High-performance glass fiber replaces metal in demanding automotive and industrial applications

Owens Corning, leading global producer of glass fiber reinforcements for composite systems has introduced HydroStrand™, a chopped strand glass fiber for high-performance polyphenylene sulfide (PPS) coomposites.

For more details on High-performance glass fiber replaces metal in demanding automotive and industrial applications click here

Geopolitical risks, outlook for global energy demand push up oil prices

Oil prices have risen as investors remain focused on geopolitical risks and the outlook for global energy demand. Brent crude gained to US$115.25 a barrel. Oil prices were under pressure as oppositionn fighters in Libya regain control of cities and key oil installations.

For more details on Geopolitical risks, outlook for global energy demand push up oil prices click here

PTT Group plans further consolidation of downstream petrochemical businesses

PTT Group will further consolidate its downstream petrochemical businesses later this year after completing the merger of its upstream units. The merger of PTT Aromatics and Refining and PTT Chemical should be finalized just before September, creating a new upstream petrochemicals unit.

For more details on PTT Group plans further consolidation of downstream petrochemical businesses click here

BASF explores avenues to further boost its investment in Malaysia

BASF SE, which is operates an integrated petrochemicals complex in Gebeng near Kuantan, is exploring avenues to further boost its investment in Malaysia, as per Bernama.
BASF and Petronas signed a meemorandum of understanding (MoU) last December to undertake a joint feasibility study to produce specialty chemicals in Gebeng, Pahang, and elsewhere in Malaysia in a move that would extend the two parties’ existing collaboration in the country.

For more details on BASF explores avenues to further boost its investment in Malaysia click here

Egyptian companies to invest US$1.18 bln in ethylene venture

Sidi Kerir Petrochemicals Co. and two Egyptian government companies plan to invest 7 billion Egyptian pounds (US$1.18 bln) in an ethylene venture. Sidi Kerir has a license to build a plant with capaciity to produce 460,000 tpa of ethylene, will hold a 20% stake in the new company.

For more details on Egyptian companies to invest US$1.18 bln in ethylene venture click here

Biggest PET Buyer-Seller Meet for South America PET packaging & resin industry returns to Sao Paolo

Building on the success of last year’s inaugural event, key PET industry professionals will once again gather for the 2nd SAPET conference in Sao Paulo. Recognized as the premier meeting place for thee South America PET resin & packaging industry, this year the conference reconvenes on 10-11 May 2011, to coincide with Brasilplast.

For more details on Biggest PET Buyer-Seller Meet for South America PET packaging & resin industry returns to Sao Paolo click here

Global PP markets firm into April

Moving into April, global PP markets including China, Southeast Asia, Italy, Turkey and Egypt maintain their strength in line with the recent firming trend in the upstream chain, as per Chemorbis. As a result of the ongoing repercussions of the devastating Japan earthquake and the turmoil in the Middle East, crude oil prices have been hovering above $105/barrel since early last week, after breaching this threshold on the Nymex for the first time since 2008.

For more details on Global PP markets firm into April click here

CNG Tanks manufactured using HiPer-tex™ reinforcements

Greenes Group is one of the Netherland’s leading installers and retrofitters of Compressed Natural Gas (CNG) tanks for cars and light commercial vans and has now selected to fit its vehicles with tankks manufactured using HiPer-tex™ high performance fibreglass from 3B-the fibreglass company.

For more details on CNG Tanks manufactured using HiPer-tex™ reinforcements click here

Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 28, 2011

OIL
Oil futures eased towards the end of the week of March 28, 2011, but continued to linger around US$106 as political tensions persisted in the Middle EEast.

For more details on Price trends of oil, polymer feedstock and commodity polymers in Asia for the week ended March 28, 2011 click here

Japan's JX Nippon Oil & Energy Corp restarts Kawasaki naphtha cracker

Japan's JX Nippon Oil & Energy Corp, an oil refining unit of JX Holdings , has restarted its Kawasaki naphtha cracker, with ethylene production capacity of 404,000 tpa, as per Reuters. This cracker haas been shut following a massive earthquake on March 11.

For more details on Japan's JX Nippon Oil & Energy Corp restarts Kawasaki naphtha cracker click here

BASF explores opportunities for acrylic Acid, butyl acrylate, superabsorbents in Brazil

BASF is exploring opportunities in Brazil to build an acrylic acid, butyl acrylate and superabsorbent polymers manufacturing complex. The company has signed a memorandum of understanding with Braskem,, which will secure supply of propylene feedstock by Braskem to BASF.

For more details on BASF explores opportunities for acrylic Acid, butyl acrylate, superabsorbents in Brazil click here

Williams Cos. inks deal to supply ethane and ethylene to Nova Chemicals Corp

Nova Chemicals Corporation has signed a long-term agreement with a subsidiary of Williams for a feedstock supply of an ethane/ethylene mix to be extracted from off-gas produced at oil sands upgrading facilities located at Fort McMurray and Redwater, Alberta.

For more details on Williams Cos. inks deal to supply ethane and ethylene to Nova Chemicals Corp click here

Chevron Phillips advances feasibility study to construct ethane cracker by developing shale gas reserves

In a bid to capitalize on the advantaged feedstock position that shale gas resources could bring to the US chemical industry, Chevron Phillips Chemical Company LP is advancing a feasibility study. Thee feasibility study is for a project to construct a world-scale ethane cracker and ethylene derivatives unit at one of its existing facilities in the U.

For more details on Chevron Phillips advances feasibility study to construct ethane cracker by developing shale gas reserves click here

Approval for BASF’s 400,000 tpa MDI (diphenylmethane diisocyanate) project in Chongqing

BASF has received approval for a 400,000 tpa MDI (diphenylmethane diisocyanate) project in Chongqing, China. The project was approved by Chinese authorities, following a stringent examination of envirronmental, health and safety standards, two rounds of local public consultation and several expert reviews.

For more details on Approval for BASF’s 400,000 tpa MDI (diphenylmethane diisocyanate) project in Chongqing click here

Japan earthquake, crude at US$100, fail to push Asian ethylene higher

Spot ethylene prices posted modest gains on a CFR NEA basis this week, while ethylene offers to Southeast Asia actually moved lower this week. Although the effects of the March 11 earthquake in Japann are still being felt and crude oil prices have moved past US$105/barrel on the Nymex for the first time since 2008, high stock levels in China and Taiwan along with poor production margins for PE have prevented ethylene prices from posting more substantial increases.

For more details on Japan earthquake, crude at US$100, fail to push Asian ethylene higher click here

Oil prices dip at the start of the week

Oil prices dipped to near US$105 a barrel at the start of the week, as Libyan rebels retook control of a two key port towns and said they would restart crude exports within weeks. Rebels recaptured oiil complexes in the coastal cities of Ras Lanouf and Brega as strikes by coalition fighter jets and missiles pushed back forces loyal to Libyan leader Moammar Gadhafi.

For more details on Oil prices dip at the start of the week click here

Gap between Asian GPPS and HIPS prices widens

In Asia, the premium between GPPS and HIPS prices widened significantly as HIPS prices have been pushed higher when compared to GPPS on the back of the higher production costs, as per Chemorbis. Now, the gap between Asian GPPS and HIPS has reached a whopping US$200/ton.

For more details on Gap between Asian GPPS and HIPS prices widens click here

Supreme Petrochem to commission EPS units at Nagothane in April-May

Supreme Petrochem expects to commission one of its new expandable polystyrene (EPS) units at Nagothane by 16 April and second unit a month later, as per ICIS. The first unit, which will produce commoddity-grade EPS, will start up first, and the specialty-grade unit will go on stream later.

For more details on Supreme Petrochem to commission EPS units at Nagothane in April-May click here

Oil eased at end of week, linger around US$106 on Middle Eastern political tension

Oil futures eased at the end of last week, but continued to linger around US$106 as political tensions continued to blaze in the Middle East. One of the latest developments in the Middle East crisis hhas seen members of the North Atlantic Treaty Organization (NATO), reportedly reach an agreement to take over enforcement of the United Nations-sanctioned no-fly zone over Libya.

For more details on Oil eased at end of week, linger around US$106 on Middle Eastern political tension click here

A new transparent, flexible biopolymer

A new transparent, flexible biopolymer has been launched by FKuR, called Bio-Flex F 2201 CL It is in line with the other resins in the Bio-Flex family, can be processed easily on standard LDPE blown ffilm lines and converting equipment.

For more details on A new transparent, flexible biopolymer click here

23% capacity shut by Japan’s ethylene producers post-March 11

Japan’s ethylene producers have 23% of their capacity shut following the country’s March 11 earthquake and tsunami, as per Chemical Market Associates Inc. No ethylene capacity has been restarted sincee CMAI’s last report on March 18.

