama plans joint venture to construct a 400,000 tpa polyethylene plant in Uzbekistan

Indorama plans to invest over €437 mln in a joint venture project to construct a 400,000 tpa polyethylene plant in Uzbekistan with national gas company Uzbekneftegaz. The €874 mln scheme is part of a plan by the Uzbekistan government to upgrade it’s Mubarek gas processing complex by 2015.

For more details on Indorama plans joint venture to construct a 400,000 tpa polyethylene plant in Uzbekistan click here

Belarus to have new bottle grade PET polymer plant by 2015

In a move to reinforce its PET business, Mogilevkhimvolokno- a resin manufacturer from Belarus, plans to construct a new 120,000 tpa bottle grade PET polymer plant by 2015, at an outlay of €120 mln (UUS$163.

For more details on Belarus to have new bottle grade PET polymer plant by 2015 click here

One worker missing even after fire burns out at Enterprises’ Mont Belvieu plant

A fire that erupted on Tuesday at Enterprise Products Partners’ petrochemical facility in Mont Belvieu, Texas, has burned itself out, a per Pennenergy. Around Tuesday noon, a series of explosions occcurred at the natural gas liquids storage terminal at Enterprise Products Partners Mont Belvieu petrochemical plant.

For more details on One worker missing even after fire burns out at Enterprises’ Mont Belvieu plant click here

Dow Chemical opens new office in Kuwait

Dow Chemical has opened a new office in Kuwait, emphasizing the critical significance of its investments and partnerships in the country. Dow’s office in Kuwait will drive the company’s business partnnerships across the country, while working to enhance the existing partnerships, and nourish the company’s investments in the petrochemical sector which led to establishing six leading joint ventures.

For more details on Dow Chemical opens new office in Kuwait click here

SK Global Chemical aims for 35% stake in Sinopec’s Wuhan petrochemical project

South Korea's SK Innovation’s subsidiary SK Global Chemical aims to hold a 35% stake in the Wuhan petrochemical project by Asia's top refiner Sinopec Corp as per Reuters. For this, the company will bee applying for Chinese government approval for a joint venture with Sinopec for the Wuhan project within the first quarter.

For more details on SK Global Chemical aims for 35% stake in Sinopec’s Wuhan petrochemical project click here

Celanese Corp to expand capacity at Edmonton manufacturing facility

Global technology and specialty materials company and a North American leader in Ethylene Vinyl Acetate (EVA) polymers- Celanese Corporation, has announced that due to strong growth in strategic, highh-value segments, the company will expand capacity at its Edmonton manufacturing facility.

For more details on Celanese Corp to expand capacity at Edmonton manufacturing facility click here

Analysis of the New MoEF Notification dated Feb 4, 2011 S.O. 249(E)

A quick analysis of the New MoEF Notification dated Feb 4, 2011 S.O. 249(E), as per Indian Centre for Plastics in Environment (ICPE)

A. Preamble
The Law points
The original Septemberr 2, 1999 Notification had taken recourse of Section 3 and 25 of the Environment Protection Act, 1986 (deals with Municipal Solid Waste).

For more details on Analysis of the New MoEF Notification dated Feb 4, 2011 S.O. 249(E) click here

IPI Ahmedabad Chapter opens Students Chapter at LD Engineering College – Plastic Division

IPI Ahmedabad Chapter in particular and IPI are associated with the Opening of Students Chapter at LD Engineering College – Plastic Division for the very first time in India. Totally 51 students enrollled for this Student Chapter, of which 40+ students attended the inauguration.

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Accelerating demand for fuel-efficient cars could provide impetus to adoption of lightweight automotive composites

The accelerating demand for more fuel-efficient cars has raised hopes that automakers will accelerate their adoption of lightweight automotive composites. As an alternative to steel and aluminum, polyymer-based composites can lower overall vehicle weight and help reduce fuel consumption.