For more details on 23% capacity shut by Japan’s ethylene producers post-March 11 click here

Naphtha strong in Europe as strong demand from USA, Brazil outweighs demand loss from Japan

Despite loss of demand from Japan, naphtha market in Europe remains tight as falling demand from Japan is outweighed by strong demand from the US and Brazil, as per ICIS. The market had been slightly oversupplied when the Japan earthquake struck on March 11 and there were fears it would lengthen further in the wake of the disaster.

For more details on Naphtha strong in Europe as strong demand from USA, Brazil outweighs demand loss from Japan click here

Tight domestic supply compel European HDPE injection grade converters to source from Asia

European high density polyethylene injection grade converters are sourcing from Asia prompted by tight domestic supply, as per Platts. HDPE injection grade spot levels in Asia closed Wednesday at US$11345/mt CFR FE Asia.

For more details on Tight domestic supply compel European HDPE injection grade converters to source from Asia click here

China’s polymer imports decline in February

According to data from Chinese Customs, the country’s February polymer imports posted significant losses from January for almost all products, as per Chemorbis. China’s polymer imports generally see aa drop from January to February owing to the week-long Chinese New Year holidays in February and this year’s decrease was consistent with amounts seen over the past several years.

For more details on China’s polymer imports decline in February click here

Global Foamed Plastics (Polyurethane) Market to reach 9.6 Mln tons by 2015

Global market for foamed plastics (polyurethane) is projected to reach 9.6 mln tons by 2015, driven by resurgent demand from construction, furniture and bedding, and automotive markets, as per Global Industry Analysts, Inc.

For more details on Global Foamed Plastics (Polyurethane) Market to reach 9.6 Mln tons by 2015 click here

Resumption of operations at Mitsubishi's Kashima naphtha crackers to take at least two months

Japan's Mitsubishi Chemical Corp will take at least two months to resume operations at two naphtha crackers in eastern Japan after a massive earthquake damaged some infrastructure and equipment at thee fim's Kashima plant, as per Reuters.

For more details on Resumption of operations at Mitsubishi's Kashima naphtha crackers to take at least two months click here

Honam Petrochemical Corp to establish PP manufacturing facility in Auburn

Honam Petrochemical Corporation is to establish a manufacturing facility for polypropylene resin materials in Auburn, its first US manufacturing operation. HPM Alabama Corporation will initially invesst an estimated US$9.

For more details on Honam Petrochemical Corp to establish PP manufacturing facility in Auburn click here

Sub-contractors eager to cooperate with BCPL, agree to withdraw indefinite cease work

Sub-contractors eager to cooperate with BCPL, agree to withdraw indefinite cease work
Sub-contractors of the Assam Gas Cracker Project are to cooperate with the Brahmaputra Cracker & Petrochemicals LLtd (BCPL) - the holding company of the project, by agreeing to withdraw their indefinite cease work at the Rs 5400 crore mega project.

For more details on Sub-contractors eager to cooperate with BCPL, agree to withdraw indefinite cease work click here

Asian PVC markets move higher for April

Following the US$50-60/ton increases for March, Asian PVC markets indicate another bullish month, with overseas producers seeking noticeable price hikes on April offers to China and Southeast Asia, ass per Chemorbis.

For more details on Asian PVC markets move higher for April click here

Tensions rise in the MENA; oil prices rise above US$105

Light sweet crude for May delivery traded at US$104.9, while Brent crude for May delivery traded at US$116.2, as rising tensions in the Middle East and Libya threatened to disrupt oil supplies. As perr analysts, Brent crude is expected to break all time records this week as no easing of allied bombing on Gadhafi's forces seems to be in sight.

For more details on Tensions rise in the MENA; oil prices rise above US$105 click here

Sharp raw material price increases could jeopardize positive prospects of the industry in Belgium

At its general meeting, Federplast.be, the Belgian Association of Manufacturers of Plastic and Rubber Products, released the results of a survey of its members. The production volume of the plastics aand rubber industry in 2010 experienced a growth of 5.

For more details on Sharp raw material price increases could jeopardize positive prospects of the industry in Belgium click here

Polypropylene sellers in Europe pass on propylene increase in March

Following a round of noticeable increases on February PP deals, European sellers returned with additional hikes on their March prices to Italy and Turkey, as per Chemorbis. Though demand has not been great over the month, March price hikes have met with acceptance, with increases of €70-90/ton passing on spot deals and gentlemen’s agreements in Italy.

For more details on Polypropylene sellers in Europe pass on propylene increase in March click here

Drop in Japan’s naphtha consumption on shutdown of 25% petrochemical capacity to boost supplies in Asia

An unexpected fall in Japan's naphtha consumption following the shutdown of a quarter of its petrochemical capacity will boost supplies in Asia far in excess of demand, hurting exporters as far away aas Europe, as per Reuters.

For more details on Drop in Japan’s naphtha consumption on shutdown of 25% petrochemical capacity to boost supplies in Asia click here

End of month restart for JX Nippon’s Kawasaki naphtha cracker, with 404,000 tpa ethylene capacity

Japan's JX Nippon Oil & Energy Corp expects to restart its quake-hit Kawasaki naphtha cracker, with ethylene production capacity of 404,000 tpa by end of month as per Reuters. Though the cracker has bbeen shut since the earthquake, product shipments continue.

For more details on End of month restart for JX Nippon’s Kawasaki naphtha cracker, with 404,000 tpa ethylene capacity click here

Volatile week for crude oil

After a volatile week, oil futures settled at US$103 on the Nymex, while Brent futures rose to US$115. Oil price volatility is supported on concerns as the unrest in the Middle East and North Africa ccontinues to extend and uncertainty shrouds demand from Japan, the world's third-largest oil consumer.

For more details on Volatile week for crude oil click here

Extensive damage to Japan’s auto industry to impact polymer consumption in the region

For more details on Extensive damage to Japan’s auto industry to impact polymer consumption in the region click here

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

CRUDE OIL
Crude oil prices ended the week of March 21, 2011 on a higher note, spiking by over two dollars past US$103 on the Nymex. Prices spiked as allieed forces fired on Libyan defense sites and the military called for an immediate cease-fire.

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

Oil prices spike following escalating violence in Libya, as allied forces fire Libyan sites

Oil prices spiked by over two dollars following escalating violence in Libya, as allied forces fired on Libyan defense sites and the military called for an immediate cease-fire. Brent crude rose by ovver a dollar to US$114.

For more details on Oil prices spike following escalating violence in Libya, as allied forces fire Libyan sites click here

Spot ethylene prices rising in Asia and USA, slipping in Europe

Spot ethylene prices gained ground in Asia and USA over the past week on the strength of limited supply, as US ethylene prices find additional support from healthy demand inside the country, as per Chhemorbis.

For more details on Spot ethylene prices rising in Asia and USA, slipping in Europe click here

Asia's naphtha price and cracks climb to their highest in about a week

Asia's naphtha price and cracks were at their highest in about a week on Monday, expected to cool down soon as traders remain unconvinced that supplies are as tight as they seem, as per Reuters. Craccks have been climbing since March 16, with nearly an 11% surge on Monday, but traders said bulls were focusing too much on supply disruptions in Japan after the earthquake.

For more details on Asia's naphtha price and cracks climb to their highest in about a week click here

Sumitomo Chemical’s on operations after the Japan earthquake and tsunami

Sumitomo Chemical hasrreleased a statement concerning the status of the company’s operations after the Japan earthquake and tsunami, confirming that none its employees are injured or missing.
At thee Chiba Works ethylene plant, (Ichihara and Sodegaura cities, Chiba Prefecture), operations continue at the main facility while adjusting the load on the plant as necessary.

For more details on Sumitomo Chemical’s on operations after the Japan earthquake and tsunami click here

Crude prices continue to rise on relentless unrest in the Middle East

The past few months have seen an uptrend in crude oil prices. The relentless unrest in the Middle East is pushing it further up. Brent climbed 1.5% on Monday towards US$116 per barrel after western foorces launched a military campaign against Libya, stoking fears of intensifying violence in North Africa and the Middle-East.

For more details on Crude prices continue to rise on relentless unrest in the Middle East click here

New PU insulation increases manufacturing productivity and in-home energy efficiency

Dow Polyurethanes, a business unit within The Dow Chemical Company, along with Haier, presented a Dow-patented breakthrough rigid polyurethane insulation technology for household refrigerators and freeezers.

For more details on New PU insulation increases manufacturing productivity and in-home energy efficiency click here

Korea Kumho in butadiene JV with JG Summit Petrochemical Corp.

Korea Kumho Petrochemical Co. has inked an agreement for a 50:50 butadiene JV with JG Summit Petrochemical Corp. (JGSPC) of the Philippines. The JV will be located in Bantangas, about 110 kilometers ssouth of Manila.