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PE prices track ethylene higher in SE Asia, likely to follow in China

Polyethylene prices in Southeast Asia’s local and regional markets have moved higher in the first week after the Chinese holidays, as sellers lifted their offers in response to escalating ethylene feeedstock costs, as per Chemorbis.

For more details on PE prices track ethylene higher in SE Asia, likely to follow in China click here

US PVC offers firming around the globe

American PVC offers have been tracking a firm trend in several major global markets this month including China, Turkey and Italy, as per Chemorbis. In China, after initial increases of US$50/ton for February shipment cargoes, sellers of US origin wrapped up February transactions with increases of US$30/ton before Asian players stepped out from the market for Chinese New Year holidays.

For more details on US PVC offers firming around the globe click here

Rapid increases in petrochem capacities in Saudi Arabia, mainly in commodity chemicals over the medium-term

While Saudi Arabia will be the focus of commodity chemicals expansion over the medium-term assisted by plentiful low cost domestic ethane feedstock availability, its dependence on Chinese demand and llack of diversification into high value products will remain significant weaknesses going forward, according to BMIs latest Saudi Arabia Petrochemicals Report.

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Asia’s petrochemical markets expected to come to life as Chinese markets reopen

Asia’s petrochemical markets are expected to come to life as China re-opens for trade, despite the interest rate hike that accompanied its return after a week-long holiday, as per ICIS. Effective Wednnesday, the People’s Bank of China raised its one-year deposit and lending rates by 25 basis points to 3.

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Honam Petrochemical bought 50,000 tons naphtha premium lower than previous purchase

South Korea’s Honam Petrochemical has purchased 50,000 tons naphtha at US$8-8.50/ton above Japan spot quotes on a cost-and-freight (C&F) basis, about a dollar lower than a previous purchase, as per Reeuters.

For more details on Honam Petrochemical bought 50,000 tons naphtha premium lower than previous purchase click here

One person reported to be presently unaccounted for from fire at Enterprise’s Mont Belvieu plant

One person is reported to be missing after mid-day explosion and fire that engulfed Enterprise Prosucts’ Mont Belvieu petrochemical complex near Houston, Texas, as per PennEnergy. As per company stateement, the fire occurred at the west storage facility at the Enterprise Products Partners Mont Belvieu plant.

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Some impact felt by US ethylene producers after fire at Enterprise

Major ethylene producers in the US Gulf Coast are reporting minimal-to-moderate impact on production resulting from Tuesday's fire at an Enterprise site in Mont Belvieu, Texas, as per Platts. This couuld change either way once the fire is extinguished and the extent of the damage becomes clearer.

For more details on Some impact felt by US ethylene producers after fire at Enterprise click here

PVC growth to remain anemic on sluggish recovery in construction, overcapacity, thinning operating margins

Polyvinyl chloride (PVC) constitutes the second-largest thermoplastic manufactured worldwide after polyethylene. Though the PVC market is back on its growth trajectory after experiencing collapsed demmand in several markets, overall performance is expected to remain anemic over the short term as the industry struggles to emerge from problems such as sluggish recovery in the construction sector, lingering overcapacity and thinning operating margins, as stated by the new market research report on Polyvinyl Chloride (PVC), as per Global Industry Analysts Inc.

For more details on PVC growth to remain anemic on sluggish recovery in construction, overcapacity, thinning operating margins click here

Explosion, large fire at propylene/natural gas liquids (NGL) fractionation plant at Mont Belvieu

An explosion and large fire broke out at lunchtime Tuesday afternoon at Enterprise Products Partners' propylene/natural gas liquids (NGL) fractionation plant at Mont Belvieu, Texas, located east of Hoouston.

For more details on Explosion, large fire at propylene/natural gas liquids (NGL) fractionation plant at Mont Belvieu click here

Declines in West Texas Intermediate crude, substantial rise in Brent crude

Crude oil was mixed as West Texas Intermediate crude saw marginal declines, while Brent crude prices rose substantially to US$101.9 on the ICE Futures Europe exchange in London as investors worried abbout North Sea supplies.