For more details on Korea Kumho in butadiene JV with JG Summit Petrochemical Corp. click here

Technical glitch at Shell’s 800,000 tpa naphtha-fed steam cracker at Pulau Bukom, Singapore

Shell’s 800,000 tpa naphtha-fed steam cracker at Pulau Bukom, Singapore, has encountered a technical glitch. This has led Shell to declare force majeure on the supply of downstream petrochemical produucts such as monoethylene glycol, ethylene and propylene, as per Platts.

For more details on Technical glitch at Shell’s 800,000 tpa naphtha-fed steam cracker at Pulau Bukom, Singapore click here

Saudi Kayan inks murabaha facility agreement with Banque Saudi Fransi to cover construction costs

Saudi Kayan Petrochemicals has signed a SR 2 bln (US$533.3 mln) murabaha facility agreement with Banque Saudi Fransi to cover construction costs. The ten year loan is to fund part of the additional coosts of its complex in Jubail Industrial city, and is guaranteed by Saudi Basic Industries Corp (SABIC), the firm's main shareholder.

For more details on Saudi Kayan inks murabaha facility agreement with Banque Saudi Fransi to cover construction costs click here

Effects of Japan's production losses begin to creep into Asia's petrochemical markets

A week after the massive earthquake and tsunami caused widespread devastation in Japan, Asian petrochemicals are feeling the effects of Japanese production losses, as per ICIS.
Regional supply of paaraxylene (PX) was notably tighter, with three Japanese facilities owned by JX Nippon Oil & Energy shut since 11 March.

For more details on Effects of Japan's production losses begin to creep into Asia's petrochemical markets click here

Naphtha-Gasoline crack at 27 month lows in Europe

Naphtha-Gasoline cracks have dipped to 27 month lows on Thursday as rising prices were outpaced by rallying oil markets, as per Reuters. Volatile crude prices helped drive gasoline prices higher durinng the session, after a rocky start.

For more details on Naphtha-Gasoline crack at 27 month lows in Europe click here

Japan's petrochem status mixed after earthquake

The earthquake which rocked Japan on March 11 has had the most impact on the northern portions of Honshu Island, an area which is relatively less industrialized than the rest of the island, as per Cheemorbis.

For more details on Japan's petrochem status mixed after earthquake click here

South Korea's YNCC to shut its largest 857,000 tpa naphtha cracker as planned

South Korea's YNCC, with a total capacity of 1.9 mln tpa plans to shut its largest 857,000 tpa naphtha cracker as planned from April 5.

For more details on South Korea's YNCC to shut its largest 857,000 tpa naphtha cracker as planned click here

Maruzen Petrochemical prepares to restart 480,000 tpa naphtha cracker in Chiba

Japan's Maruzen Petrochemical Co Ltd prepares to restart of its 480,000 tpa naphtha cracker in Chiba, east of Tokyo, after being shut for a week as per Reuters. Maruzen's Keiyo Ethylene unit continuedd operating a 690,000 tpa naphtha cracker in Chiba after the quake.

For more details on Maruzen Petrochemical prepares to restart 480,000 tpa naphtha cracker in Chiba click here

Tonen Chemical Corp operating 491,000 tpa Kawasaki naphtha cracker

Tonen Chemical Corp continues to operate its 491,000 tpa naphtha cracker in Kawasaki operating. Tonen Chemical is a petrochemical unit of TonenGeneral Sekiyu KK, a subsidiary of Exxon Mobil.

For more details on Tonen Chemical Corp operating 491,000 tpa Kawasaki naphtha cracker click here

30 day maintenance shutdown starts at LG Chem's 800,000 tpa naphtha cracker

LG Chem has embarked on a 30 day maintenance shutdown at its 800,000 tpa naphtha cracker. This will raise cracker capacity by 100,000 tons, augmenting LG's total capacity to 1.9 mln tp, as per Reuterss.

For more details on 30 day maintenance shutdown starts at LG Chem's 800,000 tpa naphtha cracker click here

Domestic PP, PE prices move lower in China as demand softens

Local PP and PE prices moved lower in China as lackluster demand within the country pushed sellers to reduce prices, as per Chemorbis. Chinese traders are also reported to be actively searching for ppossible re-export outlets for their excess materials, as stock levels within the country are said to be at high levels, putting further pressure on sellers to reduce prices in hopes of speeding up their sales.

For more details on Domestic PP, PE prices move lower in China as demand softens click here

Cabot plans to invest more than US$180 mln for 15% capacity increase uptil 2013

Cabot Corp., the world's No. 1 producer of carbon black, plans to invest more than US$180 mln uptil 2013 to expand manufacturing capacity in some of the fastest growing regions of the world. Cabot iss expanding capacity at plants in China, Indonesia, Brazil and Argentina by the end of 2013, as well as adding capacity at three facilities in Europe.

For more details on Cabot plans to invest more than US$180 mln for 15% capacity increase uptil 2013 click here

Earthquake damage forces shutdown of Mitsubishi’s ethylene plant in Ibaraki Prefecture

Mitsubishi Chemical Corp. has been forced to halt operation of its plant in Ibaraki Prefecture due to earthquake related damage. This plant, with 830,000 tpa capacity, is Japan's largest ethylene prodduction capacity.

For more details on Earthquake damage forces shutdown of Mitsubishi’s ethylene plant in Ibaraki Prefecture click here

Petrochemical plant shutdowns in Japan

A list of petrochemical plant shutdowns in Japan as compiled by PlasticsNews:
Wilmington, Del.-based DuPont Co. has closed its engineering resin plant and research center in Utsunomiya. Officials saiid the site will remain closed until damage assessments are completed.

For more details on Petrochemical plant shutdowns in Japan click here

Supply issues continue to plague Europe’s HDPE market

Ineos' HDPE plant at Lillo in Belgium will undergo two weeks of planned maintenance beginning March 18-19, as reported by Platts. The force majeure at the HDPE lines is expected to remain til "early to mid April.

For more details on Supply issues continue to plague Europe’s HDPE market click here

Spot PE firms in NW Europe despite easing naphtha

Spot values for polyethylene grades in Northwest Europe remained firm this week despite easing naphtha levels, due to tight supply tight for prompt volumes of many grades, as per Platts. Demand for Eaast-bound naphtha has been weak on reduced demand from Japan, while the European market has been showing a balanced long view.

For more details on Spot PE firms in NW Europe despite easing naphtha click here

European gasoline refining margins fall to 27 month lows

Gasoline refining margins in Europe fell to 27 month lows of around minus $4.43 a barrel along with falling naphtha cracks, as per Reuters. Japan is one of the largest importers of naphtha, and the cuurrent disaster has pressured light-end refining margins- this is because more refiners favour middle distillates over light ends on expected increased demand from Japan.

For more details on European gasoline refining margins fall to 27 month lows click here

Oil futures recover as Japan's oil refining sector gradually restores operations

Light, sweet crude futures for delivery in April traded at US$99.90 on the Nymex, advancing as prospect of a long-term disruption to Japanese crude demand recedes. Japan’s oil refining sector is graduually restoring operations indicating that oil demand from the world's third-largest oil consumer will not be severely affected.

For more details on Oil futures recover as Japan's oil refining sector gradually restores operations click here

Spot styrene dips across the globe in March

Spot styrene prices across the globe have followed a downward trend for most of March, with current prices standing significantly below the early March levels in Europe, Asia and the US, as per Chemorrbis.

For more details on Spot styrene dips across the globe in March click here

Oil prices gain under impact of several man made crises and natural disasters

Oil prices gained as markets assess impact of numerous international crises on world energy demand. Focus is shifting between Japan's crisis and rising tensions in Bahrain. Benchmark crude for April ddelivery settled at US$97.

For more details on Oil prices gain under impact of several man made crises and natural disasters click here

US Rigid Bulk Packaging Market demand to reach US$6.7 bln in 2015

Demand for rigid bulk packaging is projected to reach US$6.7 bln in 2015, as per Reportlinker. Increases will accelerate from the performance of the 2005-2010 period, reflecting improved manufacturingg output as the US economy rebounds from the recession that began in December 2007.

For more details on US Rigid Bulk Packaging Market demand to reach US$6.7 bln in 2015 click here

Celanese to raise price of all Ethylene Vinyl Acetate (EVA) grades

With effect from April 15, 2011, Celanese EVA Performance Polymers Inc., a subsidiary of specialty material company Celanese Corp. will increase price of all grades of Ateva Ethylene Vinyl Acetate (EVVA) by 8 cents/lb, and all grades of LDPE by 6 cents/lb.

For more details on Celanese to raise price of all Ethylene Vinyl Acetate (EVA) grades click here

Naphtha retreats for fourth day – its longest decline since beginning of the year

Open-specification naphtha for delivery to Japan retreated for a fourth day to US$927/ton, its longest decline since Dec. 31, as per Bloomberg. Asia naphtha capped the longest losing streak in more thhan two months as petrochemical-plant outages in Japan cut demand.

For more details on Naphtha retreats for fourth day – its longest decline since beginning of the year click here

Japan Polyethylene’s PE plants at Kashima and Kawasaki remain shut

Japan Polyethylene’s polyethylene (PE) plants at Kashima and Kawasaki remain shut in the wake of the 11 March earthquake. The affected facilities comprise a 60,000 tpa low density PE (LDPE) plant and 260,000 tpa linear LDPE (LLDPE) unit at Kashima; a 90,000 tpa LDPE plant, a 60,000 tpa LLDPE unit and two high density PE (HDPE) plants with a combined capacity of 170,000 tpa at Kawasaki.

For more details on Japan Polyethylene’s PE plants at Kashima and Kawasaki remain shut click here

Oil falls below US$100

Oil prices have fallen below US$$100 for the first time in two weeks as investors turn to safer assets on concerns that Japan’s widening disaster could lead to a global economic slowdown. However, somme forecasters expect Japan’s oil consumption to rebound to meet its reconstruction needs, particularly of products such as diesel fuel used in small power generators.

For more details on Oil falls below US$100 click here

NOVA to purchase 20,000 bpd of ethane on a long-term basis from Caiman Energy

Expansion of the West Virginia chemical industry via byproducts of the potential Marcellus shale natural gas boom has moved closer to realization this week. NOVA Chemicals Corporation and Caiman Energgy, LLC, have signing of a memorandum of understanding, wherein NOVA has agreed to purchase 20,000 bpd of ethane on a long-term basis.

For more details on NOVA to purchase 20,000 bpd of ethane on a long-term basis from Caiman Energy click here

Kazakhstan seeks finance for US$4.4 bln PE plant, in talks with S Korea, Japan, Abu Dhabi

Kazakhstan is in talks with South Korea’s Hanwha Chemical Corp., Japan’s Marubeni Corp. (8002) and the investment arm of the Abu Dhabi government as it seeks financing for a US$4.4 bln polyethylene (PPE) plant, as per Bloomberg.

For more details on Kazakhstan seeks finance for US$4.4 bln PE plant, in talks with S Korea, Japan, Abu Dhabi click here

Trial polycarbonate production at Saudi Kayan’s Jubail plant

Saudi Kayan has started trial production of polycarbonate at Jubail Industrial City. PC capacity is slated at 260,000 tpa.


For more details on Trial polycarbonate production at Saudi Kayan’s Jubail plant click here

Japan Polypropylene’s PP facilities at Kashima, Kawasaki, badly affected

Japan Polypropylene’s production site at Kashima has been badly affected by the tsunami triggered by the 11 March earthquake with major infrastructural reconstruction required, as per ICIS. However, tthe polypropylene (PP) plant itself may not be as seriously damaged, though the basic infrastructure at the site that has been badly damaged will require time to restore.

For more details on Japan Polypropylene’s PP facilities at Kashima, Kawasaki, badly affected click here

Players predict another month of PVC increases in SE Asia, India

Players in Southeast Asia and India are predicting significant upward movement in both local and import PVC prices for the month of April based on widespread concerns about possible VCM shortages leadding to reduced PVC production, as per Chemorbis.

For more details on Players predict another month of PVC increases in SE Asia, India click here

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

OIL
In a volatile week, oil prices on the Nymex, ended the week at levels above US$100. During the week ended March 14, 2011, Libyan government forces aattacked rebels on western and eastern fronts, intensifying their offensive to crush the revolt against Muammar Gaddafi.

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

Indian Oil Corporation plans to shut for units at Panipat for repairs next fiscal

State-run Indian Oil Corporation (IOC) plans to shut for repairs some of its secondary units and a naphtha cracker plant at northern Panipat refinery in the next fiscal. The refinery has a capacity too process 300,000 bpd crude, and naphtha cracker produces 850,000 tpa of ethylene and 600,000 tpa of propylene.

For more details on Indian Oil Corporation plans to shut for units at Panipat for repairs next fiscal click here

Naphtha and gasoline-rich crudes from Middle East to suffer under impact of Japan’s calamity

As of now Japan needs only middle distillates for reconstruction, so naphtha- and gasoline-rich crudes from the Middle East are going to suffer. Values of condensates may be particularly affected becaause of the closure of Japanese petrochemical plants, as per Reuters.

For more details on Naphtha and gasoline-rich crudes from Middle East to suffer under impact of Japan’s calamity click here

Petrochemical prices surge in Asia as buyers in Japan seek front-month cargoes

Petrochemical prices in Asia surged as buyers in Japan seek front-month cargoes, as per Platts. Last weeks’ earthquake and tsunami has taken much of the petrochemical infrastructure offline in Japan, reducing prompt supplies.

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Saudi Arabia sets up technical panel to defend itself in anti-dumping row with EU

Saudi Arabia has set up a technical panel as part of its drive to defend itself in an anti-dumping row with the 27-member European Commission. The high-level technical panel will work and coordinate wwith an international consulting office to explain the position of the Saudi government and exporters, as per Arab News.

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6 refineries shut in Japan: Japan loses almost 1.4 mln bpd of crude oil

Six Japanese refineries capable of processing almost 1.4 mln bpd of crude oil have been shut after Japan’s natural disaster, as per Dow Jones Newswires. These six complexes are located in northeasternn Japan earthquake zone area, and account for more than a quarter of the country's total processing capacity.

For more details on 6 refineries shut in Japan: Japan loses almost 1.4 mln bpd of crude oil click here

Leading event for the entire supply chain for the PET industry

Coca Cola and Danone are among top PET brand owners confirmed to speak at CMT’s CEEPET & Balkans Markets conference on 30-31 May 2011. Into its 12th year, CMT’s Central & Eastern Europe PET series is the industry leading event widely attended by the entire supply chain for the PET industry – from resin suppliers to end users around the world.

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Price Increase announced by DuPont for all Ethylene Copolymer in Europe, Middle East and Africa

DuPont Packaging & Industrial Polymers is announcing for Europe, Middle East, and Africa, a price increase of up to 15%, depending on the grade, on all grades of DuPont Ethylene Copolymer resins. Thiis action is in addition to the previously communicated January 1, 2011 increases and will take effect April 1, 2011 or as allowed by contract.

For more details on Price Increase announced by DuPont for all Ethylene Copolymer in Europe, Middle East and Africa click here

Naphtha falls by over thirty dollars in Europe

The European naphtha cargo range fell by US$31/ton in line with lower crude oil prices and a weaker crack spread caused by fears of the impact of the massive earthquake that hit Japan on 11 March, as per ICIS.

For more details on Naphtha falls by over thirty dollars in Europe click here

Petrochemical markets hit by Japan earthquake

Upstream as well as downstream markets across the globe have witnessed rapid changes as a response Japan’s massive earthquake followed by a tsunami, that rocked the north of Japan at the end of last wweek, as per Chemorbis.

For more details on Petrochemical markets hit by Japan earthquake click here

Fire breaks out at South Asian Petrochemicals' PET plant

A major fire broke out at the South Asian Petrochemicals'' plant in Haldia. Chairman of South Asian Petro C K Dhanuka told PTI that the raw material godown caught fire. Production at the plant, which is one of the largest manufacturers of PET resins, has been immediately stopped.

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Demand from middle class and growing F&B sector drive Plastics Packaging in South Africa

The Southern African plastics packaging market witnessed constant growth from 2000 to 2008 due to the developing economy. More recently, the emerging middle class has contributed greatly towards the ddemand for plastics packaging.

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Total inks framework agreement on joint development of CTO project in Inner Mongolia

French energy giant Total, China Power Investment Corp. (CPIC) and the People's Government of Inner Mongolia Autonomous Region have signed a framework agreement on joint development of a coal-to-olefiin (CTO) project in Inner Mongolia's Ordos.

For more details on Total inks framework agreement on joint development of CTO project in Inner Mongolia click here

Supply of natural gas in Saudi Arabia enough for planned petrochemical projects

Saudi Arabia has enough natural gas to supply planned petrochemical projects. "All projects under development and all the existing plants producing today are fully supplied," as per ministry adviser PPrince Faisal bin Turki.

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Obama under political pressure to keep gasoline under control: to tap US emergency reserves?

As political pressure mounts on US President to assure Americans to keep gasoline costs under control, President Obama seems to be step away from tapping crude from the US emergency reserves, as per RReuters.

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Demand for Agricultural Films

Plastics have been used to increase food production and conserve water for 50 years in horticulture and agriculture: the demand in this market was 2.8 mln tons in 2009, according to Andrew Reynolds, RResearch Director at Applied Market Information (AMI).