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IRPC’s US$100 mln investment to increase ABS capacity by 70,000 tons as part of "Phoenix" investment program

In a move a move to serve growing demand from the automotive and electronics industries, IRPC, plans to invest about US$100 mln to more than double acrylonitrile-butadiene-styrene (ABS) production cappacity.

For more details on IRPC’s US$100 mln investment to increase ABS capacity by 70,000 tons as part of "Phoenix" investment program click here

Upper end of Italy’s PP spot market sees resistance from buyers

For February, European PP sellers have come with initial hike targets of up to €60/ton for spot business as well as gentlemen’s agreements, as per Chemorbis. Sellers justified their large hike targetss by mainly pointing to the higher propylene contracts, which were settled with a monthly increase of €35/ton on top of the January hike of €110/ton.

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Starch-based plastic accounted for 90% of global consumption of biodegradable plastics in 2009

The implementation of low-carbon environmental protection initiatives has promoted the application of biodegradable plastics and boosted the emergence of biodegradable plastics industry. Starch-based plastic, PLA and PHA, accounting for 90% of the global consumption of biodegradable plastics in 2009, saw their capacity grow rapidly from 306,000 tons in 2007 to 695,000 tons in 2009, with an annual compound growth rate of 50.

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Dow starts naphtha cracker at Terneuzen

Dow Chemical Co. has restarted a naphtha cracker at its Terneuzen chemicals site in the Netherlands after a planned maintenance, as per Bloomberg. Cracker 2, with capacity to produce 580,000 tpa of etthylene was halted on January 28.

For more details on Dow starts naphtha cracker at Terneuzen click here

ESIN BV to acquire Yparex adhesive business from DSM

RESIN (Products & Technology) BV (Enschede, The Netherlands), a privately held specialty-resin compounder, is in the process of acquiring the Yparex adhesive tie-layer business of DSM Engineering Plasstics (Sittard, The Netherlands).

For more details on ESIN BV to acquire Yparex adhesive business from DSM click here

Naphtha at four-session low in Asia, weak market sentiments reflected in cracks

Naphtha cracks that had a drastic fall last week, have seen a marginal improvement. The beginning of the week saw naphtha prices dip to a four-session low while cracks ended higher than levels seen inn the previous week.

For more details on Naphtha at four-session low in Asia, weak market sentiments reflected in cracks click here

Thai PTT in talks with Socar in pursuit of plans of third crude storage offshore Malaysia

Thailand’s PTT Pcl plans to lease a supertanker from Titan Petrochemicals to store crude oil for its refineries and for trading, as per Reuters. PTT is in talks with Socar Trading, the Geneva-based trrading arm of Azerbaijan's state energy firm, to sub-lease half of the Very Large Crude Carrier (VLCC).

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Global converted flexible packaging market to reach US$70.15 bln by 2015

Global converted flexible packaging market is forecast to reach 18.78 mln metric tons in terms of volume translating into US$70.15 bln in value terms by the year 2015, propelled by rising demand from consumer goods, food and beverage industries in developing economies, as per a new Report by Global Industry Analysts, Inc.

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KPC follows ADNOC, to start annual naphtha term talks by end of week

Kuwait Petroleum Corp plans to start discussions February 14 in Singapore with its customers for the term supply of naphtha over April 2011-March 2012, as per Platts. KPC's negotiations follow UAE's AAbu Dhabi National Oil Co’s term supply naphtha talks for the same 12 month cycle in Singapore at the beginning of the week.

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Turkey is set for changes in its PET trade flow from a net importer to a net exporter

With a new investment in PET planned in Turkey, the country is set for major changes in its trade flow, reverting from a net importer to a net exporter. A new PET plant from Koksan PET and Plastic Pacckaging Industry (KOKSAN) was announced last week planned with two PET lines with a combined capacity of 432,000 tpa.

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Strike by union members at Braskem’s Kenova polypropylene plant entering sixth month

Union members at the Braskem polypropylene plant in Kenova are nearing six months on the picket lines. Formerly owned by Sunoco, the plant currently has about 35 people continuing to operate the plantt while 72 members of United Steel Workers Local 721 remain on strike.