For more details on Demand for Agricultural Films click here

Breakthrough in nanocomposite for high-capacity hydrogen storage

Scientists with the U.S. Department of Energy (DOE) Lawrence Berkeley National Laboratory (Berkeley Lab) have designed a new composite material for hydrogen storage consisting of nanoparticles of magnnesium metal sprinkled through a matrix of polymethyl methacrylate, a polymer related to Plexiglas.

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Asian PET producers stand firm on prices

In Asia, despite the softer feedstock costs, PET producers continue to show a determined attitude regarding their firm PET pricing policy, pointing to the still strong oil prices, hovering above US$1000/bbl, as per Chemorbis.

For more details on Asian PET producers stand firm on prices click here

Oil continues to slip: effect of Japan’s natural disaster

US crude oil prices slipped has fallen, dipping to US$101 on the Nymex. News continues to pour in days after an earthquake and tsunami struck Shendai area of Japan. Energy companies with operations iin Hawaii, Alaska and along the California coast including oil refineries were bracing for the possible impact of a tsunami after the Japan earthquake.

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Japan’s earthquake and tsunami could lead to volatile prices for refiners and LNG importers in India

Indian refiners and LNG importers face volatile prices as the earthquake and the tsunami that ravaged parts of Japan, and on fears of unrest in the Middle East region that have rocked energy markets. The devastation of factories and disruption in air travel would temporarily impact fuel demand in Japan.

For more details on Japan’s earthquake and tsunami could lead to volatile prices for refiners and LNG importers in India click here

Japan earthquake to impact energy sector

The massive 8.9 magnitude earthquake and tsunami struck the northeast coast of Japan, the strongest quake in Japan since records began, causing widespread destruction. Here is the impact on manufacturrers, energy firms and other companies with facilities in northeastern Japan, as per Reuters:
Sony Corp has suspended operations at six production facilities in the affected area.

For more details on Japan earthquake to impact energy sector click here

GAIL planning petrochemical plant in Kerala at an outlay of Rs 7,0000 mln

GAIL (India) Ltd plans to build a Petrochemical plant unit in Kerala at an estimated outlay of Rs 7,0000 mln, at Kochi, Kerala. To be a sole proprietorship of GAIL over a span of 7 yeras, the developmment of this project will be determined entirely by the obtainability of LNG.

For more details on GAIL planning petrochemical plant in Kerala at an outlay of Rs 7,0000 mln click here

Over 30% of Japan’s cracker capacity shut : Asia's naphtha cracks fall

Over 30% of Japan’s naphtha cracker capacity has been shutdown after the massive earthquake and tsunami, bringing down Asia's naphtha crack to its lowest in just over one week as per Reuters. In Asia’’s naphtha market, Japan plays the demand side.

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Japan devastated by its largest ever earthquake

Japan’s largest earthquake ever- of magnitude 8.9 slammed its eastern coast. The quake struck at a depth of 6 miles (10 kilometers), about 80 miles (125 kilometers) off the eastern coast, located 240 miles (380 kilometers) northeast of Tokyo.

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Sentiment shifting in PE markets in Asia, Mediterranean region

Players in PE markets of Asia and Mediterranean report that sellers have been forced to reevaluate their initial increase targets for March in the face of widespread resistance from converters and sloower than expected demand, as per Chemorbis.

For more details on Sentiment shifting in PE markets in Asia, Mediterranean region click here

Asia’s naphtha demand expected to strengthen in May

Some traders are expecting stronger demand in May, following peak cracker maintenance in April in Asia, as per Reuters. They are on the lookout for vessels to ship at least 300,000 tons of Western napphtha for H1-May arrival vs 250,000 tons for H1-April arrival.

For more details on Asia’s naphtha demand expected to strengthen in May click here

North Asian demand props up naphtha price and cracks in Asia

Asia's naphtha price recovered to a three-session high on Thursday, while cracks lingered near their highest level in a week, supported by North Asian demand, as per Reuters.
Formosa Petrochemical and Honam Petrochemical purchased t a total of about 200,000 tons for H2-April arrival, a day after LG Chem and Samsung Total had bought at least 75,000 tons for H2-April arrival.

For more details on North Asian demand props up naphtha price and cracks in Asia click here

To counter escalating naphtha costs, Formosa Petrochemical to switch to LPG, boost earnings

As oil costs escalate past US$100, and upstream naphtha at US$990 peaks to a 29 month high, Formosa Petrochemical Corp. (FPCC) plans to switch to liquefied petroleum gas (LPG) to partly replace naphthha in ethylene production.

For more details on To counter escalating naphtha costs, Formosa Petrochemical to switch to LPG, boost earnings click here

Coperion awarded Euro 100 mln deal by Borouge

Coperion has been awarded its largest single contract; a Euro 100 mln deal by Borouge to build the entire materials handling systems for the third expansion stage of a large scale plant for the produuction of polyolefin in Ruwais, UAE.

For more details on Coperion awarded Euro 100 mln deal by Borouge click here

Foster Wheeler awarded contract to convert non-recyclable waste plastics into liquid fuels

Foster Wheeler’s Global Engineering and Construction Group has been awarded a contract by Cynar Plc to provide basic process engineering design services for a 6,000 tpa plant to convert non-recyclablee waste plastics into liquid fuels, primarily diesel.

For more details on Foster Wheeler awarded contract to convert non-recyclable waste plastics into liquid fuels click here

Exxon Mobil sets capital budget for 2011 at US$34 bln, a 5.6% increase from 2010 level

Exxon Mobil set its capital budget for 2011 at US$34 bln, which represents a 5.6% increase from the 2010 level. The company also intends to invest US$33-37 bln annually through 2015, significantly higgher than its previous target range of US$25-30 bln pa through 2014.

For more details on Exxon Mobil sets capital budget for 2011 at US$34 bln, a 5.6% increase from 2010 level click here

A versatile technology for the use of fillers in reactive polyurethane blends

Bayer MaterialScience has developed a very versatile technology for the use of fillers in reactive polyurethane (PU) blends. With the Solid Injection by Air Stream (SIA) method, the solids are transpoorted in a gas stream and only injected into the mixing chamber during the blending phase.

For more details on A versatile technology for the use of fillers in reactive polyurethane blends click here

A self-sealing elastic polymer

German researchers have copied the caoutchouc tree's modus operandi to create a self-sealing elastic polymer. When the caoutchouc tree is damaged, liquid latex containing capsules of the protein heveiin escapes from inside it.

For more details on A self-sealing elastic polymer click here

IPF Knowledge Centre proposed to offer trained manpower to the plastic industry

Indian Plastics Federation’s Proposed IPF Knowledge Centre (IPF-KC) is located near Kolkata at the Poly Park in Sankrail. A plot of 1.02 acres was handed over to IPF by WBIDC (a West Bengal Governmentt agency), for successfully initiating construction of a 50 acre Poly Park.

For more details on IPF Knowledge Centre proposed to offer trained manpower to the plastic industry click here

Will limited PS demand lead to sales pressure on European sellers?

In Europe, PS prices rose significantly for the third month in a row. Styrene costs continue to put pressure on PS markets as they retain their upward momentum since the start of 2011. Plus, crude oill prices hovering above the $100/barrel threshold, support the upstream markets.

For more details on Will limited PS demand lead to sales pressure on European sellers? click here

World's first mass production technologies for carbon fiber reinforced plastic

Teijin Limited has established the world's first mass production technologies for carbon fiber reinforced plastic (CFRP), achieving a significant reduction of the cycle time required for molding autoomobile cabin frame to less than one minute.

For more details on World's first mass production technologies for carbon fiber reinforced plastic click here

Former Coal India chairman to become new managing director of Haldia Petrochemicals

Former Coal India chairman Partha S. Bhattacharyya is set to become the new managing director of Haldia Petrochemicals Ltd (HPL). The search committee of the company headed by HPL chairman Tarun Das ffinalised his name and sent an official circular to all the stakeholders.

For more details on Former Coal India chairman to become new managing director of Haldia Petrochemicals click here

PetroRabigh to invite bids for second phase in 1-2 months

Saudi-based PetroRabigh plans to invite bids for work related to the second phase of its giant petrochemicals complex in 1-2 months. The second phase of PetroRabigh, which will add 17 new plants, willl not see expansion of refinery capacity, but the ethane cracker will be expanded by 30 mln cubic feet per day.

For more details on PetroRabigh to invite bids for second phase in 1-2 months click here

Royal DSM to acquire majority stake in Chinese ultra high molecular weight polyethylene fiber maker

Royal DSM NV has inked an agreement to become the majority shareholder in China-based Shandong ICD High Performance Fibre Co. Ltd. (ICD), a manufacturer of ultra-high-molecular-weight polyethylene (UHHMWPE) fiber.

For more details on Royal DSM to acquire majority stake in Chinese ultra high molecular weight polyethylene fiber maker click here

Oil prices slip as OPEC mulls production boost as war-torn Libya's output remained disrupted

Libyan government forces attacked rebels on western and eastern fronts, intensifying their offensive to crush the revolt against Muammar Gaddafi.Oil prices slipped on Tuesday on news that OPEC was connsidering a production boost as war-torn Libya's output remained disrupted and the region's unrest fueled concerns about more supplies being cut off.

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Growing supply of ethane in the US helps the country regain losing market share

The growing supply of ethane in USA has reversed the widely-held assumption of the US petrochemical industry losing market share to other regions of the world, as reported by Platts.
Stephen Pryor, president of ExxonMobil Chemical Co.

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New PP for food packaging offers excellent aesthetics and functionality; enhanced operational efficiencies

Dow and Milliken & Company have announced the launch of AGILITY™ NX™ clear polypropylene (PP) resins, a next-generation family of PP offering excellent aesthetics, excellent functionality and enhancedd operational efficiencies for greater impact on the sustainability profile of PP.

For more details on New PP for food packaging offers excellent aesthetics and functionality; enhanced operational efficiencies click here

Naphtha prices continue to fall, cracks end at week lows

Naphtha prices and naphtha cracks have ended near a one-week low on slow demand as per Reuters. Persistent turmoil in the Middle East has propped market sentiment, but that impact was starting to wearr.

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Month end start up planned for Jubail’s polycarbonate plant

Saudi Kayan plans to start operations at its 260,000 tpa polycarbonate plant at Jubail, Saudi Arabia, at the end of March, as per Platts. The startup will indicate that the company's phenolics complexx is fully operational.

For more details on Month end start up planned for Jubail’s polycarbonate plant click here

Successful start-up of China Prosperity’s 600,000 tpa PTA plant

VISTA Performance Technologies (IPT) and China Prosperity (Jiangyin) Petrochemical Co., Ltd (China Prosperity) have successfully started up China Prosperity’s 600,000 tpa PTA plant. The PTA plant utillizes INVISTA’s market-leading PTA process technology, provided to China Prosperity under a license agreement.

For more details on Successful start-up of China Prosperity’s 600,000 tpa PTA plant click here

Royal Dutch Shell begins restarting ethylene cracker complex in Singapore

Royal Dutch Shell Plc (RDSB) has begun restarting its ethylene cracker complex in Singapore, as per Dow Jones Newswires. Maintenance and improvement work on the Ethylene Cracker Complex in Pulau Bukomm is near completion.

For more details on Royal Dutch Shell begins restarting ethylene cracker complex in Singapore click here

T Chandra Asri to invest US$500 mln in expansion from 2011-14 to meet growing demand

T Chandra Asri Petrochemical plans to invest US$500 million between 2011 and 2014 for expansion to meet growing demands for polyolefin products. US$100 mln will be allocated towards a 100,000 tpa butaadiene plant in Cilegon, Banten.

For more details on T Chandra Asri to invest US$500 mln in expansion from 2011-14 to meet growing demand click here

Bridgestone to add new production line for EVA film* in it’s Polish subsidiary

Bridgestone Corporation announced today that it will add a new production line for EVA (ethylene vinyl acetate) film in the company's Polish subsidiary, Bridgestone Diversified Products Poland Sp. z oo.

For more details on Bridgestone to add new production line for EVA film* in it’s Polish subsidiary click here

Naphtha price, naphtha cracks fall in Asia

Naphtha price in Asia has fallen to two-session low and cracks have fallen to two session lows on slow spot demand, as per Reuters. Asia will receive fewer European cargoes as they have been booked byy USA, upcoming cracker maintenance in the East is set to reduce demand and counter the lower supplies.

For more details on Naphtha price, naphtha cracks fall in Asia click here

Polyvinyl chloride is the most popular material for plastic pipes in Europe

Pipes should last a long time, avoid that waste water or chemicals seep away, but at the same time be easy to handle. This is why plastic – instead of metal or concrete – is increasingly used in pipinng systems.

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Demand for medical devices growing worldwide

The demand for medical devices is growing worldwide due to the ageing population in Western nations and improvements in healthcare services in developing regions. One area for expansion is more user-ffriendly medical equipment for home use, to minimise hospitalisation of the older population.

For more details on Demand for medical devices growing worldwide click here

Approval for US$9 bln Sinopec-Kuwait refinery, petrochemical joint venture

China's leading economic planning body National Development & Reform Commission has granted final approval for the US$9 bln refinery, petrochemical joint venture between Sinopec and Kuwait, as per Reuuters.

For more details on Approval for US$9 bln Sinopec-Kuwait refinery, petrochemical joint venture click here

Asian styrene dip despite stronger upstream costs

Spot styrene prices in Asia have lost some ground over the past weeks even as crude oil and naphtha prices raced ahead to reach their highest levels since 2008, as per Chemorbis. Players commented thaat styrene demand has not been responsive to tightening supplies in the region as existing stock levels have proven high enough to dissuade styrene buyers from purchasing beyond current needs amid ample buffer stocks.

For more details on Asian styrene dip despite stronger upstream costs click here

Indorama Ventures completes acquisition of PET and polyester assets of SK Chemicals’ Java plant

Indorama Ventures Plc. has completed acquisition of the polyethylene terephthalate (PET) and polyester assets of South Korean-based SK Chemicals in western Java, including a 400,000 sq mtr facility inn Tangerang, Banten, which produces PET resin and polyester filament yarns and a 40,840 sq mtr facility in Karawang, West Java, which makes polyester filament yarn.

For more details on Indorama Ventures completes acquisition of PET and polyester assets of SK Chemicals’ Java plant click here

Initial environmental approval granted to US$8.8 bln Sasol-Shenhua coal to fuel project

China has granted initial environmental approval to a US$8.8 bln project by South African petrochemical firm Sasol and China's top coal producer Shenhua Group to turn coal into fuels.
This has driveen the project closer to final approval from the top economic steering body, the National Development & Reform Commission (NDRC), after nearly a decade of talks between the two companies.

For more details on Initial environmental approval granted to US$8.8 bln Sasol-Shenhua coal to fuel project click here

High crude prices, firmer crack spread, tight supplies push European naphtha past US$1000

A combination of high crude oil prices driven up by ongoing violence in Libya and a firmer crack spread supported by tight supplies pushed European naphtha prices to US$1006-1014/ton as per ICIS. Cracck spread firmed to -US$2.

For more details on High crude prices, firmer crack spread, tight supplies push European naphtha past US$1000 click here

Hindustan Petroleum Corporation Ltd scouting for new international partners for refinery construction

Hindustan Petroleum Corporation Ltd (HPCL) is to set up a brand new export-oriented 15 mln ton refinery at Vizag, Andhra Pradesh by the year 2011-2012. The Refinery cum Petrochemical project is estimaated at a value of Rs.

For more details on Hindustan Petroleum Corporation Ltd scouting for new international partners for refinery construction click here

Crude oil surpasses US$104 as crisis in Libya intensifies

Oil prices spiked past US$104 a barrel to end last week at a 29-month high, as fighting in Libya intensified and on news of addition of 200,000 jobs in February in the United States. Even as the job rreport reflects positive news for the economy, it also suggests that more people are driving to work at a time when world oil supplies are under pressure because of unrest in Libya and the Middle East.

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Dow plans maintenance shutdown of LHC-1 naphtha cracker at Terneuzen, Netherlands

Dow Chemical plans to halt operation of a LHC-1 naphtha cracker at its Terneuzen plant in the Netherlands for maintenance between March 11 and April 25, a company spokeswoman told Reuters. Three naphttha crackers operate at the Dutch plant, and the ethylene-producing LHC-1 unit has the capacity to process 215 tons of naphtha per hour.

For more details on Dow plans maintenance shutdown of LHC-1 naphtha cracker at Terneuzen, Netherlands click here

Middle Eastern producers announce March PP, PE prices

Middle Eastern producers started to reveal March PP, LDPE, HDPE and LLDPE film prices to the global markets including China, Turkey and Egypt, as per Chemorbis. In Egypt, this week, more Middle Easterrn producers showed up following their absence during the political turmoil in February.

For more details on Middle Eastern producers announce March PP, PE prices click here

Dynamic development of global demand for propylene - increase of over 20 mln tons by 2017

Dynamic development of the global demand for propylene, namely an increase of over 20 mln tons by 2017, as per a study from Ceresana Research. Sales of propylene reached their peak value of over US$900 bln in 2008 reports Oliver Kutsch, the president of the market research institute, This level will be surpassed as soon as in 2012.