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Fire at Bandar Imam Petrochemical Complex: one person killed and 11 injured

One person has been killed and 11 injured in a fire that broke out at the Bandar Imam Petrochemical Complex, which is located in the southern Iranian province of Khuzestan. The fire started Friday morrning at the NGL fractionation unit of the complex, which is under construction, the Mehr news agency reported.

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Kuwait Petroleum Corp to start negotiations with naphtha buyers

Largest Middle Eastern exporter of oil products to Asia - Kuwait Petroleum Corp. (KPC), is estimated to begin negotiations with naphtha buyers next week, as per Bloomberg. KPC plans to meet Asian buyyers at the end of next week or the following week to set prices for supplies for the year beginning April.

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Mitsui and Mitsubishi Rayon in JV to produce methyl methacrylate monomer

Mitsui & Co. and Mitsubishi Rayon Co. will forge an alliance in methyl methacrylate monomer, an acrylic resin compound used in LCD panel components and autoparts, the Nikkei reported. Mitsubishi Rayonn is the leading producer in the global MMA monomer market, with a 37% share, since its 2009 takeover of leading British chemical manufacturer Lucite International Ltd.

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KPPC’s first ever shipment of heavy aromatics being shipped to Asia

Kuwait Paraxylene Production Company (KPPC) has exported its first ever shipment of heavy aromatics. Heading to customers in Asia, the shipment's size is 17,000 metric tons. KPPC is a fully owned subssidiary of Kuwait Aromatics Company (KARO).

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Reliance plans maintenance at Jamanagar PP plants

Maintenance is on the cards at Relaince’s PP plants at Jamnagar, leading to a possible shutdown. Three of its 4 PP lines in Jamnagar, are planned to be shut for a little over 3 weeks, while the fourthh is to be shut for about a week.

For more details on Reliance plans maintenance at Jamanagar PP plants click here

Dow Chemical plans to continue upward momentum by investing in growth

The Dow Chemical Co. plans to continue its positive momentum by investing in growth, reducing debt and offering shareholder remuneration in 2011. Excluding certain items, earnings were 47 cents per shhare, up from 18 cents the year before.

For more details on Dow Chemical plans to continue upward momentum by investing in growth click here

PS markets feel the pressure from higher styrene costs

Styrene costs in Europe and Asia continue to exert pressure on PS markets as they retain their upward momentum, as per Chemorbis. Also, crude oil prices continue to hover near US$90/bbl, propping up sstyrene markets.

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Oil prices fall, Brent settled below US$100 for the first time in a week

In London, ICE Brent crude for March dropped to US99.83, while US crude for March delivery settled at US$89. Oil prices fell nearly 2% on Friday on a rumoured report set off speculation that Egyptian President could step down shortly, sparking profit-taking from which the market failed to recover.

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PolyOne’s Q4-10 profit quadraples with rising volumes and prices

PolyOne Corp said fourth-quarter profit rose on a 6 percent increase in volume and higher selling prices, as per Reuters. Net income was US$97.5 mln, compared with US$20.8 mln, a year earlier. Revenuee increased 12% to US$617.

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EQUATE’s net profit in 2010 rises 73% yoy

EQUATE Petrochemical Company announced a net profit of US$ 880 mln for the fiscal year ending December 31st, 2010, which is a 73% increase over what was achieved in 2009. On this occasion, EQUATE Pressident & CEO Hamad Al-Terkait said, “These profits were realized due to high efficiency in operating all production units, as well as the global rise in prices of petrochemical products, despite gas feedstock limitations facing the company’s plants.

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Signals seen for firm PVC trend into March

PVC prices indicate a firm trend in Europe, and despite slow demand in Asia due to the Chinese New Year, expectations regarding the post-holiday period remain firm, as per Chemorbis.
In Italy, Januuary PVC business has been concluded with €30-50/ton increases for spot and gentlemen’s agreement deals.