For more details on Dynamic development of global demand for propylene - increase of over 20 mln tons by 2017 click here

High naphtha prompts LPG cracking : ethylene prices likely to fall in Asia

Ethylene prices in Asia are likely to see a downturn in the near future despite crude-led bullish naphtha feedstock prices, as high naphtha costs drive producers to crack LPG, which gives a higher ethhylene yield, as per Platts.

For more details on High naphtha prompts LPG cracking : ethylene prices likely to fall in Asia click here

Naphtha prices in Asia rise to 2 and a half year high

Naphtha prices in Asia rose for a third consecutive session to end the week at a 2-1/2 year high on Friday, while cracks hit a 1-1/2 month high, supported by a stronger European market, as per Reuterss.

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Group led by Mustang Al-Hejailan Eng awarded general engineering services contract by Saudi Aramco

A bidding group led by Mustang Al-Hejailan Engineering, a Wood Group company, has been awarded a general engineering services (GES+) contract by Saudi Aramco. The contract establishes a long-term frammework for the supply of engineering, procurement and construction management services to support the execution of onshore and offshore oil & gas projects within the Kingdom of Saudi Arabia.

For more details on Group led by Mustang Al-Hejailan Eng awarded general engineering services contract by Saudi Aramco click here

License agreement grants DuPont global access to Evonik technology for nylon 6.6, nylon 6

E.I. DuPont de Nemours and Company, Inc., and Evonik Degussa GmbH of Marl, Germany, have signed a license agreement which solely grants DuPont worldwide access to the multi-shot or 2K molding technoloogy patented by Evonik for nylon 6,6 and nylon 6.

For more details on License agreement grants DuPont global access to Evonik technology for nylon 6.6, nylon 6 click here

Naphtha exports from India rise, unlikely to dampen markets due to lower arbitrage cargoes

Naphtha exports from India for March are expected see a 15% hike from February levels to 920,000 tons, possibly due to larger volumes from Indian Oil Corp and Reliance. As per Reuters, IOC has sold att least 6 medium-range naphtha cargoes lifting in March from Kandla and Dahej vs 4 cargoes from the same ports for February loading.

For more details on Naphtha exports from India rise, unlikely to dampen markets due to lower arbitrage cargoes click here

Higher costs overcome slow demand to push up global PE prices

PE markets have seen similar developments across the globe over the past week as prices rise on the strength of stronger upstream costs despite widespread complaints that demand is not as good as selllers had estimated, as per Chemorbis.

For more details on Higher costs overcome slow demand to push up global PE prices click here

If used four or more times, plastic bags to have lower carbon footprint than single-use carrier bags

A report commissioned by UK’s Environment Agency shows that commonly-used plastic ‘bags for life’, if used four or more times, will have a lower carbon footprint than single-use carrier bags. Lightweiight single-use carrier bags have the lowest carbon footprint per bag based primarily on resource use and production.

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8 plants to turn oil rich Nigeria into a regional petrochemical hub

A plan to build eight plants by the government is likely to turn Nigeria into a regional petrochemical hub. The president has approved construction of a petrochemical plant in oil-rich West African naation Nigeria.

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Saudi Arabia's petrochem makers unlikely to be affected by recent regional uprisings

Saudi Arabia's petrochemical makers are not expected to be affected by recent regional uprisings in the region. As reported in Dow Jones, "I can say our exports and industry will absolutely not be afffected by the current political turmoil.

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Oil prices volatile

Falling by almost a dollar, light, sweet crude futures for delivery in April traded at US$101.2 on the Nymex, while April Brent crude on London's ICE Futures exchange fell to US$115.1. Crude-oil futurres have dipped on rumors of Libyan leader accepting a proposal by Venezuela to create a multinational commission to mediate the crisis.

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SABIC to replace natural gas feedstock with propane and naphtha

Most Saudi petrochem producers use ethane because of government subsidies that mark it below market prices, and also at values cheaper than other feedstock such as propane and naphtha. World number onne petrochemical maker- Saudi Basic Industries Corp, is switching feedstock to propane and naphtha.

For more details on SABIC to replace natural gas feedstock with propane and naphtha click here

Petrochemical makers in Asia mull switching to LPG as naphtha gets dear

Naphtha prices have been soaring in Asia in line with a crude price rally, limited arbitrage volumes and short-covering activity in the Asian naphtha market. As per Platts, Asian petrochemical produceers are mulling a switch from naphtha to LPG as a cracking feedstock.

For more details on Petrochemical makers in Asia mull switching to LPG as naphtha gets dear click here

No firm plans by Formosa Plastics Group to build petrochemical complex on Jurong Island

Reports that Formosa Plastics Group is planning to build a petrochemical complex on Jurong Island in Singapore, has been refuted by the Taiwanese major.
Though group chairman William Wong was scheduuled to head a delegation of corporate executives on a visit to the production hub on Jurong Island on March 9, the trip will be a courtesy call in response to visits made by Singapore officials to Formosa group.

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Turkey’s imports spike to record high for the month of January

Overall imports to Turkey set a record high for the month of January, but the monthly total failed to surpass the record set in December 2010, as per Chemorbis. However, January figure was the highestt ever for the month - All products surged higher year over year except for PET which has seen imports tumble down.

For more details on Turkey’s imports spike to record high for the month of January click here

Yisheng Petrochemicals’ 2 mln tpa PTA plant on track to start by end 2012

Yisheng Petrochemicals’ new 2 mln tpa plant in Hainan is expected to start up as planned by end 2012. The Chinese has completed its machinery purchases for the new plant, as per Platts. Two machine trrains with PTA capacity of 1 mln tpa has been sourced from Germany's MAN Turbo.

For more details on Yisheng Petrochemicals’ 2 mln tpa PTA plant on track to start by end 2012 click here

Abu Dhabi's IPIC eyes complete takeover of Spanish petrochemical holding

Abu Dhabi’s International Petroleum Investment Company (IPIC), which acts as the Abu Dhabi sovereign wealth fund, has announced plans to launch a public takeover bid for energy giant Compania Espanolaa de Petrolios (Cepsa).

For more details on Abu Dhabi's IPIC eyes complete takeover of Spanish petrochemical holding click here

4% sales growth estimated for German chemical sector in 2011

The German chemical industry will return to normal growth rates after an “amazing” 2010, as per VCI. Germany's chemical industry will increase sales by 18% in 2010 and growth will slow to 4% in 2011 oon easing effects of restocking.

For more details on 4% sales growth estimated for German chemical sector in 2011 click here

General Holding Corp to invest 15 billion dirhams in Abu Dhabi’s metals and petrochem sector over five years

Abu Dhabi government-owned General Holding Corporation plans to invest up to 15 billion dirhams in the metals and petrochemicals sector over five years as part of a diversification push. The firm is pplanning to tap debt markets through a bond issue in 2012 or 2013 to finance its petrochemical investments.

For more details on General Holding Corp to invest 15 billion dirhams in Abu Dhabi’s metals and petrochem sector over five years click here

Acquisition of irrigated land to be avoided for proposed PCPIR in Orissa

Orissa government will avoid acquiring irrigated land for the proposed Petroleum, Chemical and Petrochemical Investment Region (PCPIR) project, to be set up over a total area of 284.16 km in Jagatsingghpur and Kendrapara districts with 123.

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Rising oil pressures cracks spread: gasoline and naphtha barge prices rise in Europe

European gasoline and naphtha barge prices rose as rising oil markets pressured crack spreads, as per Reuters. Brent has surpassed US$114 amid unrest in North Africa and the Middle East, reigniting cooncerns about global oil supply.

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Gadaffi strikes back : Oil prices cross US$100

Oil prices have crossed US$100 on reaction to Libyan leader Gaddafi’s strike back. Forces of Gaddafi attacked rebel strongholds in the eastern part of the country, location of several production facillities.

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Dow adopts strategy to focus on high margin materials, instead of low margin commodity plastics

As part of its new strategy to focus on high margin materials, rather than its traditional expertise in low margin commodity plastics, Chemical giant Dow plans to house its plastics business in a new division, “Performance Plastics unit”.

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Texas Petrochemicals files motion to dismiss in a lawsuit that claims its pipelines were damaged

Texas Petrochemicals has filed a motion to dismiss in a lawsuit claiming its pipelines were damaged when another pipeline ruptured and started a fire. Texas Petrochemicals filed a lawsuit in April, 20009, in Jefferson County District Court against UCAR Pipeline Inc.

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Higher propylene contracts pull Italian PP market up for March

As Europe’s initial March propylene contract price was settled early this week with an additional increase of €80/ton from the February contract level, Italy’s PP market has started to witness new hikke requests for the third month in a row, as per Chemorbis.