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ADNOC anticipated to begin long-term naphtha sales negotiations with buyers in Asia as early as next week

Abu Dhabi National Oil Co (ADNOC) may begin long-term naphtha sales negotiations with buyers in Asia as early as next week, as per Bloomberg.

Marketing executives from Adnoc and buyers of the fuell will start discussions in Singapore on February 7 that may culminate in an initial offer by the end of the week, for naphtha to be delivered from April through March.

For more details on ADNOC anticipated to begin long-term naphtha sales negotiations with buyers in Asia as early as next week click here

Financial aid from Formosa Petrochemical to Nanya Technology and Inotera

Formosa Petrochemical is to provide financial hand to Nanya Technology and Inotera, by way of providing one year loans of US$167.34 mln to Nanya and US$270.8 mln (NT$8.5 billion) to Inotera in a bid tto help the two memory outfits buy new equipment in their move toward 42nm.

For more details on Financial aid from Formosa Petrochemical to Nanya Technology and Inotera click here

Sales of Petrochemical Catalysts in USA estimated at US$4.1 bln in 2010

Catalysts are important materials of commerce, even if most people do not realize how catalysts touch them every day. Most of us drive cars fueled with high-octane unleaded, often oxygenated or reformmulated, gasoline, which is blended with components produced in catalytic oil refinery processes.

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Global EDC demand expected to grow at a 2.7% pa from 2009 to 2020

The global demand for EDC demand is expected to grow at a CAGR of 2.7% from 2009 to 2020 as per GBI Research. Global EDC demand in 2000 was 28.2 mln tons, from where it grew at a CAGR of 1.4% from 20000 to 2009.

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Unrest in Egypt continues to push oil prices above US$91 amid mixed US crude and gasoline supply figures

Benchmark crude for March delivery rose to US$91.3 on the Nymex, while in London, Brent crude rose to US$103.2 on the ICE Futures exchange. Unrest in Egypt continues to push oil prices higher amid mixxed US crude and gasoline supply figures.

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Flaring at Eastman’s hydrocarbon-cracking plant 4 at Longview after a relief valve failure

Eastman Chemical Co reported flaring after a relief valve failed in hydrocarbon-cracking plant 4 at its complex in Longview, Texas, according to a filing with state regulators. An upset in the plant’ss debutanizer distillation column caused its relief valve to discharge to the flare, the company said in a filing with the Texas Commission on Environmental Quality, reported Bloomberg.

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UOP LLC to collaborate with Saudi Arabian University for development of catalytic processes for petrochemicals production

UOP LLC will collaborate with the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, Saudi Arabia, for the development of catalytic processes for petrochemicals production. Honeywell'ss UOP and the KFUPM have signed a 5 year agreement that will allow university professors and researchers to collaborate with company scientists on catalyst development and processes for aromatics production.

For more details on UOP LLC to collaborate with Saudi Arabian University for development of catalytic processes for petrochemicals production click here

Gasoline markets abuzz in Europe on improved liquidity on rallying oil prices and start of new month

Gasoline prices and market activity gathered steam in Europe on improved liquidity amid rallying oil prices and the start of a new month, as per Reuters.
Barges prices rose to as high as $870 a tonnne fob ARA during the window in the afternoon, just below 28 month highs of US$871/ton FOB ARA, less than a fortnight ago.

For more details on Gasoline markets abuzz in Europe on improved liquidity on rallying oil prices and start of new month click here

Turkey’s polymer imports for December outpace imports in the past 11 months

According to the data released by the Turkish Statistical Institute (TUIK), Turkey’s plastics imports in December 2010 rose both on a monthly and yearly basis. As per Chemorbis, Turkey’s plastics impoorts were not only the highest import totals of the previous 11 months in 2010 but also the highest figures recorded since December 2000.

For more details on Turkey’s polymer imports for December outpace imports in the past 11 months click here

Chevron Phillips to flare gas at its Port Arthur site on planned shutdown by customer Valero Energy Corp.

Chevron Phillips Chemical Co. plans to flare gas at its Port Arthur site in Texas because its customer Valero Energy Corp., (which uses the fuel) will shut units for maintenance, according to a filingg with state regulators.

For more details on Chevron Phillips to flare gas at its Port Arthur site on planned shutdown by customer Valero Energy Corp. click here

BASF starts operations at expanded plant of the biodegradable plastic Ecoflex

BASF has started operations at its expanded plant to commence production of the biodegradable plastic Ecoflex. Expansion of the existing plant in Ludwigshafen will increase production capacity from 144,000 to 74,000 tpa.

For more details on BASF starts operations at expanded plant of the biodegradable plastic Ecoflex click here

Bayer MaterialScience inaugurates Colour Competence and Design Center near New Delhi

Bayer MaterialScience has now inaugurated its Colour Competence and Design Center in Greater Noida, near New Delhi. This new center provides products and solutions for polycarbonate compounds, rangingg from color matching and small-scale production, to the broad range of technical services to support injection-molding and compounding processes.

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Brückner Group acquires 100% of Swiss PackSys Global

With effect from January 31 2011, Brückner Technology Holding GmbH has acquired all shares of PackSys Global (Switzerland) Ltd., located in Zürich, Switzerland. PackSys Global (PSG) is a global leadinng manufacturer of specialized equipment for the packaging industry.

For more details on Brückner Group acquires 100% of Swiss PackSys Global click here

Eco-friendly aerosol-replacement applications using Flair™ technology

Exciting new advances in aerosol replacement are to be introduced at Interpack 2011 with the debut of packaging and dispensing applications based on its revolutionary Flair™ technology by Afa Dispensiing Group.

For more details on Eco-friendly aerosol-replacement applications using Flair™ technology click here

SABIC expects higher sales and profitability in 2011 and throughout 2012

Saudi Basic Industries Corp (SABIC) expects higher sales and profitability in 2011 and throughout 2012 as petrochemical prices return to pre-crisis levels and further output capacity is added. The worrld's biggest petrochemicals firm by market value gave the upbeat outlook after broadly meeting analysts forecasts with a 27% increase of net profit.

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Growth in R&D in USA’s petrochem industry will sustain competitive edge in high performance and differentiated products

Rationalisation has eroded USAs lead in commodity chemicals in the face of massive Chinese and Middle Eastern capacity growth, but the petrochemicals industry is witnessing growth in research and deveelopment (R&D) that should sustain its competitive edge in high performance and differentiated products, according to BMIs latest US Petrochemicals Report.

For more details on Growth in R&D in USA’s petrochem industry will sustain competitive edge in high performance and differentiated products click here

34.95% rise in standalone net profit for the quarter at Supreme Petrochem

Supreme Petrochem has reported a rise in standalone net profit for the quarter ended December 2010. During the quarter, the profit of the company rose 34.95% to Rs 186.79 mln from Rs 138.42 mln in thhe same quarter last year.

For more details on 34.95% rise in standalone net profit for the quarter at Supreme Petrochem click here

Mexico’s ALFA completes purchase of three South Carolina plants from Eastman Chemical Co

Mexican industrial conglomerate ALFA, S.A.B. de C.V. has completed purchase of 3 South Carolina petrochemical plants from Eastman Chemical Company for about US$600 mln. One of the plants produces PTA and the other two produce PET with an annual capacity of 1.

For more details on Mexico’s ALFA completes purchase of three South Carolina plants from Eastman Chemical Co click here

ONGC’s naphtha exports for February, March from Hazira to be impacted on maintenance

Oil & Natural Gas Corp (ONGC) will skip naphtha exports from Hazira port in February due to berth maintenance in progress since Jan. 28, and likely put the Hazira cargoes into the domestic supply chaiin, as per Reuters.

For more details on ONGC’s naphtha exports for February, March from Hazira to be impacted on maintenance click here

Demand robust for polyolefins in China and India

Preliminary estimates show that demand growth has been quite healthy in the two major markets - China and India, as per ICIS. Polyethylene (PE) demand in China (measured as local production plus imporrts minus exports) rose 13% to 17.