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SABIC, ExxonMobil proposed elastomers JV moves into Front-End Engineering and Design

Saudi Basic Industries Corporation (SABIC) and affiliates of ExxonMobil Chemical announced that work on their proposed elastomers project joint venture has moved fully into Front-End Engineering and DDesign (FEED).

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Formosa Plastics Group studying feasibility of investments in Singapore

Formosa Plastics Group is studying the feasibility of investing in Singapore, possibly a refinery and petrochem complex, at an estimated investment of NT$250 bln (US$10.7 bln). FPG controls more than 100 companies making products ranging from semiconductors to detergents, and operates in China, USA, Indonesia, Vietnam and Taiwan.

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Acetone to firm in Europe on tight supplies, rising feedstock propylene

Acetone prices in Europe are set to firm again on tightness in supply and another round of increase in the cost of feedstock propylene, as ICIS. March propylene contract price has spiked by €80/ton (UUS$111/ton) in Europe.

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Jan imports in China down from Dec, up from Jan 2010

According to data announced by Chinese Customs, China’s polymer imports were down slightly from December 2010 to January 2011, although the January 2011 figures are considerably higher when compared wwith import figures of January 2010 as per Chemorbis.

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Finance Minister ignores call to withdraw import duty on naphtha: a blow to Haldia Petro

India’s Finance minister has chosen to ignore the call of Bengal chief minister to withdraw the import duty on naphtha, dealing a body blow to Haldia Petrochemicals Ltd (HPL), the showpiece project off the state.

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Maintenance planned at Fina Antwerp Olefins’ naphtha cracker next month

Fina Antwerp Olefins NV, a petrochemical venture of Total SA and Exxon Mobil Corp., plans to conduct maintenance at its naphtha cracker next month, as per Bloomberg. Naphtha cracker 3 with capacity too produce 610,000 tpa ethylene, will be idled at the site in Belgium from the end of March for about six weeks.

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Asian naphtha prices rise, cracks surge on demand from West

Naphtha prices in Asia rose to a two-session high, while cracks surged about 15% to almost a month-high. As per Reuters, the increase has been supported by Western demand, on news that USA has purchassed large volumes of naphtha from Europe about a week ago, impacting the Asian market.

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Bayer MaterialScience inaugurates polyisocyanates facility in the state of Gujarat, India

Bayer MaterialScience has inaugurated a manufacturing facility for polyisocyanates at Ankleshwar, in the state of Gujarat, India. Polyisocyanates are used as raw materials for the production of polyurrethane coatings and adhesives.

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Production shutdown at Libya, fears of unrest spreading to Saudi Arabia: oil prices rise

Brent crude settled at US$111.72 after rising past US$114, while light, sweet crude on the Nymex settled at US$96.89.
Earlier in the day, oil prices rose by 2% on news of shutdown of oil production in Libya and on fears that the unrest might spread to Saudi Arabia.

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Highlights of Union Budget 2011-2012

Union Finance Minister Pranab Mukherjee on Monday presented the Union Budget 2011-2012 in the Lok Sabha. An overview of the budget estimates for 2011-12 projects Rs 9,32,440 crore - an increase of 24%%.

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Asian propylene prices spike up on shutdowns

In Asia, spot propylene prices recorded significant increases over the last week, gaining US$60/ton on FOB Korea basis, as per Chemorbis. Meanwhile, the increase amount reaches three digits when compaared to the beginning of the month- at US$125/ton.

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CB&I Lummus awarded contract for design engineering and project management for expansion and upgrade of Sohar Refinery

CB&I Lummus has won a contract to provide design engineering and project management consultancy services linked to the expansion and upgrade of the nation's biggest refinery at Sohar. CB&I Lummus, whiich is part of the multinational engineering and construction conglomerate Chicago Bridge & Iron Company (known commonly as CB&I), led a field of 7 reputable firms that bid for the prestigious contract valued at RO 19.

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Brent crude prices squeeze profit margins, gasoline crack in Europe at near zero

European gasoline's crack fell to near zero - US$0.05 a barrel, on Friday as strong Brent crude prices squeezed profit margins, as per Reuters. There were no trades in the European physical naphtha wiindow,resulting in a wide bid-offer spread.

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Invista mulls nylon 6,6 intermediates and polymer facility at Shanghai Chemical Industry Park

Leading global nylon intermediates and fiber manufacturer Invista plans to construct a manufacturing facility at the Shanghai Chemical Industry Park in China to meet the region’s demand for nylon 6,6 intermediates and polymer.

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Change in shareholding of Oman’s state-owned petrochemical companies

The ownership profile of Oman Refineries and Petrochemicals Company, Oman Polypropylene and Aromatics Oman is set to undergo a major change in the next few weeks, as reported by Platts. This follows tthe formation of a new government-owned company - Oman Oil Refineries and Petroleum Industries (ORPI) announced earlier this week.

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SRF mulls Rs 665 crore investment for BOPP expansion in South Africa and Gujarat

SRF Ltd is mulling investment of Rs 665 crore on expansion project n South Africa and Gujarat.
"While we are determined to expand operations in all our businesses to achieve and retain global leadersship, the expansion in the chemicals and the packaging films businesses is part of our overall strategy and ongoing efforts to reduce our dependence on nylon tyre cord," SRF MD Ashish Bharat Ram said.

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Eastman completes further expansion of non-phthalate plasticizer facility at Kingsport

Eastman Chemical Company has successfully completed a further expansion of its manufacturing capacity for Eastman 168™ non-phthalate plasticizer at its Kingsport, Tenn., USA, facility. A versatile nonn-phthalate plasticizer for PVC,Eastman 168™ has a long and growing track record of regulatory approvals.

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Fully recyclable PET ketchup bottles made partially from plants

The Coca-Cola Company and H.J. Heinz Company have entered a strategic partnership that enables Heinz to produce its ketchup bottles using Coca-Cola's breakthrough PlantBottle™ packaging. The PET bottlles are made partially from plants and have a lower reliance on non-renewable resources compared with traditional PET plastic bottles.

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Import offers to Egypt increase after crisis

The Egyptian polymer market appears to be returning to some level of normalcy following the political turmoil which caused most of the regional Middle Eastern producers to step back, as per Chemorbis..

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Nova Chemicals’ execution of definitive agreements to purchase and transport ethane production to Alberta

Nova Chemicals has announced the execution of definitive agreements with Hess Corporation (Hess) and Vantage Pipeline Canada Inc./Vantage Pipeline US LP (Vantage) to purchase and transport ethane prodduction from Hess’ Tioga Gas Plant in North Dakota via a proposed pipeline to Alberta, Canada.

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PTT Chemical and PTT Aromatics and Refining’s consolidation plan to create SE Asia's second biggest petrochemical firm

Thailand's PTT Chemical and PTT Aromatics and Refining have announced a consolidation plan that will create Southeast Asia's second-biggest petrochemical firm. The merger is subject to approval from PPTT shareholders.

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Brent crude spikes: Naphtha prices in Asia hovers around 2-½ year high

After touching US$103.4, crude oil for April delivery dropped for the day to US$97.2 on the Nymex, while Brent crude hit US$119 before dropping back to US$114. Front-month H1-April naphtha prices spikked by seventy dollars to US$992/ton, peaking to levels highest since Sept.

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Brent crude’s ascent to 29 month high above US$113 fuels concerns of slower global growth

Unrest in Libya and fears of the sentiments spreading to other oil producing countries in the Middle East-North Africa region has propelled Brent crude to a 29 month high past US$113, while crude tradded at around US$99 on the Nymex.

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Saudi Basic Industries Corporation (Sabic) plans mega investments in India

Saudi Arabian petrochemicals major Saudi Basic Industries Corporation (Sabic) is planning big investments in India for which it is pursuing talks with Indian petrochemical players for a joint venture,, in a bid to tap the huge potential of the Indian market with cracker projects and downstream refineries, vice president Asia Pacific and member of the board of directors of Sabic Asia Pacific, told Business Standard.

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Braskem-Idesa choses Lupotech T technology for Mexican low density-polyethylene plant

Braskem-Idesa, a joint venture between Brazilian petrochemical company Braskem and Mexican group Idesa, has chosen the Lupotech T technology developed by Dutch LyondellBasell for its Mexican low densiity-polyethylene plant.

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Asia's naphtha price ease after rising to two year highs at US$927/ton

Asian naphtha price hit its highest in over two years on Tuesday at US$927/ton. The next day saw prices fall, with cracks easing as weak fundamentals loomed, as per Reuters. The price for front-month H1-April slipped by US$5.

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Formosa Petrochemical and Honam buy 250,000-300,000 tons of naphtha for H1-April arrival

Naphtha markets of Asia have received a much needed boost with buying of 250,000-300,000 tons of naphtha for H1-April arrival by Taiwan's Formosa Petrochemical Corp and South Korea's Honam, as per Reuuters.

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