For more details on Demand robust for polyolefins in China and India click here

Novostrat invests in polyethylene foam plant in Poland

Packaging and insulation producer Novostrat has started production of polyethylene foam at Olszyna, Polish Information and Foreign Investment Agency informs. This could be EU’s largest factory to prodduce foam for building insulation and soundproofing and for the packaging and floorboard industry.

For more details on Novostrat invests in polyethylene foam plant in Poland click here

Early February offers for Polypropylene higher in Italy

In Italy, European PP sellers managed increases of €100-130/ton in January business particularly in H2-Jan, supported by strong energy costs, as well as a €110/ton increase on January propylene contraacts, as per Chemorbis.

For more details on Early February offers for Polypropylene higher in Italy click here

US puts sanctions on Belarusian state owned oil, petrochems

The US Monday said it was putting sanctions on doing business with the Belarus state-owned oil and petrochemicals companies because of Western concerns over how the Lukashenko government is treating iits opposition since a December 19 election, as per Platts.

For more details on US puts sanctions on Belarusian state owned oil, petrochems click here

Naphtha prices in Asia to stabilize as consumption falls

Naphtha prices in Asia are expected to stabilize in the next few weeks as consumption falls. This will bring an end to weeks of volatility triggered by strong demand in Asia, a weak European market annd high liquefied petroleum gas prices, as per Reuters.

For more details on Naphtha prices in Asia to stabilize as consumption falls click here

Asian sellers feeling optimistic of post holiday demand, on the eve of holidays in China

With the Chinese New Year holidays set to begin, sellers across Asia say that they are generally feeling optimistic about their prospects for the post-holiday period, as per Chemorbis. Sellers point tto their expectations of seeing better demand after the holidays along with higher upstream costs as support for their firm stance on prices.

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LANXESS invests 900 crores in India in the last 3 years, mainly in specialty chemicals

As estimated by global consulting firm McKinsey and Company, the specialty chemicals industry in India is projected to grow at 15-17% pa to reach US$80-100 bln by 2020. This will be driven by steady ggrowth in end user industries and increase consumption.

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Oil prices rise past US$89 on unrest in Egypt that threatens to spread across Middle East

Benchmark crude for March delivery rose to US$89.5 in electronic trading on the Nymex, while in London, Brent crude rose to US$89.5 on ICE Futures exchange. The contract spiked by close to 4% to settlle at US$89.

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Iran’s petrochemical exports to Europe to reach US$2 bln by end of current Iranian year

Iran’s petrochemical exports to Europe will reach US$2 bln by the end of the current Iranian year. Currently Iran exports various petrochemical products to 65 countries, including 17 European nations,, Mehr news agency reported.

For more details on Iran’s petrochemical exports to Europe to reach US$2 bln by end of current Iranian year click here

Saudi joint venture with Dow for SR1.8 bln n-Butanol plant

Saudi Kayan Petrochemicals has signed a preliminary agreement with Saudi Acrylic Acid Co and a joint venture between U.S. Dow Chemical and Saudi Aramco to build a 330,000 tons n-Butanol plant in the kkingdom.

For more details on Saudi joint venture with Dow for SR1.8 bln n-Butanol plant click here

Active and smart packaging technology for food and beverage market to grow rapidly

The increasing demand for fresh and quality packaged food, consumer convenience and manufacturers concern for longer shelf life of the food products is driving the market for Global active and smart ppackaging technology for food and beverage market.

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Italy's oil and gas major Eni to invest euro 1 bln to revamp outdated petrochemical site

Italy's oil and gas major Eni plans to invest 1 billion euros (US$1.37 bln) to revamp its outdated petrochemical site on the Italian island of Sardinia as per Reuters. Eni is ready to inject the fundss in a project to make environmentally friendly products such as biodegradable plastic, on its loss-making Porto Torres site from 2011-2016.

For more details on Italy's oil and gas major Eni to invest euro 1 bln to revamp outdated petrochemical site click here